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Düsseldorf, 23 August 2021 – The rating agency Standard & Poor’s has confirmed its rating for the Deutsche Rückversicherung Group at “A+” with a stable outlook. The rating encompasses both Deutsche Rückversicherung AG in Düsseldorf and Deutsche Rückversicherung Switzerland Ltd (DR Swiss) in Zurich. In its rating decision, Standard & Poor’s took into account, among other things, the effects of flood event “Bernd”. Deutsche Rück expects a net loss of 40 to 50 million euros from the event.
Thanks to Deutsche Rück’s solid capital adequacy, effective reinsurance protection and large equalisation provisions, the rating agency does not anticipate any material negative impact on the Group’s capital and earnings in 2021.
At the same time, Standard & Poor’s once again highlights Deutsche Rück’s strategy of expanding its international business – most recently in the Gulf region and Latin America – as a driver of growth and diversification of the portfolio.