Hannover Re Group - Press Releases

[ 2012-05-03 ] Hannover Re: Annual General Meeting adopts all proposed resolutions The General Meeting approved the proposal of the Executive Board and Supervisory Board to distribute a gross dividend for the 2011 financial year of EUR 2.10 per share. more

[ 2012-05-03 ] Interim Report 1/2012: Hannover Re reports sharply higher premium income and profitability

Gross premium: + 11.7%
Net premium: + 13.1%
Book value per share + 7.8% to EUR 44.45
Good underwriting results from both business groups
Net burden of major losses well below expected level: EUR 60.6 million (EUR 572.1 million)
Very good investment income of EUR 440.6 million (EUR 392.0 million)
Operating profit (EBIT): EUR 393.2 million (EUR 47.4 million)
Exceptionally good Group net income: EUR 261.3 million (EUR 52.3 million)
Earnings per share: EUR 2.17 (EUR 0.43)
Return on equity: + 20.2%

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[ 2012-03-14 ] Annual Report 2011: Hannover Re beats return on equity target

Pleasing Group net income despite considerable major losses: EUR 606.0 million (EUR 748.9 million)
Overall premium growth + 5.8% (currency-adjusted + 7.5%)
Book value per share + 10.2%
Return on equity: 12.8%
Strong cash flow of EUR 2.5 billion (EUR 1.7 billion)
Investments under own management + EUR 2.9 billion to EUR 28.3 billion
Investment income improves to EUR 1.4 billion (EUR 1.3 billion)
Net expenditure on major losses: EUR 980.7 million (EUR 661.9 million)
Operating profit (EBIT): EUR 841.4 million (EUR 1.2 billion)
Dividend proposal for 2011: EUR 2.10 (EUR 2.30)

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[ 2012-02-01 ] Hannover Re satisfied with outcome of treaty renewals as at 1 January 2012

Strong underwriting discipline prompts hardening trend on non-life reinsurance market
Significant price increases, especially in property catastrophe business, owing to heavy loss expenditure in 2011
No further rate erosion in casualty business

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[ 2012-01-26 ] Hannover Re enables capital market to participate in insurance risks Hannover Re has again enabled the capital market to participate in (natural) catastrophe risks. The proportional retrocession programme referred to as the "K Cession" was increased by around USD 20 million to USD 350 million. more

[ 2012-01-23 ] Hannover Re estimates burden of losses for wrecked Costa Concordia The total loss for Hannover Re – as a leading marine reinsurer – could be in the mid-double-digit million euro range. more

[ 2012-01-09 ] Hannover Re assumes portfolio of longevity risks in the United Kingdom The reinsured portfolio consists of pension obligations assumed by the insurer Legal & General for some 11,500 employees of the UK industrial enterprise Pilkington with a volume of around GBP 1 billion. more

[ 2011-12-29 ] Wolf Becke retires After serving almost 20 years as a member of the Executive Board of the Hannover Re Group, Wolf Becke is retiring on 1 January 2012. The strategic expansion of the group's life and health reinsurance portfolio is closely linked with Mr. Becke's name. more

[ 2011-11-09 ] Interim Report 3/2011: Hannover Re confirms profit target for 2011

Gross premium: + 6.0% (+ 8.1% at constant exchange rates)
Net burden of major losses: EUR 743.2 million (EUR 554.1 million)
Combined ratio in non-life reinsurance: 105.0%, for the third quarter in isolation 95.2%
Net investment income: EUR 950.8 million (EUR 872.2 million)
Average return on investments under own management: 3.6%
Operating profit (EBIT): EUR 487.8 million (EUR 862.0 million)
Group net income: EUR 381.7 million (EUR 582.0 million)
Earnings per share: EUR 3.16 (EUR 4.83)
Guidance for Group net income 2011: at least EUR 500 million

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[ 2011-10-24 ] Hannover Re subsidiary sees favourable business opportunities in the German market Baden-Baden Press Conference: Reinsurer E+S Rück – which bears responsibility for German business within the Hannover Re Group – is looking with optimism towards the treaty renewals as at 1 January 2012 in its domestic market. more

[ 2011-09-12 ] Reinsurance conference in Monte Carlo: Hannover Re expects price increases for the 1 January 2012 renewals In view of the heavy losses incurred by the (re-)insurance industry from natural disasters in the first quarter of 2011, Hannover Re expects the widely varying market hardening observed across the board in previous renewal phases to be sustained. more

