75 Years of Deutsche Rück

Shaping History
together – yesterday, today and tomorrow

Discover now!

75 years of Deutsche Rückversicherung AG are an impressive testament to resilience, adaptability and a strong spirit of partnership. This chronicle clearly illustrates how closely the development of Deutsche Rück has been intertwined with the economic, political and social conditions of its time. Since its founding in 1951, the company has held its ground in a dynamic environment and has continuously evolved. What has consistently endured, however, is its clear set of values: reliability, a spirit of partnership and a special closeness to its owners, the public-law insurers.

The history of Deutsche Rück is characterised by growth and innovation, but also by periods of realignment. Especially in challenging times, it has become evident how important a stable ownership structure and a strong shared foundation are. The ability to learn from experience and to implement strategic adjustments with determination has made the company what it is today: one of the leading reinsurers in Germany and a trusted partner in Europe and international markets.

The title of this chronicle captures it perfectly: History is shaped together – yesterday, today and tomorrow. I would therefore like to extend my thanks to all those who have helped shape Deutsche Rück’s journey: its employees, members of the Board of Executive Directors and Supervisory Board, as well as shareholders past and present. Their commitment, expertise and trust form the foundation of this success.

I invite you to immerse yourself in the eventful and compelling history of Deutsche Rück and wish you an enjoyable read.

Yours sincerely,

Professor Dr Frank Walthes
Chairman of the Supervisory Board

1945 – 1976 Foundation and years of New Beginnings

Reinsurance for a Country in Ruins

Today, Deutsche Rück is one of the leading reinsurers in the German market. In Europe and in selected international markets, it is a sought-after partner. However, its beginnings as a reinsurer for public insurers in post-war Germany were anything but easy.

A Different World: Public Insurers after 1945

After 1945, the landscape of public insurers in Germany was entirely different from what it is today. In 1950, there were still a total of 24 regionally highly fragmented insurers. Their interests were fragmented, too. Accordingly, the debate over the form of a joint reinsurance arrangement reflects the differing situation of the public insurers.

The Founding of Deutsche Rück

In what form should the joint reinsurance for public fire insurers be organised in future? As a cooperative solution via an association, as the life and accident insurers had done? Or through a separate public limited company instead? Public insurers debated this question for several years. In the end, they opted for a public limited company.

New Beginnings in the Economic Miracle

After its founding in August 1951, the new reinsurer wasted no time. On 12 February 1952, the company, registered in the Hamburg commercial register as “Deutsche Rückversicherung Aktiengesellschaft”, commenced business operations in the Hanseatic city.

Success in Manageable Structures

Deutsche Rück has grown strongly since its founding. Despite this pace of growth, however, the number of employees remained unchanged. By the mid-1950s, the workforce was still very small, with just 16 employees.

In the Eye of the Storm

In the 1960s, the economic boom in Germany continued unabated – and with it the growth of the public insurers and their reinsurer. However: From the outset, major natural catastrophe events became a constant companion for Deutsche Rück.

1976 – 1995 From Boom to Crisis

First Steps Abroad

High losses from fire and storms have weighed on Deutsche Rück’s balance sheet since the 1960s. The company therefore decided to change its strategy. It ventured abroad – with costly consequences.

The London Venture

With its move abroad, Deutsche Rück entered a new boom phase. However, this was short-lived. It soon became clear that the business acquired in the London market was predominantly high-loss in nature.

A Collective Effort

Deutsche Rück had to free itself from the predicament into which it had fallen as a result of its international business. This required a collective effort by all public insurers. Together, they rescued Deutsche Rück.

1989 – 2004 New Directions

From the Elbe to the Rhine

In the 1970s, Düsseldorf developed into a centre for the interregional activities of the public insurers. There, they pooled their resources through several new service companies and the legal protection insurer ÖRAG Rechtsschutz, founded in 1970. At the end of the 1980s, Deutsche Rück also entered a new chapter and relocated from Hamburg to Düsseldorf.

Unity as an Opportunity

After the Second World War, public insurers existed only in the Federal Republic of Germany. With the fall of the Berlin Wall in 1989 and reunification in 1990, the way into Eastern Germany was open once again. Since then, the landscape of the public insurers has changed considerably – and with it the business of Deutsche Rück.

