R+V Versicherung AG

Management Report 4
Risks report / Forecast
broad diversification of the credit risks. The high share of
fixed-interest bearing securities with strong credit rating in
the capital investment portfolio ensures that the technical
obligations can be satisfied at all times. This long-term investment
strategy which is oriented to security will – supported by
a modern risk management – also be the determining factor in
2010.
Positive results expected in insurance technology
R+V Versicherung AG will also continue the selective underwriting
policies of the previous years in 2010 and expand the
business where rates can be achieved which are adequate for
the risks. The strategy of income orientation and of growth
will be further pursued. The quality standards for the underwriting,
pricing and the loss management are continuously
adjusted to the actual conditions and monitored.
Within the framework of the renewal negotiations for 2010
– the main renewal for the company takes place as of 1 January
– the strategic orientation of R+V Versicherung AG will be
continued with regard to a diversified risk portfolio. In these
negotiations it was seen once again that particularly against
the background of the international financial and economic
crisis, considerable importance is attached to the rating of a
reinsurance company. With its rating of A+ R+V Versicherung
AG is well positioned in the reinsurance business, and is a solid
and reliable partner for the direct insurance companies.
In this context R+V Versicherung AG expects a positive technical
result in the segment of the property and accident insurance
for 2010. The company assumes a growth in premiums,
a stable loss ratio and a slight increase in costs in connection
with the growth in premiums. This expectation is subject to
the assumption that there will be no burdens from major losses
apart from the expected value.
In the segment of the active life reinsurance the premium
volume will fall owing to the discontinuation of the business
since 2004, but however will generate a positive technical
result.
Annual Financial Statements 33 Further Information 57 29
The accounting law modernisation act, which came into force
since 29 May 2009 (BilMoG) is to be applied with regard to the
accounting and valuations to the fiscal years beginning after
31 December 2009. The ensuing legal and balance sheet implications
were analysed and valuated. Necessary measures for
the implementation with regard to the accounting and valuation
were initiated.
Thank you
The Board of Management would like to thank all employees
for their personal engagement and their high degree of willingness
to show commitment. Their performances and specialist
know-how were the pre-requisite for managing the tasks in
a competitive environment which is becoming increasingly
harder.
The Board of Management would like to thank the representative
committee of the executives and the works council for the
trustworthy cooperation.
We would especially like to thank our business partners for the
trust they placed in us.
Wiesbaden, 24 February 2010
The Board of Management