[ 2011-08-08 ] Interim Report 2/2011: Hannover Re posts continued growth and confirms guidance

Total premium growth: + 6.4%
Net burden of major losses: EUR 625.2 million (EUR 407.6 million)
Combined ratio in non-life reinsurance: 110.3%
Net investment income: EUR 672.8 million (EUR 551.4 million)
Operating profit (EBIT): EUR 246.8 million (EUR 490.7 million)
Satisfactory Group net income: EUR 218.5 million (EUR 310.6 million)
Earnings per share: EUR 1.81 (EUR 2.58)
Guidance for Group net income 2011 unchanged: approximately EUR 500 million

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[ 2011-08-08 ] Hannover Re appoints new member of the Executive Board The Supervisory Board of Hannover Re has appointed Claude Chèvre as a full member of the Executive Board. He will take up his duties effective 1 February 2012 at the latest. more

[ 2011-05-03 ] Hannover Re: Annual General Meeting adopts all proposed resolutions Shareholders will receive a gross dividend of EUR 2.30 on each share fully paid up for the entire financial year – an increase of EUR 0.20 relative to the previous year. more

[ 2011-05-03 ] Interim Report 1/2011: Hannover Re generates quarterly profit despite heavy burden of major losses

Total premium growth: + 10.3%
Combined ratio in non-life reinsurance: 123.8% (previous year: 99.3%)
Investment income: EUR 392.0 million (EUR 279.5 million)
Operating profit (EBIT): EUR 46.1 million (EUR 238.8 million)
Quarterly net income: EUR 52.3 million (EUR 151.0 million)
Earnings per share: EUR 0.43 (EUR 1.25)
Net burden of major losses: EUR 572 million (EUR 264 million)
Forecast for Group net income 2011: roughly EUR 500 million

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[ 2011-04-18 ] Hannover Re acquires reinsurance portfolio from Scottish Re The portfolio covers the mortality risk under term life and endowment policies that were reinsured by Scottish Re in the underwriting years 2000 to 2003. more

[ 2011-03-23 ] Hannover Re anticipates loss expenditure in the order of EUR 250 million from the Japan earthquake In view of the complexity of the event, reliable information on the total market loss for the insurance industry is not yet available. Any assessment of the loss amount is therefore still subject to considerable uncertainty. more

[ 2011-03-09 ] Annual Report 2010: Hannover Re generates record result in 2010

Overall premium growth +11.2%
Combined ratio in non-life reinsurance: 98.2% (96.6%)
Net expenditure on major losses EUR 661.9 million (EUR 239.7 million)
Investment income improves to EUR 1.3 billion (EUR 1.1 billion)
Operating profit (EBIT): EUR 1.2 billion (EUR 1.1 billion)
Group net income: EUR 748.9 million (EUR 733.7 million)
Earnings per share: EUR 6.21 (EUR 6.08)
Return on equity: 18.2%
Increased dividend proposal for 2010: EUR 2.30 (EUR 2.10)

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[ 2011-03-04 ] Loss estimate for Hannover Re from the Christchurch earthquake Hannover Re anticipates a net loss burden of some EUR 150 million for the earthquake in the New Zealand city of Christchurch on 22 February 2011. more

[ 2011-02-02 ] Hannover Re boosts premium by 2% in 1 January treaty renewals

Demand for reinsurance stable
Treaty renewals see modest premium growth
Sharp rate increases in offshore energy and European motor liability business
Rate softening in catastrophe business
Profit target for 2011 confirmed

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[ 2011-01-11 ] Business conditions for Hannover Re now improved in the state of New York too New York insurance regulator reduces collateral requirements for Hannover Re. more

[ 2010-12-22 ] Hannover Re sells Clarendon Hannover Re reached agreement on the sale of all operational companies of its US subsidiary Clarendon Insurance Group, Inc., New York, to the Bermuda-based Enstar Group Ltd., Hamilton. more

[ 2010-11-29 ] Hannover Re insures energy savings guarantees in the United States In cooperation with the US company Energi, Hannover Re has developed an insurance product for businesses, municipalities and homeowners. The financing of energy efficiency concepts can now be secured through the so-called "Energy Savings Warranty Program". more

[ 2010-11-10 ] Interim Report 3/2010

Hannover Re posts vigorous growth and raises profit target

Gross premium surges by 11.5%
Major loss burden still higher than the expected level
Pleasing Group net income: EUR 582.0 million
Profit target for 2010 raised to more than EUR 700 million

