Rents and leases

Leases under which Group companies are the lessee

Outstanding commitments from non-cancellable contractual relationships existed in an amount of EUR 492 million as at the balance sheet date.

Future rental and leasing commitments

2011

2012

2013

2014

2015

Subsequent years

Figures in EUR million

           

Payments

51

43

41

39

37

281

Operating leasing contracts produced expenditures of EUR 51 (22) million in the year under review. Multi-year lease contracts existed above all with respect to subsidiaries of Hannover Re in Africa and the United States. Further commitments refer to multi-year lease contracts entered into by primary insurance companies in Germany.

Leases under which Group companies are the lessor

The total amount of rental income due under non-cancellable contracts in subsequent years is EUR 340 million.

Future rental income

2011

2012

2013

2014

2015

Subsequent years

Figures in EUR million

           

Payments to be received

62

57

58

58

55

50

Rental income in the year under review totaled EUR 65 million. It resulted principally from the renting out of properties by a US-based real estate company in the Non-Life Reinsurance segment as well as from the renting out of properties in Germany by primary insurance companies.