A new specialty lines insurer is making its debut – HDI Global Specialty SE.
HDI Global Specialty SE was created by merging Hannover Re’s and HDI Global SE’s specialty lines. HDI Global SE holds 50.2 percent of the new company and Hannover Re has 49.8 percent.
The new company focuses on high-margin business with premium volumes above $1.1 billion, targeting both organic and inorganic growth. HDI Global Specialty SE writes global specialty lines including accident and health, aviation, cyber, energy, extended warranty, financial and professional lines, legal expense, marine, political violence and political risk; pet and farmpack; and sport, leisure and entertainment risks.
HDI Global Specialty SE operate from six of its own offices and throughout the HDI Global SE network in 150 countries.
Beyond pursuing organic growth opportunities, HDI Global Specialty SE will pursue an active strategy identifying new teams, portfolios of business and mergers and acquisitions.
Ralph Beutter, formerly Chief Executive Officer (CEO) of Inter Hannover, assumes the role of CEO of HDI Global Specialty SE. Richard Taylor, previously UK Managing Director of HDI Global SE, is appointed to the Executive Board of Management as Chief Marketing Officer, reporting to Beutter, according to the company’s launch announcement.
Taylor, in prepared remarks, said the new company is focused on being “the platform of choice for the specialty lines market and we are in a strong position to deliver this.”
Source: HDI Global Specialty SE