Vienna Insurance Group (VIG) has reported increases across all key figures in results for the first three quarters of 2025, with profit before taxes increasing by 31% to €872.8 million, driven by Special Markets, Poland, the Czech Republic and Austria.
This has resulted in VIG raising its expected range for the group’s result before taxes in 2025 to €1.10–1.15 billion in line with last week’s announcement.
The combined ratio was significantly below the previous year’s result of 94.3% by 2.2 percentage points.
VIG attributes this to lower weather-related claims of around €160 million, compared to 2024’s claims of around €338 million.
VIG’s gross written premiums increased by 8.6% to €12,463.3 million year on year, driven by an increase in premiums across all lines of business and segments.
The highest premium increases were achieved in health insurance of 12.1%, followed by motor third-party liability at 11.9%, and life insurance without profit participation of 11.8%.
Segment-wise, Special Markets, especially in Türkiye and Poland, posted double-digit growth of 18.4% and 13.5% respectively. In the Extended CEE segment, there was a 9.4% increase, with Ukraine performing particularly well, as premiums grew 36.7%.
Meanwhile, insurance service revenue increased by 8.6% to €9,720.3 million, with all lines of business and segments demonstrating clear growth, according to VIG.
Türkiye drove the growth in Special Markets by 31.6% while the Extended CEE segment rose by 8.6%, where there was a “very robust” growth in the Baltic States, Slovakia, Romania, Bulgaria, Hungary, Ukraine and Serbia.
Poland grew by 6.9% and the Czech Republic by 7.3% as there were positive developments in property, life and health insurance. Austria’s rose by 5.8% mainly due to property and health insurance.
VIG explained that at the end of Q3 2025, its solvency ratio was at an excellent 285.7% (including transitional measures), reflecting its economic resilience.
The group expects continued growth with the planned acquisition of NÜRNBERGER Beteiligungs-AG.
Hartwig Löger, Chief Executive Officer, VIG, commented, “2025 has been a remarkable year for VIG in several respects. Firstly, we are expecting an exceptional year-end result, which has enabled us to improve our outlook for the financial year.
“Secondly, the planned acquisition of Nürnberger is the largest transaction in the history of our Group. The aim of diversifying through the special market Germany is to support VIG’s long-term profitable growth strategy in CEE while positioning Nürnberger also as a leading provider of biometric solutions within the Group.
“With its strong and well-established brand and its entrepreneurial culture, Nürnberger also clearly embodies VIG’s values and strategic ambitions.”
About the Author
