Annual Report

An overview

Gross premium

E 01

in EUR million

30,000

27,762.3

25,000

22,597.6

24,770.3

19,176.4

20,000

17,068.7

17,790.5

16,353.6

13,774.2

13,963.4

14,361.8

15,000

10,000

5,000

0

2012 1

2013

2014

2015

2016

2017

2018

2019

2020 1

2021

Group net income

E 02

in EUR million

1,500

1,150.7

1,171.2

1,059.5

1,284.2

1,231.3

985.6

958.6

849.6

883.1

1,000

895.5

500

0

2012 1

2013

2014

2015

2016

2017

2018

2019

2020

2021

Policyholders' surplus

E 03

in EUR million

15,000

13,588.9

14,071.0

15,733.6

10,239.5

10,267.3

11,231.4

10,778.5

11,035.1

10,000

8,947.2

8,767.9

5,000

0

2012 1

2013

2014

2015

2016

2017

2018

2019

2020

2021

Book value per share

E 04

in EUR

100

91.17

98.55

87.30

80

62.61

66.90

74.61

70.72

72.78

60

50.22

48.83

40

20

0

2012 1

2013

2014

2015

2016

2017

2018

2019

2020

2021

Dividend

E 05

in EUR

6

5.00

5.00

5.25

5.50

5.75 2

Special dividend

4.75

5

4.50

4.25

Dividend

1.25

4

1.50

1.50

1.50

1.50

1.50

3.00

3.00

1.25

3

0.40

4.50

2

3.50

3.50

3.75

4.00

4.50

3.00

3.25

2.60

1

0

2012 1

2013

2014

2015

2016

2017

2018

2019

2020

2021

  1. Restated pursuant to IAS 8
  2. Proposed dividend

Hannover Rück | Geschäftsbericht 2020

Key figures

E 06

2021

+ / -

2020 1

2019

2018

2017

previous

in EUR million

year

Results

Gross written premium

27,762.3

+12.1%

24,770.3

22,597.6

19,176.4

17,790.5

Net premium earned

24,143.7

+13.0%

21,360.8

19,729.7

17,289.1

15,631.7

Net underwriting result 2

(211.1)

(691.0)

(9.7)

156.9

(253.6)

Net investment income

1,943.0

+15.3%

1,685.5

1,757.1

1,530.0

1,773.9

Operating profit (EBIT)

1,734.8

+42.9%

1,214.1

1,853.2

1,596.6

1,364.4

Group net income

1,231.3

+39.4%

883.1

1,284.2

1,059.5

958.6

Balance sheet

Policyholders' surplus

15,733.6

+11.8%

14,071.0

13,588.9

11,035.1

10,778.5

Equity attributable to

shareholders of Hannover

Rück SE

11,885.0

+8.1%

10,995.0

10,528.0

8,776.8

8,528.5

Non-controlling interests

871.2

+3.2%

844.4

826.5

765.2

758.1

Hybrid capital

2,977.4

+33.4%

2,231.6

2,234.4

1,493.1

1,492.0

Investments (excl. funds

withheld by ceding companies)

56,213.2

+14.7%

49,001.6

47,629.4

42,197.3

40,057.5

Total assets

82,902.3

+16.0%

71,437.5

71,356.4

64,508.6

61,196.8

Share

Earnings per share

(basic and diluted) in EUR

10.21

+39.4%

7.32

10.65

8.79

7.95

Book value per share in EUR

98.55

+8.1%

91.17

87.30

72.78

70.72

Dividend

693.4

+27.8%

542.7

663.3

633.1

603.0

Dividend per share in EUR

4.50 + 1.25 3, 4

+27.8%

4.50 4

4.00 + 1.50 4

3.75 + 1.50 4

3.50 + 1.50 4

Share price at year-end in EUR

167.15

+28.3%

130.30

172.30

117.70

104.90

Market capitalisation at

year-end

20,157.8

+28.3%

15,713.8

20,778.9

14,194.3

12,650.6

Ratios

Combined ratio (property and

casualty reinsurance) 2

97.7%

101.6%

98.2%

96.5%

99.8%

Large losses as percentage of

net premium earned (property

and casualty reinsurance) 5

7.5%

11.2%

7.5%

7.9%

12.3%

Retention

89.5%

90.1%

90.0%

90.7%

90.5%

Return on investment

(excl. funds withheld by

ceding companies)

3.2%

3.0%

3.5%

3.2%

3.8%

EBIT margin 6

7.2%

5.7%

9.4%

9.2%

8.7%

Return on equity (after tax)

10.8%

8.2%

13.3%

12.2%

10.9%

  1. Restated pursuant to IAS 8
  2. Including interest on funds withheld and contract deposits
  3. Proposed dividend
  4. Dividend of EUR 4.50 plus special dividend of EUR 1.25 for 2021, Dividend of EUR 4.50 for 2020, dividend of EUR 4.00 plus
    special dividend of EUR 1.50 for 2019, dividend of EUR 3.75 plus special dividend of EUR 1.50 for 2018 and dividend of EUR 3.50 plus special dividend of EUR 1.50 for 2017
  5. Hannover Re Group's net share for natural catastrophes and other major losses in excess of EUR 10 million gross as a percentage of net premium earned
  6. Operating result (EBIT) / net premium earned

The Group worldwide

E 07

A complete list of our shareholdings is provided on page 190 et seq. of the notes. The addresses of the Hannover Re Group's branch offices and subsidiaries abroad are to be found in the section "Further information" on page 285 et seq.

Strategic business groups

E 08

Hannover Re Group

Property & Casualty reinsurance

Life & Health reinsurance

Regional Markets

Financial Solutions

  • EMEA (including CIS)

Americas

Risk Solutions

APAC

Longevity

Worldwide Markets

Mortality

Morbidity

Structured Reinsurance and

Insurance-Linked Securities

  • Facultative Reinsurance
  • Credit, Surety and Political Risks
  • Aviation and Marine
  • Agricultural Risks

Hannover Rück | Geschäftsbericht 2019

Growth through innovation

Within just 50 years Hannover Re has grown into a global company that tackles risk and opportunity with equal success. We intend to write the next chapter of our success story as a reinsurer - with a partnership-based approach, a power of innovation that spans the world and the extensive decision-making powers entrusted to our experts.

Somewhat different.

Contents

  1. For our investors
  2. Letter from the Chairman of

the Executive Board

18 Executive Board of

Hannover­ Rück SE

20 The Hannover Re share

  1. Combined management report
  2. Foundations of the Group
  1. Report on economic position
  1. Combined non-financial information statement
  1. Opportunity and risk report
  1. Enterprise management
  1. Outlook
  1. Consolidated financial statements
  2. Consolidated balance sheet as at 31 December 2021
  1. Consolidated statement of income 2021
  2. Consolidated statement of comprehensive income 2021
  3. Consolidated statement of changes in shareholders'

equity 2021

170 Consolidated cash flow statement 2021

173 Notes to the consolidated financial statements 2021

  1. Independent Auditor's Report
  1. Responsibility statement
  2. Supervisory Board

278 Report of the Supervisory Board

  1. Supervisory Board of
    Hannover­ Rück SE
  2. Further information
  3. Branch offices and subsidiaries of the Hannover Re Group abroad

288 Glossary

  1. List of graphs, tables and charts
  1. Contact information
  2. Financial calendar
  3. Imprint

Hannover Re | Annual Report 2021

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Hannover Rück SE published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 06:42:04 UTC.