Deutsche Rück once again rated "A+, outlook stable"

The rating agency Standard & Poor’s has confirmed the "A+, outlook stable" rating of Deutschen Rückversicherung AG in Düsseldorf and its core Zurich-based subsidiary, DR Swiss. Standard & Poor’s stated that the rating was based on the company's excellent capital base and strong competitive position.

Dr Arno Junke, Chief Executive Officer of Deutsche Rück and Chairman of the Administrative Board of DR Swiss, commented on the rating as follows: "With this decision, the analysts and the Rating Committee have confirmed that we were on the right track when we opted to expand our business. We see this as an incentive to continue consolidating our position in Europe as a robust, reliable and stable reinsurer." 

The financial year 2010

Together with DR Swiss, Deutsche Rückversicherung AG posted a gross premium income of €919.9 million in the financial year 2010. After changes to the claims equalization reserves the net underwriting result came to €-28.4 million. In non-technical business, the Deutsche Rück Group achieved an investment result of €46.4 million. The operating result before tax came to €13.6 million. The net profit for the year fell to €3.7 million due to a steep rise in the tax burden. Among other things, the Group appropriated this profit to boost equity to €521.8 million. Group equity now equates to 88.5% of net premiums earned.