Key Developments: Hannover Rueck SE (HVRRY.PK)
37.53USD
22 May 2013
$-0.71 (-1.86%)
$38.24
$37.63
$37.75
$37.47
2,300
2,113
$42.22
$25.80
Latest Key Developments (Source: Significant Developments)
Hannover Rueckversicherung AG Comments on FY 2013 Net Income Guidance; to Distribute FY 2012 Dividend
Hannover Rueckversicherung AG (Hannover Re) announced that it anticipates Group net income for the fiscal year 2013 in the order of EUR 800 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 net income of EUR 822.86 million. As for the dividend, Hannover Re continues to aim for a payout ratio in the range of 35% to 40% of its IFRS Group net income after tax for the fiscal year 2012. Full Article
Assicurazioni Generali SpA Picks Two Bidders Including Scor SE For US Life Unit; Munich Re Group AG, Hannover Rueckversicherung AG And Others Also Interested To Buy Generali US-Reuters
Reuters reported that Assicurazioni Generali SpA has moved closer to selling its U.S. life reinsurance unit as it shortlisted two among a large number of bidders. The selected bidders are Scor SE and a U.S. rival. Financial Italian daily Sole 24 Ore earlier reported that Scor and a U.S. player were in pole position to acquire Generali US. Munich Re Group AG, Zurich Insurance, Swiss Re AG, Hannover Rueckversicherung AG, Reinsurance Group Of America Inc and a bunch of Bermuda-incorporated reinsurers such as Everest Re were also interested to buy Generali US. Generali's new Chief executive Mario Greco aims to raise EUR4 billion from non-core asset sales to shore up capital and restore value after long-standing CEO Giovanni Perissinotti was ousted by disappointed investors led by Mediobanca. The insurer is hoping to secure $800 million to $1 billion for Generali US and about EUR2 billion ($2.60 billion) for its private bank BSI, which it is also selling. Full Article
Hannover Rueckversicherung AG Issues FY 2013 Net Income Guidance In Line with Analysts' Estimates
Hannover Rueckversicherung AG announced that it anticipates net income in the order of EUR 800 million for the fiscal year 2013. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 net income of EUR 789.27 million. Full Article
Hannover Rueckversicherung AG Reaffirms FY 2012 Net Income Guidance-Conference Call
Hannover Rueckversicherung AG announced that for fiscal 2012, it expects net income to be in the order of EUR 800 million. Full Article
Hannover Rueckversicherung AG Issues Subordinated Bond
Hannover Rueckversicherung AG announced that it has placed a new EUR 500 million subordinated bond in the European debt capital markets via its subsidiary Hannover Finance (Luxembourg) S. A. The issue - which was oversubscribed several times - was placed principally with institutional investors in Europe. The bond has a maturity of approximately 30 years, with a first scheduled call option on June 30, 2023. It carries a fixed coupon of 5.00% per annum until this date, after which the interest basis changes to a floating rate of 3-month EURIBOR plus 430 basis points. Full Article
Hannover Rueckversicherung AG Issues FY 2012 and FY 2013 Net Income Guidance Above Analysts' Estimates
Hannover Rueckversicherung AG announced it expects that the fiscal year 2012 net income in excess of EUR 800 million is realistic. Moreover, the Company announced that it is looking to generate net income in the order of EUR 800 million for the fiscal year 2013. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2012 net income of EUR 770.49 million and fiscal year 2013 net income of EUR 758.38 million. Full Article
Low damage claims, rising premiums help insurers
FRANKFURT - Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates.
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