The premium volume written in the reinsurance segment increased by 27.6 per cent to € 1,633.1 million in 2013 (2012: € 1,280.0 million), whereas retained premiums earned (in accordance with IFRS) fell by 2.1 per cent to € 1,073.6 million (2012: € 1,096.5 million).
Retained insurance benefits in the reinsurance segment declined by 6.1 per cent to € 782.5 million in 2013 (2012: € 833.3 million). This includes a loss (retained) due to the flooding in the second quarter of 2013 in the amount of € 23 million.
Operating expenses less reinsurance commission received and profit shares from reinsurance business in the amount of € 3.9 million (2012: € 2.8 million) increased slightly by 3.0 per cent to € 333.6 million (2012: € 323.8 million).
As a result of this development, the loss on ordinary activities in the reinsurance segment improved by € 35.6 million to € 18.0 million (2012: loss of € 53.5 million).
