Statement of enterprise management practices

Hannover Re’s objective continues to be the further expansion of its position as a major, well diversified reinsurer of above-average profitability with a fast, flexible and undogmatic business approach. With motivation, power of innovation and the quality of our services we strive to be one of the three most profitable reinsurers in the world by boosting our profit and the value of the company by a double-digit percentage every year. All other goals, such as profitable growth, the protection of capital, motivated staff and a lean organisation, are derived from this overriding objective (http://www.hannover-re.com/ about/strategy/index.html).