New business fields are being developed

With his election to the Supervisory Board, Herbert K. Haas steps down after twelve years as Chairman of the Board of Management. The new Chairman of the Board of Management of Talanx AG is Torsten Leue (51).

Under the umbrella of Talanx AG, Hannover Rück SE and HDI Global SE are launching a joint initiative in global growth and high-margin specialty business. The two companies are therefore merging their specialty activities in a new joint venture. The new company HDI Global Specialty SE will write agency and specialty insurance business in lines such as errors & omissions liability insurance, directors’ and officers’ (D&O) liability insurance, legal expenses insurance, sports and entertainment, aviation, offshore energy and animal insurance.

Talanx has agreed to acquire 99.4 percent of the shares in Liberty Sigorta A.S., the Turkish non-life subsidiary of US-based Liberty Mutual Group. The acquisition enables Talanx to strengthen its presence in Turkiye, which is one of the Group’s core markets. Closing the transaction is subject to obtaining the relevant regulatory approvals, and this is expected to occur in the first half of 2018.

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