Annual Report 2016

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10 year overview
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Consolidated balance sheet Statement of income Statement of comprehensive income Statement of changes in shareholders’ equity Cash flow statement Notes Auditor's report Responsibility statement
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Financial strength ratings

A.M. Best and Standard & Poor’s, the rating agencies of particular relevance to the insurance industry, assess the financial strength of Hannover Re on the basis of an interactive rating process and have awarded it very good ratings. The rating agencies highlight in particular the strength of the Hannover Re Group’s competitive position, its capitalisation and its risk management.

Financial strength ratings of the Hannover Re Group
Standard & Poor'sA.M. Best
RatingAA- (Very Strong)A+ (Superior)
Outlookstablestable
Financial strength ratings of subsidiaries
Standard & Poor'sA.M. Best
E+S Rückversicherung AGAA–A+
Hannover Life Reassurance Africa Ltd.1BBB+–
Hannover Life Reassurance Bermuda Ltd.AA–A+
Hannover Life Reassurance Company of AmericaAA–A+
Hannover Life Re of Australasia Ltd.AA––
Hannover Reinsurance Africa Ltd.1BBB+–
Hannover Re (Ireland) Designated Activity CompanyAA–A+
Hannover Re (Bermuda) Ltd.AA–A+
Hannover ReTakaful B.S.C. ( c )A+–
International Insurance Company of Hannover SEAA–A+
1 With regard to the financial strength ratings of the South African subsidiaries we would also refer to our remarks in section 8.10 of the notes Events after the balance sheet date.

Issue ratings of issued debt

As part of the process of rating Hannover Re the rating agencies also assess the debt issued by the Hannover Re Group.

Issue ratings of issued debt
Standard & Poor'sA.M. Best
Hannover Rück SE, subordinated debt, EUR 500 million; 2014 / undatedAa
Hannover Finance (Luxembourg) S.A., subordinated debt, EUR 500 million; 2012 / 2043Aa+
Hannover Finance (Luxembourg) S.A., subordinated debt, EUR 500 million; 2010 / 2040Aa+
Analysis of the consolidated cash flow statement
Information pursuant to § 315
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