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Risk Management

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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)
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