Vienna Insurance Group Reports strong growth in the first quarter of 2025
• Gross written premiums increased to EUR 4.65 billion (+8.3%)
• Insurance service revenue grew to EUR 3.14 billion (+8.1%)
• Profit before taxes rose to EUR 261.1 million (+7.5%)
• Net combined ratio improved to 92.3% (-0.4 percentage points)
• Excellent solvency ratio of 271%
Vienna Insurance Group (VIG) achieved a successful business performance in the first quarter of 2025, with further improvements in key figures. We are thus continuing to deliver growth based on strong capitalisation and are reaffirming our ambition of achieving profit before taxes within a range of EUR 950 million and EUR 1 billion for 2025.
Premium increase across all lines of business
Gross written premiums increased by 8.3% to EUR 4,655 million in the reporting period. Premiums increased across all lines of business. The highest growth rates were reported in the Special Markets (+25.4%), Poland (+13%) and Extended CEE (+10.3%) segments, with Romania, the Baltic states, Slovakia and Hungary driving growth the most.
Insurance service revenue grew considerably
Insurance service revenue increased by 8.1% to EUR 3,139 million. Growth was recorded in all lines of business and in the Special Markets (+38%), Extended CEE (+10.7%), Poland (+8.2%), Czech Republic (+7.3%) and Austria (+6%) segments.
Increase in profit before taxes
At EUR 261.1 million, profit before taxes was 7.5% higher than in the same period of the previous year. The increased profit was driven primarily by the Poland and Extended CEE segments. In the Extended CEE segment, the increase stems primarily from Romania, Bulgaria and Slovakia.
Net combined ratio improved
The net combined ratio improved by 0.4 percentage points to 92.3% in the first quarter of 2025. This is due to a wide range of measures to improve the claims ratio and a lower impact from natural disasters.
High solvency ratio
The Group’s solvency ratio at the end of the first quarter of 2025 was at an excellent level of 271% (including transitional measures). This figure further consolidates the Group’s strong capital position.
Outlook confirmed
On the basis of the strong performance in the first quarter of 2025, the Vienna Insurance Group management team is confirming its ambition of achieving profit before taxes within a range of EUR 950 million and EUR 1 billion for the financial year 2025.
The Extended CEE segment includes the following countries: Albania, including Kosovo, the Baltic states, Bosnia-Herzegovina, Bulgaria, Croatia, Hungary, Moldova, North Macedonia, Romania, Serbia, Slovakia and Ukraine.
The Special Markets segment includes the following countries: Germany, Georgia, Liechtenstein and Türkiye.
