Sustainability Report 2016

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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 102.80, the market capitalisation of our Group as at the end of the financial year amounted to EUR 12.4 billion and was thus EUR 0.3 billion – or 2.7% – lower than the previous year's figure of EUR 12.7 billion.

Figures in EUR million 2016 + / -
previous year		 2015 20142013 20121
Results
Gross written premium 16,353.6 -4.2% 17,068.7 14,361.813,963.4 13,774.2
Net premium earned 14,417.6 -1.2% 14,593.0 12,423.112,226.7 12,279.2
Net underwriting result 115.9 +23.6% 93.8 (23.6)(83.0) (96.9)
Net investment income 1,550.4 -6.9% 1,665.1 1,471.81,411.8 1,655.7
Operating profit (EBIT) 1,689.3 -3.8% 1,755.2 1,466.41,229.1 1,393.9
Group net income 1,171.2 +1.8% 1,150.7 985.6895.5 849.6
 
Balance sheet
Policyholders´ surplus 11,231.4 +9.4% 10,267.3 10,239.58,767.9 8,947.2
Equity attributable to shareholders of Hannover Rück SE 8,997.2 +11.5% 8,068.3 7,550.85,888.4 6,032.5
Non-controlling interests 743.3 +4.8% 709.1 702.2641.6 681.7
Hybrid capital 1,490.8 +0.1% 1,489.9 1,986.52,237.8 2,233.0
Investments (excl. funds withheld by ceding companies) 41,793.5 +6.2% 39,346.9 36,228.031,875.2 31,874.4
Total assets 63,528.6 +0.5% 63,214.9 60,457.653,915.5 54,811.7
 
Share
Earnings per share (basic and diluted) in EUR 9.71 +1.8% 9.54 8.177.43 7.04
Book value per share in EUR 74.61 +11.5% 66.90 62.6148.83 50.02
Dividend 603.02 +5.3% 572.8 512.5361.8 361.8
Dividend per share in EUR 3.50 + 1.502 +5.3% 3.25 + 1.502 3.00 + 1.2523.00 2.60 + 0.402
Share price at year-end in EUR 102.80 -2.7% 105.65 74.9762.38 58.96
Market capitalisation at year-end 12,397.4 -2.7% 12,741.1 9,041.27,522.8 7,110.4
 
Ratios
Combined ratio (property and casualty reinsurance)3 93.7% 94.4% 94.7%94.9% 95.8%
Large losses as percentage of net premium earned (property and casualty reinsurance)4 7.8% 7.1% 6.1%8.4% 7.0%
Retention 89.3% 87.0% 87.6%89.0% 89.8%
Return on investment (excl. funds withheld by ceding companies)5 3.0% 3.5% 3.3%3.4% 4.1%
EBIT margin6 11.7% 12.0% 11.8%10.1% 11.4%
Return on equity (after tax) 13.7% 14.7% 14.7%15.0% 15.4%
1  Adjusted pursuant to IAS 8
2  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, 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
5  Excluding effects from ModCo derivatives
6  Operating result (EBIT) / net premium earned

Key personnel indicators
20161 2015 20142013 2012201120102009
Hannover Re Group
Number of employees 2,893 2,568 2,5342,419 2,3122,2172,1922,069
Women 1,403 1,313 1,3031,243 1,1921,1561,1391,090
Men 1,490 1,255 1,2311,176 1,1201,0611,053979
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.
2016 + / –
previous year		 2015 20142013 2012201120102009
Hannover location
Number of employees 1,349 0.9% 1,337 1,2891,219 1,1641,1101,0891,032
Age structure
Up to age 29 153 -7.3% 165 160149 141140157165
Age 30 to 49 869 0.6% 864 855814 789754743698
Age 50 and over 327 6.2% 308 274256 234216189169
Proportion of women in management positions 16.3% 0.3%p 16.0% 17.0%15.6% 16.8%15.5%12.3%12.0%
average number of training days per employee 6.1 0.0% 6.1 4.33.7 5.05.05.06.5
Staff turnover rate 3.1% 0.6%p 2.5% 1.5%2.8% 2.8%4.3%1.9%2.3%
Absenteeism 3.9% 0.1%p 3.8% 3.6%3.4% 3.5%3.4%3.0%3.2%

Asset allocation as at 31 December 2016

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

Book value 2016: EUR 42.3 billion


Key environmental indicators at the Hannover location
20161 + / -
previous year		 20151 2014220132 20122
Total workforce 2,8933 4,7% 2,568 2,5342,419 2,312
Employees at the Hannover location 1,349 0,9% 1,337 1,2891,219 1,164
Electricity (in kWh) 9,008,650 1,6% 8,868,345 8,969,9759,114,482 8,802,262
Heat (in kWh) 3,097,942 12,8% 2,746,698 2,748,0143,359,694 2,319,854
Water (in l) 16,664,000 -2,5% 17,088,000 15,176,00015,778,000 14,961,000
Paper (in sheets) 5,753,750 -12,8% 6,600,810 7,551,2008,502,060 8,766,000
Waste (in kg) 162,890 3,8% 156,880 193,760214,250 205,790
Business trips (in km) 20,738,566 1,0% 20,530,043 20,447,86718,185,062 16,654,504
CO2 emissions4 (in kg) 9,023,000 5,2% 8,581,000 7,798,0007,203,000 4,984,000
Data capture percentage of the environmental indicators (in % of Group employees) 46.6% -1,8%p 52.1% 50.9%50.4% 50.3%
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
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