Reinsurance key figures

In € million




Premiums written




Insurance benefits (net)




Operating expenses (net)




Cost ratio (after reinsurance)




Earnings before taxes




Technical provisions (net)




In the reinsurance segment, the premium volume written fell in 2022 by 0.6 per cent to €1,461.3 million (2021: €1,469.5 million).

Premiums written, including savings portions from unit-linked and index-linked life insurance – Reinsurance

In € million

Premiums written including savings portions from unit-linked and index-linked life insurance Reinsurance (Graphic)

However, the volume of premiums earned (net, in accordance with IFRSs) increased by 6.4 per cent to €1,308.3 million (2021: €1,229.2 million).

Net insurance benefits rose by 4.3 per cent to €822.0 million in 2022 (2021: €788.0 million).

Operating expenses, less reinsurance commissions received and the share of profit from reinsurance ceded in the amount of €13.3 million (2021: €10.4 million), increased by 10.0 per cent to €395.8 million (2021: €359.8 million).

Net investment income decreased to €–0.5 million (2021: €33.7 million) in 2022.

Earnings before taxes in the reinsurance segment decreased by 21.6 per cent to €74.9 million (2021: €95.6 million).

International Financial Reporting Standards. Since 2002 the term IFRSs has applied to the overall concept of standards adopted by the International Accounting Standards Board. Standards already adopted beforehand continue to be referred to as International Accounting Standards (IASs).
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Insurance benefits
Total of insurance benefit payments and changes in the claims provision during the financial year in connection with direct insurance and reinsurance contracts (gross). This involves net insurance benefits when reduced by the amount ceded to reinsurance companies. This does not include claims settlement expenses and changes in the provisions for claims settlement expenses.
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The part of risk which is assumed but that the insurer/reinsurer does not cede as reinsurance.
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Operating expenses
This item includes acquisition expenses as well as portfolio management expenses and the expenses for implementing reinsurance. The operating expenses remain for the company’s own account following deduction of the commissions and profit participation received from the reinsurance business ceded.
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Premiums earned
The actuarial premiums earned that determine the income for the year. In order to determine these, the changes to the unearned premiums, the cancellation provisions and the premiums not yet written are taken into account, along with the gross premium volume written attributable to the financial year.
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