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Hannover Re: agreement on employee involvement in the European Company
Planet Labor, 28 May 2013, n°7579 - www.planetlabor.com

On May 3, 2012, the general assembly of Hannover Re (Hannover Rückversicherung), the German reinsurance company, one of the major reinsurance companies in the world, agreed to adopt the legal status of European Company (SE).  On January 23, the special negotiating body (SNB) in charge of defining the modalities to involve employees in the future SE – a Community requirement prior to registration – signed an agreement with the company’s management to define the modalities for employee representation in the company, notably by setting up the SE’s WC.  Finally, on March 19, 2013, Hannover Re SE registered with the Hanover register of companies, thus completing the transformation.  The agreement shows that Hannover RE isn’t doing this to avoid German co-management rules.  Besides, the list of issues where the SE’s WC must be informed and consulted is unusually long and varied.  Martin Lemcke, in charge of “co-management” for the Verdi services union and member of the SNB, says that the agreement reached is “extremely fair.”  He accepted to comment it for Planet Labor.  (Ref.  130349)

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