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The rating agency Standard & Poor’s has confirmed its “A+” rating for the Deutsche Rückversicherung Group. The outlook remains “stable”. The rating encompasses both Deutsche Rückversicherung AG in Düsseldorf and Deutsche Rückversicherung Switzerland Ltd (DR Swiss) in Zurich. Standard & Poor’s adjusted its rating criteria as of 1 July 2019 and has now published corresponding research updates.
In its research update, Standard & Poor’s confirms that Deutsche Rück has a sustainable and strong capital base at AAA level, supported by a conservative strategy for recognition of reserves. At the same time, the rating agency highlights the important role that the company plays in the German reinsurance market. It also points out that Deutsche Rück is less exposed to natural catastrophe risks compared to many globally active reinsurers. Against this backdrop, Standard & Poor’s confirms the rating of “A+” with stable outlook.
“The confirmation of the ‘A+’ rating in the research update reflects our solid, sustainable development,” says Frank Schaar, Chief Executive Officer of the Deutsche Rück Group. “Stability and solidity are the cornerstones of our business philosophy. They form the basis for our reliability in long-term risk partnerships.”
Frank Schaar, CEO