Hannover Rueck SE

Earnings Release • Feb 7, 2017

News Details

Ad-hoc | 7 February 2017 07:14

Hannover Rück SE: Hannover Re surpasses own profit expectation for 2016 financial year

Hannover Rück SE / Key word(s): Preliminary Results

07-Feb-2017 / 07:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Publication of an ad hoc disclosure pursuant to Art. 17 MAR

Hannover Re surpasses own profit expectation for 2016 financial year

Hannover, 7 February 2017: Based on provisional figures, Hannover Re will
generate Group net income of around EUR 1.17 billion (previous year: EUR
1.15 billion) for the 2016 financial year. The company will thus clearly
surpass its profit target of at least EUR 950 million. The principal driver
is a further improvement in the underwriting result in property and
casualty reinsurance. In addition, the tax rate for 2016 decreased to a
normalised level because higher tax expenditure provisionally recognised in
the previous year did not recur. The operating profit (EBIT) for 2016
amounts to roughly EUR 1.69 billion (EUR 1.76 billion). Gross premium
contracted as expected to EUR 16.4 billion (EUR 17.1 billion).

The present annual results are still subject to certification by the
auditors and approval by the Supervisory Board.

Hannover Re will publish detailed information on the 2016 annual financial
year on 9 March 2017.

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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: info@hannover-re.com
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; Luxemburg

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