[ 2013-05-07 ]
Interim Report 1/2013: Hannover Re makes a good start to the 2013 financial year
- Gross premium: + 7.0%
- Net premium earned: + 9.4%
- Book value per share increased to EUR 52.18 (31 December 2012: EUR 50.02)
- Operating profit (EBIT): EUR 352.5 million (EUR 393.2 million)
- Group net income: EUR 221.4 million (EUR 261.3 million)
- Satisfactory investment income: EUR 354.7 million (EUR 440.6 million)
- Net major loss expenditure very low at EUR 13.4 million (EUR 60.6 million)
- Underwriting result in non-life reinsurance doubled: EUR 98.1 million (EUR 46.8 million)
- Return on equity: 14.4%
Interim report, first quarter, 2013, 1st quarter, Q1/2013, financial report
[ 2013-03-19 ]
Hannover Re completes its conversion to an SE
Hannover Re has completed its conversion to a European Company, Societas Europaea (SE). With the entry in the commercial register of Hannover County Court the transformation to the new legal form came into effect today. The company thus bears the name Hannover Rück SE. The company's registered office continues to be in Hannover.
SE, Societas Europaea
[ 2013-03-07 ]
Annual Report 2012: Hannover Re achieves record result and increases dividend
- Group net income: EUR 858.3 million (EUR 606.0 million)
- Premium growth + 13.9% (currency-adjusted + 9.5%)
- Book value per share + 21.8%
- Return on equity: 15.6% (12.8%)
- Investment income rises to EUR 1.7 billion (EUR 1.4 billion)
- Net major loss expenditure: EUR 477.8 million (EUR 980.7 million)
- Combined ratio: 95.8% (104.3%)
- Increased dividend proposal for 2012: EUR 2.60 (EUR 2.10 ) + EUR 0.40 bonus per share
Annual results 2012, full-year results, annual, financial group report
[ 2013-02-04 ]
Hannover Re enjoys solid treaty renewals in competitive environment
- Hannover Re maintains good rate quality in treaty renewals as at 1 January 2013
- Prices slightly improved due to rate increases in loss-impacted areas
- Appreciable rate increases in marine business following losses in 2012
- Pleasing renewals in North America
- Premium volume in non-proportional business selectively expanded
- Good result expected for 2013
Renewals, rates and conditions 2013
[ 2013-01-14 ]
Profit forecast unchanged despite "Sandy"
Based on a detailed analysis of its non-life reinsurance portfolio, Hannover Re anticipates a net burden of losses in the amount of EUR 261 million from Hurricane Sandy.
Sandy, hurricane, storm, loss expectation, loss burden, net loss
[ 2012-11-13 ]
Hannover Re successfully issues hybrid bond
Hannover Re has today successfully placed a new EUR 500 million subordinated bond in the European debt capital markets via its subsidiary Hannover Finance (Luxembourg) S. A.
[ 2012-11-06 ]
Interim Report 3/2012: Hannover Re generates strong growth and doubles operating profit (EBIT) as at 30 September 2012
- Gross premium: + 13.6%
- Net burden of major losses: EUR 193.0 million (previous year: EUR 743.2 million)
- Combined ratio in non-life reinsurance: 96.5% (105.0%)
- Investment income: EUR 1,208.8 million (EUR 950.8 million)
- Operating profit (EBIT): EUR 1,016.8 million (EUR 490.8 million)
- Group net income: EUR 670.8 million (EUR 381.7 million)
- Earnings per share: EUR 5.56 (EUR 3.16)
- Book value per share: EUR 49.12 (EUR 41.22)
- Forecast Group net income for 2012: in excess of EUR 800 million
Interim results 3/2012, third quarter, quarterly report, financial, 3rd
[ 2012-09-06 ]
Hannover Re crowned "Reinsurance Company of the Year"
"Insurance Day", the prestigious UK daily for the global insurance industry, named Hannover Re "Reinsurance Company of the Year" at its annual awards ceremony.
