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ArchiveThe archive lists all press releases and newsletters published since 1996.
[ 2009-11-16 ]
New Head of Corporate Communications
Karl Steinle (39) is to assume responsibility for Corporate Communications at Hannover Re with effect from 16 November 2009.
[ 2009-11-06 ]
Interim Report 3/2009
Hannover Re presents very pleasing interim result: The company anticipates earnings of at least EUR 5.75 a share for 2009 and is looking to pay a dividend of at least EUR 2 per share
[ 2009-10-26 ]
Hannover Re subsidiary expects stable prices for upcoming January 2010 treaty renewals in Germany
E+S Rück – the reinsurer for Germany within the Hannover Re Group – is again looking to attractive business opportunities in 2010 and hopes to continue the profitable expansion of its already large market share.
[ 2009-10-13 ]
Hannover Re strengthens its presence in China
Hannover Re has received approval to open a branch in Shanghai for non-life reinsurance.
[ 2009-09-25 ]
Reactions Global Awards 2009
Reactions Global Awards 2009: Hannover Re was the proud recipient of two awards yesterday evening in New York.
[ 2009-09-01 ]
Hannover Re executes innovative capital market transaction covering facultative risks
Hannover Re has for the first time placed a facultative risk portfolio as part of its extended Insurance-Linked Securities (ILS) activities
[ 2009-08-06 ] Interim Results 2/2009 Hannover Re reports very pleasing result for the first half of 2009
more
[ 2009-07-30 ]
Hannover Re renews cat bond for European windstorm risks
As part of its diversfied risk management, Hannover Re renewed its Eurus cat bond that had been issued in July 2006: Eurus II provides cover against severe windstorm from July 30th 2009 until March 31st 2012 in seven European countries
[ 2009-06-30 ]
Wilhelm Zeller retires
Having led the Hannover Re Group for more than 13 years, Chief Executive Officer Wilhelm Zeller is retiring today as planned
[ 2009-05-05 ]
Press Release on Annual General Meeting 2009
The Ordinary General Meeting of Hannover Re today approved all proposed resolutions by a large majority
[ 2009-05-05 ] Press Release on Interim Results 1/2009 Hannover Re records gratifying interim result
more [ 2009-03-11 ] Press Release on Annual Report 2008 Hannover Re enters the new financial year in optimistic mood
more
[ 2009-02-23 ]
Purchase of ING portfolio from Scottish Re completed
Hannover Re today announced that the acquisition of the ING individual life reinsurance business from the Scottish Re Group, first announced on 23 January 2009, has been completed. The respective regulators have approved the transaction
[ 2009-02-03 ] Hannover Re highly satisfied with treaty renewals in non-life reinsurance
more
[ 2009-01-23 ]
Hannover Re to acquire ING individual life reinsurance business from Scottish Re
Hannover Re announced today an agreement to acquire certain US Individual Life Reinsurance Business previously reinsured from ING by affiliates of Scottish Re Group Limited in a reinsurance and asset purchase transaction.
[ 2009-01-15 ]
Hannover Re successfully places life reinsurance business on the capital market
Hannover Re has again transferred a portfolio of life and annuity reinsurance to the international capital market. The transaction – designated "L7" – encompasses a financing volume of EUR 100 million and covers unit-linked life and annuity business of several European clients
[ 2008-11-05 ]
Press Release on Interim Results 3/2008
Capital market crisis and above-average volume of catastrophe losses dominant factors in the result as at 30 September 2008
[ 2008-10-27 ]
Hannover Re subsidiary sees attractive business opportunities in the German market
At its press conference in Baden-Baden E+S Rück – the company that bears responsibility for German business within the Hannover Re Group – presented a very positive assessment of reinsurance conditions in the German market
[ 2008-09-08 ]
Hannover Re anticipates only moderate losses from hurricane "Gustav"
Hannover Re expects a net strain of less than EUR 100 million from hurricane Gustav
[ 2008-09-04 ]
Hannover Re and its Chief Executive Officer honoured with awards
The highly regarded international industry magazine "The Review" crowned Hannover Re "Reinsurance Company of the Year". At the same time, the company's CEO was honoured with the "Lifetime Achievement Award".
