Significant Growth for BarmeniaGothaer in 2024

BarmeniaGothaer reported strong financial results for 2024, marking above-market growth in all segments. The company achieved a premium income of €8.59 billion, a seven percent increase from the previous year, and 1.9 percentage points above the market level. The equity base also expanded to around two billion euros, with a Solvency II ratio of 188.5 percent.

Gothaer Allgemeine Versicherung AG saw gross premiums totalling €2.7 billion, reflecting a 10.2 percent rise over 2023, surpassing market growth by 2.3 percentage points. The group's pre-tax surplus increased by €9.3 million, leading to a combined ratio improvement to 93.4 percent, while its Solvency II ratio reached 163.2 percent.

Following the merger with Gothaer, S&P Global Ratings upgraded BarmeniaGothaer's outlook to "positive" and maintained its "A" rating. There is potential for an upgrade to "A+" within 24 months.