Hannover Re 2010 results
Hannover Rückversicherung AG consolidated results year ended 31 December ● €m Category 2006 2007 2008 2009 2010 Gross written premium 9,289.3 8,258.9 8,120.9 10,274.8 11,428.7 Net written premium 7,090.0 7,222.0 7,234.3 9,515.7 10,301.3 NWP US$m 9,348.6 10,544.5 10,071.4 13,642.6 13,806.8 Increased NWP % (3.9) 1.9 0.2 31.5 8.3 Retention % 76.3 87.4 89.1 92.6 90.1 Net earned premium 7,092.1 7,292.9 7,061.6 9,307.2 10,047.0 Claims incurred 5,165.8 5,429.0 5,123.5 7,110.8 7,660.8 Claims incurred % NEP 72.8 74.4 72.6 76.4 76.2 Operating expenses 2,142.4 1,975.9 1,863.7 2,272.4 2,544.0 Operating expenses % NWP 30.2 27.4 25.8 23.9 24.7 Underwriting result (246.9) (131.0) 69.6 (100.4) (185.1) Underwriting result % NWP (3.5) (1.8) 1.0 (1.1) (1.8) Combined ratio % 100.8 99.7 95.4 96.6 98.2 Life GWP - - - - - Life NWP - - - - - Life result - - - - - Net investment income 963.6 1,038.2 992.2 1,029.2 1,133.3 Net realised gains/(losses) 217.4 174.3 (113.6) 113.0 162.0 Pre-tax result 742.2 850.4 70.6 1,065.8 1,088.5 Pre-tax % NWP 10.5 11.8 1.0 11.2 10.6 Net result 514.4 721.7 (127.0) 733.7 748.9 Shareholders' funds 2,897.8 3,349.1 2,830.1 3,714.5 4,509.0 Solvency margin % 40.9 46.4 39.1 39.0 43.8 Unearned premium reserve 1,241.9 1,094.1 1,304.1 1,465.2 1,827.2 Outstanding claims reserve 20,209.5 19,970.7 20,606.8 23,525.1 25,632.2 Total technical provisions 21,644.3 21,242.9 22,058.0 25,138.7 27,642.1 Technical reserves as % NWP 305.3 294.1 304.9 264.2 268.3 Overall coverage as % NWP 346.2 340.5 344.0 303.2 312.1