Strategic principles

Strategic principles

For many years now we have reviewed our corporate strategy in a three-year cycle. The present strategy is the product of the review conducted in 2011.

Our business model

  • Optimise risk diversification across all lines and countries
  • Generate an exceptionally high return on equity by reducing the required capital
  • Expand primary insurance business in selected niche markets as a complement to our reinsurance activities
  • E+S Rück: Rank among the top 2 reinsurers in Germany
  • E+S Rück: Maintain or enlarge the number of minority shareholders and cultivate trusting cooperation
  • E+S Rück: Expand lead mandates in Life and Non-Life

We have ambitious profit and growth targets

  • Achieve triple-10 target
  • Grow premium volume (by more than the market average)
  • Generate profit clearly in excess of the cost of capital
  • Generate an IFRS return on equity of at least 750 basis points above the risk-free interest rate
  • Outperform Global Reinsurance Index over a three-year period
  • Consistently pay an attractive dividend

We manage risks actively

  • Ensure protection of capital through quantitative and qualitative risk management
  • Maximise risk-adjusted profits

We are a preferred business partner

  • Enhance our clients’ commercial success through our services
  • Respond undogmatically, flexibly and quickly to the needs of our clients
  • Offer standard products as well as specially tailored customer solutions that add value for both contracting parties
  • Foster customer relationships to both parties’ mutual benefit irrespective of the size of the account
  • Safeguard our financial capability
  • Systematically seek and explore new business opportunities
  • Cooperate across business groups
  • Generate additional business opportunities on the basis of Solvency II

We aim for successful employees

  • Promote and require a goal-oriented working approach among our staff
  • Foster the qualifications, experience and commitment of our staff
  • Ensure the greatest possible delegation of tasks, responsibilities and authority
  • Offer attractive workplaces
  • Manage staff according to our management principles

We maintain an adequate level of capitalisation

  • Ensure that requirements for equity resources
    (economic capital model, solvency regulations, etc.) are met
  • Optimise composition of the available capital

We strive for stable investment income

  • Take into account the maturities of our liabilities and the liquidity requirements of our business
  • Ensure currency matching
  • Ensure stability of the return to be generated
  • Achieve target return – risk-free interest rate plus the cost of capital

We ensure a lean organisation

  • Ensure a lower administrative expense ratio than our competitors
  • Information and communication systems assure optimal support for business processes in light of cost/benefit considerations
  • Achieve efficient processes through excellent process management
  • Maintain lean structure and organisation

We are committed to sustained compliance

  • Ensure conformity with all legal requirements
  • Encourage sustainable actions with respect to all stakeholder groups
  • Support considered and pragmatic principles of corporate governance and recognise their central role in guiding our activities

We strive for Performance Excellence

  • Ensure rigorous derivation of strategic objectives across all areas of the company

Our employees contributed to the strategy revision. The high degree of familiarity and insight thereby created is a guarantor of successful execution.

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