talanx group annual report 2011 en

Nature of risks Notes on the balance
Notes on the balance
sheet – assets
sheet – liabilities
Notes on the
statement of income
Other information
List of shareholdings
Other events
In a press release dated 20 January 2012 our subsidiary Talanx International AG, Hannover, announced
the acquisition of all shares of TUiR Warta S. A. (Towarzystwo Ubezpieczeń i Reasekuracji
Warta S. A.) from the Belgian KBC Group for a price of EUR 770 million. The acquisition is still subject,
inter alia, to the customary regulatory approvals. In the context of the acquisition it is envisaged
that our Japanese strategic partner Meiji Yasuda Life Insurance Company will take over 30% of these
shares. The Warta Group also includes the life insurer Warta Towarzystwo Ubezpieczeń na Zycie S. A.
Since we expect the transaction to close in the second half of 2012, information pursuant to IFRS 3
has been omitted.
In a press release dated 26 January 2012 Hannover Re announced that it had again enabled the
capital market to participate in (natural) catastrophe risks by increasing the proportional retrocession
programme referred to as the “K Cession” (previously “K6”) by an amount equivalent to
roughly EUR 15 million to EUR 270 million. The transaction, which complements the traditional retrocession
programme used to protect against peak exposures such as natural disasters, was placed
with institutional investors worldwide and is fully collateralised. The cession rate is roughly 37% and
applies to a portfolio comprised of non-proportional reinsurance treaties from the six main zones
for natural catastrophe risks as well as the aviation and marine (including offshore business) lines.
Talanx Group. Annual Report 2011
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