The Transformation into a Service Partner

Following its crisis experience in international business, Deutsche Rück reinvented itself in the mid-1990s. Like most other reinsurers, it had until then largely confined itself to assuming risks from primary insurers. Now, it wanted to tap into additional business areas and pursued new strategic directions.

Specialist in Natural Hazards

Storms and floods had long dominated the business of the public insurers. After all, they were usually market leaders in building insurance within their respective business territories. They therefore had to cope with major accumulation risks. Deutsche Rück stood by its shareholders and developed into a specialist in managing natural hazards in Germany.

New Building – New Chapter

The strategic repositioning of Deutsche Rück became a success story. With the paradigm shift towards providing risk transfer alongside complementary services, the organisation’s personnel and cost structure naturally changed as well. The team grew significantly.

A Cautious Step Abroad

Once bitten, twice shy. Following the negative experiences with international business in the 1980s, any expansion beyond Germany’s borders initially remained taboo for Deutsche Rück and its shareholders for a long time. In 2000, however, it took a cautious new step abroad. It founded its subsidiary DR Swiss in Zurich.

Consolidation and Its Impact on Business

With deregulation in 1994 and the end of the monopolies, the landscape of the public insurers changed fundamentally. The phase of expansion following German reunification was ultimately followed by a period of upheaval. A strong process of consolidation took place. This had considerable implications for Deutsche Rück’s business.

The Long Road Abroad

Deutsche Rück had to find an answer to the sharp decline in premium income in its core business with the public insurers. Which strategy should the company pursue in future? Should it continue along its previous path as the in-house insurer of the public insurers? Should it cooperate with a reinsurer from the private market, or even merge with one? Or should it expand abroad after all?

2005 – 2025 International Expansion – and Market Leader in Germany

Step by Step into the Wide World

Deutsche Rück took its first step abroad in 2005, initially entering familiar territory. It began in the DACH region (Germany, Austria and Switzerland). With the STARK project – “Strategic Alignment of Reinsurance within the Deutsche Rück Group” – the company gradually began tapping into new sources of growth in the DACH region and diversifying its business.

Market Leader in the Domestic Market

Not only abroad, but also in its domestic German market, Deutsche Rück achieved remarkable success. In doing so, it was able to benefit from fundamental changes in the market.

From Europe to the World

In the international market, Deutsche Rück remained on its course of expansion. Following its initial cautious steps, it significantly expanded its international activities. Its objective was to tap into additional sources of growth abroad and drive diversification forward.

The Flood Shock: A Stress Test Following Record Losses

In 2021, storm Bernd posed a real stress test. From the very beginning, Deutsche Rück’s history had been shaped by major natural catastrophe events. But in July 2021, Bernd brought devastation on an unprecedented scale and pushed loss levels to new dimensions – both across the market and for Deutsche Rück itself.

Doing Something for the Community

Deutsche Rück takes a long-term approach. That is part of its DNA. And this applies not only to its core business and customer relationships. Supporting social and educational projects is a matter close to Deutsche Rück’s heart. It steps in wherever support is needed. From its home base in Düsseldorf to India.

A Distinctive Employer with a Diverse Workforce

As internationalisation increased, the workforce at Deutsche Rück also changed. The company manages its global business centrally from Düsseldorf. Many new employees with international expertise have joined Deutsche Rück, bringing greater diversity to the workforce.

2025 – 2029 Shaping the Future Together

Looking Ahead

On 22 August, Deutsche Rück celebrated its 75th anniversary. In doing so, it is not only looking back on 75 years of successful and vibrant company history. It also has a clear vision for the future, and has laid the foundations for this.

“Evolvement” Follows Expansion

Deutsche Rück is continuing its successful strategy of international expansion, and has set out this strategy in a new five-year plan under the motto “Evolvement”. The focus of the 2025–2029 strategy is to build on and further expand business in selected international markets.

“The Office of the Future”

In its anniversary year, Deutsche Rück has another reason to celebrate: Together with VöV Rück, it has built a new head office. This new building reflects Deutsche Rück’s tremendous success over the past 75 years. It also symbolises the motto of the anniversary year: Shaping history together – yesterday, today and tomorrow.

Shaping History together – yesterday, today and tomorrow