Content

Archive 2001

[ 2001-12-12 ]
Personnel information With effect from January 1, 2002, the Supervisory Boards of Hannover Re and E+S Rück have appointed Dr. Michael Pickel as a full member of the Executive Board.

[ 2001-11-28 ]
Hannover Re plans increase in stockholders' equity of EUR 194.3 million The Boards responsible for Hannover Re decided today to increase the capital stock of Hannover Re by EUR 7,305,749.99 to EUR 82,798,545.89 through the issue of 2,857,761 new, registered no-par value shares. Hannover Re is being advised on this capital increase by Norddeutsche Landesbank Girozentrale, Hannover.

[ 2001-11-16 ]
Moody's Financial Strength Rating for Hannover Re Rating agency Moody's Investors Service, Inc. announced today that it has downgraded the financial strength rating of Hannover Re and its subsidiary E+S Rück from Aa3 to A2. This rating does not only deviate significantly from the evaluation of the other leading rating agencies, it is also based on a completely different level of knowledge and information.

[ 2001-11-13 ]
Hannover Re enters the weather market As of 1 October 2001 Hannover Re has joined an international pool offering worldwide protection against temperature, wind and precipitation risks.

[ 2001-10-30 ]
Press Release on Interim Report 2/2001 2001 half-year report shows strong growth and results according to plan; Outlook for 2001 full year overshadowed by losses from the terrorist attacks in the USA; Excellent prospects for 2002 and beyond Hannover Re is pleased with its development in the first half-year 2001. As stated in its interim report, an after-tax profit of EUR 118.8 million (+ 15.2%) was generated with gross premium income of EUR 4.5 billion (+ 20.6%).

[ 2001-08-30 ]
New Executive Board Members Effective 1 September 2001, Dr. Detlef Steiner - currently a member of Hannover Re's Executive Board with responsibility, inter alia, for program business - is to become President and Chief Operating Officer of Hannover Re's largest subsidiary, Clarendon Insurance Group, New York. With effect from 1 January 2002, Dr. Steiner will also assume the function of Chief Executive Officer of the company.

[ 2001-07-20 ]
Press Release on Interim Report 1/2001 At the Annual General Meeting of Hannover Re held today in Hannover, Wilhelm Zeller, Chairman of the Executive Board, not only looked forward to the prospects for 2001 but also presented the Hannover Re Group's first quarterly report. All the strategic segments generated profit contributions - despite falling net investment income. The Annual General Meeting approved all the items on the agenda by a large majority, including the renewal of the Executive Board's authorisation to acquire own stock.

[ 2001-06-15 ]
Hannover Re transacts reinsurance via e-commerce: Inreon Hannover Re has joined "inreon", an independent, internet-based exchange for standardised reinsurance products.

[ 2001-06-05 ]
2000: Sixth record result in succession

  • Gross premium income + 24%
  • Property and casualty reinsurance + 30%
  • Program business + 45%
  • Financial reinsurance + 71%
  • Consolidated net income and earnings per share + 81%
  • Return on equity 26% after tax
  • Seventh consecutive dividend increase

[ 2001-06-01 ]
New Chief Financial Officers for HDI and Hannover Re At its meeting on 8 May 2001 the Supervisory Board of HDI Haftpflichtverband der Deutschen Industrie V.a.G. appointed Herbert K. Haas (47) as a member of the Board of Management of HDI V.a.G. with effect from 1 February 2002

[ 2001-05-02 ]
Hannover Re establishes catastrophe reinsurer in Bermuda Effective from 30 March 2001, Hannover Re established in Bermuda the new subsidiary Hannover Re (Bermuda) Ltd. that will be writing catastrophe business on a worldwide basis.

[ 2001-03-14 ]
Expected year-end results for 2000 / Outlook for 2001

  • strong growth in all strategic segments
  • Net underwriting result improved
  • Investment income modest in second half-year
  • Net income for the year up 78%
  • Dividend increase envisaged

[ 2001-03-12 ]
Hannover Re issues further hybrid capital in the form of a subordinated loan Last week, Hannover Re placed further hybrid capital on the European capital market through its subsidiary Hannover Finance (Luxembourg) S. A. in the form of a subordinated loan. The loan, which has a term of 30 years and a call option for the issuer after 10 years, has a total volume of EUR 350 million. The offering price of the loan is fixed at 99.276% with a coupon of 6.25%. The loan has been subscribed primarily by European institutional investors.

[ 2001-03-08 ]
Clarendon results disappointing for 2000 The Clarendon Insurance Group, New York, part of the Hannover Re Group since 1999, was able to increase its gross premium income in 2000 to USD 1.7 billion, a rise of 15%. However, the after-tax profit fell markedly from USD 33.8 million to USD 1 million.

[ 2001-03-05 ]
Hannover Re expands its program business The Hannover Re subsidiary Insurance Corporation of Hannover (ICH), Los Angeles, has acquired substantial parts of the program business of Acceptance Insurance Companies, Inc.