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Vienna Insurance Group
Vienna Insurance Group (VIG) investor relations material
Vienna Insurance Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Mar, 2026
Executive summary
Achieved record profit before taxes, surpassing €1.16 billion for the first time, with strong top-line and earnings growth driven by core markets in Central and Eastern Europe.
Completed successful public purchase offer for NÜRNBERGER, securing 99.2% of share capital; closing expected in H2 2026.
Launched new Group strategy 'evolve28' with quantitative targets for 2028.
S&P affirmed A+ rating and upgraded outlook to positive.
Share price rose 121.4% to €67.20 at year-end 2025, marking an all-time high.
Financial highlights
Gross written premium rose 7.1% year-over-year to €16.3 billion; insurance service revenue up 8.7% to €13.2 billion.
Profit before taxes increased by 31.7% to €1.16 billion; net combined ratio improved by 3.3 percentage points to 90.1%.
Solvency ratio reached 296% at year-end 2025; operating ROE climbed to 18.7%, a 2.5 percentage point increase.
Dividend proposal of €1.73 per share, up 12% from €1.55, with EPS at €6.46.
Investments held at own risk increased 4.3% to €38 billion.
Outlook and guidance
2026 profit before taxes targeted at €1.25–1.3 billion, excluding NÜRNBERGER; 2028 targets: >€20 billion gross written premiums, ≥€1.5 billion profit before taxes, combined ratio ≤91%, operating ROE ≥17%, solvency ratio 150–200%.
Growth expected to be supported by favorable macroeconomic trends in CEE, with GDP growth forecasts outpacing EU and Western Europe averages.
Nürnberger acquisition impact on 2028 targets
Plan to align solvency with 2028 target range
Drivers of the 15.5% health revenue growth
NURNBERGER acquisition timeline and impact
Rationale for the sub-30% dividend payout
NatCat impact on 2025 combined ratio
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Latest events from Vienna Insurance Group
- Strong H1 growth, improved combined ratio, and profit expected at upper end of guidance.VIG
H1 202423 Jan 2026 - Premiums and profit rose strongly, with guidance confirmed at the upper end and solvency at 259%.VIGQ3 202412 Jan 2026
- Double-digit premium and profit growth, strong CEE performance, and positive 2025 outlook.VIGQ4 20242 Dec 2025
- Profit up 31%, outlook raised, and 98.38% of Nürnberger acquired for strategic growth.VIGQ3 202525 Nov 2025
- Q1 2025 delivered 8.1% revenue and 7.5% profit growth, with robust capital and M&A activity.VIGQ1 202524 Nov 2025
- Premiums up 8.7%, profit before tax up 10.5%, and combined ratio improved to 91.9%.VIGQ2 202523 Nov 2025
Next Vienna Insurance Group earnings date
Q1 202628 May, 2026
Vienna Insurance Group
Next Vienna Insurance Group earnings date
Q1 202628 May, 2026
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Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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