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Düsseldorf, 28 November 2019 – The rating agency Standard & Poor's has confirmed its “A+” rating with a “stable” outlook for the Deutsche Rückversicherung Group. The rating encompasses both Deutsche Rückversicherung AG in Düsseldorf and Deutsche Rückversicherung Switzerland Ltd (DR Swiss) in Zurich.
Standard & Poor’s reports that Deutsche Rück has a sustainable and very strong capital base coupled with a secure earnings position and supported by risk-adequate underwriting and a conservative strategy for the recognition of reserves. The rating agency also emphasises the significant role that the company plays in the German reinsurance market, but also the gradual expansion of its international business. With this in mind, it has confirmed its “A+” rating and the company’s ongoing positive business performance with a stable outlook.
“We have further strengthened our competitive standing within our core business and are in the process of improving our risk diversification, also by entering selected markets in North Africa”, said Frank Schaar, CEO of the Deutsche Rück Group. “The ‘A+’ rating confirms this solid and sustainable development. It forms the basis for our reliability in long-term risk partnerships, which our clients value very highly.”
Frank Schaar, CEO