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[ 2010-10-25 ] Outlook for treaty renewals as at 1.1.2011: Hannover Re subsidiary anticipates stable prices in Germany E+S Rück – which bears responsibility for German business within the Hannover Re Group – considers the general environment on its domestic market to be broadly favourable. more

[ 2010-09-28 ] Improved business conditions for Hannover Re (Bermuda) Ltd. Insurance regulator in Florida reduces collateral requirements for Hannover Re (Bermuda) Ltd. more

[ 2010-09-23 ] Hannover Re to sponsor the Global Earthquake Model initiative Hannover Re and the GEM (Global Earthquake Model) Foundation are pleased to announce their partnership agreement. Hannover Re will contribute 1 million euro and technical expertise to the creation of the first global open-source earthquake risk model, which will provide a full spectrum of users with uniform information on seismic hazard, seismic risk and the socio-economic impacts of earthquakes. more

[ 2010-09-09 ] Worldwide Reinsurance Awards The prestigious international trade journal "The Review" recognised the achievements of Hannover Re in the field of life reinsurance in recent years. more

[ 2010-09-07 ] Hannover Re successfully issues hybrid bond Hannover Re has today successfully placed a EUR 500 million subordinated bond on the European capital market via its subsidiary Hannover Finance (Luxembourg) S.A. more

[ 2010-08-11 ] Hannover Re appoints new member of the Executive Board Dr. Klaus Miller was appointed as a full member of the Executive Board with effect from 1 September 2010. In concert with Dr. Wolf Becke, Dr. Miller will lead the life and health reinsurance business group of the Hannover Re Group (Hannover Life Re), assuming market responsibility for Northern and Central Europe. more

[ 2010-08-10 ] Interim Report 2/2010

Hannover Re delivers good result for the first half-year 2010

Net premium rises by 7.9%
Satisfactory Group net income: EUR 310.6 million
Profit forecast for the full financial year confirmed: Group net income of around EUR 600 million expected

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[ 2010-05-04 ] Annual General Meeting adopts all proposed resolutions Shareholders will receive a gross dividend of EUR 2.10 on each share fully paid up for the entire financial year. more

[ 2010-05-04 ] Interim Report 1/2010

Hannover Re starts the new financial year on a positive note

Net premium rises by + 9.5%
Burden of catastrophe losses higher than expected level
Good investment income: + 41.0%
Satisfactory Group net income: EUR 157.2 million
Shareholders' equity: + 10.0%
Forecast for the full financial year reaffirmed: return on equity of at least 15%

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[ 2010-04-28 ] Moderate loss for Hannover Re from the sunken drilling rig On the basis of a conservative evaluation of the current – still vague – information, the Group is expecting a net loss of approx. EUR 40 million. more

[ 2010-03-11 ] Hannover Re posts very pleasing result for the 2009 financial year

Overall premium growth + 26.5%
Combined ratio in non-life reinsurance: 96.6% (95.4%)
Investment income sharply higher at EUR 1.1 billion (EUR 278.5 million)
Operating profit (EBIT) surpasses EUR 1 billion for the first time
Group net income: EUR 731.2 million
Earnings per share: EUR 6.06
Return on equity: 22.4%
Dividend proposal for 2009: EUR 2.10

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[ 2010-03-01 ] Hannover Re enters into long-term letter of credit facility to expand its life and health business Hannover Re announced today that it has concluded a USD 500 million long-term letter of credit facility with Deutsche Bank. This facility will enable Hannover Re to make the most of further attractive growth opportunities in the US reinsurance market. more

[ 2010-02-03 ] Hannover Re satisfied with 1 January treaty renewals in non-life reinsurance

Steady demand for reinsurance
Modest premium growth for 2010
Return on equity target for 2010: at least 15%

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[ 2010-01-27 ] Hannover Re increases its "K6" capital market transaction Hannover Re has given the capital market another opportunity to participate in (natural) catastrophe risks. more

[ 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. more

[ 2009-11-06 ] Interim Report 3/2009: Hannover Re presents very pleasing interim result

Gross premium + 25.6% on the back of stronger demand and ING acquisition
Net premium + 30.3% due to increased retention
Net investment income + 129.6%
Group net income EUR 578.4 million
Moderate burden of catastrophe losses
Combined ratio 96.8%
EBIT margin comfortably beats target
Profit target for 2009 raised to at least EUR 5.75 per share
Dividend of at least EUR 2 envisaged for 2009

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[ 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. more

