Based on provisional figures, Hannover Re will generate Group net income of around EUR 1.17 billion (previous year: EUR 1.15 billion) for the 2016 financial year. The company will thus clearly surpass its profit target of at least EUR 950 million. The principal driver is a further improvement in the underwriting result in property and casualty reinsurance. In addition, the tax rate for 2016 decreased to a normalised level because higher tax expenditure provisionally recognised in the previous year did not recur. The operating profit (EBIT) for 2016 amounts to roughly EUR 1.69 billion (EUR 1.76 billion). Gross premium contracted as expected to EUR 16.4 billion (EUR 17.1 billion).

The present annual results are still subject to certification by the auditors and approval by the Supervisory Board.

Hannover Re will publish detailed information on the 2016 annual financial year on 9 March 2017.

Contacts

Karl Steinle

General Manager Corporate Communications Tel.: +49 511 5604-1500

Fax: +49 511 5604-1648

E-mail

Gabriele Handrick

Chief Media Relations Manager Tel.: +49 511 5604-1502

Fax: +49 511 5604-1648

E-mail

Julia Hartmann

Senior Investor Relations Manager Tel.: +49 511 5604-1529

Fax: +49 511 5604-1648

E-mail

Hannover Rück SE published this content on 07 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 07 February 2017 08:39:05 UTC.

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