Sustainability Report 2017

Hannover Re Website | Topic Navigation |
Quick Finder
Business development Business model Cash Flow Statement Consolidated Balance Sheet Consolidated Statement of Income Financial position and net assets Forecast Remuneration report Results of operations Risk report Segmental Report
| Sitemap | Deutsch
About us
Organisational profile Product portfolio
Key figures Executive Board Supervisory Board
Group strategy
Equity story Value-based management Business performance
Sustainability Strategy
Materiality analysis Table of goals for 2015 – 2017 (sustainability goals and measures)
Sustainability management
Responsible enterprise management
Management structure Corporate Governance Code Remuneration and performance review
Compliance
Legal framework Data privacy and information security Sanctions Code of Conduct Compliance structure and report
Risk management
Risk landscape Organisation and process of risk management
Stakeholder dialogue
Dialogue formats Advocacy groups and memberships
Risk expertise Sustainable insurance solutions Sustainability in asset management Customer orientation and satisfaction
Employee indicators Executive development and employee advancement
(Further) Training Employee advancement Succession planning Health and wellness
Employee retention
Work-life Balance Employee satisfaction Remuneration and fringe benefits
Diversity
Diversity indicators Generation management Recruitmant of junior staff
Co-Determination
Operational environmental protection
Environmental management system Resource consumption
Energy consumption Paper consumption Water consumption Waste
Emissions Engagement in initiatives
Supplier management
Code of conduct for suppliers and supplier evaluation
Social Commitment
Research Support for art, culture and music Employee engagement and donations
About this report GRI Content Index
Global presence Strategic business groups

Key figures

Based on the year-end closing price of EUR 104.90, the market capitalisation of our Group as at the end of the financial year amounted to EUR 12.7 billion and was thus EUR 0.3 billion – or around 2% – higher than the previous year's figure of EUR 12.4 billion.

Figures in EUR million 2017 + / -
previous year		 2016 1 20152014 2013
Results
Gross written premium 17,790.5 +8.8% 16,353.6 17,068.714,361.8 13,963.4
Net premium earned 15,631.7 +8.5% 14,410.3 14,593.012,423.1 12,226.7
Net underwriting result (488.5) 115.9 93.8(23.6) (83.0)
Net investment income 1,773.9 +14.4% 1,550.4 1,665.11,471.8 1,411.8
Operating profit (EBIT) 1,364.4 -19.2% 1,689.3 1,755.21,466.4 1,229.1
Group net income 958.6 -18.2% 1,171.2 1,150.7985.6 895.5
 
Balance sheet
Policyholders´ surplus 10,778.5 -4.0% 11,231.4 10,267.310,239.5 8,767.9
Equity attributable to shareholders of Hannover Rück SE 8,528.5 -5.2% 8,997.2 8,068.37,550.8 5,888.4
Non-controlling interests 758.1 +2.0% 743.3 709.1702.2 641.6
Hybrid capital 1,492.0 +0.1% 1,490.8 1,489.91,986.5 2,237.8
Investments (excl. funds withheld by ceding companies) 40,057.5 -4.2% 41,793.5 39,346.936,228.0 31,875.2
Total assets 61,196.8 -3.8% 63,594.5 63,214.960,457.6 53,915.5
 
Share
Earnings per share (basic and diluted) in EUR 7.95 -18.2% 9.71 9.548.17 7.43
Book value per share in EUR 70.72 -5.2% 74.61 66.9062.61 48.83
Dividend 603.0 – 603.0 572.8512.5 361.8
Dividend per share in EUR 3.50 + 1.50 2 – 3.50 + 1.50 2 3.25 + 1.50 23.00 + 1.25 2 3.00
Share price at year-end in EUR 104.90 +2.0% 102.80 105.6574.97 62.38
Market capitalisation at year-end 12,650.6 +2.0% 12,397.4 12,741.19,041.2 7,522.8
 
Ratios
Combined ratio (property and casualty reinsurance) 3 99.8% 93.7% 94.4%94.7% 94.9%
Large losses as percentage of net premium earned (property and casualty reinsurance) 4 12.3% 7.8% 7.1%6.1% 8.4%
Retention 90.5% 89.3% 87.0%87.6% 89.0%
Return on investment (excl. funds withheld by ceding companies) 5 3.8% 3.0% 3.5%3.3% 3.4%
EBIT margin 6 8.7% 11.7% 12.0%11.8% 10.1%
Return on equity (after tax) 10.9% 13.7% 14.7%14.7% 15.0%
1 Restated pursuant to IAS 8 (cf. section 3.1 of the notes of the Annual Report 2017)
2 Dividend of EUR 3.50 plus special dividend of EUR 1.50 for 2017, dividend of EUR 3.50 plus special dividend of EUR 1.50 for 2016, dividend of EUR 3.25 plus special dividend of EUR 1.50 for 2015 and dividend of EUR 3.00 plus special dividend of EUR 1.25 for 2014
3 Including expenses on funds withheld and contract deposits
4 Hannover Re Group’s net share for natural catastrophes and other major losses in excess of EUR 10 million gross as a percentage of net premium earned
5 Excluding effects from ModCo derivatives
6 Operating result (EBIT) / net premium earned