[ 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. more

[ 2009-09-25 ] Reactions Global Awards 2009: Hannover Re honoured with two awards Hannover Re was the proud recipient of two awards yesterday evening in New York: "Best Global Reinsurance Company" and "Best Global Reinsurance Company for Specialty Lines". more

[ 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. more

[ 2009-08-06 ] Interim Report 2/2009: Hannover Re reports very pleasing result for the first half of 2009

Gross premium + 26.7%
Net investment income +27.9%
Operating profit (EBIT) +49.9%
Group net income +66.1%
Annual targets within reach

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[ 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. more

[ 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. more

[ 2009-05-05 ] Interim Report 1/2009: Hannover Re records gratifying interim result

Net premium climbs 24.6% due to acquisition of the ING life portfolio, an increased retention and effects of the hardening market
Burden of catastrophe losses within the expected bounds
Combined ratio 95.0%
Operating profit (EBIT) + 24.5%
Group quarterly net income + 42.7%

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[ 2009-05-05 ] Annual General Meeting approves all proposed resolutions The Ordinary General Meeting of Hannover Re today approved all proposed resolutions by a large majority. more

[ 2009-03-11 ] Annual Report 2008: Hannover Re enters the new financial year in optimistic mood

2008 financial year overshadowed by the financial market crisis
Net investment income: 278.5 million euro (1,121.7 million euro) due to write-downs and losses realised on equities of 640.9 million euro
Combined ratio in non-life reinsurance: 95.4% (99.7%)
Operating profit (EBIT): 148.1 million euro (928.0 million euro)
Group net loss: -127.0 million euro (Group net income: 721.7 million euro) owing to negative tax effect

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[ 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. more

[ 2009-02-03 ] Hannover Re highly satisfied with treaty renewals in non-life reinsurance

Growing demand for reinsurance
Enlarged premium volume
US property business records significant rate increases
Attractive market environment in Germany
Rate increases in catastrophe business
Credit and surety business enjoys unusually strong price rise
Return on equity target for 2009: in excess of 15%

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[ 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. more

[ 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. more

[ 2008-11-05 ] Interim Report 3/2008: Capital market crisis and above-average volume of catastrophe losses dominant factors in the result as at 30 September 2008

Operating profit (EBIT) 32.5 million euro
Group net income -142.8 million euro
Catastrophe losses 444.9 million euro
Stable ordinary investment income, but write-downs of 432.6 million euro on securities
Capital base remains solid
Good business prospects for 2009

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[ 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 more

[ 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. more

[ 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". more

[ 2008-08-07 ] Interim Report 2/2008: Capital market and exchange rate movements dampen profitability for the first half of 2008

Underwriting business performs well, volume of catastrophe losses below the expected level
Net investment income -24.1%
Operating profit (EBIT) -14.4%
Group net income -13.9%
Combined ratio 98.4%
EBIT margin in non-life and life/health reinsurance in line with target
Return on equity 16.4%

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[ 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. more

[ 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. more

[ 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 for the third time in succession. more

[ 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. more

[ 2008-05-06 ] Interim Report 1/2008: Hannover Re reports gratifying interim result

Operating profit (EBIT) + 59.3%
Group quarterly net income + 22.6%
Non-life reinsurance: EBIT almost doubled
Combined ratio 99.5%
Life and health reinsurance: EBIT margin within the target corridor
Net investment income stable despite difficult capital markets
Return on equity 18.7%

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[ 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. more

[ 2008-03-12 ] Annual Report 2007: Hannover Re generates another record result

Operating profit (EBIT) + 14.6%
Group net income + 42.6%
Return on equity 23.5%
Major loss burden in line with expectations
Book value per share + 15.6%
Proposed dividend: 1.80 euro + 50 cent bonus

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[ 2008-02-05 ] Hannover Re satisfied with 1 January treaty renewals in non-life reinsurance

Premium volume virtually stable despite incipient market softening
Focus on selective underwriting and cycle management
Market share boosted in Germany and credit & surety business
US property business largely stable with moderate rate reductions
Worldwide catastrophe business still highly profitable
Return on equity target for 2008: at least 15%

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[ 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 in June 2008. more

[ 2007-11-08 ] Interim Report 3/2007: Hannover Re reports highly satisfactory interim result

Operating profit (EBIT) +14.3%
Group net income +55.0%
Return on equity 25.7%
Outlook for the full financial year revised upwards
Dividend increase envisaged

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[ 2007-10-24 ] Hannover Re establishes life reinsurer in Bermuda The new company’s focus will be on the life, health, annuity and personal accident lines as well as the writing of blocks of in-force life reinsurance business. more