[ 2008-08-07 ]
Press Release on Interim Results 2/2008
Capital market and exchange rate movements dampen profitability for the first half of 2008
[ 2008-06-20 ]
Hannover Re to cooperate with Indian reinsurer GIC Re
Hannover Re has reached an exclusive cooperation agreement with India's government-owned reinsurer GIC Re regarding the joint development, marketing and underwriting of life reinsurance business in India.
[ 2008-06-19 ]
Hannover Re completes innovative capital market transaction
Hannover Re has completed the first transaction as part of its extended Insurance-Linked Securities activities.
[ 2008-05-27 ]
Hannover Re voted best overall reinsurer in North America three times in succession
In a broker survey conducted by the highly regarded US-based Flaspöhler Research Group Hannover Re has been voted best overall reinsurer in North America
[ 2008-05-06 ]
Annual General Meeting carries all motions as proposed
The Annual General Meeting of Hannover Re today approved all motions brought, adopting all of its resolutions with a large majority
[ 2008-05-06 ] Press Release on Interim Results 1/2008 Hannover Re reports gratifying interim result
more
[ 2008-04-02 ]
Hannover Re voted best reinsurer in Russia
In a survey conducted on the occasion of the 12th All-Russia Reinsurance Conference at the end of March 2008 in Moscow Hannover Re was chosen as the best foreign reinsurer.
[ 2008-03-12 ] Press Release on Annual Results 2007
more [ 2008-02-05 ] Hannover Re satisfied with 1 January treaty renewals in non-life reinsurance
more
[ 2008-01-07 ]
Hannover Re expands in South Korea
Hannover Re plans to establish a branch office for life and health reinsurance business in Seoul
[ 2007-11-08 ] Press Release on Interim Results 3/2007 Hannover Re reports highly satisfactory interim result
more
[ 2007-10-24 ]
Hannover Re establishes life reinsurer in Bermuda
Hannover Re has established a new subsidiary in Bermuda which will transact life reinsurance business.
[ 2007-08-03 ] Press Release on Interim Results 2/2007 Very pleasing half-yearly result
more
[ 2007-07-05 ]
Hannover Re strengthens its presence in Bahrain
Hannover Re is opening a branch office in the Kingdom of Bahrain: Hannover Rückversicherung AG, Bahrain Branch
[ 2007-06-01 ]
Sale of Praetorian Group to Australian insurer completed
Information about the sale of Hannover Re's US subsidiary Praetorian Financial Group, Inc., New York
[ 2007-05-10 ]
Hannover ReTakaful wins "MEIF Innovation Award 2007"
Hannover ReTakaful B.S.C. (c) this week received the 2007 Innovation Award of the Middle East Insurance Forum (MEIF)
[ 2007-05-03 ]
Press Release on the Annual General Meeting 2007
Annual General Meeting approves all proposed resolutions
[ 2007-05-03 ]
Press Release on Interim Results 1/2007
Hannover Re off to a good start in the new financial year
[ 2007-04-30 ]
New man at the helm of Corporate Communications
Stefan Schulz (36) is to assume responsibility for Corporate Communications at Hannover Re with effect from 1 May 2007
[ 2007-03-14 ] Press Release on Annual Results 2006 Hannover Re generates best result in the company's history
[ 2007-03-06 ]
Hannover Re completes its programme of protection cover on the capital market
In the first transaction of its type Hannover Re has placed on the capital market an aggregate XL cover of USD 200 million on its worldwide natural catastrophe business.
[ 2007-02-26 ]
Hannover Re securitises reinsurance recoverables worth around EUR 1 billion
Following successful securitisations in property/casualty and life/health reinsurance business, Hannover Re has now for the first time transferred the risks deriving from so-called reinsurance recoverables to the capital market.
[ 2007-02-08 ] Hannover Re satisfied with treaty renewals
more
[ 2007-01-29 ]
Hannover Re expects losses in the range of EUR 120 - 180 million from winter storm Kyrill
Winter storm 'Kyrill' – which swept across large parts of Europe on 18 and 19 January 2007 – caused insured losses in the order of EUR 4 to 7 billion.
[ 2007-01-16 ]
Hannover Re draws on capital market to further boost underwriting capacity
Hannover Re has again used the capital market to obtain underwriting capacity for catastrophe risks and boosted the volume of last year's "K5" risk securitisation to USD 520 million.
