Düsseldorf, 6 December 2022 – The rating agency Standard & Poor’s has confirmed its rating of "A+" and maintained its outlook of "stable" for the Deutsche Rück Group. The rating encompasses both Deutsche Rückversicherung AG in Düsseldorf and Deutsche Rückversicherung Switzerland Ltd (DR Swiss) in Zurich.
Standard & Poor’s reports that the Deutsche Rück Group has a sustainable, solid capital base at "AAA" level, a strong competitive position, and a secure earnings performance. This is supported by risk-commensurate underwriting and an effective retrocession structure.
The rating agency also praised the Deutsche Rück Group’s strategy of further expanding its international business, citing this as another strength. Standard & Poor’s sees this as a driver of growth that will also diversify the portfolio. Deutsche Rück announced in September 2022 that it would start underwriting standard property and casualty business in the South, Southeastern and East Asian markets, having already entered the Latin American and Middle Eastern markets in recent years.
In this context, Standard & Poor’s expects the Group’s business performance to remain positive and its capital base to develop positively, thus confirming its rating of "A+" with a stable outlook.
“With the ‘A+’ rating and stable outlook, Standard & Poor’s has acknowledged our strategy of solid, sustainable development,” says Frank Schaar, Chief Executive Officer of Deutsche Rück, explaining that tapping into selected new markets in Asia, the Middle East region and Latin America offers the best opportunities for risk diversification. “Our stability and solidity form the basis for the Deutsche Rück Group’s reliability in long-term risk partnerships, which our national and international clients highly appreciate,” Schaar says.
Frank Schaar, CEO DR Swiss and Deutsche Rück: "Our stability and solidity form the basis for the Deutsche Rück Group’s reliability in long-term risk partnerships, which our national and international clients highly appreciate."