Award, Reinsurance Company of the year, Insurance Day
[ 2012-08-10 ]
Interim Report 2/2012: Hannover Re reports very good half-yearly result
- Gross premium: + 14.0% to EUR 6.9 billion
- Considerable improvement in non-life and life/health reinsurance
- Net burden of major losses significantly lower than expected at EUR 132.4 million
- Very good investment income of EUR 709.5 million (previous year: EUR 672.8 million)
- Operating profit (EBIT): EUR 597.2 million (EUR 248.9 million)
- Very good Group net income: +85.5% to EUR 405.3 million (EUR 218.5 million)
- Earnings per share: EUR 3.36 (EUR 1.81)
- Book value per share: + 10.1% to EUR 45.37
- Return on equity: 15.5% (9.9%)
Interim Results, Interim Report 2/2012, half-year financial report, quarterly report
[ 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%
Interim report, results, financial, quarterly, first quarter, 1/2012
[ 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)
Annual report, annual results, group report, financial year, 2011
[ 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.
Dr. Becke, Wolf, retirement, life and health
[ 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
Interim Report, Interim Results, financials, quarterly report, third 3rd quarter 2011, 3/2011
[ 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
Interim Results 2/2011, half-year results 2011, financial report 2/2011, quarterly report, second quarter 2011
[ 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.
Executive Board Member, Claude Chèvre, Chevre, HLR, Life and Health
[ 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
Interim Results, report, 1/2011, first quarter 2011, quarterly report, financial report
[ 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)
Annual report, annual results, 2010
[ 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.
Clarendon, program business, specialty insurance, sale, Enstar, Bermuda
[ 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".
Energy saving, Energi, Inter Hannover
[ 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
Interim Results, report, 3/2010, third quarter, quarterly results
[ 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.
earthquake, seismic hazards, Model, GEM Foundation
[ 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.
The Review Award 2010, Life Reinsurer of the year
[ 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.
bond, hybrid capital
[ 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.
Dr. Klaus Miller, personnel, executive board member
[ 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
interim results, half-year report, quarterly report, second quarter, 2/2010
[ 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%
Interim results 1/2010, first quarter, quarterly report
[ 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
Annual Results, Annual Report, 2009, Financial Report, Financial Results
[ 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.
Corporate Communications, Karl Steinle
[ 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
Interim Report, Results, 3/2009, third quarter, Q3
[ 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.
Eurus, windstorm risk, Europe, cat bond
[ 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.
Wilhelm Zeller retirement
[ 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%
Interim Results 1/2009, quartery report, first quarter 2009
[ 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
Annual Report, annual results 2008
[ 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.
Scottish Re, ING, life portfolio acquisition
[ 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%
Renewals, Non-life treaty
[ 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".
Lifetime achievement, Reinsurance Company of the Year, The Review Award 2008, Wilhelm Zeller
[ 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.
Hannover Re, GIC Re, India
[ 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%
Interim results, interim report, quarterly report
[ 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 ]
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
Annual results, 2007, financial results, annual report
[ 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%
Renewals, 2008, non-life
[ 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.
Hannover Life Re Bermuda
[ 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%
interim report, interim results, 2/2007, half-yearly financial report, financial results, second quarter 2007, quarterly report
[ 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.
Bahrain, branch office
[ 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.
Praetorian, sale, QBE
[ 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%
Interim results, quarterly results, interim report, 1/2007, first quarter
[ 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
annual results 2006, financial statement 2006
[ 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
Renewals 2006/2007, Renewal season, treaty renewal
[ 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.
Securitisation, underwriting capacity, natural catastrophes, K5, transfer of reinsurance risks into the capital market
[ 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
Interim Results 3/2006, Quarterly Report 3/20006, results third quarter
[ 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.
China, licence, life and health reinsurance, CIRC, Shanghai
[ 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
Interim Results 2/2006, second quarter 2006, half year report 2006, quarterly report 2/2006
[ 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%
Press Release, Renewals, 2006
[ 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
- Life and health reinsurance with very healthy
- Net investment income +8.3%
- First-time reporting in accordance with IFRS
Press Release, Interim Report, third quarter 2005, 3/2005, quarterly report, results, quarterly results, IFRS, US GAAP
[ 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%
Press Release, Interim Report 2/2005, quarterly results, second quarter
[ 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
Hybrid Capital, hybrid capital, interest rates, capital markets, Hannover Re, press release, reinsurance, reinsurer
[ 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.
