Hannover Rückversicherung AG announced that based on a detailed analysis of its non-life reinsurance portfolio, the company anticipates a net burden of losses in the amount of EUR 261 million from Hurricane Sandy. Loss-triggered treaty conditions generate further net premiums in the amount of EUR 23.5 million, hence reducing the strain to EUR 237.5 million. This loss expenditure leaves the company comfortably within the major loss budget for the financial year 2012.

The company's expectation of generating group net income in excess of EUR 800 million for 2012 remains unaffected by this loss.