|Balance sheet structure of Hannover Rück SE|
|in EUR thousand||2018||2017|
|Prepayments and accrued income||180,444||165,263|
|Capital and reserves||2,967,716||2,905,716|
|Provisions for other risks and charges||402,140||371,949|
|Deposits received from retrocessionaires||2,246,672||1,907,577|
Our portfolio of assets under own management grew in the year under review to EUR 28.7 billion (EUR 26.5 billion), equivalent to an increase of 8.7%. Along with the positive operating cash flow, this reflects the fact that the issuance of a senior bond in the second quarter and exchange rate effects more than offset the valuation declines on fixed-income securities. The balance of unrealised gains on fixed-income securities and bond funds decreased to EUR 366.6 million (EUR 662.9 million). In addition to the yield increases on USD- and GBP-denominated sovereign bonds already mentioned, this is a reflection of sometimes substantially higher risk premiums on corporate bonds across all rating categories.
Deposits with ceding companies, which are shown under the investments, remained stable in the year under review at EUR 8.1 billion (EUR 8.0 billion).
Our capital and reserves – excluding the disposable profit – stood at EUR 1,631.7 million (EUR 1,631.7 million). The total capital, reserves and technical provisions – comprised of the capital and reserves excluding disposable profit, the subordinated liabilities, the equalisation reserve and similar provisions as well as the net technical provisions – increased during the year under review to EUR 34,674.8 million (EUR 33,358.4 million). The balance sheet total of Hannover Rück SE grew to EUR 40.8 billion (EUR 37.9 billion).
A dividend of EUR 3.50 plus a special dividend of EUR 1.50 per share, equivalent to EUR 603.0 million (EUR 603.0 million), was paid out in the year under review for the 2017 financial year.
It will be proposed to the Annual General Meeting on 8 May 2019 that a dividend of EUR 3.75 plus a special dividend of EUR 1.50 per share should be paid for the 2018 financial year. This corresponds to a total distribution of EUR 633.1 million. The dividend proposal does not form part of this consolidated financial statement.