Hannover Re has announced a leadership transition within its Insurance-Linked Securities (ILS) and Retrocession team, confirming that long-term ILS head Henning Ludolphs will transition into an advisory role effective today October 1st, with Patrick Horstmann succeeding him as head of the unit to ensure continuity and support future growth.At the same time, Hannover Re also confirmed that Dirk Heuer will continue to lead its retrocession activities, providing stability and expertise.Hannover Re also announced two key appointments within its ILS business: Nora Lisse and Stefan Schulz have both been promoted to new roles, heading the actuarial and collateralised fronting teams, respectively.Ludolphs, who joined the reinsurer in 1989 as the Group’s first trainee, has served in a number of key roles throughout his career in Germany, Ireland, and South Africa.

He played an instrumental role in establishing Hannover Re’s ILS division in 2008.Under his leadership, Hannover Re established itself as a major provider of ILS, and one of the largest buyers of retrocession.Ludolphs has been instrumental in Hannover Re’s development into one of the most sophisticated reinsurers in the way it utilises and partners with third-party capital sources in the market.

Under his watch, the reinsurer has fronted billions of dollars in reinsurance limits for ILS investors and fund managers, while also acting as a key facilitator in helping cedants access capital markets backed sources of reinsurance.Hannover Re is now one of the most important facilitators, in fronting and risk transformation terms, in the insurance-linked securities market.In addition, again while Ludolphs led the team, Hannover Re’s retrocession program has developed into one of the most sophisticated and capital agnostic in the industry, providing targeted coverage and leaning on investor relationships to support the reinsurer’s growth and protection needs.

“Henning Ludolphs, who has been instrumental in shaping Hannover Re’s ILS activities since founding the unit in 2008, will transition into an advisory role as of 1 October 2025.We thank him for his outstanding leadership and look forward to his continued contributions until his retirement in 2026,” Hannover Re commented.“Henning oversaw our successful Insurance-Linked Securities activities and our retrocession buying for more than a decade.

With the new structure, we have found a future-ready set-up,” commented Silke Sehm, Executive Board Member.As mentioned, Horstmann, who succeeds Ludolphs, joined Hannover Re in 2006 as a marketing actuary, taking on responsibilities across several European markets.Throughout his career, he has played a critical role in developing Hannover Re’s ILS business and, since 2021, has led the unit with a strong focus on growth and innovation.

Meanwhile, Heuer, who joined Hannover Re in 1997 has held a number of key roles across underwriting and risk management.Since 2014, he has led the reinsurer’s retrocession activities, providing stability and expertise.Lisse, who joined Hannover Re in 2011, has been closely involved in the development of the company’s ILS business from the outset.

Since 2022, she has been responsible for the P&C actuarial function within ILS, playing a key role in shaping the firm’s activities.And finally, Schulz, who began his career at Hannover Re in 1998, has held a variety of leadership roles.Since 2009, he has overseen the company’s collateralised fronting activities, helping to establish them as a strategic success story for the Group..

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