Half Year 2020 Hannover Rueck SE Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kamran Hossain - RBC Capital Markets, Research Division - Analyst : A couple of questions on life and health re. You mentioned that you probably haven't baked in as much IBNR on the life side as you have on the P&C side. In terms of the EUR 63 million number that you've set aside, can you maybe give us a little bit of help on what that, like, kind of baked in? Is that kind of death as of now? Or is that kind of more excess mortality in certain specific regions going forward? And then how to think about the potential drag on results going forward. Should it be multiples less than EUR 63 million later in the year? Or kind of just any ideas how to think about that drag? And then the second part of the question is on longevity benefits. You've outlined that you could see some benefits there. And I imagine it would likely be the case. In the past, you've been fairly reluctant to recognize some of these tables have moved, but you wanted to actually see real kind of, I guess, people passing away before you recognize it. Are you starting to bake that in? Or is that just something that's another thing in your arsenal to, I guess, add in for buffers and kind of get earnings up in future years?

Question: Kamran Hossain - RBC Capital Markets, Research Division - Analyst : Can I just clarify, so you said H2 is likely to be more in terms of claims than in H1. So if I was going to say EUR 63 million, it's probably going to be a bigger number for that in H2?