Annual Report 2010 - Hannover Re

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Index of key terms Agricultural risks (insurance, covers) 21, 31 ff, 96 Asbestos- and pollution-related claims, asbestos-related claims and pollution damage, asbestos and pollution risks 60, 122 Aviation 8, 21 f, 28, 30, 33, 58, 61, 95, 130, 183 Bancassurance 37, 40, 42 f, 97, 196 Book value (per share) 3, 11, 13, 71, 74, 99 Catastrophy risk(s, business, losses, bond) 3 f, 8, 21 f, 25, 27, 30 ff, 34, 51, 53, 60 ff, 66, 79, 94 ff, 130 f, 196 Combined ratio 4, 21 ff, 28 ff, 34 f, 62, 67, 71, 93, 99, 196 Conventional reinsurance 37, 40, 42 Corporate Governance 15, 52, 80 f, 84, 113, 125, 178, 189 f, 197 Critical Illness (covers, risks) 36, 40, 45, 197 Life (reinsurance, insurance, business) 12, 18, 36 f, 39 f, 42, 44 f, 62, 94, 96 f, 115, 119, 122, 146, 148, 155 f, 165, 172, 188 f, 198 ff Longevity (risk, market, business) 5, 8, 36 f, 40, 42 f, 98 Major loss(es, events) 3 f, 6, 16, 19, 21 ff, 28 ff, 33 f, 62, 94, 96, 153 f, 188 f, 200 Morbidity (risk, cover, rates) 6, 37, 40, 42, 44, 60, 62, 98, 155, 198 Mortality (risk, solutions, cover, rates) 5 f, 36 f, 40, 42, 44, 60, 62 f, 98, 119, 122, 155 Multinational(s, insurance groups) 36 f, 97 Natural catastrophe(s) 18, 28, 31 ff, 61 f, 79, 96 f, 122, 130, 196 Net income 102 f, 105, 110, 118, 123, 167, 197 New markets 37, 40, 42, 96 f Non-life reinsurance 3 f, 6, 8, 15, 18 ff, 49, 57 f, 66 f, 70 f, 93 f, 97, 99, 110, 112, 125, 150, 156 f, 181, 189, 201 Dividend (proposal, yield) 3, 10 f, 13, 27, 76, 89, 98, 104, 107, 169, 117, 165, 179, 182 Operating profit/loss, operating result (EBIT) 4, 6, 11, 19 ff, 23, 27 f, 31, 40 f, 43 f, 71 f, 90, 99, 102, 110, 198 Earnings per share 13, 20 f, 23, 41, 71, 84 f, 99, 102 f, 115, 178, 182, 197, 200 E+S Rückversicherung AG (E+S Rück) 24, 42, 53, 77, 113, 120, 125, 132, 148, 186 f Emerging Risks 60, 68 f Enhanced Annuities 5, 37, 39, 43 Financial solutions 42, 44, 198 Global reinsurance 23, 31, 96 Group net income 4, 16, 19 ff, 23, 27, 72, 74, 89, 98, 102, 110, 115, 182 Performance Excellence 15, 70 f, 92 Property (insurance, business, line) 23 ff, 31, 33, 35, 95, 97, 157, 199 f Rating(s) 15, 20, 24, 30, 32, 34, 45, 47 f, 56, 66 ff, 74, 76 f, 97, 117, 138, 165, 188, 198, 200 Rating agency/-ies 44, 56, 66, 74, 76 f, 200 Return on equity 14 f, 20, 71 f, 87, 89, 93, 99 RBS Global Reinsurance Index, weighted 10, 84 f, 178 Retrocessionaire(s) 20, 66 f, 118, 146, 150 f, 156, 197 f Risk management 8, 23, 31, 46, 49, 52, 55 f, 58 f, 61, 63, 66 ff, 76, 79, 82 f, 98, 116, 131 Haftpflichtverband der Deutschen Industrie V.a.G. (HDI) 113, 176, 192 Hannover Life Re 37, 37, 44 f, 97 Hannover Re share 3, 10 ff, 84, 178 f Hybrid capital 2, 57, 67, 72 ff, 102, 110, 198 Intrinsic Value Creation (IVC) 70 ff, 87, 89, 198 Investment income (net) 6, 19, 21, 23, 47 f, 102, 110, 116, 118, 167 Life and health reinsurance 3, 5 f, 8, 15, 19 f, 27, 36 ff, 49, 55 ff, 60, 62, 66 f, 70 ff, 93, 97 ff, 113, 113, 119, 146, 169, 175, 177, 188, 196, 199 f Securitisation(s) 22, 30, 96, 130 f, 176, 189, 196, 200 Specialty lines 8, 23, 31, 96 Shareholders’ equity 3, 13, 20, 40, 47, 55, 57, 59 ff, 64, 67, 72 ff, 89, 98, 101, 103 f, 115, 118, 120 f, 123 f, 139, 144, 151, 165, 172, 182, 196 Stock option plan 84 f, 87, 92, 178 f Stock appreciation rights (STAR) 84 ff, 92, 178 ff Structured reinsurance (covers, products) 8, 28 ff, 33, 51, 95, 189, 201 Survival ratio 60, 201 Talanx (AG, Gruppe) 12, 77, 113, 157, 176 f, 192 Target markets 8, 23, 31, 95 202 INDEX OF KEY TERMS Hannover Re Group annual report 2010
Financial calendar 2011/2012 9 March 2011 Annual Results Press Conference Hannover Re Karl-Wiechert-Allee 50 30625 Hannover, Germany 10 March 2011 DVFA Analysts’ Meeting, Frankfurt Analysts’ Meeting, London 3 May 2011 Annual General Meeting Start 10:00 a.m. Hannover Congress Centrum Theodor-Heuss-Platz 1-3 30175 Hannover, Germany 3 May 2011 Interim Report 1/2011 8 August 2011 Interim Report 2/2011 9 November 2011 Interim Report 3/2011 1 February 2012 Conference Call: Non-life treaty renewals 3 May 2012 Annual General Meeting Start 10:00 a.m. Hannover Congress Centrum Theodor-Heuss-Platz 1-3 30175 Hannover, Germany 3 May 2012 Interim Report 1/2012
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Annual Report 2010
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The Hannover Re Group America Europ
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Contents For our investors 2 - 15 L
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Our operational business was impact
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Our life and health reinsurance bus
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years will generate increasing inco
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For our investors Seated from left
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The market capitalisation of the Ha
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Basic information Securities identi
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Strategic objectives 1. Profitable
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Macroeconomic climate The global ec
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Business development We are thoroug
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Non-life reinsurance Accounting for
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Along with the aforementioned natur
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The establishment of the Federal In
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The Die beste volatility Volatilit
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Credit and surety Breakdown of gros
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Thanks not least to a new branch of
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The insurance sector continues to b
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have enlarged our portfolio. In the
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anch in Shanghai concentrates on bu
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Ageing macht creates Märkte market
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Key figures for life and health rei
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new business. Against this backdrop
