PDF (481 KB)
Half-yearly Financial Report 2022
Key figures
|
in EUR million |
2022 |
2021 |
||||||||||||||
|
1.1.- |
1.4.- |
+/- |
1.1.- |
+/- |
1.4.- |
1.1.- |
31.12. |
|||||||||
|
31.3. |
30.6. |
previous |
30.6. |
previous |
30.6. |
30.6. |
||||||||||
|
year |
year |
|||||||||||||||
|
Results |
||||||||||||||||
|
Gross written premium |
9,333.4 |
8,008.9 |
+20.3% |
17,342.4 |
+19.9% |
6,655.3 |
14,464.6 |
|||||||||
|
Net premium earned |
6,710.2 |
7,056.5 |
+21.2% |
13,766.7 |
+19.6% |
5,822.6 |
11,515.3 |
|||||||||
|
Net underwriting result ¹ |
(102.0) |
62.2 |
-37.1% |
(39.8) |
-132.0% |
98.9 |
124.3 |
|||||||||
|
Net investment income |
483.9 |
496.1 |
+16.8% |
980.0 |
+13.2% |
424.7 |
865.8 |
|||||||||
|
Operating profit (EBIT) |
396.4 |
522.9 |
-5.3% |
919.3 |
-3.9% |
552.3 |
956.1 |
|||||||||
|
Group net income |
263.6 |
385.1 |
+5.6% |
648.7 |
-3.3% |
364.7 |
670.6 |
|||||||||
|
Balance sheet |
||||||||||||||||
|
Policyholders' surplus |
14,464.9 |
12,661.1 |
-19.5% |
14,859.2 |
15,733.6 |
|||||||||||
|
Equity attributable to sharehold- |
||||||||||||||||
|
ers of |
10,694.6 |
8,969.3 |
-24.5% |
11,050.6 |
11,885.0 |
|||||||||||
|
Non-controlling interests |
792.1 |
712.6 |
-18.2% |
831.7 |
871.2 |
|||||||||||
|
Hybrid capital |
2,978.2 |
2,979.2 |
+0.1% |
2,976.9 |
2,977.4 |
|||||||||||
|
Investments (excl. Funds withheld |
||||||||||||||||
|
by ceding companies) |
56,245.2 |
56,230.5 |
+0.0% |
52,847.7 |
56,213.2 |
|||||||||||
|
Total assets |
86,307.1 |
87,802.8 |
+5.9% |
78,099.2 |
82,902.3 |
|||||||||||
|
Share |
||||||||||||||||
|
Earnings per share (basic and di- |
||||||||||||||||
|
luted) in EUR |
2.19 |
3.19 |
+5.6% |
5.38 |
-3.3% |
3.02 |
5.56 |
|||||||||
|
Book value per share in EUR |
88.68 |
74.37 |
-24.5% |
91.63 |
98.55 |
|||||||||||
|
Share price at the end of the pe- |
||||||||||||||||
|
riod in EUR |
154.35 |
138.50 |
-17.1% |
141.10 |
167.15 |
|||||||||||
|
Market capitalisation at the end of |
||||||||||||||||
|
the period |
18,614.2 |
16,702.7 |
-17.1% |
17,016.3 |
20,157.8 |
|||||||||||
|
Ratios |
||||||||||||||||
|
Combined ratio (property and ca- |
||||||||||||||||
|
sualty reinsurance) ¹ |
99.5% |
98.6% |
99.0% |
95.7% |
96.0% |
|||||||||||
|
Large losses as percentage of net |
||||||||||||||||
|
premium earned (property and ca- |
||||||||||||||||
|
sualty reinsurance) ² |
7.0% |
10.2% |
8.7% |
3.3% |
4.2% |
|||||||||||
|
Retention |
92.0% |
89.7% |
90.9% |
89.2% |
90.4% |
|||||||||||
|
Retuon investment (excl. funds |
||||||||||||||||
|
withheld by ceding companies) |
3.1% |
3.0% |
3.0% |
2.9% |
2.7% |
|||||||||||
|
EBIT margin ³ |
5.9% |
7.4% |
6.7% |
9.5% |
8.3% |
|||||||||||
|
Retuon equity (after tax) |
9.3% |
15.7% |
12.4% |
13.2% |
12.2% |
10.8% |
||||||||||
¹ Including interest on funds withheld and contract deposits
Hannover Re Group's net share for natural catastrophes and other major losses in excess ofEUR 10 million gross as a percentage of net premium earned ³ Operating result (EBIT)/net premium earned
|
2 |
|
|
|
3 |
Chairman of the
Executive Board
Dear shareholders, ladies and gentlemen,
As a gesture of solidarity we were quick to make a donation for those who have been impacted, and it fills me with pride to see the selfless engagement shown by so many of our employees through their own efforts. We support them in any way we can.
