Sustainability Report 2015

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About this report GRI Content Index "in accordance with Core"
Global presence Strategic business groups History

Key figures

Based on the year-end closing price of EUR 105.65 the market capitalisation of the Hannover Re Group as at the end of the financial year amounted to EUR 12.7 billion and was thus EUR 3.7 billion or 40.9% higher than the previous year's figure of EUR 9.0 billion.

Key figures
Figures in EUR million 2015 +/-
previous year		 2014 201320121 2011
Results
Gross written premium 17,068.7 +18.8% 14,361.8 13,963.413,774.2 12,096.1
Net premium earned 14,593.0 +17.5% 12,423.1 12,226.712,279.2 10,751.5
Net underwriting result 93.8 (23.6) (83.0)(96.9) (535.8)
Net investment income 1,665.1 +13.1% 1,471.8 1,411.81,655.7 1,384.0
Operating result (EBIT) 1,755.2 +19.7% 1,466.4 1,229.11,393.9 841.4
Group net income 1,150.7 +16.7% 985.6 895.5849.6 606.0
 
Balance sheet
Policyholders' surplus 10,267.3 +0.3% 10,239.5 8,767.98,947.2 7,338.2
Equity attributable to shareholders of Hannover Rück SE 8,068.3 +6.9% 7,550.8 5,888.46,032.5 4,970.6
Non-controlling interests 709.1 +1.0% 702.2 641.6681.7 636.0
Hybrid capital 1,489.9 -25.0% 1,986.5 2,237.82,233.0 1,731.6
Investments (excl. funds withheld by ceding companies) 39,346.9 +8.6% 36,228.0 31,875.231,874.4 28,341.2
Total assets 63,214.9 +4.6% 60,457.6 53,915.554,811.7 49,867.0
 
Share
Earnings per share (basic and diluted) in EUR 9.54 +16.7% 8.17 7.437.04 5.02
Book value per share in EUR 66.90 +6.9% 62.61 48.8350.02 41.22
Dividend 572.8 +11.8% 512.5 361.8361.8 253.3
Dividend per share in EUR 3.25 + 1.502 +11.8% 3.00 + 1.252 3.002.60 +0.40 2 2.10
Share price at year-end in EUR 105.65 +40.9% 74.97 62.3858.96 38.325
Market capitalisation at year-end 12,741.1 +40.9% 9,041.2 7,522.87,110.4 4,621.9
 
Ratios
Combined ratio (property and casualty reinsurance)3 94.4% 94.7% 94.9%95.8% 104.3%
Large losses as percentage of net premium earned (property and casualty reinsurance4 7.1% 6.1% 8.4%7.0% 16.5%
Rentention 87.0% 87.6% 89.0%89.8% 91.2%
Return on investment (excl. funds withheld by ceding companies)5 3.5% 3.3% 3.4%4.1% 4.1%
EBIT margin6 12.0% 11.8% 10.1%11.4% 7.8%
Return on equity (after tax) 14.7% 14.7% 15.0%15.4% 12.8%
1 Adjusted pursuant to IAS 8
2 Dividend of EUR 3.25 plus special dividend of EUR 1.50 for 2015, EUR 3.00 plus special dividend of EUR 1.25 for 2014 and EUR 2.60 plus special dividend of EUR 0.40 for 2012
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 (until 31 December 2011: in excess of EUR 5 million gross)
5 Excluding effects from ModCo derivatives and inflation swaps
6 Operating result (EBIT) / net premium earned

Key personnel indicators of the Hannover Re Group and at the Hannover location
2015 +/-
previous year		 2014 20132012 2011201020092008
Hannover Re Group    
Number of employees 2,568 1.3% 2,534 2,4192,312 2,2172,1922,0691,812
Women 1,313 0.8% 1,303 1,2431,192 1,1561,1391,090943
Men 1,255 1.9% 1,231 1,1761,120 1,0611,053979869
Hannover location    
Number of employees 1,337 3.7% 1,289 1,2191,164 1,1101,0891,032963
Age structure    
Up to age 29 165 3.1% 160 149141 140157165133
Ages 30 to 49 864 1.1% 855 814789 754743698677
Aged 50 and over 308 12.4% 274 256234 216189169153
Proportion of women in management positions 16.0% 1.0%p 17.0% 15.6%16.8% 15.5%12.3%12.0%11.8%
Average number of training days per employee 6.1 41.9% 4.3 3.75.0 5.05.06.58.0
Staff turnover rate 2.5% +1.0%p 1.5% 2.8%2.8% 4.3%1.9%2.3%3.3%
Absenteeism 3.8% +0.2%p 3.6% 3.4%3.5% 3.4%3.0%3.2%2.7%

Asset allocation of the Hannover Re Group as at 31 December 2015
~90% of investments are subject to Environmental, Social and Governance (ESG) criteria

Book value 2015: EUR 39.8 billion


Key environmental indicators of Hannover Re at the Hannover location
20151 +/-
previous year		 20141 2013120122 20113
Total workforce 2,568 +1.3% 2,534 2,4192,312 2,217
Employees at the Hannover location 1,337 + 3.7% 1,289 1,2191,164 1,110
Electricity (in kWh) 8,868,345 -1.1% 8,969,975 9,114,4828,802,262 8,214,917
Heat (in kWh) 2,746,698 -0.1% 2,748,014 3,359,6942,319,854 1,859,119
Water (in l) 17,088,000 +12.6% 15,176,000 15,778,00014,961,000 14,464,500
Paper (in sheets) 6,600,810 -12.6% 7,551,200 8,502,0608,766,000 9,172,180
Waste (in kg) 156,880 -19.0% 193,760 214,250205,790 257,400
Business trips (in km) 20,530,043 +0.4% 20,447,867 18,185,06216,654,504 17,658,598
CO2 emissions4 (in kg) 8,581,000 +10.0% 7,798,000 7,203,0004,984,000 8,123,000
Data capture percentage of the environmental indicators (in % of Group employees) 52.1% +1.2%p 50.9% 50.4%50.3% 50.1%
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 Karl-Wiechert-Allee 50, Roderbruchstraße 21 und 26 as well as infant daycare centre, Hannover
4 Karl-Wiechert-Allee 50, Roderbruchstraße 26 as well as infant daycare centre, Hannover
5 Radiative Forcing Index: 2.7
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