Capital/Financing Update • Aug 5, 2015
Capital/Financing Update
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Corporate | 5 August 2015 14:00
Hannover Rück SE: Hannover Re Group receives BaFin approval for its internal capital model
Hannover Rück SE / Key word(s): Miscellaneous
2015-08-05 / 14:00
Press release
Hannover Re Group receives BaFin approval for its internal capital model
Hannover, 5 August 2015: Following intensive preparations, the Hannover Re Group has received the approval of the Federal Financial Supervisory Authority (BaFin) to calculate its solvency capital requirements according to its internal capital model with the implementation of Solvency II. This model has been successfully used for the risk management and steering of the Hannover Re Group for several years and covers the most important risk categories, namely underwriting risk, market risk and counterparty default risk.
“With our internal capital model, compared to the standard model, we can best reflect the risk structure of our reinsurance business and also efficiently implement the supervisory capital requirements within the Solvency II framework”, Chief Executive Officer Ulrich Wallin explained.
According to the upcoming Solvency II guidelines the capital adequacy ratio as of 31 December 2014 continues to be at a comfortable level above 250%.
For further information please contact:
Corporate Communications:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: [email protected])
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: [email protected])
Investor Relations:
Julia Hartmann (tel. +49 511 5604-1529,
e-mail: [email protected])
Please visit: www.hannover-re.com
Hannover Re , with gross premium of EUR 14.4 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 around 2,500 staff. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer 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
2015-08-05 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.
Media archive at www.dgap-medientreff.de and 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 |
| E-mail: | [email protected] |
| 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; Terminbörse EUREX; Luxemburg |
| End of News | DGAP News-Service |
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| 383817 2015-08-05 |
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