Hurricane, Jeanne, USA, accumulation of losses, typhoons, natural catastrophe, Hannover Re, reinsurance, reinsurer, press release, guidance, results 2004
[ 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".
hurricanes, Florida, Charley
[ 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%)
half year, half-year, second quarter, 2004, 2/2004, interim report, quarterly report, results 2/2004, press release, Hannover Re, reinsurance, reinsurer
[ 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.
Annual General Meeting, Hannover Re, first quarter 2004, pressrelease, press release, reinsurance, reinsurer
[ 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.
Flaspöhler Award, North America, best reinsurer, broker, survey, USA, Hannover Re, newsletter
[ 2004-04-07 ]
- Is unsolicited and
- Solely based on publicly available information
Moody's Rating, rating agency, rating, pi-rating, Moodys, newsletter, Hannover Re
[ 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)
press release, Hannover Re, annual results 2003, year-end, annual report 2003
[ 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.
Hannover Re, press release, subordinated debt issue, European capital markets, subsidiary, Hannover Finance (Luxembourg) S.A., bond Deutsche Bank, JPMorgan
The bond was priced at a spread of 163 basis points over the 10-year mid-swap rate and has a final maturity of 20 years. It may be redeemed by Hannover Re after 10 years at the earliest. If the bond is not called at the end of year 10, the coupon will step-up by 100 basis points to a floating rate yield of quarterly EURIBOR + 263 basis points.
"We are highly satisfied with the placement of the bond. By issuing additional hybrid capital we are utilising the cur
[ 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
Hybrid capital, press releases, press release
[ 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
press release, interim report 3/2003, third quarter 2003, interim results 3/2003, quarterly report 3/2003, Hannover Re
[ 2003-10-23 ]
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".
rating, Moody's, Moodys, rating agency, Hannover Re, newsletter, pi-rating
[ 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.
Reinsurer of the year, reactions, award, 2003, Hannover Re, newsletter
[ 2003-08-29 ]
New head of Corporate Communications
Effective today Eric Schuh is to assume responsibility for Corporate Communications at Hannover Re.
Corporate communications, spokesman, Eric Schuh, Dr. Lutz Köhler, newsletter, Hannover Re
[ 2003-08-27 ]
Interim Report 2/2003
- Half year net income boosted by 11.0%
- Profit forecast for the full year confirmed
Interim report 2/2003, quarterly results 2/2003, interim results 2/2003, press release, Hannover Re
[ 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.
Clarendon, Hannover Re, newsletter, Stirling Cooke
[ 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
press release, Institutional cash placing, new shares, share capital, Majority shareholder, contribution in kind, financial reinsurance, property/casualty, capital increase, stockholders' equity, authorised capital, Dresdner Kleinwort Wasserstein, Talanx AG, HDI Group, HDI Reinsurance Ireland Ltd. (HDI Re), Hannover Re, Advanced Solutions
[ 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
press release, Hannover Re, interim report 1/2003, quarterly results 1/2003, first quarter 2003
[ 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.
press release, Moody's, Rating agency, financial strength rating
[ 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.
Hannover Re, subsidiary, E+S Rück, German business, capital increase, press release
[ 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
press release, interim report 3/2002, third quarter 2002, quarterly results 3/2002, Hannover Re
[ 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.
Extraordinary General Meeting, Hannover Re, Articles of Association, capital market instruments, authorised capital, convertible bonds, warrant bonds, dividend bonds, participation rights, press release
[ 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.
rating, Hannover Re, newsletter, Standard and Poor's, S&P, rating agency
[ 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.
Hannover Re, extraordinary general meeting, capital market options, instruments, bonds, Articles of Associations, issuance, convertible bonds, warrant bonds, dividend bonds, participation rights, press release, announcement
[ 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".
press release, Hannover Re, Financial Times Deutschland, latent risks, reinsurers, investment banks, corporate bonds, loans
[ 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
half-year results 2002, interim report 2/2002, quarterly results 2/2002, second quarter 2002, press release, Hannover Re
[ 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
US business, WTC, losses, Word Trade Center, profit forecast, financial year 2002, outlook, newsletter, Hannover Re
[ 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.
Hannover Re, share, stock split, newsletter, listing
[ 2002-07-01 ]
New Appointment for Corporate Communication
Dr. Lutz Köhler (42) assumes responsibility for Corporate Communications with effect of July 1st 2002.
