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

Consolidated statement of income as at 30 June 2018

Table as Excel file:

in EUR thousand	1.4. – 30.6.2018	1.1. – 30.6.2018	1.4. – 30.6.2017¹	1.1. – 30.6.2017¹
Gross written premium	4,640,331	9,985,292	4,450,979	8,997,598
Ceded written premium	397,853	864,109	403,423	874,503
Change in gross unearned premium	102,130	(838,379)	(240,521)	(634,934)
Change in ceded unearned premium	1,756	62,838	(12,002)	44,964
Net premium earned	4,346,364	8,345,642	3,795,033	7,533,125
Ordinary investment income	316,674	632,476	316,018	635,107
Profit/loss from investments in associated companies	529	1,792	1,265	5,653
Realised gains and losses on investments	4,536	53,380	59,278	83,361
Change in fair value of financial instruments	13,499	19,561	(359)	10,586
Total depreciation, impairments and appreciation of investments	10,041	21,060	12,191	23,056
Other investment expenses	28,154	56,347	27,974	55,624
Net income from investments under own management	297,043	629,802	336,037	656,027
Income/expense on funds withheld and contract deposits	55,091	113,796	50,490	123,380
Net investment income	352,134	743,598	386,527	779,407
Other technical income	55	76	–	808
Total revenues	4,698,553	9,089,316	4,181,560	8,313,340
Claims and claims expenses	3,064,975	6,019,196	2,938,919	5,801,366
Change in benefit reserves	(34,610)	(58,803)	(33,839)	(70,886)
Commission and brokerage, change in deferred acquisition costs	1,135,499	2,052,933	822,114	1,649,439
Other acquisition costs	4,737	10,578	6,333	14,575
Other technical expenses	829	1,910	1,043	1,884
Administrative expenses	111,534	219,332	115,860	216,364
Total technical expenses	4,282,964	8,245,146	3,850,430	7,612,742
Other income and expenses	57,795	63,111	68,418	98,828
Operating profit (EBIT)	473,384	907,281	399,548	799,426
Financing costs	19,963	37,684	18,117	35,825
Net income before taxes	453,421	869,597	381,431	763,601
Taxes	156,568	273,373	94,000	189,785
Net income	296,853	596,224	287,431	573,816
thereof
Non-controlling interest in profit and loss	14,958	40,919	17,218	38,802
Group net income	281,895	555,305	270,213	535,014
Earnings per share (in EUR)
Basic earnings per share	2.34	4.60	2.24	4.44
Diluted earnings per share	2.34	4.60	2.24	4.44
¹ Restated pursuant to IAS 8

Half-yearly Financial Report 2018

Consolidated statement of income as at 30 June 2018

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