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Hannover Re: Profit forecast unchanged despite ´Sandy´

DGAP-News: Hannover Rückversicherung AG / Key word(s): Miscellaneous
Hannover Re: Profit forecast unchanged despite ´Sandy´

14.01.2013 / 11:00

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Profit forecast unchanged despite ´Sandy´

Hannover, 14 January 2013: Based on a detailed analysis of its non-life
reinsurance portfolio, Hannover Re anticipates a net burden of losses in
the amount of EUR 261 million from Hurricane Sandy. Loss-triggered treaty
conditions generate further net premiums in the amount of EUR 23.5 million,
hence reducing the strain to EUR 237.5 million.

´This loss expenditure leaves us comfortably within our major loss budget
for the financial year just ended. Our expectation of generating Group net
income in excess of EUR 800 million for 2012 remains unaffected by this
loss´, Chief Executive Officer Ulrich Wallin emphasised.

Hannover Re will report in detail on the events of the 2012 financial year
at its press conference on the annual results to be held on 7 March 2013.

For further information please contact:

Corporate Communications:
Karl Steinle (tel. [phone],
e-mail: [e-mail])

Media Relations:
Gabriele Handrick (tel. [phone],
e-mail: [e-mail])

Investor Relations:
Julia Hartmann (tel. [phone],
e-mail: [e-mail])

Please visit: www.hannover-re.com

Hannover Re, with a gross premium of around EUR 12 billion, is the
third-largest reinsurer in the world. It transacts all lines of non-life
and life and health reinsurance and is present on all continents with
around 2,200 staff. The rating agencies most relevant to the insurance
industry have awarded Hannover Re very strong insurer financial strength
ratings (Standard & Poor´s AA- ´Very Strong´ and A.M. Best A+ ´Superior´).

Please note the disclaimer:
www.hannover-re.com/misc/disclaimer-pr-050811

End of Corporate News

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Language:    English                                                     
Company:     Hannover Rückversicherung AG                                
             Karl-Wiechert-Allee 50                                      
             30625 Hannover                                              
             Germany                                                     
Phone:       [phone]                                        
Fax:         [phone]                                        
E-mail:      [e-mail]                                        
Internet:    www.hannover-re.com                                         
ISIN:        DE0008402215                                                
WKN:         840 221                                                     
Indices:     MDAX                                                        
Listed:      Regulierter Markt in Frankfurt (Prime Standard), Hannover;  
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,         
             Stuttgart; Terminbörse EUREX                                

End of News    DGAP News-Service  

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198924 14.01.2013