Insurance News
- Hannover Re to expand life reinsurance
Date: 9-Feb-2007 Sources: (Shenzhen Daily)
HANNOVER Re is targeting a fivefold increase in premiums to around 50 million euros (US$65 million) in its life reinsurance business in China within 10 years, the world's fourth-biggest reinsurer said Thursday.
The company is not planning acquisitions and instead targets organic growth in a rapidly expanding Chinese insurance market, company executive Frank Miehe said. Hannover Re, which won a license to do life business in China in November, aims to achieve an underwriting margin of 10 to 15 percent after costs, Miehe said.
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