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Investing.com -- Vienna Insurance Group (VIE:VIGR) on Tuesday reported an 8.3% increase in gross written premiums to €4.65 billion for the first quarter of 2025, with growth across all business segments.
Insurance service revenue rose 8.1% to €3.14 billion in the January to March period, supported by gains in every major region.
The strongest growth was recorded in the Special Markets segment, which rose 38%, followed by Extended Central and Eastern Europe with a 10.7% increase, Poland with 8.2%, the Czech Republic at 7.3% and Austria at 6%.
Profit before taxes rose 7.5% to €261.1 million. The company said the Poland and Extended CEE segments were the main contributors to the increase.
In the Extended CEE segment, Romania, Bulgaria and Slovakia accounted for most of the improvement. The group’s net combined ratio, a key measure of underwriting profitability, improved by 0.4 percentage points to 92.3%.
Vienna Insurance Group attributed the change to efforts aimed at improving the claims ratio and a reduced impact from natural disasters.
The solvency ratio stood at 271% at the end of the quarter, including transitional measures. The company described the level as excellent and said it reflects continued capital strength.
Chief executive Hartwig Löger said in a statement that the insurer is maintaining its full-year target for profit before taxes between €950 million and €1 billion.