Earnings Release • Jan 14, 2013
Earnings Release
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Corporate | 14 January 2013 11:00
Hannover Re: Profit forecast unchanged despite ‘Sandy’
Hannover Rückversicherung AG / Key word(s): Miscellaneous
14.01.2013 / 11:00
Profit forecast unchanged despite 'Sandy'
Hannover, 14 January 2013: Based on a detailed analysis of its non-life reinsurance portfolio, Hannover Re anticipates a net burden of losses in the amount of EUR 261 million from Hurricane Sandy. Loss-triggered treaty conditions generate further net premiums in the amount of EUR 23.5 million, hence reducing the strain to EUR 237.5 million.
'This loss expenditure leaves us comfortably within our major loss budget for the financial year just ended. Our expectation of generating Group net income in excess of EUR 800 million for 2012 remains unaffected by this loss', Chief Executive Officer Ulrich Wallin emphasised.
Hannover Re will report in detail on the events of the 2012 financial year at its press conference on the annual results to be held on 7 March 2013.
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 a gross premium of around EUR 12 billion, is the third-largest reinsurer in the world. It transacts all lines of non-life and life and health reinsurance and is present on all continents with around 2,200 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:
www.hannover-re.com/misc/disclaimer-pr-050811
End of Corporate News
14.01.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Hannover Rückversicherung AG |
| 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: | Regulierter Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX |
| End of News | DGAP News-Service |
| - - - |
| 198924 14.01.2013 |
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