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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Q3 2020 Hannover Rueck SE Earnings Call Transcript

Nov 04, 2020 / 09:30AM GMT
Release Date Price: €133.3 (+1.79%)
Jean;Jacques Henchoz
Hannover Rück SE - CEO & Chairman of the Executive Board

Thank you very much, and good morning, everyone. Let me welcome you to this conference call, presenting our results for the first 9 months of the year. As usual, I'll start with an overview before our new group CFO, Clemens Jungsthofel, goes through the financials in detail. And I will then comment on the outlook for the year later on.

For the Q&A, I'm additionally joined by my Board colleagues, Klaus Miller, on the life side; and Sven Althoff for P&C.

Looking at the results for the first 9 months. The Hannover Re Group has again proven its resilience, bearing in mind that we have absorbed a total pretax impact of around EUR 860 million from COVID-19 in our P&C and life and health business segment, the group net income of EUR 668 million and the return on equity of 8.3% are quite satisfactory.

Additionally, the Solvency II ratio of 222% remains comfortably above our 200% threshold. And with double-digit premium growth, our new business production is fully intact in

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