German reinsurance company Deutsche Rück Group announced a net profit after tax of 21.1 million euros for the full year of 2025, an increase of approximately 45.5% from 14.5 million euros in 2024.
This year, gross premiums increased across all strategic business units, rising by 6.1% from €2.09 billion to €2.21 billion. Net premium income increased by 9.1% from 1.47 billion euros to 1.56 billion euros. Growth was driven by both international markets and the domestic German market, the company said.
Deutsche Luc AG achieved the highest premium growth in the life reinsurance sector. In the life and health business, gross premiums increased significantly by 24.9%, reaching 105.2 million euros. Deutsche Rück Group has expanded its life and health reinsurance business into the Middle East and North Africa region in 2024.
Gross premiums also grew solidly in property and casualty insurance (+4.7%) and auto and liability insurance (+5.6%). Other insurance lines increased by 12.5% to 115.7 million euros.
The group’s combined ratio improved slightly to 92.5% from 92.6%, and the net expense ratio increased to 30.6% from 28.1%, but this was offset by an improvement in the net loss ratio to 62.1% from 64.2%.
The largest single loss, approximately €5.5 million, was caused by a severe earthquake in Southeast Asia, with its epicenter in Myanmar. As claims progressed smoothly, the gross odds ratio dropped from 58.1% to 54.3%. The retrocession program in the real estate business reduced claims expenses across the affected product lines, albeit to a lesser extent than in the prior year. The net technical result before equalization reserves was a profit of €75.8 million.
The company’s investment income was €69.6 million, compared with €74.8 million in the previous year.
Total securities, including net claims reserves and reserves for future policy benefits, increased from €3.16 billion to €3.55 billion.
“In 2025, we once again achieved profitable growth in all business areas, especially in life and health reinsurance,” said Achim Bosch, CEO of Deutsche Rück Group. “We see this as clear evidence of the success of our progressive and purposeful internationalization strategy. Our financial strength remains a key factor in the expansion of our international business.”
By 2026, the group expects further growth in life and health reinsurance premiums, driven by expansion in German-speaking markets and continued growth in the Middle East and North Africa region.