[ 2006-12-13 ]
Hannover Re sells Praetorian Group to Australian insurer
Hannover Re today reached agreement to sell its US subsidiary Praetorian Financial Group, Inc., New York, to QBE Insurance Group Ltd., Sydney, Australia.
[ 2006-12-08 ]
Hannover ReTakaful
Hannover Re launches subsidiary for Sharia-compliant reinsurance in Bahrain
[ 2006-11-14 ] Press Release on Interim Results 3/2006 Hannover Re reports gratifying interim result
more
[ 2006-11-10 ]
Hannover Re receives business licence for China
Hannover Re has received a licence from the China Insurance Regulatory Commission (CIRC) to transact life and health reinsurance in the People's Republic of China.
[ 2006-09-07 ]
Flaspöhler 2006 US Broker Survey
Hannover Re best reinsurer overall in North America
[ 2006-08-08 ] Press Release on Interim Results 2/2006 Highly satisfactory semi-annual result for Hannover Re
more
[ 2006-07-31 ]
Hannover Re uses CAT bond to protect against European windstorm risks
Hannover Re has for the first time used a traditional CAT bond in its array of risk management tools.
[ 2006-05-12 ] Press Release on Interim Results 1/2006 Hannover Re starts the new financial year on a positive note
more
[ 2006-05-12 ]
Press Release on Annual General Meeting 2006
Annual General Meeting approves all proposed resolutions
[ 2006-03-23 ]
Press Release on Annual Results 2005
Hannover Re achieves breakeven result for 2005 despite historically unprecedented natural catastrophe losses
[ 2006-03-07 ]
Hannover Re fundamentally reorganises its US specialty business with Praetorian launch
Hannover Re is fundamentally restructuring its US primary insurance business: all specialty business – henceforth the strategic focus – is to be transferred to the newly established Praetorian Financial Group, Inc.
[ 2006-02-16 ]
Hannover Re monetises EUR 100 million of Life Embedded Value
Hannover Re has completed a transfer of life insurance risks into the international financial market with effect from 31 December 2005.
[ 2006-02-07 ] Hannover Re satisfied with renewal season
more
[ 2006-02-03 ]
Hannover Re draws on capital market to boost underwriting capacity
Hannover Re has again used the capital market to obtain underwriting capacity for catastrophe risks.
[ 2006-02-01 ] Rod Fox to lead Hannover Re's US specialty insurance operations as CEO of Clarendon Group
more [ 2005-11-10 ] Press Release on Interim Results 3/2005 Result adversely impacted by exceptionally heavy losses
more [ 2005-09-02 ] Hannover Re heavily impacted by Hurricane "Katrina"
more [ 2005-08-11 ] Press Release on Interim Results 2/2005 Hannover Re reports gratifying interim result
more
[ 2005-06-14 ]
Press Release on Annual General Meeting 2005
The roughly 1,500 participants at Hannover Re's very well attended Annual General Meeting today approved all proposed resolutions by a substantial majority.
[ 2005-05-25 ]
Hannover Re successfully completes hybrid capital exchange and new issue
Hannover Re has today successfully issued a EUR 500 million hybrid capital bond via its subsidiary Hannover Finance (Luxembourg) S.A.
[ 2005-05-12 ]
Press Release on Interim Results 1/2005
Hannover Re posts another highly gratifying quarterly performance
more [ 2005-05-12 ] Hannover Re issues further hybrid capital
more [ 2005-03-29 ] Press Release on Annual Results 2004
more [ 2004-11-11 ] Press Release on Interim Results 3/2004
more
[ 2004-10-12 ]
Hannover Re expects 2004 performance to exceed its return-on-equity target and reaffirms existing profit expectation for 2005
The net burden of losses before tax for Hannover Re resulting from all these windstorm events totalled almost EUR 340 million in the third quarter (see the enclosed table for further details). As things currently stand, this figure is to a large extent still based on estimates; nevertheless, in view of the structure of its protection covers, it is the company's assumption that this amount cannot be significantly exceeded.
[ 2004-09-09 ]
The Review Award 2004
Having been crowned "Reinsurance Company of the Year" only last year by the UK trade magazine "Reactions", the company has now been awarded this title by the similarly highly respected international trade journal "The Review".
