S&P's confirms Deutsche Ruckversicherung Group "A+" rating, outlook stable

17 November 2020 — Cosmin CONCEATU
Standard & Poor's confirmed its "A+" rating for the Deutsche Ruckversicherung Group, Outlook "stable". The rating encompasses both Deutsche Ruckversicherung AG in Dusseldorf and Deutsche Ruckversicherung Switzerland Ltd (DR Swiss) in Zurich.

Standard & Poor's reported that Deutsche Ruck has a sustainable, extremely good capital base, strong competitive position and secure earnings situation. This is supported by risk-adequate underwriting and a conservative strategy for the recognition of reserves.

Standard & Poor's also pointed out that the Deutsche Ruck Group has an excellent combined ratio, which has averaged 97.6% over the last five years, almost two percentage points better than the global market average (99.4%).

In addition, the rating agency highlighted Deutsche Ruck's strategy of developing its leading role among public insurers, as well as the gradual expansion of its international business - most recently in selected markets in North Africa and the Gulf States - as important factors in the Group's success. Standard & Poor's sees these factors as a driver of growth that will also diversify the portfolio. With this in mind, it has confirmed its "A+" rating and the company's ongoing positive business performance with a stable outlook.

Frank Schaar, Chief Executive Officer of the Deutsche Ruck Group, stated:

"In a challenging market environment, we once again expanded our strong position in our core business and simultaneously improved our risk diversification - for instance, by entering selected markets in North Africa and the Middle East. With the 'A+' rating and stable outlook, Standard & Poor's has confirmed our strategy of solid, sustainable development. This forms the basis for our reliability in long-term risk partnerships, which our national and international clients value very highly."

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