Annual Report 2016

Hannover Re Website | Sitemap | Deutsch
Topic Navigation
Quick Finder
Business development Business model Cash Flow Statement Consolidated Balance Sheet Consolidated Statement of Income Financial position and net assets Forecast Remuneration report Results of operations Risk report Segmental Report
10 year overview
Stock markets Share performance Dividend Annual General Meeting Investor relations activities Shareholding structure Analysts' expectations Share data
Strategic principles Strategy in practice
Foundations of the Group
Business model Management system
Value-based management Operational management system
Research and development
Report on economic position
Macroeconomic climate and industry-specific environment
Macroeconomic climate Industry-specific environment
Business development
Property & Casualty reinsurance Life & Health reinsurance Investments Total result
Overall assessment of the business position Results of operations
Property & Casualty reinsurance Life & Health reinsurance Investments
Financial position and net assets
Investment policy Investments Analysis of the capital structure Management of policyholders’ surplus Group shareholders’ equity Financing and Group debt Analysis of the consolidated cash flow statement Financial strength ratings Information pursuant to § 315
Information on Hannover Rück SE
Results of operations Development of the individual lines of business Assets and financial position Risks and opportunities Other information Outlook
Other success factors
Our staff
Key personnel ratios Health management Recruitment efforts Employee survey Thanks to our staff
Sustainability at Hannover Re
Our sustainability strategy Governance and dialogue Product responsibility Attractive employer Environmental protection
Opportunity and risk report
Risk report
Strategy implementation Major external factors Risk capital Risk management Risk management system Internal control system Risk landscape of Hannover Re Internal risk assessment Underwriting risks in property and casualty reinsurance Underwriting risks in life and health reinsurance Market risks Counterparty default risks Operational risks Other risks
Opportunity report
Overall assessment by the Executive Board
Enterprise management
Declaration on Corporate Governance
Corporate Governance Declaration of Conformity Further enterprise management principles Working practice of the Executive Board and Supervisory Board Compliance Risk monitoring and steering
Remuneration report
Remuneration Executive Board Remuneration Supervisory Board Loans to members of the management boards and contingent liabilities Securities transactions and shareholdings Remuneration of staff and senior executives
Outlook
Forecast
Economic developments Property & Casualty reinsurance Life & Health reinsurance Investments Outlook 2017
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
Report of the Supervisory Board Supervisory Board Members
Global presence Strategic business groups

6.11 Other liabilities

Other liabilities
in EUR thousand20162015
Liabilities from derivatives186,763170,004
Interest31,38730,908
Deferred income32,57928,819
Direct minority interests in partnerships6,47525,155
Sundry non-technical provisions199,626191,711
Sundry liabilities223,566252,336
Total680,396698,933

Of this, other liabilities of EUR 7.6 million (EUR 10.4 million) are attributable to affiliated companies.

With regard to the liabilities from derivatives in an amount of EUR 186.8 million (EUR 170.0 million), please see our explanatory remarks on derivative financial instruments in Section 8.1 “Derivative financial instruments and financial guarantees”.

The sundry liabilities include, most notably, distributions within the year of EUR 76.9 million (EUR 84.6 million) from interests in private equity funds that had still to be recognised in income as at the balance sheet date.

Development of sundry non-technical provisions
in EUR thousandBalance at
31 December
2015		Currency
translation
at 1 January		Balance at
1 January of
the year under
review		Changes in
consolidated group		AdditionsUtilisationReleaseCurrency
translation at
31 December		Balance at 31 December 2016
Provisions for      
Audits and costs of publishing the annual financial statements7,092417,133(1)6,9746,51555387,574
Consultancy fees1,805161,821–2,3801,783170(3)2,245
Suppliers’ invoices11,04012111,161(4)9,57415,715521(14)4,481
Partial retirement arrangements and early retirement obligations2,518(7)2,511–(245)333––1,933
Holiday entitlements and overtime9,2331119,344–5,8365,253–(3)9,924
Anniversary bonuses3,664243,688–74727–104,418
Management bonuses36,88659437,48012829,88423,9854389043,159
Other119,473720120,1934543,21027,06710,640151125,892
Total191,7111,620193,33116898,36080,67811,824269199,626
 

The maturities of the sundry non-technical provisions as at the balance sheet date are shown in the following table:

Maturities of the sundry non-technical provisions
in EUR thousand20162015
Due in one year98,65286,075
Due after one through five years94,488101,640
Due after five years6,4863,996
Total199,626191,711
6.10 Provisions for pensions and other post-employment benefit obligations
6.12 Debt and subordinated capital
Download

Download this chapter as a PDF file:

Notes
More Information

Topic related links within the report:

8.1 Derivative financial instruments and financial guarantees
Services
My Annual Report (0) Quick Analyser Save page Download Centre Order report Financial Calendar
History

Your last visited pages:

6.11 Other liabilities

Topic Navigation and sitemap

Build your tailor-made report with the topic navigation feature. By selecting the topics of your interest & choice, all relevant pages will be listed below. From there you can directly jump to the corresponding page.
By clicking the "send" button you can save the topics of your choice and consequently navigate through the report within your selection. Not relevant contents will be marked as inactive in the first navigation level and hidden in the lower navigation levels. To change or remove your selection and return to the entire report, please click on "remove selection".