Risk Management
Annual Report 2011
An overview
Operating result (EBIT)
Figures in EUR million
1,142.5
1,177.9
928.0
841.4
819.9
732.1
1,200
800
600
538.8
470.9
1,000
400
148.1
91.6
200
0
20021
20031
20041
2005
2006
2007
2008
2009
20102
Group net income (loss)
2011
Figures in EUR million
733.7
721.7
800
748.9
606.0
514.4
354.8
267.2
700
600
500
400
279.9
300
200
49.3
20021
20031
20041
2005
100
(127.0)
2006
2009
2007
2010
2011
0
2008
Policyholders’ surplus
Figures in EUR million
6,987.0
2,958.5
3,680.4
4,172.2
4,579.6
4,878.4
5,295.1
7,338.2
8,000
7,000
5,621.6
6,000
4,708.4
5,000
4,000
3,000
2,000
1,000
20021
20031
20041
2005
2006
2007
2008
2009
2010
Book value per share
20021
1
2
0
Figures in EUR
37.39
17.90
2011
19.94
20.93
21.57
20031
20041
2005
Based on US GAAP
Adjusted on the basis of IAS 1
24.03
2006
41.22
30.80
27.77
23.47
2007
2008
2009
2010
2011
45
40
35
30
25
20
15
10
5
0
The Hannover Re Group
America
Europe
Asia
Africa
Hannover Rückversicherung AG
Canadian Branch –
Chief Agency
Toronto, Canada
Hannover Rückversicherung AG
Hannover, Germany
Hannover ReTakaful B.S.C. (c)
Manama, Bahrain
100.0%
Hannover Life
Reassurance Africa Limited
Johannesburg, South Africa
100.0%
Hannover Rückversicherung AG
Canadian Branch –
Facultative Office
Toronto, Canada
Hannover Re
Services USA, Inc.
Itasca/Chicago, USA
100.0%
Hannover Life Reassurance
Company of America
Orlando/Charlotte/
Denver/New York, USA
100.0%
Hannover Life Reassurance
Bermuda Ltd.
Hamilton, Bermuda
100.0%
Hannover Re (Bermuda) Ltd.
Hamilton, Bermuda
100.0%
Hannover Services
(México) S.A. de C.V.
Mexico City, Mexico
100.0%
Hannover Rückversicherung AG
Bogotá Representative Office
Bogotá, Colombia
Hannover Rückversicherung AG
Escritório de Representação no Brasil Ltda.
Rio de Janeiro, Brazil
100.0%
%-figures = participation
E+S Rückversicherung AG
Hannover, Germany
63.7%
Hannover Life Reassurance
(Ireland)
An overview
Operating result (EBIT)
Figures in EUR million
1,142.5
1,177.9
928.0
841.4
819.9
732.1
1,200
800
600
538.8
470.9
1,000
400
148.1
91.6
200
0
20021
20031
20041
2005
2006
2007
2008
2009
20102
Group net income (loss)
2011
Figures in EUR million
733.7
721.7
800
748.9
606.0
514.4
354.8
267.2
700
600
500
400
279.9
300
200
49.3
20021
20031
20041
2005
100
(127.0)
2006
2009
2007
2010
2011
0
2008
Policyholders’ surplus
Figures in EUR million
6,987.0
2,958.5
3,680.4
4,172.2
4,579.6
4,878.4
5,295.1
7,338.2
8,000
7,000
5,621.6
6,000
4,708.4
5,000
4,000
3,000
2,000
1,000
20021
20031
20041
2005
2006
2007
2008
2009
2010
Book value per share
20021
1
2
0
Figures in EUR
37.39
17.90
2011
19.94
20.93
21.57
20031
20041
2005
Based on US GAAP
Adjusted on the basis of IAS 1
24.03
2006
41.22
30.80
27.77
23.47
2007
2008
2009
2010
2011
45
40
35
30
25
20
15
10
5
0
The Hannover Re Group
America
Europe
Asia
Africa
Hannover Rückversicherung AG
Canadian Branch –
Chief Agency
Toronto, Canada
Hannover Rückversicherung AG
Hannover, Germany
Hannover ReTakaful B.S.C. (c)
Manama, Bahrain
100.0%
Hannover Life
Reassurance Africa Limited
Johannesburg, South Africa
100.0%
Hannover Rückversicherung AG
Canadian Branch –
Facultative Office
Toronto, Canada
Hannover Re
Services USA, Inc.
Itasca/Chicago, USA
100.0%
Hannover Life Reassurance
Company of America
Orlando/Charlotte/
Denver/New York, USA
100.0%
Hannover Life Reassurance
Bermuda Ltd.
Hamilton, Bermuda
100.0%
Hannover Re (Bermuda) Ltd.
Hamilton, Bermuda
100.0%
Hannover Services
(México) S.A. de C.V.
Mexico City, Mexico
100.0%
Hannover Rückversicherung AG
Bogotá Representative Office
Bogotá, Colombia
Hannover Rückversicherung AG
Escritório de Representação no Brasil Ltda.
Rio de Janeiro, Brazil
100.0%
%-figures = participation
E+S Rückversicherung AG
Hannover, Germany
63.7%
Hannover Life Reassurance
(Ireland)