hannover rueckversicheru-reg (HVRRF) Snapshot

Hannover Re reaffirmed earnings guidance for the full year of 2013. Although the floodwaters in Germany, Austria and the Czech Republic have likely peaked, it is still too early to make a precise assessment of the insured losses. More accurate damage surveys will only be possible once the floods have receded. Hannover Re has nevertheless made an initial loss estimate based on its written reinsurance treaties. The company anticipated that its net loss may exceed EUR 100 million, but should remain significantly below EUR 200 million. In view of the rather minimal incidence of major losses to date, this means that the major loss budget for the first half-year will probably not be fully utilised. This is the case even allowing for the tornado damage in the U.S. state of Oklahoma in May of this year, which impacted the company in an amount of EUR 30 million for net account. Hannover Re therefore feels able to reaffirm its Group net income guidance of around EUR 800 million for 2013. In this context it should be borne in mind that the entire major loss budget for the second half of the year is still available.

Hannover Rück SE Presents at BNP Paribas 15th European CEO Seminar, Jun-14-2013 . Venue: Paris, France. Speakers: Ulrich Wallin, Chairman of Executive Board and Chief Executive Officer.

Hannover Rück SE reported group earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net premium earned of EUR 3,080.9 million compared to EUR 2,816.2 million a year ago. Net investment income was EUR 354.7 million compared to EUR 440.6 million a year ago. Net investment income decrease mainly driven by a swing of 2 particular derivative valuations in the P&L, especially as last year experienced the positive development of around EUR 80 million, which did not repeat itself. EBIT was EUR 352.5 million compared to EUR 393.2 million a year ago. Group net income was EUR 221.4 million or EUR 306.82 per share compared to EUR 261.3 million or EUR 427.67 per share a year ago. Return on equity (after tax) was 14.4% compared to EUR 20.3% a year ago. Book value per share was EUR 52.18 compared to EUR 50.02 a year ago. EBIT margin was 11.4% compared to 14.0% a year ago. The company provided earnings guidance for the year 2013. For the full year, the company anticipates Group net income in the order of EUR 800 million. This is conditional upon major losses not significantly exceeding the expected level of EUR 625 million for the full year and also assumes that there are no drastic downturns on capital markets. It is targeting a return on investment of 3.4%. It is looking to grow its gross premium organically by 5% to 7%. As for the dividend, the company continues to aim for a payout ratio in the range of 35% to 40% of its IFRS Group net income after tax.