During the meeting of member representatives of Gartenbau-Versicherung VVaG (GV) on 7 July 2020 in Wiesbaden, the GV Management Board reported on 2019 events, which was the 173rd financial year of the company, and provided insights into the corporate plans.
Both in Germany and abroad, the business of Gartenbau-Versicherung again developed very well in 2019. Growth in Germany was quite positive, despite the difficult market environment - not least due to the increasingly evident weakness of the German economy in the course of the year. In the foreign markets expectations were exceeded, in some cases by a considerable margin. The claims situation in the overall business was marked by individual loss events which led to a slightly higher claims ratio than in the previous year. All in all, the financial year was closed with a net profit after tax of €5 million, which was allocated to security funds. The gross combined ratio of the overall business amounted to 82.8 (80.3) %, thus being below the ten-year average. It represents the ratio of claims expenditure and operating expenses to premium income and should be below 100%.
Just a few weeks after the start of tge new financial year 2020, the world was faced with completely new challenges due to the spreading corona pandemic. As in many sectors, the liquidity of the companies in the horticultural sector had to be ensured. Here, the GV helped its members by immediately and unbureaucratically deferring the contributions. The extent to which this crisis will have a long-term effect on horticulture and also on the GV as insurer cannot be foreseen at present. GV is continuing to work on its strategic objectives even in these difficult times. These include, among other things, the premium-free insurance cover against drought damage to crops to be irrigated, which was introduced on 1 July, the cyber protection insurance planned for 2020 and the further expansion of the company's European foreign business.
Annual Report 2019 approved
As is customary, the approved annual financial statements with the reports of the Management Board and the Supervisory Board for the 2019 financial year were accepted at the meeting of members' representatives. The General Meeting unanimously approved the actions of the Board of Management and the Supervisory Board.
Discharge of the Executive and Supervisory Boards of GV by the Members' Representatives © GV
Changes in the Supervisory Board
After 21 years on the Supervisory Board of Gartenbau-Versicherung, Mrs. Marlies Baetcke, Issum (Lower Rhine) did not stand for a new term of office. In her office as a member of the Supervisory Board, Ms Baetcke has actively supported the company for many years as an expert in the Azerca sector. Prior to this, she was a member representative of the company for three years.
Farewell of Marlies Baetcke from the GV Supervisory Board: Frank Werner, Chairman of the Supervisory Board, thanked Mrs Baetcke on behalf of the company for her many years of service on the Gartenbau-Versicherung committees. ©GV
She was succeeded by Mrs Beate Schönges, from Korschenbroich (also Lower Rhine), who was unanimously elected at this year's meeting of member representatives. Mrs. Schönges is an experienced horticultural entrepreneur, whose company is particularly active in the area of young plants and the production of flowering pot plants.
Beate Schönges - new on the Gartenbau-Versicherung supervisory board © GV
For more information:www.gevau.de