X hits on this document

206 views

0 shares

0 downloads

0 comments

23 / 100

Reports on the principal companies

€ 3,136.2 million

€ 2,775.5 million

116.6%

85.3%

26.0%

30.0%

€ –470.9 million

€ 138.5 million

€ 7,158.6 million

€ 7,132.8 million

2000

Gerling-Konzern Globale Rückversicherungs-AG (GKG), Cologne

Gross premiums Loss ratio (net)* Cost ratio (net) Loss/profit after tax Investments

  • *

    benefit and claim payments in relation to earned premiums

2001

The gross premium income of Gerling-Konzern Globale Rückversiche- rungs-AG grew by € 360.7 million or 13.0% to € 3,136.2 million in the financial year 2001. Set against recessive premiums in Germany was again a marked increase in revenues from foreign markets, with ex- change rate movements having a negative impact on growth.

Owing to reduced retrocession costs, net premium receipts grew more sharply than gross premium volume. Written net premiums increased by € 480.2 million or 22.4% to € 2,620.4 million (p.y. € 2,140.2 million).

The exceptionally high loss expenditure was due mainly to World Trade Center claims. The loss burden was compounded, however, by other major loss incidents, run-off losses from natural catastrophes in previ- ous years and a high additional reserving requirement for asbestos- related run-off in the United States. As a result, the net loss ratio moved up to 116.6% (p.y. 85.3%).

The carrying value of investments rose to € 7,158.6 million in the year under review. Net income from investments was unsatisfactory at € 313.7 million (p.y. € 380.4 million).

Gerling Global Re Group 21

Document info
Document views206
Page views206
Page last viewedSat Dec 03 18:01:55 UTC 2016
Pages100
Paragraphs2664
Words20506

Comments