Hannover Rueck SE

Earnings Release • Oct 20, 2014

News Details

Corporate | 20 October 2014 13:30

Hannover Re subsidiary anticipates stable conditions in the German market

Hannover Rück SE / Key word(s): Miscellaneous

20.10.2014 / 13:30

---

Hannover Re subsidiary anticipates stable conditions in the German market

Baden-Baden, 20 October 2014: E+S Rück – which bears responsibility within the Hannover Re Group for German business – expects to see broadly stable conditions and prices in the treaty renewals as at 1 January 2015.

“Heavy loss expenditures, especially in connection with June storm Ela as well as belatedly reported claims from hailstorm Andreas in the previous year, should be a factor in the upcoming renewals and serve to at least keep rates stable for loss-impacted covers”, Mr. Michael Pickel, a member of the company’s Executive Board, explained at a press conference during the week-long meeting of reinsurers in Baden-Baden.

In light of the trend towards an accumulation of extreme weather events in Germany and the associated higher losses, many primary insurers are reviewing their risk protection with an eye to avoiding potential volatility in their results. In this context E+S Rück supports its clients with catastrophe analysis tailored to their needs and is thereby able to offer bespoke reinsurance solutions. “Bearing in mind the losses that have occurred in the past and the likelihood of increased localised weather events in the future, we expect to see growing demand for coverage concepts”, Mr. Pickel emphasised.

When it comes to renewing long-tail lines such as general liability and motor liability, allowance will have to be made not only for the further decline in interest rates but also for the claims experience from prior years. This will likely prompt a corresponding need for adjustments, which should at least result in rates remaining stable.

The situation in industrial fire insurance continues to be under strain owing to the considerable number of basic losses. Against this backdrop E+S Rück expects to see improvements in conditions.

All in all, E+S Rück anticipates further market opportunities in 2015 and considers itself well on track to maintaining its market share on a high level going forward.

For further information please contact:

Corporate Communications:

Karl Steinle (tel. +49 511 5604-1500,

e-mail: karl.steinle@hannover-re.com)

Media Relations:

Gabriele Handrick (tel. +49 511 5604-1502,

e-mail: gabriele.handrick@hannover-re.com)

Investor Relations:

Julia Hartmann (tel. +49 511 5604-1529,

e-mail: julia.hartmann@hannover-re.com)

Please visit: www.hannover-re.com

Hannover Re , with gross premium of EUR 14.0 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 2,400 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

---

20.10.2014 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:	info@hannover-re.com
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

- - -
292134  20.10.2014