We continued to cultivate the dialogue with institutional investors in the financial year just ended in the context of roadshows and capital market conferences. Altogether, members of the Executive Board and representatives of the Investor Relations department attended 17 international capital market conferences (previous year: 14) and 19 roadshows (19). The focus of our efforts was on the financial centres of Europe and North America.
Complementing these activities, we held Hannover Re’s 20th Investors’ Day on 19 October 2017 in Frankfurt. Discussions centred on the outcome of the updated Group strategy for the years 2018 to 2020, which has been framed under the motto “Creating value through reinsurance”. Another issue addressed at the event was the impact of the recent natural catastrophes in the autumn of 2017. After five years of rather low expenditures these had led to insured losses on a par with the costly years of 2005 and 2011 and hence significantly in excess of the multi-year average. In addition, the Executive Board took the opportunity to provide more in-depth insights into the high-growth segment of structured reinsurance and described the cash flows expected from new business in life and health reinsurance over the coming years. Discussions relating to the risk profile and the capitalisation under Solvency II also featured on the agenda, as did the implications of the protracted low interest rate environment for strategic capital management. In common with many of our other IR events, the Investors’ Day is broadcast live on our website.