Consolidated financial statements
Consolidated balance sheet as at 31 December 2012
| Assets | |||
|---|---|---|---|
| in EUR thousand | Notes | 31.12.2012 | 31.12.2011 |
| Fixed-income securities – held to maturity | 6.1 | 3,605,956 | 4,156,089 |
| Fixed-income securities – loans and receivables | 6.1 | 3,415,187 | 3,524,735 |
| Fixed-income securities – available for sale | 6.1 | 21,782,072 | 17,328,911 |
| Fixed-income securities – at fair value through profit or loss | 6.1 | 147,413 | 161,130 |
| Equity securities – available for sale | 6.1 | 29,246 | 40,387 |
| Other financial assets – at fair value through profit or loss | 6.1 | 60,835 | 21,026 |
| Real estate and real estate funds | 6.1 | 647,961 | 525,097 |
| Investments in associated companies | 6.1 | 133,017 | 127,554 |
| Other invested assets | 6.1 | 970,798 | 931,421 |
| Short-term investments | 6.1 | 509,718 | 1,017,886 |
| Cash | 6.1 | 572,188 | 506,963 |
| Total investments and cash under own management | 31,874,391 | 28,341,199 | |
| Funds withheld | 6.2 | 14,627,847 | 13,232,054 |
| Contract deposits | 6.3 | 123,258 | 109,719 |
| Total investments | 46,625,496 | 41,682,972 | |
| Reinsurance recoverables on unpaid claims | 6.7 | 1,538,215 | 1,550,587 |
| Reinsurance recoverables on benefit reserve | 6.7 | 507,257 | 380,714 |
| Prepaid reinsurance premium | 6.7 | 138,373 | 91,823 |
| Reinsurance recoverables on other technical reserves | 6.7 | 2,611 | 7,810 |
| Deferred acquisition costs | 6.4 | 1,841,279 | 1,926,570 |
| Accounts receivable | 6.4 | 3,065,664 | 3,139,327 |
| Goodwill | 6.5 | 59,099 | 59,289 |
| Deferred tax assets | 7.5 | 620,493 | 682,888 |
| Other assets | 6.6 | 402,655 | 336,650 |
| Accrued interest and rent | 4,238 | 5,931 | |
| Assets held for sale | 6.1 | 6,333 | 2,391 |
| Total assets | 54,811,713 | 49,866,952 | |
| Liabilities | |||
|---|---|---|---|
| in EUR thousand | Notes | 31.12.2012 | 31.12.2011 |
| Loss and loss adjustment expense reserve | 6.7 | 21,610,698 | 20,767,317 |
| Benefit reserves | 6.7 | 10,974,570 | 10,309,066 |
| Unearned premium reserve | 6.7 | 2,339,809 | 2,215,864 |
| Other technical provisions | 6.7 | 214,219 | 207,262 |
| Funds withheld | 6.8 | 821,060 | 644,587 |
| Contract deposits | 6.9 | 5,797,884 | 5,008,193 |
| Reinsurance payable | 1,121,409 | 733,348 | |
| Provisions for pensions | 6.10 | 86,464 | 88,299 |
| Taxes | 7.5 | 237,552 | 185,015 |
| Deferred tax liabilities | 7.5 | 1,972,373 | 1,723,265 |
| Other liabilities | 6.11 | 494,604 | 443,671 |
| Long-term debt and subordinated capital | 6.12 | 2,400,791 | 1,934,410 |
| Total liabilities | 48,071,433 | 44,260,297 | |
| Shareholders' equity | |||
| Common shares | 6.13 | 120,597 | 120,597 |
| Nominal value: 120,597 Conditional capital: 60,299 |
6.13 | ||
| Additional paid-in capital | 724,562 | 724,562 | |
| Common shares and additional paid-in capital | 845,159 | 845,159 | |
| Cumulative other comprehensive income | |||
| Unrealised gains and losses on investments | 987,918 | 453,115 | |
| Cumulative foreign currency translation adjustment | (16,216) | 11,559 | |
| Changes from hedging instruments | (9,455) | – | |
| Other changes in cumulative other comprehensive income | (27,211) | (18,553) | |
| Total other comprehensive income | 935,036 | 446,121 | |
| Retained earnings | 4,275,613 | 3,679,351 | |
| Equity attributable to shareholders of Hannover Re | 6,055,808 | 4,970,631 | |
| Non-controlling interests | 6.13 | 684,472 | 636,024 |
| Total shareholders’ equity | 6,740,280 | 5,606,655 | |
| Total liabilities | 54,811,713 | 49,866,952 | |