Annual Report 2003 - Hannover Re

Notes
notes on liabilities
Miscellaneous liabilities
Figures in EUR thousand
2003 2002
Accounts due to affiliated companies 103 666 557 034
Liabilities from deliveries and services 6 268 6 618
Liabilities from interest on surplus debenture 5 790 5 790
Liabilities from securities transactions 2 146 –
Liabilities from overpayments 1 054 2 480
Liabilities in respect of the revenue authorities 842 1 338
Liabilities from outstanding social security contributions 539 629
Liabilities in respect of permanent establishments 522 463
Liabilities under lease agreements 75 70
Other liabilities 75 222
Total 120 977 574 644
A loan of EUR 100.0 million issued by Hannover Finance (Luxembourg) S.A. is shown under the
accounts due to affiliated companies. The remaining term of the loan is seven years.
The liabilities existing to two affiliated companies in the previous year were repaid ahead of
schedule.
Deferred items
Figures in EUR thousand
2003 2002
Long-term tenancy rights 802 924
Disagio 100 1 364
Other accruals and deferred income 349 39
Total 1 251 2 327
Contingent liabilities
We have secured through guarantees a surplus note in the amount of USD 400.0 million with a term
of 40 years issued in the 1999 financial year by our subsidiary Hannover Finance Inc., Wilmington/USA,
and subordinate debt of EUR 350.0 million with a term of 30 years issued in the previous year by our
Luxembourg subsidiary Hannover Finance (Luxembourg) S.A.
Liabilities for remaining calls existed with respect to special investments in the amount of EUR
115.4 million.
We also provided security for letters of credit furnished by banks for subsidiaries.
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