Reinsurance
In € million |
2023 |
2022 |
|---|---|---|
Insurance revenue |
1,124.8 |
1,015.4 |
Insurance service expenses |
–1,053.5 |
–938.1 |
Technical result from reinsurance |
–55.4 |
–5.3 |
Technical result |
15.8 |
72.0 |
Financial result |
60.5 |
–43.3 |
Net investment income |
100.8 |
–44.8 |
Non-technical result |
–0.7 |
–1.2 |
Earnings before taxes |
70.3 |
24.5 |
Change in insurance revenue
The insurance revenue from the reinsurance segment rose in 2023 by 10.8 per cent to €1,124.8 million (2022: €1,015.4 million).
Change in insurance service expenses
Insurance service expenses increased by 12.3 per cent to €1,053.5 million in 2023 (2022: €938.1 million).
Technical result from reinsurance
The technical result from reinsurance in 2023 declined to €–55.5 million due to fewer retrocession opportunities (2022: €–5.3 million).
Technical result
The technical result in the reinsurance segment declined in 2023 to €15.8 million (2022: €72.0 million).
Financial result
Net investment income increased in 2023 to €100.8 million (2022: €–44.8 million). The financial result increased to €60.5 million (2022: €–43.3 million).
Non-technical result
The non-technical result amounted to €–0.7 million in 2023 (2022: €–1.2 million).
Earnings before taxes
Operating profit grew by 175.7 per cent to €75.7 million due to the increased financial result (2022: €27.4 million). Earnings before taxes in the reinsurance segment increased to €70.3 million (2022: €24.5 million).