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Miscellaneous insurance classes

2001

2000

1999

1998

1997

190

183

150

145

115

Gross premium income from Miscellaneous insurance classes in € million

200 100

Gross premium revenues rose by 3.5% Loss expenditure increased

“Miscellaneous insurance classes” include Credit, Legal Expenses, Motorist Assistance and Other indemnity insurances.

While gross premium receipts from Credit business increased to € 115.4 million – € 13.4 million more than in the preceding year – premium revenues from Other indemnity insurances decreased by € 6.3 million to € 55.5 million. In the Legal Expenses and Motorist Assistance classes, too, gross premium volume was moderately recessive. Overall, premium income rose by € 6.4 million or 3.5% to € 189.9 million.

Gross loss expenditure on Credit business went up € 41.2 million to € 87.1 million. This was due to the major losses Asia Pulp & Paper, Brinkmann and Hornitex. In the other “Miscellaneous insurance classes”, however, loss bills decreased by € 11.1 million, so gross loss expenditure overall increased by only € 30.1 million. The net loss ratio moved accordingly by 10.3 percentage points to 67.8%.

The higher loss expenditure in the Credit class impacted on the “Miscellaneous insurance classes” net underwriting account. After a surplus of € 11.1 million in the preceding year, the financial year 2001 produced a € 6.8 million deficit.

Gerling-Konzern Globale Rückversicherungs-AG/Management Report 47

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