Corporate Communication, Dr. Lutz Köhler, appointment, newsletter, Hannover Re
[ 2002-05-24 ]
Interim Report 1/2002
- Quarterly net income more than doubled
- Record result forecast for 2002
Interim report 1/2002, first quarter 2002, interim results 1/2002, annual general meeting 2002, press release, Hannover Re
[ 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.
capital market, alternative risk transfer, ART, K3 transaction, structured financing, portfolio-linked securitization, non-proportional reinsurance covers, natural perils, hurricanes, earthquakes, wind-storms, earthquakes, aviation business, press release, Hannover Re
[ 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
interim report 3/2001, third quarter 2001, quarterly results 3/2001, press release, Hannover Re
[ 2001-12-12 ]
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.
Dr. Michael Pickel, Executive Board, deputy member, property/casualty reinsurance, Germany, Austria, Switzerland, Italy, retrocession, claims management, legal department, press release, Hannover Re
[ 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, capital stock, registered no-par value shares, capital increase, Norddeutsche Landesbank Girozentrale, press release, shareholders' equity
The new shares will be issued with a subscription ratio of 31:3 and at a subscription price of EUR 68.00 per share. The subscription price will therefore be 5.56 % lower than the closing price as at 27 November 2001. The subscription period will extend from 5 to 18 December 2001. The main shareholder, HDI, will subscribe through its intermediate holding company Talanx AG 75% of the new shares in proportion to its existing shareholding. The new shares will carry full dividend rights for the entire 2001 financial year.
[ 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.
Rating agency, Moody’s Investors Service, Inc., financial strength rating, Hannover Re, subsidiary, E+S Rück, rating, Standard & Poor’s, A.M. Best, press release, downgrade
[ 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.
Hannover Re, international pool, temperature risk, wind risk, precipitation risk, Aquila, Inc., Kansas City, weather derivatives, press release
This new market segment was pioneered three years ago in the USA and is now being developed in Germany. The market already shows a total global volume of USD 7.5 billion.
[ 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
financial year 2001, half-year report, interim report 2/2001, outlook 2001, terrorist attacks, prospects 2002, press release, Hannover Re, second quarter, quarterly report
[ 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.
losses, terror, USA, WTC, World Trade Center, newsletter, Hannover Re
[ 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.
Board member, Dr. Detlef Steiner, Clarendon, Executive Board, Jürgen Gräber, Andre Arrago, Ulrich Wallin, press release
[ 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.
Annual General Meeting 2001, first quarter 2001, financial year 2001, interim report 1/2001, AGM, press release, Hannover Re
[ 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.
Hannover Re, inreon, internet-based, reinsurance products, online, insurers, brokers, reinsurance companies, reinsurance capacity, virtual marketplace, facultative risks, E-commerce, strategy, press release
[ 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
Financial year 2000, Annual report 2000, financial report 2000, results 2000, press release, Hannover Re
[ 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.
Chief Financial Officer, CEO, Hannover Re, HDI Haftpflichtverband der Deutschen Industrie, Dr. Elke König, Herbert Haas, press release
[ 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.
Bermuda, Hannover Re, subsidiary, catastrophe business, Hannover Re (Bermuda) Ltd., property catastrophe excess of loss, catastrophe simulation model, catastrophe reinsurance market, press release
[ 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
expected results 2000, 2000 financial year, press conference, Frankfurt, renewal season, outlook 2001, press release
[ 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.
Hannover Re, hybrid capital, European capital market, subsidiary, Hannover Finance (Luxembourg) S. A. , subordinated loan, 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.
Clarendon Insurance Group, New York, Hannover Re Group, San Diego, California, IBNR reserves, results 2000, financial year 2000, press release, program business
[ 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.
Hannover Re, subsidiary, Insurance Corporation of Hannover, ICH, Los Angeles, program business, Acceptance Insurance Companies, Inc., press release
In contrast to the Hannover Re subsidiary Clarendon Insurance Group, New York, which concentrates on large programs, ICH has hitherto focused on writing small, specialised programs. This new acquisition will guarantee ICH hand-picked, profitable business and new growth potential. Furthermore, the acquisition of the business also means that ICH gains the underwriting team, who can use their expertise to further serve and expand the existing portfolio.
