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MANAMA, Bahrain Hannover Re is opening a branch in Bahrain that will begin writing business in 2008.
Hannover Ruckversicherung A.G, Bahrain Branch, will concentrate on traditional reinsurance in the Middle East. Hannover Re launched a retakaful unit in the region last year.
Wilhelm Zeller, chief executive officer of Hannover Re said in a statement that the reinsurer's additional presence in Bahrain will "reduce our operational risk since the two offices optimally complement and dovetail with one another."