German reinsurer the Deutsche Rück Group has reported a net profit after tax of €21.1 million for the full year 2025, up approximately 45.5% from €14.5 million in 2024.
For the year, gross written premiums grew across all strategic business segments, rising by 6.1% to €2.21 billion from €2.09 billion. Net premiums earned increased 9.1% to €1.56 billion from €1.47 billion. The company said growth was driven by both international markets and the German domestic market.
The Deutsche Rück Group achieved the highest premium growth in life reinsurance. In the life and health business, gross premiums rose sharply by 24.9% to €105.2 million. The Deutsche Rück Group had expanded its life and health reinsurance business to the MENA region in 2024.
Property insurance lines (+4.7%) and motor and liability lines (+5.6%) also recorded solid growth in gross premiums. Other lines of insurance increased 12.5% to €115.7 million.
The group’s combined ratio improved slightly to 92.5% from 92.6%, with the net expense ratio rising to 30.6% from 28.1%, offset by an improved net loss ratio of 62.1% from 64.2%.
The largest single loss, amounting to around €5.5 million, stemmed from a severe earthquake in South-East Asia, with its epicentre in Myanmar. Due to favourable claims development, the gross loss ratio fell to 54.3% from 58.1%. The retrocession programme for the property business reduced claims expenditure in affected lines, albeit to a lesser extent than in the previous year. The net technical result before equalisation reserves closed with a profit of €75.8 million.
The firm generated investment income of €69.6 million, compared to €74.8 million the previous year.
Total securities, including net claims provisions and provisions for future policy benefits, increased to €3.55 billion from €3.16 billion.
“In 2025, we once again achieved profitable growth across all business segments, particularly in life and health reinsurance,” said Achim Bosch, Chief Executive Officer of the Deutsche Rück Group. “We regard this as clear evidence of the success of our strategy of gradual and purposeful internationalisation. Our financial strength remains a key factor for the expansion of our international business.”
For 2026, the group anticipates further premium growth in life and health reinsurance, driven by expansion in German-speaking markets and continued growth in the Middle East and North Africa region.
