VIG profit before tax rises 31% in Q1–Q3 2025

Financial Performance - Vienna Insurance Group (VIG) reported a profit before tax of €872.8 million for Q1–Q3 2025, marking a 31% increase compared to the same period last year [1] - Insurance service revenue rose by 8.6% to €9.7 billion, driven by growth across all business lines and segments [1] - Gross written premiums (GWP) increased to €12.46 billion, also up 8.6% year-on-year [2] Segment Performance - Health insurance premiums grew by 12.1%, motor third-party liability premiums rose by 11.9%, and life insurance without profit participation increased by 11.8% [2] - The net combined ratio improved to 92.1%, a 2.2 percentage point enhancement from last year's 94.3% [2] Claims and Acquisitions - A significant factor for the improved combined ratio was a reduction in weather-related claims, which were approximately €160 million compared to around €338 million the previous year [3] - In October 2025, VIG announced a voluntary offer to acquire up to 100% of Nürnberger's share capital, with institutional shareholders agreeing to tender shares representing about 64.4% of Nürnberger's share capital prior to the announcement [3] Acquisition Progress - As of November 24, 2025, VIG had secured 11,333,375 shares, accounting for approximately 98.38% of Nürnberger's share capital and voting rights [4] - The completion of the deal is anticipated in the second half of 2026, pending customary conditions and regulatory approval [4] Strategic Outlook - VIG's CEO highlighted 2025 as a remarkable year, expecting an exceptional year-end result and improving the financial outlook for the year [5] - The acquisition of Nürnberger is noted as the largest transaction in VIG's history, aimed at diversifying into the German market and supporting long-term profitable growth in Central and Eastern Europe [6] - Based on the performance in the first three quarters, VIG has revised its full-year pre-tax profit forecast for 2025 to between €1.10 billion and €1.15 billion [6]