Assets and financial position

Assets and financial position

Balance sheet structure of Hannover Rück SE
in EUR thousand20132012
Intangible assets73,43823,928
Other assets386,231229,067
Prepayments and accrued income200,150179,184
Total assets35,892,99133,080,353
Subscribed capital120,597120,597
Capital reserve880,608880,608
Retained earnings380,511380,511
Disposable profit456,000451,000
Capital and reserves1,837,7161,832,716
Subordinated liabilities1,800,0001,800,000
Technical provisions27,684,28425,276,558
Provisions for other risks and charges319,702335,905
Deposits received from retrocessionaires3,219,0182,882,346
Other liabilities1,032,271952,828
Total liabilities35,892,99133,080,353

Our portfolio of assets under own management grew in the year under review to EUR 20.8 billion (EUR 19.5 billion). This corresponds to an increase of 6.3% and can be attributed above all to the very positive operating cash flow, which offset the yield increases recorded especially on high-quality government bonds as well as the softening of key foreign currencies against the euro. The balance of unrealised gains on fixed-income securities and bond funds consequently decreased to EUR 414.7 million (EUR 798.3 million).

Deposits with ceding companies, which are shown under the investments, totalled EUR 12.4 billion (EUR 10.9 billion) in the year under review.

Our capital and reserves – excluding the disposable profit – stood at EUR 1,381.7 million (EUR 1,381.7 million). The total capital, reserves and technical provisions – comprised of the capital and reserves excluding disposable profit, the subordinated liabilities, the equalisation reserve and similar provisions as well as the net technical provisions – grew during the year under review to EUR 30,866.0 million (EUR 28,458.3 million). Based on the increase in the total capital, reserves and technical provisions, the balance sheet total of Hannover Rück SE grew to EUR 35.9 billion (EUR 33.1 billion).

A dividend of EUR 2.60 and a bonus of EUR 0.40 per share, equivalent to EUR 361.8 million (previous year: EUR 253.3 million), was paid in the year under review for the 2012 financial year.

It will be proposed to the Annual General Meeting on 7 May 2014 that a dividend of EUR 3.00 per share should be paid for the 2013 financial year. This corresponds to a total distribution of EUR 361.8 million. The dividend proposal does not form part of this consolidated financial statement.


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