Deutsche Rück's successful business expansion

Deutsche Rückversicherung AG, together with its subsidiary, DR Swiss, Deutsche Rückversicherung Schweiz AG, has earned a positive underwriting result of €8.7 million despite the adverse impact of numerous losses from natural hazards.

Gross earned premiums totalling €1.04 billion topped the billion mark for the second time running. The 3% premium uptick was the result of expanded business volume with public-law insurers and of the successful build-up of new customer relations in Europe.

"We have made significant headway on the road to further expansion in our business with customers beyond the realm of public-law insurance," says Arno Junke, CEO at Deutsche Rück AG and Chairman of the Administrative Board at DR Swiss. At the end of the 2008 financial year, 40% of net premiums derived from this business field. Junke gives a very favourable assessment of the market environment for Deutsche Rück's further growth: "Smaller and mid-sized primary insurers, in particular, with a growing need for reinsurance cover find in Deutsche Rück a dependable partner on an equal footing able to offer financial strength, sufficient capacities and the necessary risk awareness in underwriting."

Overall, the Group posted an annual net profit after tax of €2.3 million. "The Deutsche Rück Group has thus furnished proof of its stability and capability despite the difficult financial environment in the year 2008," explains Junke.