Hannover Rueck SE (HAM:HNR1)
€ 240.9 1.8 (0.75%) Market Cap: 28.77 Bil Enterprise Value: 32.60 Bil PE Ratio: 14.26 PB Ratio: 2.71 GF Score: 57/100

Q3 2019 Hannover Rueck SE Earnings Call Transcript

Nov 06, 2019 / 09:30AM GMT
Release Date Price: €59.14
Operator

Good morning, ladies and gentlemen. I welcome you to today's Hannover Re international conference call on the Q3 2019 results. For your information, this conference is being recorded.

At this time, I would like to hand the call over to your host today, Mr. Jean-Jacques Henchoz, Chief Executive Officer. Please, go ahead, sir.

Jean;Jacques Henchoz
Hannover Rück SE - CEO & Chairman of the Executive Board

Good morning, ladies and gentlemen. Let me also welcome you to our conference call presenting our results for the first 9 months of this year. As usual, I'll start with a short summary before our CFO, Roland Vogel, will go over the financials in detail. For the Q&A, I'm additionally joined by my Board colleagues, Klaus Miller and Sven Althoff.

In the first 9 months of 2019, group net income increased by 38% to EUR 1 billion. This is particularly pleasing because it outperforms the top line growth and the increase of the shareholders' equity and, hence, contributes to the ROE.

On the basis of the favorable

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