Ad-hoc announcement 2023 financial year: Gothaer outperforms the market in terms of growth

Cologne, April 19, 2024 – Gothaer Group CEO Oliver Schoeller will present the figures for the 2023 financial year at today’s balance sheet press conference. The Gothaer Group is reporting premium revenues of € 4.9 billion – an increase of 7.2 percent compared to the previous year and growth of 6.5 percentage points above market level.^[1] Despite inflation and recession concerns, the Group was able to further strengthen its equity base in 2023 to around € 1.57 billion by the end of the year (previous year: € 1.50 billion). Consolidated net income is in line with Group strategy at € 78 million. Premium revenues in the corporate client segment rose by eleven percent, thereby further strengthening Gothaer’s position as a leading partner to SMEs.

Gross premiums written by Gothaer Allgemeine Versicherung AG reached around € 2.4 billion, which is twelve percent above the 2022 level and 5.2 percentage points above market. A new record result of € 136 million was achieved in new business, corresponding to year-over-year growth of around 44 percent. Gothaer Allgemeine Versicherung AG’s consolidated net income is € 25 million.

The international rating agency Standard & Poor’s Global Ratings reconfirmed the Gothaer Group’s rating at the end of 2023 despite a problematic market environment: Gothaer Allgemeine Versicherung AG, Gothaer Lebensversicherung AG, and Gothaer Krankenversicherung AG all have an ‘A’ rating with a ‘stable’ outlook.