Corporate | 14 January 2013 11:00
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Hannover Rückversicherung AG / Key word(s): Miscellaneous
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:
Media Relations:
Investor Relations:
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').
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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: | 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 |
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| 198924 14.01.2013 |