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Management report
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Combined non-financial information statement
- Introduction
- Description of the business model
- Group and sustainability strategy
- Responsible corporate governance
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Opportunity and risk report
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Risk report
- Strategy implementation
- Major external factors
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- 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
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- Operational risks
- Other risks
- Opportunity report
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Risk report
- Enterprise management
- Outlook
- Accounts
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Outlook
In view of the interrelations between the parent company and the Group companies and the former’s large share of business within the Group, we would refer here to our remarks contained in the section entitled “Outlook for 2019”, which also reflect the expectations for Hannover Rück SE.
Hannover Re expects to generate a good profit on ordinary activities for the current financial year, although it will probably not quite reach the level of 2018. In terms of the ordinary dividend, Hannover Re envisages a payout ratio in the range of 35% to 45% of its IFRS Group net income. The ordinary dividend will be supplemented by payment of a special dividend if the present comfortable level of capitalisation remains unchanged in light of capital management considerations.