Key personnel indicators2 of Hannover Re Group and Hannover location
2017 + / -
previous year		 201612015 20142013 2012
Hannover Re Group  
Number of employees 3,251 +12.4 % 2,8932,568 2,5342,419 2,312
Women 1,716 +22.3 % 1,4031,313 1,3031,243 1,192
Men 1,535 +3.0 % 1,4901,255 1,2311,176 1,120
Hannover location
Number of employees 1,385 +2.7 % 1,3491,337 1,2891,219 1,164
Age structure
Up to age 29 136 -11.1 % 153165 160149 141
Ages 30 to 49 869 – 869864 855814 789
Ages 30 to 49 380 +16.2 % 327308 274256 234
Proportion of women in management positions 15.4 % -0.9 %-Pkt. 16.3 %16.0 % 17.0 %15.6 % 16.8 %
Average number of training days per employee 4.0 -34.4 % 6.16.1 4.33.7 5.0
Staff turnover rate 1.9 % -1.2 %-Pkt. 3.1 %2.5 % 1.5 %2.8 % 2.8 %
Absenteeism 3.8 % -0.1 %-Pkt. 3.9 %3.8 % 3.6 %3.4 % 3.5 %
1 Until 2015 inclusive the Group-wide headcount refers only to employees working at Group companies allocable to the operational insurance business. From 2016 onwards the employees of all companies included in the financial statement of the Hannover Re Group are counted.
2 The key personnel indicators are calculated according to headcount. In this context, we consider the consolidated group in accordance with the requirements of IFRS 10 "Consolidated Financial Statements" on the basis of a consistent consolidation model for all companies that defines control without regard to whether it arises out of company law, contractual or economic circumstances. Group companies are consolidated with effect from the date on which Hannover Re gains control over them. The total number of employees also includes trainees at the Hannover location.

Asset allocation as at 31 December 2017

~90% of investments are subject to Environmental, Social and Governance (ESG) criteria.

Book value 2017: EUR 40.1 billion


Key environmental indicators at the Hannover location
20171 + / -
previous year		 20161 2015120142 20132
Total workforce 3,251 +12.4 % 2,8933 2,5682,534 2,419
Employees at the Hannover location 1,385 +2.7 % 1,349 1,3371,289 1,219
Electricity (in kWh) 8,825,131 -2.0 % 9,008,650 8,868,3458,969,975 9,114,482
Heat (in kWh) 2,946,370 -4.9 % 3,097,942 2,746,6982,748,014 3,359,694
Water (in l) 12,146,000 -27.1 % 16,664,000 17,088,00015,176,000 15,778,000
Paper (in sheets) 5,317,310 -7.6 % 5,753,750 6,600,8107,551,200 8,502,060
Waste from business operations (in kg) 176,350 +8.3 % 162,890 156,880193,760 214,250
Business trips (in km) 20,121,082 -0.6 % 20,234,0865 20,530,04320,447,867 18,185,062
CO2 emissions (in kg)43 8,283,000 -1.0 % 8,365,0005 8,581,0007,798,000 7,203,000
Data capture percentage of the environmental indicators (in % of Group employees) 42.6 % -4.0 %-Pkt. 46.6 % 52.1 %50.9 % 50.4 %
1 All premises at the Hannover location (Karl-Wiechert-Allee 50 and 57, Roderbruchstraße 21 and 26 as well as infant daycare centre)
2 All premises at the Hannover location (Karl-Wiechert-Allee 50 and 57 (pro rata), Roderbruchstraße 21 and 26 as well as infant daycare centre)
3 Until 2015 inclusive the Group-wide headcount refers only to employees working at Group companies allocable to the operational insurance business. From 2016 onwards the employees of all companies included in the financial statement of the Hannover Re Group are counted.
4 Radiative Forcing Index: 2.7
5 The present figures differ from those published in the Sustainability Report 2016 due to retrospective adjustment of the number of kilometres actually flown on business trips. This in turn necessitated an adjustment of the data on CO2 emissions.
Download
Save page My Sustainability Report (1) Company portrait

Topic related links within the report:

GRI Disclosures: 102-08404-1

Topic Navigation and sitemap

Build your tailor-made report with the topic navigation feature. By selecting the topics of your interest & choice, all relevant pages will be listed below. From there you can directly jump to the corresponding page.
By clicking the "send" button you can save the topics of your choice and consequently navigate through the report within your selection. Not relevant contents will be marked as inactive in the first navigation level and hidden in the lower navigation levels. To change or remove your selection and return to the entire report, please click on "remove selection".