BarmeniaGothaer achieves significant above-market growth in all segments in 2024

Cologne/Wuppertal, 11 April 2024 – BarmeniaGothaer has closed the 2024 financial year with excellent growth figures. It reported premium income of € 8.59 billion[1]in 2024 – an increase of seven percent compared to the previous year – and growth of 1.9 percentage points above market level.[2] The group equity base expanded to around two billion euros in 2024. The Solvency II ratio is 188.5 percent (excluding transitional provisions).

Gross premiums written by Gothaer Allgemeine Versicherung AG totalled around € 2.7 billion, which is 10.2 percent above the 2023 figure and represents premium growth of 2.3 percentage points above market level. A surplus of around € 46.5 million remained from the income before taxes before adjustment of the equalization reserve – an increase of around € 9.3 million compared to the previous year. The (gross) combined ratio improved by 1.9 percentage points to 93.4 percent. The Solvency II ratio (with group-specific parameters) increased by 1.5 percentage points to 163.2 percent.

In view of the merger of Barmenia and Gothaer, rating agency S&P Global Ratings (S&P) raised the outlook from “stable” to “positive” and confirmed the “A” rating of Gothaer Allgemeine Versicherung AG, Gothaer Lebensversicherung AG and Gothaer Krankenversicherung AG in June 2024. S&P’s upward revision of the outlook has opened up an opportunity to improve the current rating by a further increment to “A+” within the next 12 to 24 months.[3]