HANNOVER RE
anticipated positive cash flow. The return on investment should reach a level of around 2.4%.
In terms of the ordinary dividend for the current financial year, Hannover Re envisages an unchanged payout ratio in
the range of 35% to 45% of its IFRS Group net income. The ordinary dividend will be supplemented by payment of a
special dividend subject to a consistently comfortable level of capitalisation and Group net income within the expected
bounds.
Hannover Re, with gross premium of more than EUR 24 billion, is the third-largest reinsurer in the world. It transacts
all lines of property & casualty and life & health reinsurance and is present on all continents with more than 3,000
staff. Established in 1966, the Hannover Re Group today has a network of more than 170 subsidiaries, branches and
representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating
agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial
strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
Please note the disclaimer:
https://www.hannover-re.com/535917
Contact
Corporate Communications:
Karl Steinle
tel. +49 511 5604-1500
karl.steinle@hannover-re.com
Media Relations:
Oliver Süß
tel. +49 511 5604-1502
oliver.suess@hannover-re.com
Investor Relations:
Axel Bock
tel. +49 511 5604-1736
axel.bock@hannover-re.com
www.hannover-re.com
Key figures of the Hannover Re Group (IFRS basis)
in EUR million 2020 +/- previous year 2019
Hannover Re Group
Gross written premium 24,765.5 +9.6% 22,597.6
Net premium earned 21,355.9 +8.2% 19,729.7
Net underwriting result^1) (693.7) (9.7)
Net investment income 1,688.1 -3.9% 1,757.1
Operating profit (EBIT) 1,214.1 -34.5% 1,853.2
Group net income 883.1 -31.2% 1,284.2
Earnings per share in EUR 7.32 -31.2% 10.65
Retention 90.1% 90.0%
Tax ratio 18.2% 22.2%
EBIT margin^2) 5.7% 9.4%
Return on equity 8.2% 13.3%
in EUR million 2020 +/- previous year 2019
Policyholders' surplus 14,071.0 +3.5% 13,588.9
Investments (excl. funds held by ceding companies) 49,220.9 +3.3% 47,629.4
Total assets 71,439.8 +0.1% 71,356.4
Book value per share in EUR 91.17 +4.4% 87.30
Dividend^3) 542.7 -18.2% 663.3
Dividend per share in EUR^3) 4.50 -18.2% 4.00 + 1.50
Property & Casualty reinsurance
in EUR million 2020 +/- previous year 2019
Gross written premium 16,744.1 +13.3% 14,781.3
Net premium earned 14,205.4 +11.0% 12,797.6
Net underwriting result^1) (223.5) -195.0% 235.4
Operating profit (EBIT) 831.3 -35.3% 1,285.8
Group net income 620.3 -28.8% 871.7
Retention 90.3% 90.3%
Combined Ratio^1) 101.6% 98.2%
EBIT margin^2) 5.9% 10.0%
Life & Health reinsurance
in EUR million 2020 +/- previous year 2019
Gross written premium 8,021.4 +2.6% 7,816.4
Net premium earned 7,150.3 +3.2% 6,931.9
Operating profit (EBIT) 384.8 -32.5% 569.9
Group net income 323.3 -31.4% 471.6
Retention 89.8% 89.5%
EBIT margin^2) 5.4% 8.2%
^1) Including funds withheld
^2) Operating result (EBIT)/net premium earned
^3) Dividend proposal (dividend of EUR 4.50 for 2020, dividend of EUR 4.00 plus special dividend of EUR 1.50 for 2019) Key figures of the Hannover Re Group (IFRS basis)
in EUR million Q4/2020 +/- previous year Q4/2019 Hannover Re Group Gross written premium 5,470.5 +5.1% 5,204.2 Net premium earned 5,584.3 +4.6% 5,338.4 Net underwriting result^1) (254.4) 23.7 Net investment income 503.1 +18.3% 425.2 Operating profit (EBIT) 311.2 -32.0% 457.8 Group net income 215.3 -23.4% 281.0 Earnings per share in EUR 1.78 -23.4% 2.33 Retention 90.3% 88.5% Tax ratio 21.6% 29.2% EBIT margin^2) 5.6% 8.6% Return on equity 7.9% 10.6% Property & Casualty reinsurance in EUR million Q4/2020 +/- previous year Q4/2019 Gross written premium 3,396.5 +8.6% 3,127.9 Net premium earned 3,693.3 +5.1% 3,515.3 Net underwriting result^1) (77.7) -170.7% 109.9 Operating profit (EBIT) 242.7 -33.8% 366.8 Group net income 202.2 -12.7% 231.6 Retention 90.1% 88.5% Combined Ratio^1) 102.1% 96.9% EBIT margin^2) 6.6% 10.4% Life & Health reinsurance in EUR million Q4/2020 +/- previous year Q4/2019 Gross written premium 2,074.1 -0.1% 2,076.2 Net premium earned 1,890.9 +3.7% 1,823.0 Operating profit (EBIT) 69.3 -24.9% 92.3 Group net income 26.7 -61.1% 68.8 Retention 90.7% 88.5% EBIT margin^2) 3.7% 5.1% ^1) Including funds withheld ^2) Operating result (EBIT)/net premium earned -----------------------------------------------------------------------------------------------------------------------
2021-03-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: Hannover Rück SE
Karl-Wiechert-Allee 50
30625 Hannover
Germany
Phone: +49-(0)511-5604-1500
Fax: +49-(0)511-5604-1648
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin,
Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1174662
End of News DGAP News Service
=------------ 1174662 2021-03-11
(END) Dow Jones Newswires
March 11, 2021 01:32 ET (06:32 GMT)
