Hannover Rück SE
ISIN: DE0008402215
WKN: 840221
08 November 2024 10:43AM

EQS-News: Change of leadership at Hannover Re: Chief Executive Officer Jean-Jacques Henchoz hands over to Clemens Jungsthöfel on 1 April 2025

Hannover Rück SE · ISIN: DE0008402215 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2025689

EQS-News: Hannover Rück SE / Key word(s): Personnel
Change of leadership at Hannover Re: Chief Executive Officer Jean-Jacques Henchoz hands over to Clemens Jungsthöfel on 1 April 2025

08.11.2024 / 10:43 CET/CEST
The issuer is solely responsible for the content of this announcement.


Change of leadership at Hannover Re: Chief Executive Officer Jean-Jacques Henchoz hands over to Clemens Jungsthöfel on 1 April 2025

  • Jean-Jacques Henchoz will not extend his expiring contract at his own request and will leave the Executive Board on 31 March 2025
  • Chief Financial Officer Clemens Jungsthöfel to take over as Chief Executive Officer of Hannover Re from 1 April 2025
  • Christian Hermelingmeier, Chief Financial Officer of HDI Global SE, succeeds as Chief Financial Officer of Hannover Re

Hannover, 8 November 2024: Hannover Re Chief Executive Officer Jean-Jacques Henchoz (60) is not extending his expiring contract at his own request. He will leave the Executive Board of Hannover Re on 31 March 2025, but will remain closely associated with the company. His successor as of 1 April 2025 will be Chief Financial Officer Clemens Jungsthöfel (54). Christian Hermelingmeier (43), currently Chief Financial Officer of HDI Global SE, will succeed him as Chief Financial Officer of Hannover Re on the same date.

"My time leading Hannover Re has been very fulfilling, both professionally and personally," said Jean-Jacques Henchoz. "Together with a great team, we have succeeded in further developing Hannover Re and increasing its profitability. I would like to thank everyone who contributed to this success for their great commitment. My thanks also go to the Supervisory Board for their trusting cooperation. The aim of my next professional chapter is to contribute with my experience in non-executive and advisory roles. Until the end of March, I will continue to dedicate myself fully to my duties as Chief Executive Officer of Hannover Re and ensure an orderly handover to Clemens Jungsthöfel, whom I see as the perfect choice for my succession. I wish Clemens all the best for his new role."

"We very much regret Jean-Jacques Henchoz' decision," said Torsten Leue, Chairman of the Supervisory Board of Hannover Re. "He has made important transformational changes and strategic decisions with extraordinary commitment and great foresight that have strengthened the company’s long-term position. Under his leadership Hannover Re has further expanded its market position and its cost leadership. I would like to thank him, also on behalf of the Supervisory Board, and wish him all the best and every success in the next chapter of his career."

Jean-Jacques Henchoz has led Hannover Re very successfully since 2019 through a partially turbulent market environment. During this time, Hannover Re's market capitalisation has almost doubled to about EUR 29 billion thanks to strong, profitable growth. Over the past six years, the return on equity has averaged 14.7%.

"I am delighted that Clemens Jungsthöfel, a strong leader from our own ranks, has been selected,” said Torsten Leue. "He enjoys an excellent reputation among our customers and business partners, in the capital market and among our employees thanks to his strong proximity to the business and his outstanding industry expertise. I wish him every success in his new role. This also applies to Christian Hermelingmeier. He has impressively demonstrated his expertise and leadership quality on the Executive Board of HDI Global."

Clemens Jungsthöfel has proven his exceptional expertise in recent years as Chief Financial Officer of Hannover Re and the corporate and specialty insurer HDI Global as well as a partner at auditing and consulting firm KPMG, where he exclusively advised primary insurance and reinsurance companies. In a challenging market environment, he made a significant contribution to the strategic direction of Hannover Re, its strong financials and earnings as well as its resilience. He is an auditor, tax consultant and qualified insurance agent.

His successor, Christian Hermelingmeier, has been Chief Financial Officer at corporate & specialty insurer HDI Global since September 2020. He is also Chairman of the Board of Directors of HDI Reinsurance Ireland SE. Christian Hermelingmeier made a significant contribution to the profitable growth of HDI Global and its strategic international orientation. During his time as Chief Financial Officer, the international share of the corporate and specialty insurer's business rose from 50% to 75% of premiums. At the same time, the Group result increased significantly. Christian Hermelingmeier was previously Head of Controlling for Talanx Group's Private and Corporate Insurance Germany division. He holds a doctorate in business mathematics and is also a trained actuary.
 

Hannover Re is one of the world’s leading reinsurers. It transacts all lines of property and casualty and life and health reinsurance and is present worldwide with more than 3,500 staff. German business of the Hannover Re Group is written by the subsidiary E+S Rück. Established in 1966, Hannover Re is recognised as a reliable partner for innovative risk solutions, exceptional customer intimacy and financial soundness. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".

Please note the disclaimer: https://www.hannover-re.com/535917

Contact

External Communications:
Oliver Suess
Tel. +49 511 5604-1502
oliver.suess@hannover-re.com

Jessica Locker
Tel. +49 511 5604-1599
jessica.locker@hannover-re.com

Investor Relations:
Karl Steinle
Tel. +49 511 5604-1500
karl.steinle@hannover-re.com

Rebekka Brust
Tel. +49 511 5604-1530
rebekka.brust@hannover-re.com

www.hannover-re.com



08.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Hannover Rück SE
Karl-Wiechert-Allee 50
30625 Hannover
Germany
Phone: +49(0)51156041500
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 2025689

 
End of News EQS News Service

2025689  08.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 19.176,36 22.597,64 24.770,34 27.762,31 33.275,53 24.456,50 0,00
EBITDA1,2 1.691,71 1.933,83 1.379,18 1.885,49 2.281,58 2.127,00 0,00
EBITDA-Margin3 8,82 8,56 5,57 6,79 6,86 8,70 0,00
EBIT1,4 1.596,65 1.853,18 1.214,08 1.734,83 2.087,45 1.971,20 0,00
EBIT-Margin5 8,33 8,20 4,90 6,25 6,27 8,06 0,00
Net Profit (Loss)1 1.145,53 1.373,37 883,07 1.300,22 1.542,74 1.827,60 2.300,00
Net-Margin6 5,97 6,08 3,57 4,68 4,64 7,47 0,00
Cashflow1,7 2.224,57 2.509,21 3.231,03 4.940,46 5.164,36 5.785,50 0,00
Earnings per share8 8,70 10,65 7,32 10,21 11,66 15,13 18,90
Dividend per share8 5,25 5,50 4,50 5,75 6,00 7,20 6,90
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Hannover Rück
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
840221 DE0008402215 SE 29.473,94 Mio € 30.11.1994 Kaufen 9F4F9RR3+VG
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
12,34 14,19 0,87 22,49 3,18 5,09 1,21
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
6,00 7,20 6,90 2,82%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
07.05.2025 13.05.2025 12.08.2025 11.11.2024 13.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-0,97%
244,40 €
ATH 265,60 €
-1,65% +1,46% +12,99% +12,57% +1.812,36%

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