Hannover Re to change legal form to SE

German reinsurer Hannover Re has announced that it intends to change its legal form to a European public limited company or Societas Europaea (SE).

This transformation means that existing shareholders of the current company, Hannover Rückversicherung AG, will automatically become shareholders of Hannover Rück SE.

The rights of shareholders, clients and employees of Hannover Re are not expected to be affected.

The change in legal form still needs to be approved at the company’s Annual General Meeting, which is to be held in Hannover on 3 May 2012.