The Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a dividend of EUR 5.00 per share (previous year: EUR 4.75) for the 2016 financial year.
Hannover, 10 May 2017: The Annual General Meeting of Hannover Re today approved all proposed resolutions that were put to a vote by appropriate majorities.
In his address to the meeting Chief Executive Officer Ulrich Wallin took the opportunity to look back once more on the 2016 financial year, which Hannover Re closed with Group net income of EUR 1.17 billion. Both business groups, namely Property & Casualty and Life & Health reinsurance, as well as a very good underwriting result and pleasing investment income played a part in this fifth consecutive record profit reported by the company.
The Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a dividend of EUR 5.00 per share for the 2016 financial year: the payout is composed of a regular dividend amounting to EUR 3.50 per share – an increase of EUR 0.25 compared to the previous year – and a special dividend of EUR 1.50 per share. The special dividend is to be seen as a capital management measure in light of the fact that Hannover Re's capitalisation exceeds its capital requirements. The company is thus distributing more than EUR 600 million to its shareholders.
The next Annual General Meeting of Hannover Re is scheduled for 7 May 2018 in Hannover.