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

Consolidated balance sheet as at 31 December 2018

Table as Excel file: 
Assets
in EUR thousand Notes 31.12.2018 31.12.2017
Fixed-income securities – held to maturity 6.1 249,943 336,182
Fixed-income securities – loans and receivables 6.1 2,398,950 2,455,164
Fixed-income securities – available for sale 6.1 33,239,685 31,281,908
Fixed-income securities – at fair value through profit or loss 6.1 559,750 212,042
Equity securities – available for sale 6.1 28,729 37,520
Other financial assets – at fair value through profit or loss 6.1 190,759 88,832
Investment property 6.1 1,684,932 1,583,728
Real estate funds 6.1 433,899 384,974
Investments in associated companies 6.1 110,545 121,075
Other invested assets 6.1 1,805,281 1,761,678
Short-term investments 6.1 421,950 958,669
Cash and cash equivalents 6.1 1,072,915 835,706
Total investments and cash under own management 42,197,338 40,057,478
Funds withheld 6.2 10,691,768 10,735,012
Contract deposits 6.3 172,873 167,854
Total investments 53,061,979 50,960,344
Reinsurance recoverables on unpaid claims 6.7 2,084,630 1,651,335
Reinsurance recoverables on benefit reserve 6.7 909,056 959,533
Prepaid reinsurance premium 6.7 93,678 96,402
Reinsurance recoverables on other technical reserves 6.7 7,170 7,301
Deferred acquisition costs 6.4 2,155,820 2,228,246
Accounts receivable 6.4 3,975,778 3,821,124
Goodwill 6.5 85,588 91,692
Deferred tax assets 7.5 454,608 466,564
Other assets 6.6 629,420 904,253
Accrued interest and rent 11,726 10,052
Assets held for sale 4.4 1,039,184 –
Total assets 64,508,637 61,196,846
Table as Excel file: 
Liabilities
in EUR thousand Notes 31.12.2018 31.12.2017
Loss and loss adjustment expense reserve 6.7 28,758,575 28,378,545
Benefit reserve 6.7 9,184,356 8,977,946
Unearned premium reserve 6.7 3,166,964 3,541,194
Other technical provisions 6.7 575,996 394,460
Funds withheld 6.8 969,261 974,786
Contract deposits 6.9 3,611,654 3,949,207
Reinsurance payable 1,156,231 980,241
Provisions for pensions 6.10 182,291 177,786
Taxes 7.5 244,093 319,845
Deferred tax liabilities 7.5 1,700,082 1,819,867
Other liabilities 6.11 612,093 654,338
Long-term debt and notes payable 6.12 2,558,884 1,742,073
Liabilities related to assets held for sale 4.4 2,246,129 –
Total liabilities 54,966,609 51,910,288
Shareholders’ equity
Common shares 6.13 120,597 120,597
Nominal value: 120,597
Conditional capital: 60,299		 6.13
Additional paid-in capital 724,562 724,562
Common shares and additional paid-in capital 845,159 845,159
Cumulative other comprehensive income
Unrealised gains and losses on investments 346,509 818,350
Cumulative foreign currency translation adjustment 201,369 (62,548)
Changes from hedging instruments (3,160) (6,292)
Other changes in cumulative other comprehensive income (53,364) (50,598)
Total other comprehensive income 491,354 698,912
Retained earnings 7,440,278 6,984,407
Equity attributable to shareholders of Hannover Rück SE 8,776,791 8,528,478
Non-controlling interests 6.14 765,237 758,080
Total shareholders’ equity 9,542,028 9,286,558
Total liabilities 64,508,637 61,196,846
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