Hannover Rueck SE (LTS:0M9A)
€ 254.05 -1.1 (-0.43%) Market Cap: 30.61 Bil Enterprise Value: 34.43 Bil PE Ratio: 13.56 PB Ratio: 2.74 GF Score: 65/100
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Half Year 2020 Hannover Rueck SE Earnings Call Transcript

Aug 05, 2020 / 08:30AM GMT
Release Date Price: €142.35 (-1.11%)
Jean;Jacques Henchoz
Hannover Rück SE - CEO & Chairman of the Executive Board

Well, thank you very much, and good morning, ladies and gentlemen. I'd like to welcome you to our conference call presenting our results for the first half of this year. As usual, I will start with an overview before our CFO, Roland Vogel, goes over the financials in detail. I'll then comment on the outlook for the year. And for the Q&A, I'm additionally joined by my Board colleagues, Klaus Miller and Sven Althoff.

Despite the burgeon of the COVID-19 pandemic, Hannover Re can look back at the first 6 months that demonstrated again the risk-bearing capacity of our business model. And in light of the fact that we have absorbed, in total, a pretax impact of more than EUR 660 million from COVID-19 in our P&C and life and health segment, the group net income of EUR 402 million is quite satisfactory. The solvency ratio of around 225% at the end of the second quarter remained comfortably above our threshold of 200%, which is even more positive. Additionally, Hannover Re was able to grow gross

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