[ 2004-09-06 ]
Hannover Re well prepared for hurricanes
Having been hit hard only three weeks ago by Hurricane "Charley", the US state of Florida has now suffered a second severe windstorm in the form of Hurricane "Frances".
[ 2004-08-12 ] Press Release on Interim Results 2/2004
more
[ 2004-07-16 ]
Hannover Re goes live with second e-business product
Hannover Re enhances the benefits and services offered by its e-business portal reCover
[ 2004-06-02 ]
Flaspöhler Award: Hannover Re best reinsurer in North America
In a survey conducted by the well-known US-based Flaspöhler Research Group, Hannover Re emerged as the best overall reinsurer on the North American reinsurance market.
[ 2004-06-02 ]
Annual General Meeting approves all proposed resolutions
The Annual General Meeting of Hannover Re, which was very well attended with more than 1,500 participants, approved all proposed resolutions by a large majority.
[ 2004-05-17 ] Press Release on Interim Results 1/2004
more [ 2004-04-07 ] Moody's Rating
more [ 2004-03-29 ] Press Release on Annual Results 2003
more
[ 2004-02-18 ]
Hannover Re successfully issues further hybrid capital
Hannover Re has successfully placed a subordinated debt issue of EUR 750 million in the European capital markets today via its guaranteed subsidiary Hannover Finance (Luxembourg) S.A.
[ 2004-02-11 ] Hannover Re to issue further hybrid capital
more [ 2003-11-26 ] Press Release on Interim Results 3/2003
more
[ 2003-10-23 ]
Moody's Rating
The rating agency Moody's Investors Service, Inc. announced
today that they have affirmed their insurance financial strength
rating for Hannover Re of Baa1, but have revised the outlook
from 'negative' to 'stable'.
[ 2003-09-08 ]
Reactions Award 2003: Hannover Re named "Reinsurance Company of the Year"
Hannover Re has been named "Reinsurance company of the year 2003" by the highly respected UK trade journal "Reactions". Wilhelm Zeller, Chairman of the Executive Board, accepted the award yesterday at the annual Rendezvous de Septembre in Monte Carlo.
[ 2003-08-29 ]
New head of Corporate Communications
Effective today Eric Schuh is to assume responsibility for Corporate Communications at Hannover Re.
[ 2003-08-27 ] Press Release on Interim Results 2/2003
more
[ 2003-07-11 ]
Clarendon: No major impact of Stirling Cooke court ruling
The British Commercial Court in London released a judgement in the Sphere Drake vs. Stirling Cooke litigation ruling in favour of Sphere Drake. There has been speculation that this ruling might have a major impact on our New York subsidiary, Clarendon Insurance Group. We therefore wish to clarify that the worst-case scenario of this judgement is in the order of USD 15 million.
[ 2003-06-20 ]
Clarification of misinterpretations
Clarification of misinterpretations Mr. Zeller did not declare the end of the hard market Hannover Re has not been downgraded.
[ 2003-06-12 ] Capital increase of around EUR 500 million through combined transaction of cash and contribution in kind
more
[ 2003-05-27 ]
Annual General Meeting approves all proposed resolutions
The Annual General Meeting of Hannover Re - well-attended by around 1,000 participants - approved all proposed resolutions by a large majority.
[ 2003-05-27 ] Press Release on Interim Results 1/2003
more
[ 2003-04-14 ]
Press Release on Annual Results 2002
In its 2002 group financial statements Hannover Re followed up on the outstanding results of the years prior to 2001. As reported by Wilhelm Zeller, Chairman of the Executive Board, at the press briefing on the annual results in Hannover, Hannover Re was able to post the best result achieved by the company in operating terms since it was first established.
[ 2003-03-25 ]
Moody's Insurance Financial Strength Rating for Hannover Re
The rating agency Moody's Investors Service, Inc. announced today that they have downgraded their insurance financial strength rating for Hannover Re from "A2" to "Baa1" with negative outlook.
[ 2002-12-17 ]
Hannover Re strengthens equity base
Hannover Re's subsidiary E+S Rück, bearing exclusive responsibility for German business within the Group, yesterday successfully completed the capital increase announced in October.
[ 2002-12-16 ]
Moody's Insurance Financial Strength Rating for Hannover Re
Rating agency Moody's Investors Service, Inc. announced today that it has put its insurance financial strength rating (A2) for Hannover Re under "review", this does not preclude further downgrading. Moody's has justified this move, inter alia, by suggesting that Hannover Re's capital resources are not adequate in view of its strong premium growth.
