Annual Report 2017

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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 climate and industry-specific 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
Group non-financial information statement
Introduction Description of the business model Group and sustainability strategy Responsible enterprise management Compliance Stakeholder dialogue Sustainable insurance solutions ESG criteria in asset management Customer orientation and satisfaction Executive development / Employee advancement Employee retention Diversity
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
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 2018
Consolidated balance sheet Statement of income Statement of comprehensive income Statement of changes in shareholders’ equity Cash flow statement Notes Auditor's report Responsibility statement
Report of the Supervisory Board Supervisory Board Members
Global presence Strategic business groups History

Consolidated balance sheet as at 31 December 2017

Table as Excel file: 
Assets
in EUR thousand Notes 31.12.2017 31.12.2016 1
Fixed-income securities – held to maturity 6.1 336,182 484,955
Fixed-income securities – loans and receivables 6.1 2,455,164 2,563,594
Fixed-income securities – available for sale 6.1 31,281,908 32,182,173
Fixed-income securities – at fair value through profit or loss 6.1 212,042 239,917
Equity securities – available for sale 6.1 37,520 905,307
Other financial assets – at fair value through profit or loss 6.1 88,832 57,665
Real estate and real estate funds 6.1 1,968,702 1,792,919
Investments in associated companies 6.1 121,075 114,633
Other invested assets 6.1 1,761,678 1,764,678
Short-term investments 6.1 958,669 838,987
Cash and cash equivalents 6.1 835,706 848,667
Total investments and cash under own management 40,057,478 41,793,495
Funds withheld 6.2 10,735,012 11,673,259
Contract deposits 6.3 167,854 170,505
Total investments 50,960,344 53,637,259
Reinsurance recoverables on unpaid claims 6.7 1,651,335 1,506,292
Reinsurance recoverables on benefit reserve 6.7 959,533 1,189,420
Prepaid reinsurance premium 6.7 96,402 134,927
Reinsurance recoverables on other technical reserves 6.7 7,301 12,231
Deferred acquisition costs 6.4 2,228,246 2,264,034
Accounts receivable 6.4 3,821,124 3,678,030
Goodwill 6.5 91,692 64,609
Deferred tax assets 7.5 466,564 408,292
Other assets 6.6 904,253 674,389
Accrued interest and rent 10,052 9,978
Assets held for sale   – 15,086
Total assets 61,196,846 63,594,547
  • 1 Restated pursuant to IAS 8 (cf. section 3.1 of the notes)
      
Table as Excel file: 
Liabilities
in EUR thousand Notes 31.12.2017 31.12.2016 1
Loss and loss adjustment expense reserve 6.7 28,378,545 28,129,418
Benefit reserve 6.7 8,977,946 10,313,952
Unearned premium reserve 6.7 3,541,194 3,382,498
Other technical provisions 6.7 394,460 362,390
Funds withheld 6.8 974,786 1,234,073
Contract deposits 6.9 3,949,207 4,298,343
Reinsurance payable 980,241 1,216,036
Provisions for pensions 6.10 177,786 180,680
Taxes 7.5 319,845 409,023
Deferred tax liabilities 7.5 1,819,867 1,842,973
Other liabilities 6.11 654,338 680,396
Long-term debt and subordinated capital 6.12 1,742,073 1,804,218
Total liabilities 51,910,288 53,854,000
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 818,350 904,196
Cumulative foreign currency translation adjustment (62,548) 680,082
Changes from hedging instruments (6,292) (6,703)
Other changes in cumulative other comprehensive income (50,598) (53,778)
Total other comprehensive income 698,912 1,523,797
Retained earnings 6,984,407 6,628,274
Equity attributable to shareholders of Hannover Rück SE 8,528,478 8,997,230
Non-controlling interests 6.14 758,080 743,317
Total shareholders’ equity 9,286,558 9,740,547
Total liabilities 61,196,846 63,594,547
  • 1 Restated pursuant to IAS 8 (cf. section 3.1 of the notes)
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