Hannover Re $500m L/C facility funds US expansion

03 Mar 2010

Hannover Re, the German reinsurer, has signed a $500m letter of credit facility with Deutsche Bank to expand its life business in the US.

The 30 year deal signed on Monday will be used to put up the collateral required by regulators for assumed technical liabilities on its growing life business.

“As we acquired the ING life reinsurance portfolio last year and we now have an underwriting platform, it is possible for ...

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