[ 2002-11-20 ] Press Release on Interim Report 3/2002
more
[ 2002-11-15 ]
Extraordinary General Meeting approves expansion of capital market options
Today, the Extraordinary General Meeting of Hannover Re approved by a large majority an amendment of the Articles of Association that enables the company to utilise all currently recognised capital market instruments as necessary. In addition to providing for increased authorised capital, a framework has now been created for the issue of convertible and warrant bonds, dividend bonds and participation rights.
[ 2002-10-29 ]
Standard & Poor's Rating of Hannover Re
The rating agency Standard & Poor's has announced today that it has placed its financial strength rating of Hannover Re (AA, "very strong") on Credit Watch with negative implications.
[ 2002-10-07 ]
Hannover Re seeks to expand its capital market options
Hannover Re is calling an Extraordinary General Meeting on 14 November 2002. The principal item on the agenda is an amendment of the Articles of Association that will enable the company to utilize as necessary all currently available capital market instruments.
[ 2002-09-16 ]
No risk of billions of euros for Hannover Re from business with investment banks
In an article in today's "Financial Times Deutschland" the paper writes about latent risks of billions of euros for reinsurers involved in business with investment banks in order to secure corporate bonds and loans. In this context, Hannover Re is mentioned as "an active market participant in these new risks".
[ 2002-09-02 ]
Hannover Re's losses from flood catastrophe within the multi-year average
Now that the situation in the flooded areas of Central and Eastern Europe is slowly returning to normal, our clients the primary insurers have also begun to analyse the resulting damage and to draw up initial estimates of the burden of losses.
[ 2002-08-21 ] Press Release on Interim Report 2/2002
more [ 2002-07-31 ] Profit forecast for 2002 unchanged
more
[ 2002-07-09 ]
Hannover Re implements Stock Split 3:1
At our Annual General Meeting on 24 May 2002 it was decided by a large majority to increase the capital stock of Hannover Re out of company funds and implement a stock split.
[ 2002-07-01 ]
New Appointment for Corporate Communication
Dr. Lutz Köhler (42) assumes responsibility for Corporate Communications, comprising primarily Investor Relations and Public Relations, with effect of July 1st 2002.
[ 2002-05-24 ]
Press Release on Interim Report 1/2002
Quarterly net income more than doubled; Record result forecast for 2002
[ 2002-04-25 ] Press Release on Annual Report 2001
more
[ 2002-04-02 ]
Hannover Re enhances its position for an upswing in the market
With today's completion of its K3 transaction, Hannover Re has again utilized the capital markets for the securitization of catastrophe and other large-scale risks. K3 is a structured financing involving a so-called portfolio-linked securitization, comprising a variety of non-proportional reinsurance covers for natural perils (hurricanes and earthquakes in the U.S., wind-storms in Europe and earthquakes in Japan) and worldwide aviation business
[ 2002-01-31 ] Press Release on Interim Report 3/2001
Hannover Re's results for the first nine months of 2001 would have been positive, had it not been for the terrorist attacks in the United States on 11 September 2001. Excluding this extraordinary impact, Hannover Re would have achieved a profit after tax of EUR 30 million, or EUR 1.04 per share, in the third quarter of 2001. Because of these events, however, the third quarter profit after tax decreased by EUR 234 million, or EUR -7.92 per share, to EUR -204 million, or EUR -6.88 per share. more
[ 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%).
[ 2001-09-24 ]
Hannover Re's estimates remain firm
Hannover Re's estimates remain firm. An increase in the estimated loss as a result of the terror acts in the USA will not be necessary.
[ 2001-09-13 ] Acts of Terror in the USA
more
[ 2001-09-06 ]
Hannover Re named "Reinsurance Company of the Year" for the second time
Hannover Re has been awarded the title of "Reinsurance Company of the Year 2001" by the UK trade journal "The Review".
[ 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
more
[ 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
more
[ 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.
[ 2001-01-26 ]
Moody's rating for Hannover Re
The rating agency Moody's Investors Service Inc. announced today that they have downgraded their insurance financial strength rating for Hannover Re and its subsidiary E+S Rück from ´Aa2´ to ´Aa3´ with a view to "further possible downgrade".
