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

Hannover Rueck SE Update On IFRS 17 Conference Call Transcript

Feb 01, 2023 / NTS GMT

Transcript

Clemens Jungsthofel

Hannover RÃ¼ck SE - CFO & Member of Executive Board

Thank you very much. Good morning, everyone. A warm welcome to our conference call with an update on IFRS 17 and with the full year guidance for the financial year 2023 for the first time based on the new accounting standards, IFRS 17 and IFRS 9. We thought it would also be useful to share some preliminary key figures for the financial year 2022 today and not as usual in our renewals call next week.

So I'll start with these numbers, which are still based on IFRS 4, of course, and then walk through the guidance by way of -- by commenting on both the underlying and the accounting implications around the key figures. And we will make sure we leave enough time for your questions later in the Q&A session.

Starting on Slide 4 with the 2022 financials. It is pleasing to see that the group net income of EUR 1.4 billion is within the initial target range, and pretty much in line with the refined guidance towards the lower end of the range, which we provided with our Q3 results. Gross written premium increased by 12.7%

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