Corporate | 23 March 2011 08:00

Hannover Re anticipates loss expenditure in the order of EUR 250 million from the Japan earthquake

Hannover Rückversicherung AG / Key word(s): Miscellaneous

23.03.2011 / 08:00

Hannover Re anticipates loss expenditure in the order of EUR 250 million from the Japan earthquake

Hannover, 23 March 2011: The earthquake in Japan is one of the most devastating natural disasters suffered by the people of Japan in their history. 'We have been deeply shaken on a personal level by the events that have unfolded in Japan. All our sympathies go out to the Japanese people. We shall assist and support our Japanese clients and, in our role as reinsurer, we shall play our part in shouldering the resulting burden', Ulrich Wallin, Chief Executive Officer of Hannover Re, stated.

In view of the complexity of the event, reliable information on the total market loss for the insurance industry is not yet available. Any assessment of the loss amount is therefore still subject to considerable uncertainty. Based on its analysis of individual treaties, Hannover Re currently anticipates a burden of losses in the order of EUR 250 million after retrocessions and before taxes.

Hannover Re will provide more detailed information on the current financial year on 3 May 2011 in the context of its reporting on the first quarter.

For further information please contact:

Corporate Communications:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: karl.steinle@hannover-re.com)

Media Relations:
Janine Bernkurth (tel. +49 511 5604-1931,
e-mail: janine.bernkurth@hannover-re.com)

Investor Relations:
Klaus Paesler (tel. +49 511 5604-1736,
e-mail: klaus.paesler@hannover-re.com)

Please visit: www.hannover-re.com

Hannover Re , with a gross premium of around EUR 11 billion, is the third-largest reinsurer in the world. It transacts all lines of non-life and life and health reinsurance. It maintains business relations with more than 5,000 insurance companies in about 150 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices on all five continents with a total staff of roughly 2,200. 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 'Excellent').

Disclaimer:
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Hannover Re does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Hannover Re and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

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Language:	English
Company:	Hannover Rückversicherung AG
	Karl-Wiechert-Allee 50
	30625 Hannover
	Deutschland
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
Listed:	Regulierter Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX

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116486  23.03.2011