[ 2007-08-03 ] Interim Report 2/2007: Very pleasing half-yearly result

Operating profit (EBIT) + 15.8%
Group net income + 14.2%
Non-life reinsurance highly satisfactory despite significant burden of catastrophe losses (net income for the reporting period + 9.4%)
Life and health reinsurance posts excellent result (net income for the reporting period + 75.8%)
Sale of Praetorian completed in Q2
Return on equity 19.9%

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[ 2007-07-05 ] Hannover Re strengthens its presence in Bahrain Hannover Rückversicherung AG, Bahrain Branch, is expected to commence business operations at the start of the coming year and will concentrate exclusively on traditional reinsurance in the region. more

[ 2007-06-01 ] Sale of Praetorian Group to Australian insurer completed QBE's US subsidiary has acquired all shares of Praetorian. The purchase price of sightly in excess of USD 800 million is equivalent to 2.1 times Praetorian shareholders' equity excluding goodwill as at year-end 2006. more

[ 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) more

[ 2007-05-03 ] Annual General Meeting approves all proposed resolutions The roughly 1,500 participants at Hannover Re's very well attended Annual General Meeting today approved all proposed resolutions by a large majority. more

[ 2007-05-03 ] Interim Report 1/2007: Hannover Re off to a good start in the new financial year

Group net income for the quarter +16.8%
Non-life reinsurance satisfactory despite heavy burden of major losses (quarterly net income +3.8%)
Life and health reinsurance records excellent result (quarterly net income more than doubled)
Return on equity 16.6%

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[ 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. more

[ 2007-03-14 ] Annual Report 2006: Hannover Re generates best result in the company's history

Very good results in property/casualty and life/health reinsurance
Group operating profit (EBIT): 819.9 million euro
Group net income: 514.4 million euro
Earnings per share: 4.27 euro
Book value per share: + 11.4%
Return on equity 18.7%
Proposed dividend: 1.60 euro
Very good earnings prospects for 2007

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[ 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. more

[ 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. more

[ 2007-02-08 ] Hannover Re satisfied with treaty renewals

Premium volume slightly higher despite reduced exposure
German market generates premium increases of 16%
Rigorous underwriting discipline secures stable conditions
Return on equity target for 2007: at least 15%
Hannover Re to operate with two business groups from 2007 onwards: non-life reinsurance and life & health reinsurance

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[ 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. more

[ 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. more

[ 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. more

[ 2006-12-08 ] Hannover Re launches subsidiary for Sharia-compliant reinsurance Hannover Re has established Hannover ReTakaful B.S.C. (c) in Manama, Bahrain, a wholly-owned subsidiary for the underwriting of worldwide reinsurance in conformity with Islamic law (so-called retakaful business). more

[ 2006-11-14 ] Interim Report 3/2006: Hannover Re reports gratifying interim result

Return on equity 18.6% after tax
All business groups on target or better than planned
Major losses in property and casualty reinsurance only 3.1% of net premium
Operating profit (EBIT) 707 million euro
Group net income 380 million euro
Earnings per share 3.15 euro
Book value per share +9.4% since the turn of the year
Profit forecast for 2006 raised

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[ 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. more

[ 2006-09-07 ] Flaspöhler 2006 US Broker Survey: Hannover Re best reinsurer overall in North America In a survey conducted by the widely respected US-based Flaspöhler Research Group, Hannover Re came out as the best overall reinsurer for the second time in succession. more

[ 2006-08-08 ] Interim Report 2/2006: Highly satisfactory semi-annual result for Hannover Re

Return on equity 19.9% after tax
Gross premium growth +12.8%
Major losses in property and casualty reinsurance just 2.7% for net account
Operating profit (EBIT) +29.7%
Group net income +4.2%
All four business groups generate satisfactory return on equity

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[ 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. more

[ 2006-05-12 ] Interim Report 1/2006: Hannover Re starts the new financial year on a positive note

Growth in gross premium income +8.9%
Operating profit (EBIT) +38.6%
Net income for the quarter +7.6%
All four business groups generate positive result above the cost of capital
Return on equity 16.2%

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[ 2006-05-12 ] Annual General Meeting approves all proposed resolutions The very well attended Annual General Meeting of Hannover Re – with around 1,500 participants – today approved all proposed resolutions by a large majority. more

[ 2006-03-23 ] Annual Report 2005: Hannover Re achieves breakeven result for 2005 despite historically unprecedented natural catastrophe losses

