Düsseldorf, 11 December 2024 – Rating agency Standard & Poor's has confirmed its “A+” rating with a stable outlook for the Deutsche Rück Group. This means that the reinsurer has been rated “A+” with a stable outlook by the rating agency without interruption since 2016. The rating encompasses Deutsche Rückversicherung AG in Düsseldorf and Deutsche Rückversicherung Schweiz AG (DR Swiss) in Zurich.
In its recently published, detailed rating report, Standard & Poor’s recognises the particularly sustainable, solid capital base at “AAA” level, the strong competitive position and the secure earnings situation of the Deutsche Rück Group. According to the rating agency, this is supported by risk-commensurate underwriting and an effective retrocession structure.
Standard & Poor's highlighted Deutsche Rück's internationalisation strategy, which is acting as a driver for greater diversification of the portfolio and more growth. In recent years, Deutsche Rück initially entered the standard property and casualty business in the Middle East, Latin America and South, Southeast and East Asia. Now the internationalisation of the life and health reinsurance business activities is underway. In addition to its core markets of Germany and Austria, Deutsche Rück will in future also write life and health business in selected countries in the Middle East and Maghreb region.
In recognition of this, Standard & Poor's expects business performance to remain positive and the Group's capital base to grow, and has confirmed its “A+” rating with a stable outlook.
“With the ‘A+’ rating and stable outlook, Standard & Poor’s has confirmed our strategy of a solid, sustainable internationalisation of our business,” said Frank Schaar, Chief Executive Officer of Deutsche Rück. The development of new, selected markets not only in standard property and casualty business but also in the life and health lines offers ideal opportunities for risk diversification. “Our national and international clients appreciate the reliability of the Deutsche Rück Group in long-term risk partnerships, which are based on our stability and solidity,” said Schaar.
CEO Frank Schaar
