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 statement of income 2018

Table as Excel file: 
in EUR thousand Notes 1.1. – 31.12.2018 1.1. – 31.12.2017
Gross written premium 7.1 19,176,358 17,790,506
Ceded written premium 1,778,826 1,696,082
Change in gross unearned premium (128,268) (437,768)
Change in ceded unearned premium 19,869 (24,986)
Net premium earned 17,289,133 15,631,670
Ordinary investment income 7.2 1,321,712 1,289,033
Profit / loss from investments in associated companies 7.2 4,977 16,006
Realised gains and losses on investments 7.2 127,659 377,093
Change in fair value of financial instruments 7.2 31,160 38,569
Total depreciation, impairments and appreciation of investments 7.2 49,124 70,949
Other investment expenses 7.2 114,342 110,778
Net income from investments under own management 1,322,042 1,538,974
Income / expense on funds withheld and contract deposits 7.2 207,987 234,915
Net investment income 1,530,029 1,773,889
Other technical income 7.3 599 822
Total revenues 18,819,761 17,406,381
Claims and claims expenses 7.3 12,569,150 12,193,079
Change in benefit reserves 7.3 50,791 (571)
Commission and brokerage, change in deferred acquisition costs 7.3 4,271,736 3,499,270
Other acquisition costs 21,018 14,141
Other technical expenses 7.3 4,804 3,781
Administrative expenses 7.3 423,343 411,297
Total technical expenses 17,340,842 16,120,997
Other income 7.4 1,084,511 990,174
Other expenses 7.4 966,781 911,203
Other income/expenses 7.4 117,730 78,971
Operating profit / loss (EBIT) 1,596,649 1,364,355
Financing costs 6.12 78,261 71,736
Net income before taxes 1,518,388 1,292,619
Taxes 7.5 372,861 248,042
Net income 1,145,527 1,044,577
thereof
Non-controlling interest in profit and loss 6.14 86,034 86,022
Group net income 1,059,493 958,555
Earnings per share (in EUR) 8.5
Basic earnings per share 8.79 7.95
Diluted earnings per share 8.79 7.95
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