German reinsurer Hannover Re S.E. has acquired a 30% stake in Ecuadorian reinsurer Reaseguradora Del Ecuador S.A., reported Inese.es.
Daniel Duesterhaus, a Hannover Re official, said that the reinsurer considers Ecuador as an attractive market and the stake purchase allows it to continue supporting the country’s insurance industry for a long term.
Jorge Abbud, Ecua Re’s chairman of the board, said that incorporating Hannover Re into the ranks of shareholders is a great support for Ecua Re’s growth strategy.
Fuente: Business Insurance