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Düsseldorf, 28 November 2016 – The rating agency Standard & Poor’s has confirmed its A+ rating for the Deutsche Rückversicherung Group. Standard & Poor’s points out positive developments in Deutsche Rück’s competitive position, and has raised its outlook from “negative” to “stable”.“
The confirmation of the A+ rating, together with the improvement in the outlook, is in line with our expectations,” says Dr Arno Junke, Chief Executive Officer of Deutsche Rückversicherung AG. “In the last two years we have strengthened our competitive position within our core business on a lasting basis. Standard & Poor’s has acknowledged this positive development accordingly.”
Standard & Poor’s had lowered its outlook last year. The rating agency believes its decision to raise the outlook within a year is justified, as it expects further positive developments in technical business. In particular, Standard & Poor’s anticipates an ongoing improvement in operating performance, not only in 2016 but also for the following year. The rating agency also believes that Deutsche Rück has an extremely strong capital base and secure earnings situation, supported by a conservative reserving policy.