Dividends

In view of its very good capitalisation, the payout ratio for the regular dividend will be raised to around 55% of IFRS Group net income starting from financial year 2025. Furthermore, the goal is to distribute a dividend per share at least on the level of the previous year and to increase it over the long term. The special dividend, a tool which has been routinely used in the past, will become part of the regular dividend. Going forward, it is envisaged that an additional special dividend will only be used in exceptional circumstances. Hannover Re's very good capitalisation will enable it to continue generating profitable growth along with the increased dividend distribution.