Hannover Re: Annual General Meeting Adopts All Proposed Resolutions

The Ordinary General Meeting of Hannover Re today approved all proposed resolutions by a large majority.

In his address to the meeting Chief Executive Officer Ulrich Wallin took the opportunity to look back once again on the record year of 2010, in which the company posted net income after tax of EUR 748.9 million - in part thanks to positive non-recurring effects - and thus surpassed the level of the previous year (EUR 733.7 million).

The Ordinary General Meeting approved the proposal of the Executive Board and Supervisory Board regarding the appropriation of the disposable profit of the parent company Hannover Re in an amount of EUR 277 million: shareholders will receive a gross dividend of EUR 2.30 on each share fully paid up for the entire financial year - an increase of EUR 0.20 relative to the previous year. The remaining disposable profit of EUR 24.6 million is to be carried forward to new account.

In addition, the Ordinary General Meeting approved the new remuneration system for the members of Hannover Re's Supervisory Board. Geared to the sustainable development of the company, it is in conformity with current legal requirements.

The Ordinary General Meeting also elected Andrea Pollak as successor of Karl Heinz Midunsky as a new member of the Supervisory Board of the company.

The next Ordinary General Meeting is scheduled for 3 May 2012.

Hannover Re, with a gross premium of around EUR 11 billion, is the third-largest reinsurer in the world. It transacts all lines of non-life and life and health reinsurance. It maintains business relations with more than 5,000 insurance companies in about 150 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices on all five continents with a total staff of roughly 2,200. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings (Standard & Poor's AA- 'Very Strong' and A.M. Best A 'Excellent').

Disclaimer: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Hannover Re does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Hannover Re and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

End of Corporate News