Vienna Insurance Group (VIG) has reported a remarkable set of results for the first three quarters of 2025, with profit before tax rising by 31% to €872.8 million. The increase has been primarily driven by strong performance in Special Markets, as well as in Poland, the Czech Republic and Austria.
The company highlighted that a significant improvement in the combined ratio, which stood at 92.1% at the end of Q3 2025, and a growth in business volume were key contributors to the profit rise. This represents a notable improvement from the previous year’s ratio of 94.3%, a difference of 2.2 percentage points.
Lower weather-related claims also played a critical role in boosting profitability. While 2024 saw claims of approximately €338 million, 2025 recorded just €160 million in such claims, reflecting both favourable conditions and effective risk management.
As a result of these strong figures, VIG has raised its projected range for the group’s profit before tax for 2025 to €1.10–1.15 billion, in line with announcements made last week.
VIG’s gross written premiums grew by 8.6% year on year, reaching €12,463.3 million, supported by increases across all lines of business. Premium growth was particularly strong in health insurance (12.1%), motor third-party liability (11.9%) and life insurance without profit participation (11.8%).
| Line of Business | Premium Growth (%) |
|---|---|
| Health Insurance | 12.1% |
| Motor Third-Party Liability | 11.9% |
| Life Insurance (without profit participation) | 11.8% |
Segment-wise performance also remained robust. Special Markets, particularly in Turkey and Poland, posted double-digit growth of 18.4% and 13.5% respectively. In the Extended CEE segment, premiums increased by 9.4%, with Ukraine demonstrating exceptional growth of 36.7%.
Insurance service revenue rose by 8.6% to €9,720.3 million, with all business lines and segments reporting strong performance. Special Markets growth was largely driven by Turkey (+31.6%), while the Extended CEE segment rose by 8.6%, with the Baltic States, Slovakia, Romania, Bulgaria, Hungary, Ukraine and Serbia all contributing to the gains.
VIG also highlighted that its solvency ratio at the end of Q3 2025 was an excellent 285.7%, including transitional measures, demonstrating its strong financial resilience. The company expects continued growth with the planned acquisition of NÜRNBERGER Beteiligungs-AG, the largest transaction in the group’s history.
VIG CEO Hartwig Löger commented, “2025 has been a remarkable year for VIG. We are anticipating an exceptional year-end result, which has allowed us to improve our outlook for the full financial year. The planned acquisition of Nürnberger will support our long-term profitable growth strategy in CEE while establishing Nürnberger as a leading provider of biometric solutions within the group.”