[ 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´.
Moodys, Moody's, Rating, rating agency, Hannover Re, newsletter
[ 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.
Corporate Communications, Investor Relations, Public Relations, appointment, Roland Vogel, Ralf Arndt, newsletter, personnel
[ 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".
Capital, Investor Relations, Award, Hannover Re, newsletter, IR award 2000
[ 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.
Annual General Meeting, AGM, financial year 2000, press release
[ 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.
Hannover Re, Hannover Reinsurance Group Africa, Johannesburg,subsidiary, Rand Merchant Bank, Veritas Re, Switzerland, newsletter
[ 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
Hannover Re, Clarendon, record result, 1999 financial year, annual financial statement, US GAAP, Generally Accepted Accounting Principles, press release, annual report 1999
[ 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.
Clarendon, results financial year 1999, program business, subsidiary, press release
[ 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.
Hannover Rückversicherungs-AG, Hannover Re, Annual General Meeting, bearer shares, registered shares, press release, German stock exchange, shareholders
By taking this action, Hannover Re, like other companies, is hoping to bring greater transparency into the shareholding structure. Wilhelm Zeller, Chairman of the Executive Board of Hannover Re, stressed that this move will make it easier to cultivate direct contact with shareholders. Overall, the detailed knowledge of the shareholding structure can be used to organize Investor Relations activities even more systematically and efficiently.
In order to implement this replacement Hannover Re will require the registered shareholders to pay the outstanding amounts on subscribed share capital totalling EUR 12.78 million no later than 31 May of this year. The call on the unpaid share capital and the subsequent listing of the existing registered shares on the German stock exchange will
[ 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.
Clarendon Insurance Group, New York, subsidiary, Hannover Re Group, Acceptance Insurance Companies, Inc., Redland Insurance Company, Iowa, acquisition, program business, strategic business segment, press release
[ 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.
anticyclical, profit-oriented, strategy, property and casualty reinsurance, Hannover Re, reinsured losses, winter storms, Lothar, Martin, major loss events, 1999 financial year, France, Germany, Switzerland, press release
[ 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.
life and health reinsurance, strategic business group, Hannover Re, newsletter, Malaysia, licenses, branch offices, Hong Kong non-life reinsurer, Sathasivam Thava Rajah, ASEAN, Thailand, Singapore, Indonesia, Philippines, David Laskey, China, Taiwan, Japan, South Korea
[ 1999-11-22 ]
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.
Hannover Rückversicherungs-AG, E+S Rück, Dr. Michael Pickel, Deputy Member, Executive Board, Hannover Re, press release
Dr. Pickel will assume responsibility for legal affairs as well as claims. Moreover, he will take on responsibility – at first jointly with Board Member Udo Schubach until his retirement – for the German market.
Dr. Pickel (39) is a lawyer and has been with Gerling Globale Re since 1989, where he has been in charge of the European non-domestic business since 1996.
[ 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.
Hannover Re, transaction, alternative risk transfer, ART, acquisition costs, life and health reinsurance, capital markets, "L3", facility, personal accident reinsurance, Asian emerging markets, securitization, natural catastrophe risks, "L1", Innovation of the Year, The Review,
block assumption transactions, portfolios
[ 1999-10-20 ]
Repositioning of life and health reinsurance
- Organizational restructuring
- Creation of a new trademark
- Partial relocation of activities to Dublin
Hannover Re, life and health reinsurance, Hannover Re Group, strategic business segment, Dr. Wolf Becke, uniform trademark, Hannover Life Re, press release
[ 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.
Y2K, year 2000, newsletter, Hannover Re
[ 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).
Hannover Re, US GAAP, reconciliation, annual accounts, Annual General Meeting, stockholders' equity, German accounting rules (HGB), international accounting standards, press release
[ 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.
Annual press conference 1999, annual results 1999, financial year 1999, annual report 1999, press release
[ 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.
Unicover, Pool, Clarendon, Hannover Re, newsletter, losses
[ 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.
Clarendon Insurance Group, New York, acquisition, Hannover Re, press release, agreement, program business
[ 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.
executive board, board member, Dr. Detlef Steiner, North American market, facultative reinsurance, claims, press release, 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.