Despite war, pandemic and other challenges, we were able to generate a satisfactory result in the first half of 2022 thanks to our prudent risk and capital management.
Our consistently strong and profitable growth shows just how sought-after
|
4 |
|
Permit me, if I may, to briefly shed some light on two aspects of our risk management. In view of the recent sharp surge in inflation rates our investments are currently benefiting from the holding of inflation-linked bonds that we had already built up some years ago. As far as the costs of the excess mortality connected with the Covid-19 pandemic are concerned, we are helped by an extreme mortality cover that we had similarly taken out years ago as partial protection against such events. This prudent approach to risk management that we have put in place for ourselves is something that we also offer our customers.
Along with risk management, capital management is another of
I would also not wish to omit mention of our latest sustainability report, which we published last month. One aspect here, namely the adjustment to climate change, presents a major social and economic challenge that we must all face up to. Our sustainability report offers a detailed account of the progress made by
In closing, I would like to convey my thanks - also on behalf of the entire Executive Board - to our employees, whose unfailing dedication in these challenging times is the decisive factor in our success. Special thanks also go out to you, our shareholders, for the trust you place in us. Going forward, as we have in the past, we shall do everything in our power to live up to this trust. As one of the most profitable reinsurers in the world, it remains our goal to play an important part in mitigating the financial consequences of catastrophic events in order to make all our lives more secure and to make the unpredictable more manageable.
I would like to end by expressing the hope that I will not have to dwell on any new unwelcome surprises and human tragedies in my next letter to shareholders. Whatever the future may hold in store for us, these are the uncertainties that we - as a reinsurer - must manage through our work so as to make them manageable for our clients.
Yours sincerely,
Chairman of the Executive Board
|
|
5 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Disclaimer



Health Insurance Exchange Market to Observe Strong Development by : Allianz Care, Aviva Axa S.A.: Health Insurance Exchange Market Size, Share, Future Growth and Opportunity Assessment 2021-2027
Long Term Care Insurance Market Is Booming Worldwide : Humana, State Farm Insurance, Transamerica
Advisor News
- Why timing the market is still a retirement mistake and what to do instead
- Business owners may be overlooking a key part of their financial picture
- How smart investments prepare clients for inflation
- Amid slew of corporate tax ideas, Newsom chose one likely to hit people’s premiums
- The biggest risk to your clients’ financial plans isn’t market volatility
More Advisor NewsAnnuity News
- Best’s Special Report: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Decline in Total Income in First-Quarter 2026
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Fortitude Re Completes $500 Million FABN Issuance
- Reframing retirement income for greater certainty
- Jackson Introduces Dow Jones Industrial Average Index Option, Flexible Premiums, Six-Year Rate Guarantee in Latest Registered Index-Linked Annuity Launch
More Annuity NewsHealth/Employee Benefits News
- How much money do Connecticut residents need to retire comfortably?
- Humana Awarded Statewide Illinois HealthChoice Medicaid Contract, Expanding Access to Care Across the State
- What to know: Federal cuts impact Essential Plan; cuts start July 1
- Guv wannabees: ‘It’s health care costs, stupid!’
- One year after steepest premium increase in a decade, RI health insurers seek double-digit hikes
More Health/Employee Benefits NewsLife Insurance News
- How much money do Connecticut residents need to retire comfortably?
- Advocates: Life insurers potentially missing millions of deaths annually
- How much money do Connecticut residents need to retire comfortably?
- Sparks Financial Announces Addition of Industry Leader Scott Theodore
- AM Best Assigns Issue Credit Rating to Massachusetts Mutual Life Insurance Company’s New Surplus Notes
More Life Insurance News