Half Year 2025 Vienna Insurance Group Wiener Versicherung Gruppe AG Earnings Call Transcript
Key Points
- Vienna Insurance Group AG (VNRFY) reported a strong half-year performance with a gross written premium growth of 8.7% to EUR869 million.
- The company achieved a profit before tax of EUR531 million, marking a 10.5% increase.
- The net combined ratio improved to 91.9%, supported by lower weather-related claims and a better cost ratio.
- Insurance service revenues increased by 8.1% to EUR6.396 billion.
- The operating return on equity reached 18.9%, with earnings per share up 10% to EUR5.92.
- Vienna Insurance Group AG (VNRFY) faced a goodwill impairment in Hungary amounting to EUR72.8 million.
- The additional premium tax in Hungary has been prolonged until 2026, with further governmental initiatives possible.
- The new business margin in Life & Health dropped slightly to 8.9% from 10% at year-end.
- The combined ratio in special markets deteriorated by 5 percentage points due to a one-off effect and negative developments in motor and other property.
- In Turkey, despite strong top-line growth, profit growth was challenged by high inflation and currency devaluation.
Ladies and gentlemen, welcome to the VIG Results for the First Half Year 2025 Conference Call and Live Webcast. I'm Matilda, the Chorus Call operator. (Operator Instructions) And the conference is being recorded. (Operator Instructions)
At this time, it's my pleasure to hand over to Peter Hofinger, Deputy CEO of VIG. Please go ahead.
Good afternoon to our half year presentation, and thank you for joining us. We are happy to present you today strong half year results. We have achieved a gross written premiums of EUR869 million premiums, which is a growth of 8.7%. Insurance service revenues of EUR6,396 billion, which is an increase of 8.1% and profit before tax of EUR531 million with a 10.5% growth. Our net combined ratio of 91.9% and earnings per share up 10% to EUR5.92, which resulted in an operating return on equity of 18.9%.
On the next slide, I'm happy to guide you through our main events which we had in the
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