Excellence in Reinsurance
Prepare for Hannover Rück SE
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Hannover Rück SE (Hannover Re) is the world's third-largest reinsurer, operating across property & casualty (P&C) and life & health (L&H) reinsurance. Despite being smaller than Munich Re and Swiss Re, Hannover Re is known for its technical excellence, lean structure, and strong actuarial culture. Their recruitment uses SHL cognitive ability tests and a structured interview process. Hannover Re hires across actuarial science, underwriting, risk management, finance, and IT, with a strong focus on quantitative skills and Rückversicherungsprinzipien.
CV, cover letter, and academic transcripts. Actuarial roles require evidence of exam progress (DAV, IFOA, or SOA). Strong maths/statistics background required.
SHL Verify G+: numerical reasoning, verbal reasoning, and inductive reasoning. High difficulty. Duration: 60-75 minutes.
For actuarial roles: quantitative test covering probability, statistics, Cat Bond pricing, and reinsurance principles (Rückversicherungsprinzipien; proportional vs. non-proportional). Duration: 45-60 minutes.
Competency-based interview with HR and department manager. Questions focus on analytical thinking, risk mindset, and Hannover Re's values (excellence, partnership, reliability).
Used by: SHL
Reinsurance financial data: combined ratios, loss ratios, premium income by segment (P&C vs. L&H), nat cat loss estimates. 18 questions in 25 minutes.
Practice NowUsed by: SHL
Reading comprehension of reinsurance and risk texts. True/False/Cannot Say format. Topics include Solvency II, IFRS 17, and climate risk.
Practice NowUsed by: SHL
Abstract pattern recognition at high difficulty. Measures fluid intelligence.
Practice NowUsed by: Hannover Re Internal
Probability distributions, excess of loss treaties, Cat Bond structures, and reinsurance principles (Rückversicherungsprinzipien). Key topics: Actuarial Math, Cat Bonds, proportional vs. non-proportional reinsurance.
Practice NowReinsurance Principles: A quota share treaty (Quotenvertrag) has a cession rate of 40%. The primary insurer has gross premiums of €120m and gross claims expenses of €80m. What is the reinsurer's share of the claims expenses?
Hannover Re is smaller and more specialised than Munich Re. The culture is more collegial and less hierarchical, which shows in interviews.
Actuarial exam progress (DAV, IFOA) is essential. Hannover Re's actuarial team is one of the strongest in the industry.
Reinsurance principles (Rückversicherungsprinzipien): master both proportional (quota share / Quotenvertrag, surplus / Summenexzedentenvertrag) and non-proportional (excess of loss / Schadenexzedentenvertrag, stop-loss) treaty structures.
Hannover Re's L&H (Life & Health) division is particularly strong. If you have a background in biometrics or longevity risk, highlight this.
The SHL Verify G+ tests are very difficult. Practice with timed conditions and aim for 70th percentile or above.
Hannover Re values 'Partnerschaft' (partnership) with cedants. Show understanding of the client relationship in reinsurance.
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