Assets and financial position
Assets and financial position
| Balance sheet structure of Hannover Rück SE | ||
| in EUR thousand | 2013 | 2012 |
|---|---|---|
| Assets | ||
| Intangible assets | 73,438 | 23,928 |
| Investments | 33,203,262 | 30,452,002 |
| Receivables | 2,029,910 | 2,196,172 |
| Other assets | 386,231 | 229,067 |
| Prepayments and accrued income | 200,150 | 179,184 |
| Total assets | 35,892,991 | 33,080,353 |
| Liabilities | ||
| Subscribed capital | 120,597 | 120,597 |
| Capital reserve | 880,608 | 880,608 |
| Retained earnings | 380,511 | 380,511 |
| Disposable profit | 456,000 | 451,000 |
| Capital and reserves | 1,837,716 | 1,832,716 |
| Subordinated liabilities | 1,800,000 | 1,800,000 |
| Technical provisions | 27,684,284 | 25,276,558 |
| Provisions for other risks and charges | 319,702 | 335,905 |
| Deposits received from retrocessionaires | 3,219,018 | 2,882,346 |
| Other liabilities | 1,032,271 | 952,828 |
| Total liabilities | 35,892,991 | 33,080,353 |
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.