DR Swiss can look back on a successful 2024 financial year, which it concluded with an annual profit after tax of CHF 7.7 million.
DR Swiss recorded a commendable 15.8% increase in gross premiums written in the 2024 financial year, from CHF 317.4 million to CHF 367.6 million. The growth in premiums is primarily attributable to new business in motor liability business in the United Kingdom and to improvements in conditions in other business segments.
In market business, premium income grew firmly by 14.8% to CHF 269.4 million, compared with CHF 234.7 million in the previous year. In continuity reinsurance, premiums increased significantly by 18.8% to CHF 98.2 million.
The European insurance market showed a mixed picture in the financial year. While some lines of business such as liability insurance remained stable, other segments such as property insurance were affected by large claims. Following a series of major natural catastrophes in the previous year – primarily floods, landslides and a series of major hailstorms – original claims expenditure fell by 19.9% to CHF 194.4 million in 2024. The loss ratio improved significantly from 77.5% to 55.4%.
Following a technical loss before own administrative expenses of CHF 13.8 million in the previous year, the net loss for 2024 amounted to CHF 2.6 million.
DR Swiss's investments performed well. In addition to investment income of CHF 18.6 million, interest income from liquid assets amounted to CHF 2.2 million.
The net profit for the year after tax totalled CHF 7.7 million.
Strong capital base
The rating agency Standard & Poor's has once again confirmed its “A+” rating with a stable outlook for 2024 for the Deutsche Rück Group – and thus for DR Swiss as well. According to Standard & Poor's, the Deutsche Rück Group has a very strong capital base, a strong competitive position, and a secure earnings position.
Developement of GPE 2020 - 2024
in CHF million
Investment
Performance 2020 - 2024
in CHF million (inkl. Cash deposits)
