Hannover Re's quantitative strategic targets:

Business groupKey figuresStrategic targets

1 After tax; risk-free: 5-year average return of 10-year German government bonds
2 According to our internal capital model and Solvency II requirements
3 Average annual growth at constant f/x rates
4 Average annual growth; based on normalised EBIT 2020
5 Excess return (one-year economic profit in excess of the cost of capital) on allocated economic capital
6 Based on Solvency II principles; pre-tax reporting
Group Return on equity1 900 bps above risk-free
Solvency ratio2 ≥ 200%
Property & Casualty reinsurance Gross premium growth3 ≥ 5%
EBIT growth4 ≥ 5%
Combined ratio ≤ 96%
xRoCA5 ≥ 2%
Life & Health reinsurance Gross premium growth3 ≥ 3%
EBIT growth4 ≥ 5%
Value of New Business (VNB)6 ≥ EUR 250 m.
xRoCA5 ≥ 2%