10.01.2022 – 09:15
Munich Association of Insurance Group
Munich (ots)
According to preliminary figures, the Münchener Verein Versicherungsgruppe earned over 800 million euros in premiums for the first time in the 2021 financial year and thus achieved an increase of around 3.5 percent over the previous year. Investments grew by 2.6 percent to 7.6 billion euros. When investing in capital investments, in addition to an attractive risk-reward profile, sustainability aspects are increasingly in focus. The Group’s equity is expected to be 2.9 percent higher than in the previous year. This renewed increase underlines once more the financial solidity of the insurance group.
“I am very proud of the achievements of all of our employees and sales partners, who performed sensationally well in the difficult Corona period,” emphasizes Dr. Rainer Reitzler, CEO of the Munich Insurance Group. “I am very grateful that we once again exceeded the great new business of the previous year in 2021. Our strategy of relying on supplementary insurance, which has been successful in health insurance for years, has also proven itself in the 2021 financial year. We will continue to pursue this strategy consistently.”
The premium income in health insurance increased to almost 600 million euros. Despite a positive one-off effect in the previous year, the Munich club recorded a further increase of 5.6 percent in new CT business. For the first time, more than 500,000 people were insured with the Munich Association.
In life insurance, premium income rose to over 165 million euros. New business grew by almost 29 percent compared to the previous year. The encouraging increase was provided by innovative, opportunity-oriented products with growth rates of over 79 percent.
General insurance achieved premium income of around 51 million euros. In property insurance, net production rose by 7.3 percent compared to the previous year. Despite various natural events and major losses, the combined ratio was 95 percent, well below 100 percent, thus proving the stability of society.
“We have big plans for the 100th birthday of our company,” announced Dr. Reitzler. “In all product areas of KV, LV and property liability, we will bring new and particularly attractive products to the market for our sales partners. Our awards, in particular the title of ‘Insurer of the Year’, which we received for the tenth time in a row in 2021, we want to defend it successfully. We will also rapidly advance our digital transformation. ”
Press contact:
Munich Association of Insurance Group
Central company coordination and press
Johannes Schuster M. A.
Press officer
Pettenkoferstr. 19
80336 Munich
Tel: 089/51 52 1154
Fax: 089/51 52 3154
[email protected]
www.muenchener-verein.de
Original content from: Münchener Verein Versicherungsgruppe, transmitted by news aktuell
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