Annual Report 2022

» In the 2022 financial year we once again demonstrated our resilience and our earning power. While expenditures related to the Covid-19 pandemic and major losses such as hurricane „Ian“ or reserves constituted for the war in Ukraine took a toll on the result of our Property&Casualty reinsurance business group, we generated a solid Group net income of EUR 1.4 billion thanks to good profit contributions from the investments and our life and health reinsurance business. This shows once again just how important the diversification of our business is. «
Jean-Jacques Henchoz
Chairman of the Executive Board
Foreword

Hannover Re Group

Gross premium

in EUR m.

Group net income

in EUR m.

Return on equity

14.1 %

Proposed ordinary dividend for 2022

Dividend of
EUR  6.00
EUR 5.00 ordinary dividend + EUR 1.00 special dividend

Solvency II ratio

31.12.2022
252 %

Relative Performance of the Hannover Re share
(including reinvested dividends in %)

More on the Hannover Re share

Outlook for 2023

Reinsurance revenue

≥ 5%

Return on investment

≥ 2.4%

Group net income

≥ EUR  1.7 bn.
More on Outlook 2023

 

Property & Casualty reinsurance


Gross premium

EBIT

  • Trend towards rate increases in the treaty renewals gains added momentum
  • Large loss expenditure including provision for possible losses from the Ukraine war higher than budgeted
  • Combined ratio rises to 99.8%
More on P&C reinsurance

Life & Health reinsurance


Gross premium

EBIT

  • Sustained customer interest particularly in longevity covers and financial solutions
  • Strains from the Covid-19 pandemic substantially lower
More on L&H reinsurance

Investments


Assets under own management
 

Net income from assets under own management

  • Highly satisfactory investment performance despite continued challenging market environment
  • Higher income from inflation-linked bonds and real estate
  • Return on investment surpasses target of more than 2.5% to reach 3.2%
More on Investments

Property & Casualty reinsurance


Gross premium

EBIT

  • Trend towards rate increases in the treaty renewals gains added momentum
  • Large loss expenditure including provision for possible losses from the Ukraine war higher than budgeted
  • Combined ratio rises to 99.8%
More on P&C reinsurance

Life & Health reinsurance


Gross premium

EBIT

  • Sustained customer interest particularly in longevity covers and financial solutions
  • Strains from the Covid-19 pandemic substantially lower
More on L&H reinsurance

Investments


Assets under own management
 

Net income from assets under own management

  • Highly satisfactory investment performance despite continued challenging market environment
  • Higher income from inflation-linked bonds and real estate
  • Return on investment surpasses target of more than 2.5% to reach 3.2%
More on Investments