Purchase of ING portfolio from Scottish Re completed

Purchase of ING portfolio from Scottish Re completed

Hannover, 23 February 2009: Hannover Re today announced that the
acquisition of the ING individual life reinsurance business from the
Scottish Re Group, first announced on 23 January 2009, has been
completed. The respective regulators have approved the transaction.

Hannover Re is acquiring from Scottish Re the policy administration
systems and operating assets required to administer North American
life reinsurance business as well as investment assets to fund the
technical liabilities associated with the portfolio. The company has
also secured the employment of key personnel. The acquisition thus
marks a major step in the expansion and further diversification of
Hannover Re's global life reinsurance business.

The contracts are expected to generate a premium volume in the order
of USD 1.2 billion for 2009. Hannover Re anticipates an annual profit
contribution of approximately EUR 30 million over the coming years.

For further information please contact:

Press and Public Relations / Investor Relations:
Stefan Schulz (tel. +49 / 511 / 56 04-15 00,
e-mail: stefan.schulz@hannover-re.com)

Press and Public Relations:
Gabriele Handrick (tel. +49 / 511 / 56 04-15 02,
e-mail: gabriele.handrick@hannover-re.com)

Investor Relations:
Klaus Paesler (Tel. +49 / 5 11 / 56 04-17 36,
e-Mail: klaus.paesler@hannover-re.com)

Please visit: www.hannover-re.com

Hannover Re, with a gross premium of around 8 billion euro, is one of
the leading reinsurance groups in the world. It transacts all lines
of non-life and life and health reinsurance. It maintains business
relations with more than 5,000 insurance companies in about 150
countries. Its worldwide network consists of more than 100
subsidiaries, branch and representative offices in around 20
countries with a total staff of roughly 1,800. The rating agencies
most relevant to the insurance industry have awarded Hannover Re very
strong insurer financial strength ratings (Standard & Poor's AA-
"Very Strong" and A.M. Best A "Excellent").

Disclaimer:
Some of the statements in this press release may be forward-looking
statements or statements of future expectations based on currently
available information. Such statements are naturally subject to risks
and uncertainties. Factors such as the development of general
economic conditions, future market conditions, unusual catastrophic
loss events, changes in the capital markets and other circumstances
may cause the actual events or results to be materially different
from those anticipated by such statements. Hannover Re does not make
any representation or warranty, express or implied, as to the
accuracy, completeness or updated status of such statements.
Therefore, in no case whatsoever will Hannover Re and its affiliate
companies be liable to anyone for any decision made or action taken
in conjunction with the information and/or statements in this press
release or for any related damages.

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