Hannover Re Enters Canadian Life Market

By Andrew Rickard | March 06 2015 08:34AM

Hannover Re, an Irish reinsurance company, is coming into the Canadian market.

On March 2, Hannover Re announced that it had obtained the federal and provincial licenses it requires in order to operate as a life and health reinsurer in Canada. The company’s Canadian branch will be located in Toronto and will offer mortality risk management, insurance-based financial solutions, as well as longevity, group life, and special risk solutions to direct carriers.

Mr. Amhlaoibh Lynch has been appointed General Manager of the reinsurer's Canadian branch. Before joining Hannover Re Lynch was with Manulife Financial where he held a number of different actuarial positions, most recently serving as Vice President and Chief Financial Officer of Affinity Markets for the Canadian division.

“Through my career I have had the pleasure to work with Hannover Re on a number of occasions and always admired its client focused approach and embodiment of its 'Somewhat Different' philosophy and spirit,” comments Lynch. “When I was presented with the opportunity to lead Hannover Re’s entry into Canada, it was a 'no-brainer,' and I could not be happier to represent them.”