Net burden of catastrophe losses in property and casualty reinsurance unchanged from Q3/2005
Policyholders' surplus +10.1%
Net investment income (excluding interest on deposits) +11.8%
Very good earnings prospects for 2006

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[ 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. more

[ 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. more

[ 2006-02-07 ] Hannover Re satisfied with renewal season

Stable premium despite reduced risks
Rate increases: up to 100% and more in hurricane-exposed regions, up to 200% in marine business, other segments stable
New pricing models implemented on the market
Return-on-equity target for 2006: at least 15%

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[ 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. more

[ 2006-02-01 ] Rod Fox to lead Hannover Re's US specialty insurance operations as CEO of Clarendon Group

Former CEO of Benfield U.S. brings 20-year track record of building insurance businesses and deep familiarity with Clarendon’s operations
Steven Najjar appointed CEO of Hannover Finance Inc.

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[ 2005-11-10 ] Interim Report 3/2005: Result adversely impacted by exceptionally heavy losses

Property and casualty reinsurance in positive territory despite extreme burden of natural catastrophe losses
Life and health reinsurance with very healthy profit contribution
Net investment income +8.3%
First-time reporting in accordance with IFRS

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[ 2005-09-02 ] Hannover Re heavily impacted by Hurricane "Katrina"

Return on equity after tax will remain in double digits

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[ 2005-08-11 ] Interim Report 2/2005: Hannover Re reports gratifying interim result

Growth in net premiums + 6.2%
Net income for the first half-year + 8.3%
Stockholders' equity + 12.3%
Return on equity 16.9%
All four business groups deliver positive profit contributions
Combined ratio in property and casualty reinsurance 96.5%

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[ 2005-06-14 ] Annual General Meeting approves all proposed resolutions The roughly 1,500 participants at Hannover Re's very well attended Annual General Meeting today approved all proposed resolutions by a substantial majority. more

[ 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. more

[ 2005-05-12 ] Interim Report 1/2005: Hannover Re posts another highly gratifying quarterly performance

Gross premium growth + 6.2%
Operating profit (EBIT) + 16.2%
Quarterly net income + 11.1%
All four business groups with positive results
Combined ratio in property and casualty reinsurance 97.1%

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[ 2005-05-12 ] Hannover Re issues further hybrid capital

Making use of the current attractive interest rate environment
Exchange of an existing outstanding subordinated debt issue
Long-term optimisation of the company's capital base

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[ 2005-03-29 ] Annual Report 2004: Very good result in a difficult year

Return-on-equity target surpassed again despite hurricanes: 12.5%
Proposed dividend: + 5.3% to 1.00 euro

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[ 2004-11-11 ] Interim Report 3/2004: Hannover Re posts good nine-month result despite heavy burden of natural catastrophe losses

Strategy of diversification ensures return-on-equity target will be reached
Net investment income +9.3%

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[ 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 windstorm events totalled almost EUR 340 million in the third quarter. more

[ 2004-09-09 ] The Review Award 2004: Hannover Re named "Reinsurance Company of the Year" for the third time 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". more

[ 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". more

[ 2004-08-12 ] Interim Report 2/2004: Hannover Re posts very good result for the first half-year 2004

Profits rise again with planned reduction of gross premium volume
Operating profit (EBIT) + 31.6%
Net income + 30.2%
Net investment income + 16.6%
Combined ratio in property and casualty reinsurance 94.3% (previous year: 98.6%)

more

[ 2004-07-16 ] Hannover Re goes live with second e-business product - reCover Personal Accident (PA) Online Hannover Re enhances the benefits and services offered by its e-business portal reCover more

[ 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. more

[ 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. more

[ 2004-05-17 ] Interim Report 1/2004: Hannover Re records another highly gratifying quarterly result

Vigorous surge in profitability despite considerable premium decline
Operating profit (EBIT) + 41.8%
Quarterly net income + 36.1%
Net investment income + 43.5%
Combined ratio in property and casualty reinsurance 95.4%

more

[ 2004-04-07 ] Moody's Rating

Is unsolicited and
Solely based on publicly available information

more

[ 2004-03-29 ] Annual Results 2003: Hannover Re posts outstanding result

Highest operating profit (EBIT) in company's history
Combined ratio in property and casualty reinsurance 96.0%
Financial reinsurance triples operating profit
Net income in life and health reinsurance increases by more than half
Return on investments surpasses five-percent mark
Policyholders' surplus 3.7 billion euro (previous year: 3.0 billion euro)
Return on equity 17.1% (15.7%)
Proposed dividend: + 11.8% to 95 cents a share (85 cents)

