- Gross premiums written: EUR 3,971 million (-5.8%), of which:
- L&H Germany: EUR 2,149 million (-7.0%)
- P&C Germany: EUR 696 million (+1.4%)
- International: EUR 1,126 million (-7.6%)
- Net earned premiums: EUR 4,159 million (-3.9%)
- Combined ratio:
- P&C Germany: 92.5% (+6.3 pp.)
- P&C International: 90.1% (-4.9 pp.)
- Technical result: EUR 101 million (-60.0%)
- Operating result: EUR 291 million (+13.1%)
- Consolidated result: EUR 173 million (+27.4%)
The combined ratios remained below 100% level. In the Property-casualty Germany segment, the combined ratio was 92.5% (2Q2019: 86.2%). In the ERGO International segment, it improved to 90.1% (2Q2019: 95.0%). These improvements were fueled by a lower claims frequency in motor insurance.
ERGO Property-casualty Germany segment generated a solid result of EUR 50 million (-8.8%). Insurance claims stemming from business interruptions and event cancellations were partly offset by stable premium development and lower losses in personal lines business.
ERGO Life and Health Germany reported a lower result of EUR 63 million (-11.9%) on account of the impact of COVID-19 on the capital market and in travel insurance.
ERGO International segment's result greatly expanded to EUR 59 million (+597.2%). The increase is explained largely by improved operational performance and the fact that portfolio optimization was no longer a burden for the group's international business.