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7.6 Lawsuits

In the context of the acquisition of Lion Insurance Company, Trenton/USA, by Hannover Finance, Inc., Wilmington/USA – a subsidiary of Hannover Re –, a legal dispute existed with the former owners of Lion Insurance Company regarding the release of a trust account in an amount of around USD 14 million that served as security for liabilities of the former owners in connection with a particular business segment. The proceedings were terminated by way of a partial settlement and court decision of August 2011 under which the trust account was divided between the parties involved.

With the exception of the aforementioned proceedings, no significant court cases were pending during the year under review or as at the balance sheet date – with the exception of proceedings within the scope of ordinary insurance and reinsurance business activities.


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