Gartenbau-Versicherung recalls a good financial year

At the General Assembly, the Gartenbau-Versicherung (GV) announced the results for the 2020 financial year. It was possible to generate a total of eight million euros in annual profits through moderate premium growth and claims, which flow into reserves.

Eight million euros flow to reserves

What was achieved in 2020 was an extraordinary annual result. Thanks to the significant growth in premiums and the moderation of claims, a total annual surplus of eight million euros can flow into reserves. “We are pleased to note the very good result, but also with a certain degree of humility,” Chairman of the Board Manfred Klunke said at this year’s general meeting. It was a special year with many challenges, emphasized the General Manager. “That is why our goal from the beginning was to provide our members with the greatest possible security during the crisis, through clear and fast communication, through non-bureaucratic help such as the deferral of contributions, but also through the responsible interpretation of the insurance conditions. Whenever possible, cases of benefit were decided in favor of the members and, at the same time, of course, always acted in the interest of the entire caring community and on a legally secure basis.

Fewer claims and significant premium growth

Overall, despite Corona, the damage was only mid-range. There have been fewer natural events, for example, claims in the largest hail insurance business fell from 41.9 percent a year earlier to 17.8 percent. The second largest branch is Storm, which also fell from 63.7 percent to 48.5 percent. Overall, GV insurance benefits amounted to 36.6 million euros, 3.5 million euros more than the previous year. On the other hand, there was a significant increase in premiums, which grew by 5.7 percent to 93.8 million euros, which represents a net profit of 8 million euros for the year. “Each euro that enters our reserves is important. Because it underpins our claim to offer horticulture reliable and affordable protection, even in the face of ever-increasing extreme weather conditions and growing technical risks,” explained Chief Risk and Finance Officer Dr. Dietmar Kohlruss. The full annual report of the AGM can be downloaded from this link.

Tobias Müller new to the Supervisory Board

After the members of the Board of Directors and the Supervisory Board unanimously approved their actions for the 2020 financial year, the election was still pending. Michael J. Baumeister has left the Supervisory Board after nearly 50 years of service. At the 2012 AGM, Baumeister moved from the role of CEO to the supervisory board and is now retiring. His successor is the 39-year-old management consultant and insurance salesman Tobias Müller, who was elected by the general meeting. Müller has already acted as an advisor to GV on various projects and brings with him a deep understanding of the insurance industry. involved in his work on the board of directors. Supervisory Board Chairman Frank Werner was pleased with the election of the representative assembly of members and warmly welcomed Müller to the committee.

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