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25 / 100

2001

2000

€ 573.7 million 118.7% 4.1% € 28.4 million € 1,984.0 million

€ 382.0 million 110.1% 4.4% € 25.7 million € 1,462.4 million

Gerling Global International Reinsurance Company Ltd. (GGIR Bridgetown), Bridgetown

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

  • *

    benefit and claim payments in relation to earned premiums

Gross premium income increased to € 573.7 million. This amounts to € 191.7 million growth or a 50.2% upturn in comparison with the pre- ceding year.

GGIR again registered positive results in 2001. Profit after tax rose to € 28.4 million (p.y. € 25.7 million). Investment income grew by € 75.1 million to € 161.9 million (p.y. € 83.7 million).

€ 414.6 million

€ 386.6 million

85.3%

85.1%

21.5%

19.9%

€ 6.9 million

€ 16.3 million

€ 659.1 million

€ 545.6 million

2000

Gerling Globale Rückversicherung AG (GGR Zug), Zug

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

  • *

    benefit and claim payments in relation to earned premiums

2001

GGR Zug increased its gross premium income by 7.2% to € 414.6 million in the year under review. Both Life and non-Life reinsurance business showed positive growth rates.

As well as doing business outside the Group, the company also writes protective covers for sister companies. The terrorist attack on the World Trade Center thus led to loss expenditure through retrocession busi- ness from the London market.

In addition to this tragic incident, the company noted an increase in claims frequency. In the Liability class, the underwriting result was depressed by a variety of major losses in the chemical, pharmaceutical and medical sectors.

Gerling Global Re Group 23

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