[ 2001-01-18 ]
New Appointment for Investor Relations and Public Relations
Roland Vogel (41), presently responsible for the Controlling & Information department, which includes Investor Relations and Public Relations, will be in charge of the Finance and Accounting division with effect from April 1st, 2001.
[ 2000-09-21 ]
Hannover Re wins "Capital Investor Relations Award"
Hannover Re has been named winner of the "Capital Investor Relations Award" for companies listed on the MDax by the business magazine "Capital".
[ 2000-07-20 ]
Favourable business development in the current year to date
At today's Annual General Meeting of Hannover Re the Chairman of the Executive Board, Wilhelm Zeller, provided some initial insights into the course of business during the current year. The remarkable reduction in the burden of major losses and the development of investment income, in particular, have been highly gratifying to date. In addition, the Annual General Meeting approved all the items on the agenda by a large majority, as a consequence of which the proposed replacement of bearer shares with registered shares will be completed as early as October.
[ 2000-07-03 ]
Hannover Re increases participation in South African subsidiary
Hannover Re has increased its previous 70% participation in Hannover Reinsurance Group Africa, Johannesburg, to 100% with effect from 1 July 2000.
[ 2000-06-06 ] Hannover Re continues successful performance
more
[ 2000-05-15 ]
Clarendon posts top results
The Clarendon Insurance Group, New York, a wholly owned subsidiary of the Hannover Re Group, has increased both gross premium and profit by a double-figure percentage. Profits after tax grew to USD 34m, a huge improvement on the previous year's loss of USD 2.5m (which was, however, burdened by exceptional effects of the take-over). Nevertheless, even if these effects are discounted, pre-tax profit growth was up by more than 13% over last year.
[ 2000-05-08 ]
Hannover Re changes to registered shares
At its meeting held today the Executive Board of Hannover Rückversicherungs-AG resolved to propose to the Annual General Meeting on 20 July that the currently existing bearer shares be replaced with registered shares.
[ 2000-04-17 ]
Hannover Re boosts Program Business
The Clarendon Insurance Group, New York, a wholly owned subsidiary of the Hannover Re Group, has signed an agreement with Acceptance Insurance Companies, Inc. to acquire all outstanding shares in Redland Insurance Company, Iowa.
[ 2000-01-28 ]
Winter storms pose no threat to 1999 profit target
Due to its anticyclical and strictly profit-oriented strategy in property and casualty reinsurance, Hannover Re's share of the reinsured losses caused by the winter storms "Lothar" and "Martin" at the end of last year will be less than the average.
[ 2000-01-24 ]
Expansion of life and health reinsurance
Hannover Re has continued its strategically accelerated expansion of life and health reinsurance business by establishing two new branch offices in Malaysia and Hong Kong.
[ 1999-11-22 ]
Third securitization of life and health reinsurance business
Hannover Re has completed a third transaction for the transfer of acquisition costs in life and health reinsurance to the capital markets.
[ 1999-11-22 ]
Personnel Information
With effect from January 1, 2000, the Supervisory Boards of Hannover Rückversicherungs-AG and E+S Rück have appointed Dr. Michael Pickel as a Deputy Member of the Executive Board.
[ 1999-10-20 ]
Repositioning of life and health reinsurance
As explained by Wilhelm Zeller, Chairman of Hannover Re's Executive Board, the enormous growth of life and health reinsurance within the Hannover Re Group - with a fourty-fold increase in the nineties and growth of 50% in the current year alone - necessitates the organisational restructuring of what is already the Group's second-largest strategic business segment. Worldwide life and health reinsurance activities are therefore to be reorganized with effect from January 1st, 2000 and combined to form an independent division headed by Executive Board member Dr. Wolf Becke.
[ 1999-10-13 ]
Hannover Re ready for Y2K
Hannover Re last week completed comprehensive production tests as a final step in ensuring the Y2K compliance of all its computer systems and technical equipment.
[ 1999-07-30 ]
US GAAP Group Accounts 1998
US GAAP reconciliation of the Group annual accounts presented at Annual General Meeting. This puts the Group's stockholders' equity at DM 2.7 billion - almost four times the figure of DM 703 million on the basis of German accounting rules (HGB).