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. more

[ 2004-02-11 ] Hannover Re to issue further hybrid capital

Take advantage of the current attractive interest rate environment
Repurchase US dollar debt at highly advantageous exchange rate
Repayment of surplus debenture will help avoid significant increase in interest cost

more

[ 2003-11-26 ] Interim Report 3/2003

Hannover Re posts highly gratifying interim result: EBIT + 41.5%
Combined ratio: 97.2%
All business groups on target or better
Profit forecast for 2003 revised upwards

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". more

[ 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. more

[ 2003-08-29 ] New head of Corporate Communications Effective today Eric Schuh is to assume responsibility for Corporate Communications at Hannover Re. more

[ 2003-08-27 ] Interim Report 2/2003

Half year net income boosted by 11.0%
Profit forecast for the full year confirmed

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. more

[ 2003-06-20 ] Clarification of misinterpretations

Mr. Zeller did not declare the end of the hard market
Hannover Re has not been downgraded

more

[ 2003-06-12 ] Capital increase of around EUR 500 million through combined transaction of cash and contribution in kind

Institutional cash placing of new shares representing 10% of issued share capital
Majority shareholder will participate through EUR 310 million contribution in kind
Expansion of highly profitable financial reinsurance operations
Expanded capital base will enable Hannover Re to fully capitalise on continuously attractive property/casualty reinsurance market by increased retention

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. more

[ 2003-05-27 ] Interim Report 1/2003: Highly satisfactory quarterly result

Property and casualty reinsurance on target
All other business groups considerably better than planned
Capital market situation necessitates further write-offs

more

[ 2003-04-14 ] Annual Report 2002: Excellent result despite extremely unfavourable development of capital markets

Above-average premium growth
(8% gross, 18% net; property and casualty reinsurance 22%, program business 71% for net account)
Highest operating profit in company history
Return on equity > 15%
Dividend yield > 4%

more

[ 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. more

[ 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. more

[ 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". more

[ 2002-11-20 ] Interim Report 3/2002

Hannover Re keeps on its successful course
Property and casualty reinsurance continues to be extremely favourable
Forecast year-end profit after tax remains unchanged

more

[ 2002-11-14 ] 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. more

[ 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. more

[ 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. more

[ 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". more

[ 2002-09-02 ] Hannover Re's losses from flood catastrophe within the multi-year average Flooded areas of Central and Eastern Europe: After tax Hannover Re's loss is unlikely to exceed EUR 50 million. more

[ 2002-08-21 ] Interim Report 2/2002

Gratifying first half-year 2002
EBIT +32%
Net income +23%
Gross written premiums +36%
Profits forecast for the year as a whole confirmed

more

[ 2002-07-31 ] Profit forecast for 2002 unchanged

Neither the WTC losses nor the US business create a need for additional reserves
Only a moderate decrease in net investment income
Underwriting result according to plan

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 in a ratio of 3:1. more

[ 2002-07-01 ] New Appointment for Corporate Communication Dr. Lutz Köhler (42) assumes responsibility for Corporate Communications with effect of July 1st 2002. more

[ 2002-05-24 ] Interim Report 1/2002

Quarterly net income more than doubled
Record result forecast for 2002

more

[ 2002-04-25 ] Annual Report 2001: Net income generated despite extraordinary losses associated with 11 September

Property and casualty reinsurance heavily impacted, all other business segments on target or above
Net embedded value of the life and health reinsurance portfolio surpasses EUR 1 billion for the first time
Stronger demand causes premium income in financial reinsurance to double
Program business on the upswing again

more

[ 2002-04-02 ] Hannover Re enhances its position for an upswing in the market - Further transfer of large-scale risks into capital 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. more

[ 2002-01-31 ] Interim Report 3/2001

Excluding the effect of the terrorist attacks of 11 September the results for the first nine months of 2001 fulfilled Hannover Re's expectations
Good prospects for 2002

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. more

[ 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. more

[ 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. more

[ 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. more

[ 2001-10-30 ] 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

more

[ 2001-09-24 ] 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. more

[ 2001-09-13 ] Horrified by the acts of terror in the USA: Hannover Re will endeavour to settle claims quickly On the basis of the information currently available to date, Hannover Re estimates a EUR 400m negative effect on its 2001 results. 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". more

