Hannover Rueck SE (MIL:1HANN)

€ 252.6 0 (0%) Market Cap: 30.61 Bil Enterprise Value: 34.43 Bil PE Ratio: 13.73 PB Ratio: 2.77 GF Score: 51/100

Q1 2019 Hannover Rueck SE Earnings Call Transcript

May 07, 2019 / 08:30AM GMT

Transcript

Ulrich Wallin

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 quarter of 2019. As usual, I'm joined by our CFO, Roland Vogel.

Overall, the first quarter of 2019 marks a good start to the year. The increased demand for reinsurance as well as our good competitive position within our markets allowed us to grow our portfolios, both on the property/casualty as well as on the life and health side.

Even more important, we were also able to grow the bottom line, as the net income coming in at EUR 294 million, 7.4% higher than the first quarter of 2018, which already was quite a good quarter for us. This in fact marks the 42nd consecutive profitable quarterly result of Hannover Re, of which I had the privilege to report to you the last 40 as CEO of the company.

This is also the last quarter I will report to you. As tomorrow, after the finish of our AGM, Jean-Jacques Henchoz will take over as my successor.

Due to the strong earnings and significant increased valuation reserves, the book

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