SOURCE: Hannover Ruck

April 28, 2010 09:41 ET

Moderate loss for Hannover Re from the sunken drilling rig

HANNOVER--(Marketwire - April 28, 2010) -

Hannover Rück / Moderate loss for Hannover Re from the sunken drilling rig processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

Hannover, 28 April 2010: The drilling rig "Deepwater Horizon" that sank in the Gulf of Mexico will also result in a major loss for Hannover Re.

On the basis of a conservative evaluation of the current - still vague - information, the Group is expecting a net loss of approx. EUR 40 million. "Therewith, we remain considerably below our major loss expectancy for the second quarter", confirmed CEO Ulrich Wallin.

For further information please contact:

Press and Public Relations / Investor Relations:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: karl.steinle@hannover-re.com)

Press and Public Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: gabriele.handrick@hannover-re.com)

Investor Relations:
Klaus Paesler (tel. +49 511 5604-1736,
e-mail: klaus.paesler@hannover-re.com)

Please visit: www.hannover-re.com

Hannover Re, with a gross premium of around EUR 10 billion, is one of the leading reinsurance groups 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 2,000. 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.

[HUG#1409388]

--- End of Message ---

Hannover Rück

Karl-Wiechert-Allee 50 Hannover Germany

Contact Information