BULLETIN: Hannover Re Group Ratings Unaffected By 2004 Results Mar 05

Standard & Poors, March 2005

Abstract
LONDON (Standard & Poor's) March 29, 2005--Standard & Poor's Ratings Services said today that the 2004 results announced by Germany-based global reinsurer Hannover Rueckversicherung-AG (AA-/Stable/--) and its core subsidiaries, collectively known as the Hannover Re group (Hannover Re), have no impact on the ratings or outlook on group entities. "While the group's reported ROE was below expectations, the shortfall is not considered material enough to impact the financial strength of the group," said Standard & Poor's credit analyst Simon Marshall. For the ninth year in ten (2001 being the exception) the group met its own ROE target of 750 basis points in excess of the 10-year government bond yield. Hannover Re today reported a posttax operating profit of -309 million...

Companies mentioned in this report are: Hannover Rueckversicherung AG,E+S Rueckversicherung AG,HDI Haftpflichtverband der Deutschen Industrie VaG,Hannover Reinsurance (Ireland) Ltd.,E+S Reinsurance (Ireland) Ltd.,Talanx AG,Hannover Re Bermuda Ltd.
Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Hannover Rueckversicherung AG,E+S Rueckversicherung AG,HDI Haftpflichtverband der Deutschen Industrie VaG,Hannover Reinsurance (Ireland) Ltd.,E+S Reinsurance (Ireland) Ltd.,Talanx AG,Hannover Re Bermuda Ltd.

Customers who bought this item also bought

• The European University Libraries Directory 2013
• Public Affairs Ireland Subscription Service
• The Irish Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Army Expenditure in Ireland to 2017: Market Brief
• Navy Expenditure in Ireland to 2017: Market Brief
• The European Foundations Directory 2013
• The Irish Defense Industry - Industry Dynamics to 2017: Market Profile
• The Irish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• Defense Expenditure in Ireland to 2017: Market Review
• The Irish Defense Industry - Market Entry Strategy to 2017: Market Profile