Hannover Re, capital markets, catastrophe risks, swap commitments, market loss, hurricane, earthquake, United States, typhoon, Japan, K2 transaction, K2+, natural peril reinsurance, securitization, newsletter
[ 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.
US GAAP, United States Generally Accepted Accounting Principles, reconciliation, Group annual accounts, Annual General Meeting, German Commercial Code, German statutory accounting requirements, contingency fund, balance sheet, income statement, investment valuation, investment income recognition, underwriting adjustments, deferral of acquisition costs, depreciation, press release
[ 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.
Award, Hannover Re, Reinsurance Company of the Year, Innovation of the year, The Review, newsletter
[ 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)
Hannover Re, subsidiary E+S Rückversicherungs-AG, E+S Rück, majority holding, Württembergische Gemeinde-Versicherung a.G., WGV, Concordia, HDI, HUK Coburg, Itzehoer, KRAVAG, LVM, VHV, newsletter
[ 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.
Hannover Re, agreement in principle, acquisition, Clarendon Insurance Group, New York, Kansa International Corporation Ltd. of Helsinki, Finland, program business, United States, specialty market, Ralph Milo, press release, specialty insurance
[ 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
annual results 1997, annual report 1997, press release
[ 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.
Hannover Re, Skandia Insurance Company Ltd., Stockholm, completion, active portfolio, Skandia International Insurance Company, SIIC, press release, acquisition
[ 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.
strategic priority segments, financial year 1997, results 1997, Life and health reinsurance, financial reinsurance, acquisition, Skandia International Insurance Company, Stockholm, press release, Hannover Re
[ 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.
financial reinsurance, Hannover Re, press release, Hannover Re, strategic business segment, capital increases, new brand, Hannover Re Group, Hannover Re (Ireland) Ltd., HRI, E+S Re (Ireland) Ltd., ESI, Dublin, HDI Re (Ireland) Ltd., HDIRI, geographical diversification, non-American markets, Asia, Australia, South Africa, Advanced Solutions
[ 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.
Renewal, Hannover Re, financial year 1998, newsletter, outlook 1998
[ 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.
Hannover Re, acquisition costs, life reassurance contracts, capital markets, transaction L1, securitization, natural peril catastrophe risks, portfolio-linked swap, newsletter, alternative risk transfer
[ 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%.
Hannover Re, share, European stock market, newsletter
[ 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.
Hannover Re, rating agency, A.M. Best, rating, financial strength, newsletter
[ 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).
newsletter, Hannover Re, USA, American Depositary Receipts (ADR), HVRRY, ADRs, Morgan Guaranty Trust, depositary bank, non-US shares, over-the-counter market, OTC
[ 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.
Hannover Re Group, in-force portfolio, Skandia International Insurance Company, SIIC, Stockholm, reinsurance, Skandia Group, acquisition, Skandia Insurance Company Ltd., life and health reinsurance, facultative reinsurance, aviation, space insurance
[ 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.
Hannover Re, after-tax profit, dividend, pay-out-claw-partially-back principle, earnings, rights issue, profit appropriation, press release
[ 1997-08-06 ]
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.
personnel, executive board, board member, Dirk Lohmann, press release, Hannover Re
[ 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.
Hannover Re, results1996, 1996 financial year, annual report 1996, press release
[ 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.
financial year 1997, flooding, Oder, Germany, natural peril, natural catastrophe, newsletter, Hannover Re
[ 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.
Hannover Re, People’s Bank of China, Representative Office, Shanghai, Chinese insurance market, priority market, press release, Asia
[ 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
flooding, Poland, Czech Republic, natual perils, natural catastrophe, newsletter, Hannover Re
[ 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
results 1996, Irish subsidiaries, Hannover Re (Ireland) Ltd., press release
[ 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
Dread disease, manual, Hannover Re, newsletter, serious illnesses, E+S Rück, enhanced personal accident insurance, German market, accident insurance, heart attack, cancer, stroke, kidney failure, newsletter
[ 1997-01-31 ]
Very favourable business development in 1996
Double-digit dividend increase planned; Hannover Re shares upgraded from 'neutral' to 'outperformer'
renewal, 1996, results 1996, outlook 1996, financial year 1996, press release, Hannover Re
[ 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
United States, floods, natural catastrophe, natural peril, USA, U.S.A., newsletter, Hannover Re