Economic Performance 2024
The Gothaer Allgemeine Versicherung AG has concluded the fiscal year 2024 with impressive figures. With gross premiums of around 2.7 billion euros, the company recorded premium growth of 10.2% compared to the previous year. This performance exceeds the market level by 2.3 percentage points. The surplus from normal business operations also increased by 9.3 million euros to approximately 46.5 million euros.
Another success was the improvement of the combined ratio by 1.9 percentage points, now standing at 93.4%, indicating more efficient processes in claims handling.
Rating and Outlook
Regarding the rating, S&P Global Ratings has raised the Gothaer’s outlook from “stable” to “positive,” while the existing “A” rating has been confirmed. This puts the company in line for a possible upgrade to “A+” in the next 12 to 24 months.
Despite challenging market conditions, the future prospects for 2025 foresee further growth across all business areas. The focus is on the integration of exclusive distributions and investments in digital technologies.
Business Developments
The merger with Barmenia has proven to be value-creating, especially in the property insurance sector, with a premium growth of 11.1%. Gothaer Life Insurance is also showing positive developments with an increase in premium income of 5.5%.
Customer Consulting and Market Position
Although Gothaer Insurance is not positioned among the best in customer consulting, the merger has strengthened its market position, placing it among the top 10 insurers in Germany.