S&P improves outlook for Deutsche Rück
A+ rating confirmed

Düsseldorf, September 2nd, 2010 – The rating agency Standard & Poor’s has affirmed its A+ rating for Deutsche Rückversicherung AG in Düsseldorf and improved the outlook from “negative” to “stable”. For the subsidiary DR Swiss, S&P confirmed its A+ rating as well – also with a stable outlook.

Standard & Poor’s bases its revision of Deutsche Rück’s financial capability mostly on the company’s very strong capitalization and its strong competitive position. A much more positive evaluation of business outside the public-law insurance sector was also decisive for this year’s S&P rating. The rating agency emphasized its assumption that the future quality of business will remain on today’s level.

Dr Arno Junke, CEO of Deutsche Rück and president of the administrative board of its subsidiary DR Swiss, was pleased with the better rating: “We successfully convinced the analysts and the rating committee of the quality of our business. We believe that S&P’s decision confirms the strategic development we have been enforcing in the recent years. We are confident that we will be able to strenghten our position as a solid, secure and stable reinsurance company.”

Equity ratio substantially improved

The gross premiums of Deutsche Rück group – consisting of Deutsche Rück AG and its subsidiary DR Swiss – reached € 1.01 billion in the 2009 financial year. The financial year was characterized by a moderate loss ratio, a substantial allocation to the equalization reserves and a significantly improved yield on investments. “We succeeded in strengthening our substance and in significantly improving our net income”, Junke commented. The group’s result after tax reached € 19.5 million. With more than € 525 million of equity capital, the group achieved a satisfying rate of about 80 % of the net premiums earned.