Half-yearly Financial Report 2018

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Property and casualty reinsurance Life and health reinsurance Investments
Risk landscape of Hannover Re Strategy implementation External factors Risk capital Risk management Risk manangement system Internal control system Internal risk assessment Risks in property and casualty reinsurance Risks in life and health reinsurance Market risks Counterparty default risks Operational risks Other risks
Overall assessment by the Executive Board
Forecast Events after the reporting date
Balance sheet Statement of income Statement of comprehensive income Statement of changes in shareholders’ equity Cash flow statement
Global presence Strategic business groups History

Key figures

in EUR million 2018 2017
1.1. – 31.3. 1.4 – 30.6. +/–
previous year		 1.1. – 30.6. +/–
previous year		 1.4 – 30.6.1 1.1. – 30.6.1 31.12.
Results              
Gross written premium 5,345.0 4,640.3 +4.3% 9,985.3 +11.0% 4,451.0 8,997.6  
Net premium earned 3,999.3 4,346.4 +14.5% 8,345.6 +10.8% 3,795.0 7,533.1  
Net underwriting result 37.1 63.5 100.6 (55.4) (78.8)  
Net investment income 391.5 352.1 -8.9% 743.6 -4.6% 386.5 779.4  
Operating profit (EBIT) 433.9 473.4 +18.5% 907.3 +13.5% 399.5 799.4  
Group net income 273.4 281.9 +4.3% 555.3 +3.8% 270.2 535.0
 
Balance sheet  
Policyholders´ surplus 10,559.8 10,547.4 -2.1% 10,788.4 10,778.5
Equity attributable to shareholders of Hannover Rück SE 8,353.6 8,321.7 -2.4% 8,562.2 8,528.5
Non-controlling interests 714.0 732.9 -3.3% 734.6 758.1
Hybrid capital 1,492.3 1,492.8 +0.1% 1,491.6 1,492.0
Investments (excl. funds withheld by ceding companies) 40,446.4 40,891.7 +2.1% 40,393.0 40,057.5
Total assets 62,542.3 63,950.1 +4.5% 62,039.9 61,196.8
 
Share
Earnings per share (basic and diluted) in EUR 2.27 2.34 +4.3% 4.60 +3.8% 2.24 4.44
Book value per share in EUR 69.27 69.00 -2.4% 71.00 70.72
Share price at the end of the period in EUR 110.90 106.80 +1.8% 104.95 104.90
Market capitalisation at the end of the period 13,374.2 12,879.8 +1.8% 12,656.7 12,650.6
   
Ratios  
Combined ratio (property and casualty reinsurance)2 95.9% 95.6% 95.7% 97.4% 96.5%  
Large losses as percentage of net premium earned (property and casualty reinsurance)3 3.0% 0.7% 1.8% (0.5%) 2.8%  
Retention 91.3% 91.4% 91.3% 90.9% 90.3%  
Return on investment (excl. funds withheld by ceding companies)4 3.4% 2.9% 3.1% 3.2% 3.2%  
EBIT margin5 10.8% 10.9% 10.9% 10.5% 10.6%  
Return on equity (after tax) 13.0% 13.5% 13.2% 12.1% 12.2%  

  • 1 Restated pursuant to IAS 8
  • 2 Including funds withheld
  • 3 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
  • 4 Excluding effects from ModCo derivatives
  • 5 Operating result (EBIT)/net premium earned
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