Corporate | 10 May 2017 14:12
Hannover Rück SE: Annual General Meeting adopts all proposed resolutions
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DGAP-News: Hannover Rück SE / Key word(s): AGM/EGM
Press Release
Hannover Re: Annual General Meeting adopts all proposed resolutions
In his address to the meeting Chief Executive Officer Ulrich Wallin took the opportunity to look back once more on the 2016 financial year, which Hannover Re closed with Group net income of EUR 1.17 billion. Both business groups, namely Property & Casualty and Life & Health reinsurance, as well as a very good underwriting result and pleasing investment income played a part in this fifth consecutive record profit reported by the company. The Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a dividend of EUR 5.00 per share for the 2016 financial year: the payout is composed of a regular dividend amounting to EUR 3.50 per share – an increase of EUR 0.25 compared to the previous year – and a special dividend of EUR 1.50 per share. The special dividend is to be seen as a capital management measure in light of the fact that Hannover Re’s capitalisation exceeds its capital requirements. The company is thus distributing more than EUR 600 million to its shareholders.
The next Annual General Meeting of Hannover Re is scheduled for 8 May 2018 in Hannover.
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Hannover Re, with gross premium of EUR 16.4 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 2,900 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide. The Group’s German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück very strong insurer financial strength ratings: Standard & Poor’s AA- “Very Strong” and A.M. Best A+ “Superior”.
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10.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service 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: | 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 |
| End of News | DGAP News Service |