The markets of Northern Europe are served by our branch in Stockholm. Based on the reinsurance capacities that we are able to offer as well as a very good rating, we are one of the key providers of reinsurance coverage in this region.

The year under review was overshadowed by several natural disasters: the second most expensive loss event in the history of Denmark was the severe rainfall in July, which left large parts of Copenhagen under water. The total insured loss is in the order of EUR 650 million. At EUR 7.8 million, the loss expenditure for Hannover Re’s account was rather moderate.

In the face of unfavourable conditions we slightly scaled back our business in 2011.