Headquarters of R + V Versicherung in Wiesbaden. Source: R + V
Corona does not seem to have left any traces at R + V Versicherung in the past year. The premium volume rose in 2020 by 8.3 percent to 19.9 billion euros. The insured community of the Wiesbaden insurer has also grown by 105,000 to 8.9 million.
The premium volume of the R + V insurance group in the German primary insurance business rose by 7.5 percent to 16 billion euros. R + V life and pension insurance recorded an increase of 9.5 percent to more than nine billion euros in premiums written. The company pension scheme made the largest contribution with a premium volume of 2.9 billion euros (plus 8.5 percent). R + V recorded the highest growth in the private old-age provision new guarantees business area with an increase of 733 million euros (plus 42.8 percent) to 2.5 billion euros.
“All in all, I would speak of a good financial year. We have some damage because we are involved in the lines of business that have been affected by the pandemic. We have damage from business closings, are one of the leading credit insurers and secure events, the travel industry and short-time work in our residual debt insurance. “
Norbert Rollinger, CEO of R + V Versicherung
In 2020, R + V Krankenversicherung recorded a premium increase of 6.3 percent to 653 million euros. In full insurance, the number of people insured rose by 2.4 percent and in supplementary insurance by 4.1 percent to a total of 1.2 million people with health insurance.
In property / casualty insurance, R + V increased premium income in the Corona year 2020 by 4.8 percent to 6.3 billion euros. In motor vehicle insurance, R + V increased its sales by 3.1 percent to 2.7 billion euros in a market that continues to be characterized by fierce competition. The number of insured vehicles rose in the past year by 176,000 to 4.9 million.
In corporate banking, sales rose by 7.3 percent to 1.7 billion euros. The growth drivers were once again the housing business (plus 16.1 percent to 114 million euros) and agricultural insurance (plus 22.7 percent to 148 million euros). Due to the corona, the demand for trade credit insurance increased by 11.5 percent to EUR 103 million in 2020.
The R + V private customer business grew by 5.9 percent to 1.3 billion euros. Accident insurance recorded great demand in 2020: premiums increased by 8.5 percent to 450 million euros. In active reinsurance, premiums grew by 9.2 percent in the past financial year. R + V cracked the contribution mark of three billion euros.
According to R + V CEO Norbert Rollinger, “there are currently 26 lawsuits pending in the dispute over the business closure insurance. Four lawsuits have now been decided – three have been dismissed and one has
the plaintiff withdrew. ”His position, however, is clear:“ We have a lot
clear conditions. We have enumerated the viruses enumeratively and did not make general reference to the Infection Protection Act. We are very confident that the other lawsuits will also be resolved in the same way ”.
In addition, “around 80 to 90 percent of the lawsuits in the industry were in favor of the insurers. The public image is perhaps a bit distorted. I am sorry if customers have hoped for something else. But I cannot insure a preventive measure taken by the state in a small line of business that has a total premium income of 25 million euros with a coverage of 19 billion euros, ”said Rollinger in an interview with the Stock exchanges newspaper.
R + V plans to publish the full 2020 business figures on March 19, 2021.
Author: VW editorial team
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