Annual Report 2018

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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
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10 year overview
Stock markets Share performance Dividend Annual General Meeting Investor relations activities Sustainability reporting and ratings Shareholding structure Analyst ratings Share data
Foundations of the Group
Business model Management system
Value-based management Operational management system
Research and development
Report on economic position
Macroeconomic 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
Combined non-financial information statement
Introduction Description of the business model Group and sustainability strategy Responsible corporate governance Compliance Risk management Stakeholder dialogue Risk expertise and risk assessment Sustainable insurance solutions ESG criteria in asset management Customer orientation and satisfaction Executive development / Employee advancement Employee retention Diversity Operational environmental protection Supplier management
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 Diversity concept
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 2019
Consolidated balance sheet Statement of income Statement of comprehensive income Statement of changes in shareholders’ equity Cash flow statement Notes Independent Auditor's Report Report by the independent auditor Responsibility statement
Report of the Supervisory Board Supervisory Board Members
Global presence Strategic business groups

Operational environmental protection

The environmental impacts of our commercial operations are comparatively slight, deriving principally from business trips taken by our employees and their commuting to and from work as well as the operation of our office premises. Nevertheless, we take our responsibility for the environment very seriously. In our Sustainability Strategy we regularly define concrete targets and measures for protecting the environment and conserving resources.

Back in 2012 we put in place standard processes at the Hannover location to address environmental protection and we specified concrete measures in our environmental programme. Our environmental management system has since been recertified annually, from 2016 onwards according to the revised standard DIN EN ISO 14001:2015. Since 2016 we have also published annually a validated EMAS III Environmental Statement in fulfilment of the Europe-wide legal requirement to perform energy audits. The environmental management system records the consumption and emissions data for the Hannover sites of Hannover Rück SE, E+S Rückversicherung AG and (until the end of 2018) International Insurance Company of Hannover SE (Inter Hannover SE) as well as the associated infant daycare centre and hence covers roughly 43% of the global workforce.

The focus of our efforts to conserve the environment is on reducing CO2 emissions caused by the supply of electricity and heat to our premises as well as those resulting from our business travel. We have operated with a net zero carbon footprint at the Hannover location since 2016. The changeover to renewable energy and the offsetting of greenhouse gas emissions caused by air travel through payments to the climate protection organisation atmosfair were key factors in this achievement.

Having already converted our power supply at the Hannover location to renewables, we now want to extend this progressively to our international offices as well.

We actively support the work of local and international initiatives for climate protection. For example, we are engaged in a number of environmental conservation projects, including the local initiative “Climate Alliance Hannover 2020”.

Goal to be achieved by 2020:
Operational environmental protection
MeasuresResults
Continuous refinement of environmental managementSince 2016 our Hannover location has been carbon-neutral. In 2018 we began to record the business trips made by plane at our offices in the Asia-Pacific region. The goal is to fully offset the CO2 emissions caused there by plane travel from 2020 onwards.

In relation to our direct environmental aspects we have set various operational goals to be achieved by 2020, which are published in our EMAS environmental statement. These include, inter alia, reducing our power consumption by 10% per employee, cutting the need for climate-neutral heating energy by 5%, lowering paper consumption by 15% and maintaining our levels of water consumption and CO2 emissions.
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