Düsseldorf (ots) - 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 EUR2.1 billion. Net premiums earned increased by 17.5% to EUR1.4 billion. Growth came from both international markets and the German domestic market. Total security resources rose by EUR375.8 million to more than EUR3.1 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 EUR485.8 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 EUR1.4 billion.

In life business, the Deutsche Rück Group recorded a 9.7% increase in gross premiums to EUR84.2 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 EUR74.8 million and achieved a net profit after taxes of EUR14.5 million (previous year: EUR12.0 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.

Contact:
Jan Stepic
Spokesperson international media
Corporate Communications
Phone: +49 211 4554-334
Mobile: +49 1515 6238811
jan.stepic@deutscherueck.de
www.deutscherueck.de

Logo

Images

Tags

More Like This

Deutsche Rück Group continues to grow profitably

MS Reinsurance reports ‘strong’ 2024 with improved combined ratio and net profit of $346m

Allianz Increases Revenues by 4.5 % to 36.5 Billion Euros

MS Reinsurance reports ‘excellent’ year with improved combined ratio and net profit increasing to $415 million

Allianz Increases Operating Profit by 6.8% to 4.0 Billion Euros

Allianz Records 14 Percent Operating Profit Growth for Third Quarter 2024

Allianz Achieves Record Profits in First Half 2024

Allianz Delivers Record Operating Profit in Strong Start to 2026