• First-ever entirely virtual Annual General Meeting
  • Dividend of EUR 5.50 per share approved
  • Capitalisation remains very comfortable

Hannover, 6 May 2020: The Annual General Meeting of Hannover Rück SE, which for the first time was held today as a virtual AGM without the physical presence of shareholders or their authorised proxies on account of the coronavirus pandemic, approved by a large majority all proposed resolutions put to the vote.

In his address Chief Executive Officer Jean-Jacques Henchoz took the opportunity to look back on the 2019 financial year, in which Hannover Re again demonstrated its earnings power with Group net income of EUR 1.28 billion (EUR 1.06 billion). Hannover Re withdrew its earnings guidance for 2020 in April because it is currently impossible to estimate the impacts of the coronavirus crisis on the claims development and investments.

The Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a dividend of EUR 5.50 per share for the 2019 financial year. It is composed of an ordinary dividend, which was increased again to EUR 4.00 (previous year: EUR 3.75) per share, and an unchanged special dividend of EUR 1.50 per share. Even after payment of the dividend, Hannover Re's solvency ratio remains comfortably above the threshold of 200% and limit of 180%.

The next Annual General Meeting is scheduled to be held on 5 May 2021 in Hannover.