Earnings Release • Jun 17, 2013
Earnings Release
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Corporate | 17 June 2013 10:30
Hannover Re sees no threat to Group net income for 2013 despite flood losses
Hannover Rück SE / Key word(s): Miscellaneous
17.06.2013 / 10:30
Hannover Re sees no threat to Group net income for 2013 despite flood losses
Hannover, 17 June 2013: Although the floodwaters in Germany, Austria and the Czech Republic have likely peaked, it is still too early to make a precise assessment of the insured losses. More accurate damage surveys will only be possible once the floods have receded. Hannover Re has nevertheless made an initial loss estimate based on its written reinsurance treaties. The company anticipates that its net loss may exceed EUR 100 million, but should remain significantly below EUR 200 million.
In view of the rather minimal incidence of major losses to date, this means that the major loss budget for the first half-year will probably not be fully utilised. This is the case even allowing for the tornado damage in the U.S. state of Oklahoma in May of this year, which impacted the company in an amount of EUR 30 million for net account.
Hannover Re therefore feels able to reaffirm its Group net income guidance of around EUR 800 million for 2013. In this context it should be borne in mind that the entire major loss budget for the second half of the year is still available.
For further information please contact:
Media Relations:
Janine Bernkurth (tel. +49 511 5604-1931,
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 EUR 13.8 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 2,300 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
17.06.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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| 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: | Regulierter Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX |
| End of News | DGAP News-Service |
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| 216634 17.06.2013 |
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