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Jul 2008 Hannover Re and the Indian state owned reinsurer have concluded an exclusive partnership agreement. Established over a five-year period, the deal provides for the creation of a synergy between both companies for the purpose of developing their life reinsurance operations.
In the first stage, the Indian underwritings of the German reinsurer will continue to be carried out from the Hannover Re offices in Germany before being relayed through the local offices of the company in India.
Moreover, Hannover Re also plans on setting up a service company in Mumbai.