[ 2001-08-30 ] Board member takes the helm at Clarendon - New appointments to the Executive Board With effect from 1 January 2002, Dr. Steiner will assume the function of Chief Executive Officer of Clarendon Insurance Group. With effect from 1 September 2001, the Supervisory Board of Hannover Re has appointed André Arrago and Ulrich Wallin as deputy members of the Executive Board. more

[ 2001-07-20 ] Annual General Meeting / Interim Report 1/2001 Hannover Re Group's first quarterly report presented; Annual General Meeting approved all the items on the agenda by a large majority. more

[ 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. more

[ 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

more

[ 2001-06-01 ] New Chief Financial Officers for HDI and Hannover Re 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. The Supervisory Boards of Hannover Rückversicherungs-AG and E+S Rückversicherungs-AG have appointed Dr. Elke König (47) as his successor. more

[ 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. more

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

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

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. more

[ 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. more

[ 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. more

[ 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´. more

[ 2001-01-18 ] New Appointment for Investor Relations and Public Relations Ralf Arndt (32) is to assume responsibility for Corporate Communications at Hannover Re. His predecessor Roland Vogel will be in charge of the Finance and Accounting division with effect from April 1st, 2001. more

[ 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". more

[ 2000-07-20 ] Favourable business development in the current year to date 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. more

[ 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. more

[ 2000-06-06 ] Hannover Re continues successful performance

Gross premium income + 49%
Life and Health reinsurance + 58%
Financial reinsurance + 38%
First-time consolidation of Clarendon with profit contribution
Consolidated net income and earnings per share + 18%
Return on equity 24% before and 17% after tax
Sixth consecutive dividend increase

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. more

[ 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. more

[ 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. more

[ 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. more

[ 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. more

[ 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. more

[ 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. more

[ 1999-10-20 ] Repositioning of life and health reinsurance

Organizational restructuring
Creation of a new trademark
Partial relocation of activities to Dublin

more

[ 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. more

[ 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). more

[ 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. more

[ 1999-04-22 ] Hannover Re Group in 1999: Successful diversification ensures overall growth and favourable earnings prospects 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. more

[ 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 recoverables held by Clarendon Insurance Group, New York, against the reinsurers in the Unicover Pool. Despite press reports to the contrary, neither Hannover Re nor any of its subsidiaries is a reinsurer of the Unicover Pool. more

[ 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. more

[ 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. more

[ 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. more

[ 1998-11-30 ] First joint presence of Hannover Re and Clarendon at the NAII Hannover Re again used the NAII meeting to enhance its position in its most significant foreign market. more

[ 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. more

[ 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". It also received the "Innovation of the Year" award. more

[ 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%. This share was purchased by Württembergische Gemeinde-Versicherung a.G. (WGV) more

[ 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. more

[ 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 more

[ 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. more

[ 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. more

[ 1998-06-04 ] Provisional result for 1997

Third record result in succession
fifth consecutive dividend increase

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. more

[ 1998-04-15 ] 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. The three-year DEM 100 million multi-currency transaction L1 closed at the beginning of April in Dublin. more

[ 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; The share price outperformed all relevant indices, posting an increase in value of 139%. more

[ 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. more

[ 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). more

[ 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 have confirmed their second-highest ratings. more

[ 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. more

[ 1997-08-28 ] 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. more

[ 1997-08-06 ] Personnel information Hannover, 6 August 1997: 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. more

[ 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. more

[ 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. more

[ 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. more

[ 1997-07-17 ] Flooding in Poland and the Czech Republic One third of the Czech Republic under water; Heavy losses for domestic insurers and international reinsurers more

[ 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 more

[ 1997-06-05 ] 1996: Hannover Re expects another record year Hannover Re expects to increase its 1996 group profit before tax by 36% to 158m DEM. more

[ 1997-04-10 ] Successful renewal of business under difficult conditions Slight growth in 1997 despite keen competition; Niches in market secure profitability. more

[ 1997-03-07 ] A new manual for "Dread Disease" insurance products For ensuring against dread diseases, even in the field of personal accident insurance; The manual makes it easier for primary insurers to assess risk more

[ 1997-01-31 ] Very favourable business development in 1996 Double-digit dividend increase planned; Hannover Re shares upgraded from 'neutral' to 'outperformer' more

[ 1997-01-13 ] Floods in the U.S.A. once again

New Year brings floods to the Western United States
Hannover Re only marginally affected

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. more

[ 1996-11-12 ] Collision of Two Jets near New Delhi

350 Deaths
The Third Worst Civil Air Disaster

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. more

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