[ 1999-06-22 ]
1998: Fourth record year in succession
The Hannover Re Group achieved its fourth record result in succession for the 1998 financial year.
[ 1999-04-22 ]
Hannover Re Group in 1999
At a press conference in Frankfurt the Chairman of the Executive Board of Hannover Re, Wilhelm Zeller, reported on the insights gained from the so-called renewal season, i.e. the annual treaty negotiations between reinsurers and their clients.
[ 1999-04-15 ]
Hannover Re not involved in the Unicover Pool losses
An analyst's report on the Hannover Re stock released by the investment bank Goldman Sachs on 1 April 1999, points to a potential risk of default on reinsurance
[ 1999-02-26 ]
Acquisition of Clarendon Insurance Group completed
Yesterday Hannover Re confirmed in New York that it had closed the agreement announced in August 1998 for the acquisition of all shares of Clarendon Insurance Group retroactively from 1 January 1999.
[ 1998-12-17 ]
Hannover Re welcomes a new member to its Executive Board
With effect from January 1, 1999, Dr. Detlef Steiner (52) will assume responsibility as a member of the Executive Board at Hannover Re.
[ 1998-12-15 ]
Hannover Re secures USD 50 million in option capital
Hannover Re has once again made use of capital markets for the purpose of laying-off catastrophe risks.
[ 1998-11-30 ]
First joint presence of Hannover Re and Clarendon at the NAII
Opposing market trends in the individual business sectors; Premium income in excess of DM 5 billion from North America in 1999.
[ 1998-09-25 ]
First US GAAP accounts of a German insurance organization
Wilhelm Zeller, Chairman of Hannover Re's Executive Board, presented a US GAAP ("generally accepted accounting principles") reconciliation of the Group annual accounts at today's Annual General Meeting of the company.
[ 1998-09-23 ]
Hannover Re: "Reinsurance Company of the Year"
Hannover Re has been awarded the title of "Reinsurance Company of the Year 1998" by the UK trade journal "The Review".
[ 1998-09-09 ]
New E+S Re shareholder
Hannover Re recently sold a 3.8% stake in its subsidiary E+S Rückversicherungs-AG (E+S Re), thereby reducing its majority holding to 50.1%.
[ 1998-08-25 ]
Hannover Re to acquire U.S. specialty insurance group
Hannover Re has reached an agreement in principle to acquire all outstanding shares of Clarendon Insurance Group, New York, for USD 500 million in cash. Clarendon is one of the few leading writers of program business in the United States.
[ 1998-08-05 ]
1997: Third record year in succession
Gross premium income + 21.0%; life and health reinsurance + 75.3%;
investments + 20; investment result in excess of DM 1 billion for the first time (+ 23.8%); Skandia acquisition completed;
return on equity 15.9%;
fifth dividend increase in a row;
market capitalization more than doubled
[ 1998-06-30 ]
Acquisition of Skandia International portfolio successfully completed
The Swedish supervisory office has approved the portfolio transfer agreed with Skandia International on 22 September 1997. The complex transaction required the approval of more than 100 government and supervisory agencies worldwide.
[ 1998-06-04 ]
Hannover Re steps up in Financial Reinsurance
Hannover Re is firmly resolved to expand substantially its strategic business segment of financial reinsurance in which it has and holds a leading position since the late 70ies.
[ 1998-06-04 ] Provisional result for 1997
With a 12.9% increase in the profit for the year to DM 122 million, the Hannover Re Group anticipates its third successive record result. The news was announced by Wilhelm Zeller, Chairman of the Executive Board, at a press conference in Frankfurt. more
[ 1998-04-30 ]
The Hannover Re Group in 1998: Successful renewal
The Hannover Re Group in 1998: Growth in life/health and financial reinsurance more than offsets the decline in property/casualty reinsurance.
[ 1998-04-16 ]
Hannover Re completes first-ever life reassurance transaction with capital markets
Hannover Re has succeeded in transferring acquisition costs from life reassurance contracts into capital markets.
[ 1998-01-15 ]
Hannover Re shares head the list of European insurance stocks
The generally successful 1997 stock market year was particularly pleasing for Hannover Re shareholders
[ 1997-12-16 ]
A.M. Best confirms top rating for Hannover Re
The US rating agency A.M. Best has confirmed the financial strength and solvency of both Hannover Re and its subsidiary E+S Rück.
