Glossary

Rating

A rating is an evaluation on a scale of the creditworthiness of a debtor (countries, companies, etc.) often carried out by a specialised rating agency. Also see Standard & Poor's.

Reinsurance

Reinsurance is when an insurance company insures a portion of its risk with another insurance company.

Retained Earnings

Retained earnings are the profits generated by the company that have not been distributed as dividends.

Return on equity

RoE measures the profitability of the Group by expressing the result before taxes as a ratio of the capital employed. This ratio is calculated by dividing the result before taxes and non-controlling interests by the average shareholders’ equity. Shareholders’ equity adjusted for a provision for unrealised gains and losses is used for this purpose.

Return on Equity

Die Kennzahl RoE zeigt die Profitabilität des Konzerns, indem sie das Ergebnis vor Steuern im Verhältnis zum eingesetzten Kapital misst. Zur Berechnung dieser Kennzahl wird das Ergebnis vor Steuern und nicht beherrschenden Anteilen ins Verhältnis zum durchschnittlichen Eigenkapital gesetzt. Hierzu wird ein um die Rücklage für Nicht realisierte Gewinne und Verluste angepasstes Eigenkapital verwendet.

RoE

RoE measures the profitability of the Group by expressing the result before taxes as a ratio of the capital employed. This ratio is calculated by dividing the result before taxes and non-controlling interests by the average shareholders’ equity. Shareholders’ equity adjusted for a provision for unrealised gains and losses is used for this purpose.