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The rating agency Standard & Poor
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Rating of fixed-income securities
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In 2009 Hannover Re launched anothe
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Solvency For our company II heißt
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Social commitment Hannover Re’s c
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Opportunity and risk report Overrid
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Available capital and required risk
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Internal risk management and contro
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The table below lists the catastrop
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Sensitivity analysis of the Market
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events. Further significant risk ma
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Gross written premium retained in %
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Strategic risks derive from the ris
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Performance Excellence Check The PE
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Financial position Asset / liabilit
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Financing and Group debt In additio
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Financial strength ratings of subsi
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Naturkatastrophen Natural catastrop
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Corporate Governance The principles
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for orderly performance of their ta
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in question. With the aim of making
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The Annual General Meeting of Hanno
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Measurement bases/conditions of pay
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Individual remuneration received by
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motivation, customer satisfaction,
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eversal. Nevertheless, we anticipat
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of demand and the diversification o
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Profit and growth targets for 2011
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as at 31 December 2010 Liabilities
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Consolidated statement of comprehen
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Consolidated cash flow statement 20
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Figures in EUR thousand 1.1.- 31. 1
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as at 31 December 2010 Life/health
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as at 31 December 2010 Life/health
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1. Company information The parent c
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Standards Applicable to financial y
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Impairments: as at each balance she
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asis of a five-year detailed plan a
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come. Currency translation differen
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The projections, which cover variou
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The following list of shareholdings
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Name and registered office of the c
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Name and registered office of the c
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Investments Within the scope of its
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5. Notes on the individual items of
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The stated maturities may in indivi
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Amortised cost, unrealised gains an
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Carrying amounts before impairment
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Breakdown of investments by currenc
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In addition, we held indirect real
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Development of level 3 financial in
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Development of deferred acquisition
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This item principally consists of t
Page 155 and 156: Technical provisions in EUR thousan
Page 157 and 158: Net loss reserve and its run-off in
Page 159 and 160: Liabilities in liability and motor
Page 161 and 162: From 1997 onwards it has been possi
Page 163 and 164: The recognised provision for pensio
Page 165 and 166: in EUR thousand Other reclassificat
Page 167 and 168: Debt and subordinated capital in EU
Page 169 and 170: Furthermore, a long-term unsecured
Page 171 and 172: 6.2 Investment income Investment in
Page 173 and 174: 6.3 Reinsurance result Reinsurance
Page 175 and 176: Tax-relevant bookings on the Group
Page 177 and 178: The following table presents a reco
Page 179 and 180: Maturity structure of derivative fi
Page 181 and 182: Business assumed and ceded in Germa
Page 183 and 184: last twenty trading days prior to t
Page 185 and 186: On this basis the aggregate provisi
Page 187 and 188: 7.7 Contingent liabilities and comm
Page 189 and 190: 7.11 Events after the balance sheet
Page 191 and 192: Responsibility statement To the bes
Page 193 and 194: ated by a reinsurance subsidiary do
Page 195 and 196: - in each case drawn up as at 31 De
Page 197 and 198: Branch offices and subsidiaries of
Page 199 and 200: Spain United Kingdom USA HR Hannove
Page 201 and 202: Corporate Governance: serves to ens
Page 203 and 204: Life and health (re-)insurance: col
Page 205: Segmental reporting: presentation o
Page 209 and 210: Contact information Corporate Commu
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Annual Report 2010 - Hannover Re

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