Half Year 2026 Vienna Insurance Group Wiener Versicherung Gruppe AG Earnings Call Transcript
Key Points
- Gross written premiums grew 5.4% to over EUR9 billion, with strong growth in key markets like Poland (8.3%) and Czechia (8.1%).
- Profit before taxes increased by 20.7%, driven by strong performances in Extended CEE, Austria, and Special Markets segments.
- Net combined ratio improved to 91.4% despite higher NatCat claims activity, reflecting operational efficiency.
- Solvency ratio remains robust at 272% even after including Nürnberger, with a simplified calculation method.
- Successful and fast integration of Nürnberger, with 99.2% of shares acquired and a squeeze-out process initiated.
- Solvency ratio decreased by 24 percentage points to 272% due to the inclusion of Nürnberger, indicating increased capital strain.
- Poland's result before taxes decreased by 12.8% due to technical reserve strengthening, impacting profitability.
- Czechia's combined ratio increased due to higher motor claims frequency and lower reinsurance commissions.
- The CSM release of EUR299 million was not fully offset by new business of EUR252 million, leading to a slight CSM decline.
- The insurance service result from reinsurance contracts held deteriorated significantly year-on-year due to large losses in the second half of 2025.
Ladies and gentlemen, welcome to the VIG results for the first-half year 2026 conference call and live webcast. I am Moritz, the conference call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. (Operator Instructions) For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Peter Höfinger, Deputy CEO. Please go ahead, sir.
Thank you very much. Also from my side, a very warm welcome. Together with me is Liane Hirner, CFRO, and Nina Higatzberger from Investor Relations. We are happy to guide you through our half-year results, which I think are pretty positive and a solid set of figures. We have achieved more than EUR9 billion gross written premiums, which is a growth of 5.4%, achieving a profit of EUR640 million, which is up around 20% to the
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