Vienna Insurance Group has reported significant growth in premiums and profits for 2024, with expectations of continued positive performance this year.
Gross written premiums reached EUR15.2 billion, an increase of 10.5% from a year earlier, while insurance service revenue rose by 11.1% to EUR12.1 billion.
Profit before taxes grew by 14.1% to EUR881.8 million, while the net combined ratio stood at 93.4%. The solvency ratio was 261%.
The proposed dividend is EUR1.55 per share, representing a 10.7% increase from the previous year. The dividend yield is 5.1%.
So how do these financials compare to recent predictions? In November 2024, Vienna Insurance Group reported continued business growth for the first nine months of 2024, with increases across key financial metrics.
Gross written premiums rose 8% to EUR11.5 billion, while insurance service revenue grew by 9.3% to EUR9.0 billion. Profit before taxes reached EUR666.5 million, up 8.5% from a year earlier.
Meanwhile, the property and casualty net combined ratio remained unchanged from the previous year at 94.3%, despite adverse weather conditions. The company’s solvency ratio stood at 259%.
Profit before taxes for the year was expected to reach the upper end of the planned range of EUR825 million to EUR875 million. Despite economic and geopolitical volatility, the company said it remained on track to achieve its financial targets.
Vienna Insurance Group said it has navigated geopolitical and economic challenges effectively and remains well positioned.
The group’s diversification across markets and business lines, along with its focus on customer needs and capital strength, is supporting its continued growth strategy, it said. The managing board said it aims to achieve a profit before taxes of between EUR950 million and EUR1 billion for the 2025 financial year.
CEO Hartwig Löger highlighted the company’s ongoing growth and profitability. “We are maintaining our successful course, which is derived from the diversification of our group, because both the growth in premiums and the profit result from all segments and lines of business,” he said.
