A very successful bancassurance business model integrated into Germany's large cooperative banking sector. One of the largest insurance groups in Germany with a broad and diverse product offering in property casualty, life, and health insurance. Very strong competitive position in the retail client and small and midsize enterprise (SME) segment. Prevailing low-interest-rate environment, leading to pressure on investment income. Potential volatility on capital and earnings due to increasing reinsurance exposure. R+V Versicherung AG (RVV) is an integral member of the R+V group (R+V), the key insurance provider for Germany's large cooperative banking sector. The insurance group complements the sector's full financial services by distributing property/casualty (P/C), life, and health insurance products to the cooperative banks' customers. R+V mainly operates in
