|Balance sheet structure of Hannover Rück SE|
|in EUR thousand||2017||2016|
|Prepayments and accrued income||165,263||162,441|
|Capital and reserves||2,905,716||2,665,716|
|Provisions for other risks and charges||371,949||531,367|
|Deposits received from retrocessionaires||1,907,577||2,286,675|
|Accruals and deferred income||–||4|
Our portfolio of assets under own management contracted in the year under review to EUR 26.5 billion (EUR 27.3 billion). This corresponds to a decline of 3.2% and can be attributed in part to reductions in the fair values of fixed-income securities held in current assets as a consequence of upsloping EUR and GBP yield curves as well as upward pressure for shorter- and medium-term maturities of the USD interest rate spectrum; the primary factor, however, was exchange rate effects associated with our USD-denominated holdings. The balance of unrealised gains on fixed-income securities and bond funds decreased to EUR 662.9 million (EUR 685.1 million). This reflects the aforementioned yield increases for EUR- and GBP-denominated government bonds, which were only partially offset by a further modest reduction in risk premiums for corporate bonds. Opposing effects derived solely from long-dated US Treasuries, which recorded slight yield decreases over the year as a whole.
Deposits with ceding companies, which are shown under the investments, fell marginally in the year under review to EUR 8.0 billion (EUR 8.3 billion).
Our capital and reserves – excluding the disposable profit – stood at EUR 1,631.7 million (EUR 1,631.7 million). The total capital, reserves and technical provisions – comprised of the capital and reserves excluding disposable profit, the subordinated liabilities, the equalisation reserve and similar provisions as well as the net technical provisions – decreased during the year under review to EUR 33,358.4 million (EUR 34,011.8 million). The balance sheet total of Hannover Rück SE fell to EUR 37.9 billion (EUR 39.0 billion).
A dividend of EUR 3.50 plus a special dividend of EUR 1.50 per share, equivalent to EUR 603.0 million (EUR 572.8 million), was paid out in the year under review for the 2016 financial year.
It will be proposed to the Annual General Meeting on 7 May 2018 that a dividend of EUR 3.50 plus a special dividend of EUR 1.50 per share should be paid for the 2017 financial year. This corresponds to a total distribution of EUR 603.0 million. The dividend proposal does not form part of this consolidated financial statement.