is manager of the Accounting Department
Phone: +49 211 4554-239
The Deutsche Rück Group achieved positive results and successfully continued its rock-solid performance in 2018. Although the market remained highly competi-tive, the Deutsche Rück Group’s net premiums earned rose by 3.3 % to €729 million. This increase was driven in particular by growth in the liability, accident and motor insurance lines. However, the Group’s gross premiums written fell by 7.8 % to €1,108 million, owing to the restructuring of a business segment within the group of German public insurers.
Clients of Deutsche Rück were particularly affected by storm DAVID (also known as FRIEDERIKE) and several major fire claims in 2018. However, our retrocession scheme, which is geared towards property business, enabled us to limit our risk positions effectively. Both the net loss ratio and the combined ratio increased only moderately.
The subsidiary DR Swiss recorded a drop in claims expenditure and thus an improvement of almost 10 percentage points in the loss ratio to 67.6 %, which led to encouraging growth in profits.
The Deutsche Rück Group once again strengthened its assets on a lasting basis. This was made possible by an improved technical result and exceptionally good investment income of €86.5 million after deduction of interest income on technical provisions, well above the previous year’s figure of €57.2 million.
The strength of the Group’s assets is reflected in its strong capital base at AAA level. The rating agency Standard & Poor’s once again confirmed its rating of “A+” with a stable outlook for Deutsche Rück in 2018, praising the Group’s sustainable and very strong capital base, secure earnings situation and conservative policy on the recognition of reserves.