HANNOVER RüCK SE (FRA:HNR1) Hannover Re: Annual General Meeting adopts all proposed resolutions

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06/05/2020 15:10

DGAP-News: Hannover Rück SE / Key word(s): AGM/EGM
Hannover Re: Annual General Meeting adopts all proposed resolutions

06.05.2020 / 15:10
The issuer is solely responsible for the content of this announcement.

Corporate news

Hannover Re: Annual General Meeting adopts all proposed resolutions

  • First-ever entirely virtual Annual General Meeting
  • Dividend of EUR 5.50 per share approved
  • Capitalisation remains very comfortable

Hannover, 6 May 2020: The Annual General Meeting of Hannover Rück SE, which for the first time was held today as a virtual AGM without the physical presence of shareholders or their authorised proxies on account of the coronavirus pandemic, approved by a large majority all proposed resolutions put to the vote.

In his address Chief Executive Officer Jean-Jacques Henchoz took the opportunity to look back on the 2019 financial year, in which Hannover Re again demonstrated its earnings power with Group net income of EUR 1.28 billion (EUR 1.06 billion). Hannover Re withdrew its earnings guidance for 2020 in April because it is currently impossible to estimate the impacts of the coronavirus crisis on the claims development and investments.

The Annual General Meeting approved the proposal of the Executive Board and Supervisory Board to pay a dividend of EUR 5.50 per share for the 2019 financial year. It is composed of an ordinary dividend, which was increased again to EUR 4.00 (previous year: EUR 3.75) per share, and an unchanged special dividend of EUR 1.50 per share. Even after payment of the dividend, Hannover Re's solvency ratio remains comfortably above the threshold of 200% and limit of 180%.

The next Annual General Meeting is scheduled to be held on 5 May 2021 in Hannover.

Hannover Re, with gross premium of more than EUR 22 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with more than 3,000 staff. Established in 1966, the Hannover Re Group today has a network of more than 150 subsidiaries, branches and representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".

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Corporate Communications:
Karl Steinle
Tel. +49 511 5604-1500

Media Relations:
Oliver Süß
Tel. +49 511 5604-1502

Investor Relations:
Julia Hartmann
Tel. +49 511 5604-1529



06.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: Hannover Rück SE
Karl-Wiechert-Allee 50
30625 Hannover
Phone: +49-(0)511-5604-1500
Fax: +49-(0)511-5604-1648
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1037389

End of News DGAP News Service

1037389  06.05.2020