Hannover Re Goes Live with @GlobalTrade Standby L/C Guarantee Issuance System

Hannover Re, third-largest reinsurer in the world, has implemented @GlobalTrade Standby L/C Guarantee Issuance System for handling outgoing standby letters of credit (L/C) globally. The system has been installed in Hannover Home Office and integrated with internal data base systems.

“GTC’s product has convinced us by its completeness,” said Gerhard Lubitz, general manager collateral management, Hannover Re. “During installation phase and throughout the project customer service from GTC met our expectations at any time. Despite the fact that GTC is located in Canada and we are in Germany, we felt that they were always next door.”

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