The Deutsche Rück Group further expanded its business in the 2024 financial year while simultaneously strengthening its financial position. Gross premiums written grew in all business areas, rising significantly by 18.3% to around €2.1 billion. Net premiums earned increased by 17.5% to €1.4 billion. Growth came from both international markets and the German domestic market. Total security resources rose by €375.8 million to more than €3.1 billion.
The highest premium increases came from the liability, accident and motor insurance business and the other lines of insurance. In the liability, accident and motor insurance lines, the second-largest segment of Deutsche Rück's portfolio, gross premiums rose by 23.9% to €485.8 million. Gross premium income in property insurance, which accounts for more than two-thirds of Deutsche Rück Group's gross premiums, also grew strongly by 16.5% to €1.4 billion.
In life business, the Deutsche Rück Group recorded a 9.7% increase in gross premiums to €84.2 million. In the 2024 financial year, the Deutsche Rück Group expanded its life and health reinsurance business to the markets of the Middle East and North Africa.
“We grew strongly and profitably in all business areas in 2024,” says Frank Schaar, Chief Executive Officer of the Deutsche Rück Group. “Our strategy of gradually and purposefully internationalising our business over the recent years is paying off.”
The Group generated investment income of €74.8 million and achieved a net profit after taxes of €14.5 million (previous year: €12.0 million).
Deutsche Rückversicherung AG and its subsidiary Deutsche Rückversicherung Switzerland Ltd offer reinsurance cover on the European insurance market and selected international markets. Thanks to outstanding long-term credit ratings and consistent market performance, the Group companies are much sought-after and well-established in Germany as one of the leading reinsurers.
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Contact:
Jan Stepic
Spokesperson international media
Corporate Communications
Phone: +49 211 4554-334
Mobile: +49 1515 6238811
jan.stepic@deutscherueck.de
www.deutscherueck.de