Turning partnership into success.
Hannover Re Capital Partners
Who we are
Hannover Re Capital Partners is an insurance-linked securities (ILS) manager based in Bermuda, providing institutional investors with access to global (re)insurance risk.
As a subsidiary of Hannover Re, we operate independently with our own governance and portfolio management while drawing on the underwriting standards, market access, and financial strength of one of the world’s leading reinsurers.
Hannover Re Capital Partners is licensed by the Bermuda Monetary Authority as insurance agent and operates within a robust regulatory framework.
What we offer
Broad access to the global reinsurance market
Access to one of the world’s largest portfolios of reinsurance risks, through Hannover Re’s global origination platform and long-standing and trustful cedent and broker relationships.
Disciplined underwriting excellence
Market-leading risk modelling combined with specialist underwriting expertise across each segment, largely in one location. We focus on return per unit of risk, supported by strong analytics and cycle awareness.
Independent portfolio construction
Portfolios are built within an independent governance framework, tailored to each mandate and based on the experience of Hannover Re’s multi cycle underwriting track record.
Alignment of interest
Hannover Re partners alongside our investors using the same underwriting, models and risk and legal governance, retaining tail risk from investor portfolios and maintaining material exposures.
Why building Hannover Re Capital Partners
Hannover Re Capital Partners (HCP) is a natural evolution of Hannover Re’s strategy to strengthen its leadership in insurance-linked securities (ILS) and natural catastrophe reinsurance. Hannover Re has long combined underwriting and structural expertise with partner capital to deploy risk efficiently and at scale. Over time, Hannover Re has built a comprehensive ILS ecosystem spanning risk sharing, structuring, collateralized fronting and catastrophe bond transformation and investments.
Increasing demand from institutional investors for bespoke offerings and the market need for additional reinsurance solutions led to the establishment of Hannover Re Capital Partners.
Partnering for long-term value
Solution-driven
We structure tailored solutions as a bridge between reinsurance and capital markets, meeting cedants' needs while simultaneously delivering attractive returns for capital partners.
Selective deployment of capital
Our global relationships provide access to opportunities that are not broadly available, and our data-driven approach allows us to assess and structure them with discipline. We lean into opportunities, while maintaining strict underwriting standards and risk controls.
Transparency
We operate under a transparent share allocation policy. We clearly demonstrate our risk metrics and portfolio construction logic, as well as our alignment with Hannover Re.
Integrated ILS platform
End-to-end capabilities across origination, structuring, fronting and capital management, enabling efficient execution and solutions that capture the economics of an AA- rated balance sheet for our capital partners.
Investment thesis
Reinsurance offers a structurally driven risk premium as it performs a critical role in transferring risk within the real economy. Insurers rely on external capital to manage volatility, meet regulatory requirements, and maintain coverage. Demand for protection grows in line with economic activity, asset values, and climate-related risks.
Capturing this premium requires expertise and access to a relationship-driven market that rewards consistent, long-term providers of capacity with high-quality opportunities. Hannover Re’s established position provides such access. Cedants and brokers value the greater capacity, broader underwriting appetite, and diversified capital base that Hannover Re Capital Partners’ investors bring.
Reinsurance risk can be modelled, stress-tested, and aggregated within robust analytical frameworks, enabling disciplined selection and pricing. Within this context, Hannover Re Capital Partners applies Hannover Re’s underwriting, analytical capabilities through an investor-focused portfolio framework.
Your contact
Michael Eberhardt
Chief Executive Officer Hannover Re Capital Partners
Tel: +1 441 591 3122 michael.eberhardt[at]hannover-re.com
Aaron Garcia
Head of Capital and Underwriting Hannover Re Capital Partners
Tel: +1 441 707 1021 aaron.garcia[at]hannover-re.com
Hannover Re Capital Partners Limited © 2025