The Deutsche Ruck Group has been awarded an "A+" rating with a stable outlook by the rating agency Fitch. This is the first time the rating agency has assessed the reinsurer, said the company in a statement.
The rating encompasses Deutsche Ruckversicherung in Dusseldorf and Deutsche Ruckversicherung Schweiz (DR Swiss) in Zurich.
In its rating report, Fitch highlights the Deutsche Ruck Group’s very strong capitalisation, its strong competitive position – notably as the leading reinsurer for Germany’s public insurers – and its strong financial performance. At the same time, Fitch highlights the Deutsche Ruck Group’s strong reserve adequacy and its effective retrocession structure. Fitch expects business performance to remain positive and capital development to be stable, and against this backdrop assigns a stable outlook.
“We regard the ‘A+’ rating and the stable outlook as further tangible evidence of the success of our sound, sustainable internationalisation strategy,” said Mr Achim Bosch, CEO of Deutsche Ruck. “Both nationally and internationally, our clients value the reliability of the Deutsche Ruck Group in long-term risk partnerships based on stability and solidity.
”As part of the ongoing internationalisation of its business, the Deutsche Ruck Group will be rated regularly by Fitch in future. Fitch’s new rating confirms the assessment of the rating agency Standard & Poor’s, which has consistently rated the Deutsche Ruck Group “A+” since 2016.”