[ 1997-10-17 ]
Hannover Re share now also traded in the USA
Hannover Re is the first German reinsurer to trade its shares in the USA in the form of American Depositary Receipts (ADR).
[ 1997-10-06 ]
Hannover Re ratings confirmed following acquisition of Skandia International's portfolio
Following Hannover Re's acquisition of the active portfolio of Skandia International Insurance Company, Stockholm, the US rating agencies Standard & Poor's and A.M. Best
[ 1997-09-22 ]
Hannover Re acquires Skandia International's Portfolio
With effect from 1.1.1997, the Hannover Re Group acquired the entire portfolio of life and health reinsurance, facultative reinsurance and aviation/aerospace direct insurance of Skandia International Insurance Company, Stockholm.
[ 1997-08-22 ]
Hannover Re with innovative dividend policy
This year, Hannover Re will again be distributing the entire after-tax profit for the financial year to shareholders. Shareholders will be able to choose whether they prefer to receive the traditional cash dividend or a stock dividend along US lines in the form of new shares. The new dividend system enables shareholders to finance new Hannover Re shares without paying in additional funds.
[ 1997-08-06 ]
Personnel information
Dirk Lohmann (38) has requested the Supervisory Boards of Hannover Rückversicherungs-AG and E+S Rückversicherungs-AG to grant him a premature discharge from his contractual obligations in order to be able to take up other tasks within the industry. Lohmann joined the company in 1980, and had been a member of the Executive Board since 1994; his areas of responsibility included North America, financial reinsurance and marine/aviation business.
[ 1997-08-06 ]
1996: New record year for Hannover Re
Hannover Re, the fifth-largest reinsurer in the world, reported new record results for the 1996 financial year. As stated by Wilhelm Zeller, Chairman of the Executive Board, at the press briefing on the annual results in Hannover, the Group's after-tax profit for the financial year recorded another year-on-year improvement to reach DM 108 million.
[ 1997-07-30 ]
Hannover Re hardly affected by Oder floods
The flooding along the banks of the river Oder in eastern Germany are causing increasingly heavy losses with damage running into billions of German marks.
[ 1997-07-22 ]
Hannover Re opens office in China
Effective 16 July 1997 Hannover Re has received official approval from the People's Bank of China to open a Representative Office in Shanghai. With the abolition of the old monopoly in the Chinese insurance market, China has been a priority market for the world's fifth-largest reinsurer ever since last year
[ 1997-07-17 ]
Flooding in Poland and the Czech Republic
The extreme flooding in parts of Poland and the Czech Republic has resulted in severe damage. In Moravia and northern Bohemia the damage to the local economy has so far run into billions of crowns.
[ 1997-07-05 ]
1996: Hannover Re expects another record year
Hannover Re expects to increase its 1996 group profit before tax by 36% to 158m DEM.
[ 1997-07-02 ]
Excellent 1996 results for Irish Subsidiaries
The Irish Subsidiaries of the Hannover Re Group, Hannover Re (Ireland) Ltd. and E+S Re (Ireland) Ltd., report another very successful year 1996
[ 1997-04-10 ]
Successful renewal of business under difficult conditions
Slight growth in 1997 despite keen competition; Niches in market secure profitability.
[ 1997-03-07 ]
A new manual for "Dread Disease" insurance products
Following the successful launch of the "Dread Disease" insurance product in Great Britain a few years ago, i.e. a product that can insure against serious illnesses, E+S Rück, a subsidiary of Hannover Re, have developed a new enhanced personal accident insurance product for the German market.
[ 1997-01-31 ]
Very favourable business development in 1996
Hannover Re shares upgraded - Analysts have changed their recommendation from 'neutral' to 'outperformer'
[ 1997-01-13 ] Floods in the U.S.A. once again
more
[ 1996-11-29 ]
Hannover Re improves its leading position in the area of alternative risk transfers
Portfolio-Linked Swap finalized with North American institutional investors. In August 1992 Hurricane Andrew caused an enormous insurance loss in southern Florida.
[ 1996-11-12 ] Collision of Two Jets near New Delhi
more
[ 1996-11-01 ]
Hannover Re strongly represented at the largest insurance conference in the U.S.A.
Hannover Re strengthens its position in the U. S. market at NAII Conference in San Francisco.
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