Hannover Re has announced a depreciation of assets

For the German reinsurer, the losses due to hurricanes Ike and Gustav amount respectively to 220. 9 million EUR (279.4 million USD) and 31. 6 million EUR (40 million USD). On the other hand, and in the wake of the financial crisis, Hannover Re has announced a depreciation of assets amounting to 200 million EUR (253 million USD). Hannover Re's combined ratio has risen from 98.4% during the first quarter of 2008 to 114.2% in the third quarter of the same year.