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Gothaer Group 2015 Financial Year: Gothaer Strengthens Equity Basis and Gains Market Share in Property Insurance

Nachrichtenquelle: EQS Group AG
01.06.2016, 10:30  |  1435   |   |   
DGAP-Media / 01.06.2016 / 10:30

PRESS RELEASE

2015 Financial Year: Gothaer Strengthens Equity Basis and Gains Market
Share in Property Insurance

- Consolidated profit for the year on the up

- Equity basis again strengthened

- Rating agencies confirm good results

- Roll-out of CRM system on track

Cologne, 1 June 2016 - The Gothaer Group presents sound 2015 figures in a
difficult market environment: its consolidated net profit for the year was
up 14.5% to EUR134 million. Some of the profit was used to strengthen its
equity basis. Group equity grew 3.3% and stood at EUR1,837 million at the
end of 2015. The investment result rose 9.8% to EUR1,213 million. Gross
premiums written, at EUR4.52 billion, remained at the previous year's level
(+0.1%) in 2015.

The Property/Casualty segment grew above the market average. Thanks to a
renewed rise in persons with supplementary insurance, Gothaer
Krankenversicherung is seeing further growth in its supplementary health
insurance business, while the Life Insurance segment posted a decline owing
to the difficult market environment and the deliberately selective
underwriting of single-premium policies.

Gothaer Allgemeine: Property/casualty insurer gains market share
Gross premiums written by Gothaer Allgemeine Versicherung AG, at EUR1,703
million, were up 5.3% on the 2014 level, meaning that Gothaer's property/
casualty insurer again grew above the market (+2.7%) and once more obtained
high growth rates among private clients and corporate customers. "We set
great store by providing comprehensive advice to our private clients and
commercial customers. In 2015, we successfully focused on our commercial
business and expanded our target-group orientation thanks to tailored-to-
suit solutions. We'll go on working on this", reports Thomas Leicht,
Gothaer Allgemeine CEO.

Renewable energies business field still on expansion course
Gothaer Allgemeine has been the leading insurer of windfarms in Germany and
other EU countries for some years now and was able to expand this market
position further in 2015: in the 2015 financial year, it was possible to
increase sales revenue by 8.6% in the wind energy business field and 4.7%
in the photovoltaics business field. Worldwide, Gothaer has insured some
16,500 windfarms, including nearly 15,000 systems in Europe.

Gothaer Leben: Consolidation of business model and realignment initiated
Gross premiums written by Gothaer Lebensversicherung AG in 2015 fell 6.8%
to EUR1,294 million owing to a very difficult market environment and a
deliberate decision to selectively underwrite single-premium policies. At a
very early stage, the Company had focused its product development on the
promising, strategic business fields 'company pension schemes', 'unit-
linked pension plans' and 'biometric solutions'. "We'll be pursuing this
path systematically and are working flat out on adapting our business model
accordingly", says Michael Kurtenbach, CEO of Gothaer Lebensversicherung AG
and Gothaer Krankenversicherung AG. "Here, the Biometrics and Pension-Plan
units are and remain our core business fields. At the start of 2016, we
launched our new, multi-channel-capable term life insurance products. Our
new future-provision products with changed guarantees are to be launched
shortly", continues Kurtenbach, discussing the 2016 product innovations.

Gothaer Kranken: Strong growth in supplementary insurance
Gross premiums written by Gothaer Krankenversicherung AG climbed 3.6% to
EUR913 million. The number of persons with supplementary insurance grew
further and stood at some 434,000 insured clients at the end of the year -
equivalent to a 2.6% rise and growth above the market. "In 2016, our
digitization offensive is going into the second round", says Kurtenbach.
"We will be expanding our RechnungsApp (invoice app) - very popular with
our clients - to include an Android version, and have launched an e-
signature solution in the area of supplementary insurance. In addition, we
have entered into cooperation schemes with start-ups to be able to help our
customers with serious illnesses, like tinnitus and diabetes, even more
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