Hannover Re Bermuda names new managing director

Hannover Re Bermuda names new managing director | Insurance Business Australia

Reinsurance

Hannover Re Bermuda names new managing director

Who has been appointed to lead the Bermuda team?

Reinsurance

By
Jonalyn Cueto

Hannover Re Bermuda announced the appointment of Michael Eberhardt to become its new managing director and chief underwriting officer. Prior to this, Eberhardt served as the head of Hannover Re’s Australian branch and the Business Center for Treaty in Australia and New Zealand (ANZ).

Eberhardt joined Hannover Re in 2006, initially working as an underwriter in the structured reinsurance division with a focus on Spain, Portugal, Latin America, and the Caribbean. In 2012, he relocated to Australia, where he advanced to head Hannover Re’s Treaty reinsurance business and later on served as general manager and managing director of the Australian branch. In 2021, he began to assume CEO responsibilities for the local entity.

Hannover Re has a long history in the insurance scene in Australia, starting with its first contract in the 1970s. The Australian branch was officially registered in 1985 and has since evolved significantly. Initially supported by Littlewoods Services Pty. Ltd. for administration and regulatory services, Hannover Re took over all operations locally by 2012. Today, it stands as the third-largest property and casualty reinsurer in Australia, offering a full suite of reinsurance services. The branch’s growth culminated in a move to new premises at Barangaroo Avenue in 2018.

In his new role, Eberhardt will oversee underwriting operations at Hannover Re Bermuda, a central hub for the company’s global underwriting activities, particularly in the insurance-linked securities (ILS) market. Hannover Re Bermuda is pivotal in the company’s ILS operations, engaging closely with ILS managers and facilitating transactions such as catastrophe bonds and collateralized reinsurance.

A spokesman for Hannover Re lauded Eberhardt’s capabilities to lead its Bermuda branch. “Under his leadership, Hannover Re has grown to become one of the market leaders in the ANZ region,” he said.

Do you have anything in mind about this new appointment? Let us know in the comments below.