Hannover Rück SE (HNR1) - Net Assets
Based on the latest financial reports, Hannover Rück SE (HNR1) has net assets worth €13.93 Billion EUR (≈ $16.29 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€71.33 Billion ≈ $83.39 Billion USD) and total liabilities (€57.40 Billion ≈ $67.10 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check strategic asset allocation of Hannover Rück SE to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €13.93 Billion |
| % of Total Assets | 19.53% |
| Annual Growth Rate | 6.48% |
| 5-Year Change | 9.2% |
| 10-Year Change | 43.01% |
| Growth Volatility | 14.66 |
Hannover Rück SE - Net Assets Trend (2013–2025)
This chart illustrates how Hannover Rück SE's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see HNR1 stock market capitalisation.
Annual Net Assets for Hannover Rück SE (2013–2025)
The table below shows the annual net assets of Hannover Rück SE from 2013 to 2025. Also explore HNR1 net assets growth trend to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €13.93 Billion ≈ $16.29 Billion |
+9.79% |
| 2024-12-31 | €12.69 Billion ≈ $14.83 Billion |
+15.14% |
| 2023-12-31 | €11.02 Billion ≈ $12.88 Billion |
+25.97% |
| 2022-12-31 | €8.75 Billion ≈ $10.23 Billion |
-31.42% |
| 2021-12-31 | €12.76 Billion ≈ $14.91 Billion |
+7.74% |
| 2020-12-31 | €11.84 Billion ≈ $13.84 Billion |
+4.27% |
| 2019-12-31 | €11.35 Billion ≈ $13.27 Billion |
+18.99% |
| 2018-12-31 | €9.54 Billion ≈ $11.16 Billion |
+2.75% |
| 2017-12-31 | €9.29 Billion ≈ $10.86 Billion |
-4.66% |
| 2016-12-31 | €9.74 Billion ≈ $11.39 Billion |
+10.97% |
| 2015-12-31 | €8.78 Billion ≈ $10.26 Billion |
+6.36% |
| 2014-12-31 | €8.25 Billion ≈ $9.65 Billion |
+25.79% |
| 2013-12-31 | €6.56 Billion ≈ $7.67 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Hannover Rück SE's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 165.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €12.70 Billion | 98.23% |
| Other Components | €228.30 Million | 1.77% |
| Total Equity | €12.93 Billion | 100.00% |
Hannover Rück SE Competitors by Market Cap
The table below lists competitors of Hannover Rück SE ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nestle India Limited
NSE:NESTLEIND
|
$28.85 Billion |
|
MongoDB
NASDAQ:MDB
|
$28.98 Billion |
|
Nokia Oyj
HE:NOKIA
|
$28.99 Billion |
|
Vodafone Group Plc
F:VODJ
|
$29.01 Billion |
|
Ameren Corp
NYSE:AEE
|
$28.78 Billion |
|
Victory Giant Technology Huizhou Co Ltd
SHE:300476
|
$28.73 Billion |
|
Medline Inc. Class A Common Stock
NASDAQ:MDLN
|
$28.59 Billion |
|
Sandoz Group AG
SW:SDZ
|
$28.58 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hannover Rück SE's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,794,500,000 to 12,928,700,000, a change of 1,134,200,000 (9.6%).
- Net income of 2,641,500,000 contributed positively to equity growth.
- Dividend payments of 1,121,500,000 reduced retained earnings.
- Other factors decreased equity by 385,800,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €2.64 Billion | +20.43% |
| Dividends Paid | €1.12 Billion | -8.67% |
| Other Changes | €-385.80 Million | -2.98% |
| Total Change | €- | 9.62% |
Book Value vs Market Value Analysis
This analysis compares Hannover Rück SE's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.37x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.59x to 2.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €70.72 | €253.80 | x |
| 2018-12-31 | €72.78 | €253.80 | x |
| 2019-12-31 | €87.30 | €253.80 | x |
| 2020-12-31 | €91.17 | €253.80 | x |
| 2021-12-31 | €98.55 | €253.80 | x |
| 2022-12-31 | €67.09 | €253.80 | x |
| 2023-12-31 | €83.97 | €253.80 | x |
| 2024-12-31 | €97.80 | €253.80 | x |
| 2025-12-31 | €107.21 | €253.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hannover Rück SE utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 20.43%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.00%
- • Asset Turnover: 0.34x
- • Equity Multiplier: 5.52x
- Recent ROE (20.43%) is above the historical average (14.23%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 15.21% | 6.51% | 0.26x | 9.16x | €306.62 Million |
| 2014 | 13.05% | 7.04% | 0.23x | 8.01x | €230.57 Million |
| 2015 | 14.26% | 7.05% | 0.26x | 7.83x | €343.89 Million |
| 2016 | 13.02% | 7.21% | 0.26x | 7.06x | €271.51 Million |
| 2017 | 11.24% | 5.40% | 0.29x | 7.18x | €105.71 Million |
| 2018 | 12.07% | 5.51% | 0.30x | 7.35x | €181.81 Million |
| 2019 | 12.20% | 5.83% | 0.31x | 6.78x | €231.37 Million |
| 2020 | 8.03% | 3.73% | 0.33x | 6.50x | €-216.43 Million |
| 2021 | 10.36% | 4.63% | 0.32x | 6.98x | €42.83 Million |
| 2022 | 17.39% | 4.45% | 0.36x | 10.75x | €597.64 Million |
| 2023 | 18.02% | 8.30% | 0.33x | 6.48x | €812.12 Million |
| 2024 | 19.74% | 9.74% | 0.33x | 6.12x | €1.15 Billion |
| 2025 | 20.43% | 11.00% | 0.34x | 5.52x | €1.35 Billion |
Industry Comparison
This section compares Hannover Rück SE's net assets metrics with peer companies in the Insurance - Reinsurance industry.
Industry Context
- Industry: Insurance - Reinsurance
- Average net assets among peers: $19,686,819,667
- Average return on equity (ROE) among peers: -40.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hannover Rück SE (HNR1) | €13.93 Billion | 15.21% | 4.12x | $28.80 Billion |
| SIRIUSPOINT LTD. DL-10 (3XPA) | $2.53 Billion | 14.02% | 4.09x | $2.32 Billion |
| Maiden Holdings Ltd (4OWA) | $45.19 Million | -444.69% | 28.12x | $99.64 Million |
| China Reinsurance (Group) Corporation (C53) | $102.90 Billion | 5.55% | 3.41x | $1.03 Billion |
| COMSTOCK HLDG-A (CHO) | $1.05 Billion | 11.95% | 0.81x | $738.28 Million |
| GREENLIGHT CAP.RE A DL-01 (G8L) | $475.66 Million | 3.70% | 2.00x | $496.32 Million |
| HANN.RUECKV.SE ADR 1/2/ON (HNRB) | $11.02 Billion | 16.56% | 4.96x | $30.91 Billion |
| Münchener Rück AG (MUV2) | $19.77 Billion | -2.20% | 9.57x | $70.09 Billion |
| MUENCH.RUECK.UNS.ADR 1/10 (MUVB) | $33.42 Billion | 18.31% | 7.38x | $70.34 Billion |
| RenaissanceRe Holdings Ltd (RRJ) | $5.97 Billion | 12.54% | 3.41x | $10.73 Billion |
About Hannover Rück SE
Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally. It operates through Property & Casualty Reinsurance; and Life & Health Reinsurance segments. The company provides property and casualty reinsurance solutions for agricultural, livestock, and bl… Read more