Hannover Re Bermuda has appointed Michael Eberhardt as its new Managing Director and Chief Underwriting Officer. Eberhardt transitions into this role following his tenure as the head of Hannover Re’s Australian branch and the Business Center for Treaty in Australia and New Zealand (ANZ).
Eberhardt’s career with Hannover Re began in 2006, when he joined as an underwriter in the structured reinsurance division, specializing in markets across Spain, Portugal, Latin America, and the Caribbean. In 2012, he relocated to Australia, where he swiftly advanced to lead Hannover Re’s Treaty reinsurance business. His leadership expanded further as he took on the roles of General Manager and Managing Director of the Australian branch, eventually assuming CEO responsibilities for the local entity in 2021.
Hannover Re has a deep-rooted presence in the Australian insurance market, having secured its first contract in the region in the 1970s. The Australian branch, officially registered in 1985, has seen substantial growth over the years. Initially, administrative and regulatory support was provided by Littlewoods Services Pty. Ltd. until Hannover Re assumed full operational control in 2012. Today, the branch is recognized as the third-largest property and casualty reinsurer in Australia, offering a comprehensive range of reinsurance services. This growth was further marked by the branch’s relocation to new premises at Barangaroo Avenue in 2018.
In his new role, Eberhardt will oversee underwriting operations at Hannover Re Bermuda, a central hub for the company’s global underwriting activities, particularly in the insurance-linked securities (ILS) market. Hannover Re Bermuda is pivotal in the company’s ILS operations, engaging closely with ILS managers and facilitating transactions such as catastrophe bonds and collateralized reinsurance.
