Content

Investor Relations Overview

We have implemented a series of measures in recent years in order to achieve our goals with regard to transparency and reliability.

By means of individual informational discussions, we strive to maintain a direct dialogue with financial analysts and institutional investors, thereby drawing attention to our company and fostering interest. We organise regular roadshows at major financial marketplaces throughout the world, including Frankfurt, New York,  London, Zurich, Glasgow and Edinburgh, and we regularly participate in investors conferences, trade fairs, share forums, etc.

Furthermore, we have placed the Hannover Re share in the USA in the form of American Depositary Receipts (ADRs). Hannover Re ADRs are traded under the stock exchange ID "HVRRY", and two ADRs correspond to one (no-par-value) registered share. As of the beginning of 2004 The Bank of New York acts as the depositary bank handling ADR transactions.

As at 16 October 2000 we converted all our shares to registered shares. The improved knowledge of the shareholding structure is an important tool for organising our Investor Relations activities even more systematically and efficiently, and helps us to maintain better direct contact with our shareholders.

We attach great importance to the implementation of the Corporate Governance principles. Substantial parts of these requirements, which serve to realise a responsible and value-creation orientated management and supervision of corporate entities, have already been incorporated into day-to-day practice at Hannover Re. We have completed our risk management procedures and we publish our business results according to international standards (IFRS), which also include a segment report. Company information is published in accordance with well-defined internal rules. Our regular press releases, newsletters and conference calls as well as our constantly updated Internet site prevent any possibility of selective disclosure.

Hannover Re has been a member of the German Investor Relations Association (Deutscher Investor Relations Kreis (DIRK) e.V.) since 1997. The representatives of the companies that belong to the DIRK recommend a code of practice for the conduct of Investor Relations-Arbeit. These professional principles are intended to promote the DIRK's goal of improving relations between the DIRK members and the national and international capital markets. The professional principles put forward by the DIRK are thus also aimed at enhancing Germany's appeal as a financial marketplace.