Vienna Insurance Group (VIG) has reported profit before taxes of €261.1m for the first quarter of 2025 (Q1 2025), an increase of 7.5% compared with last year.  

The growth was primarily driven by strong performances in the Poland and extended central and eastern Europe (CEE) segments, with Romania, Bulgaria and Slovakia contributing significantly to the latter, the insurer said. 

The Austrian insurer’s gross written premiums (GWP) rose by 8.3% year-on-year to €4.6bn. 

This growth was observed across all business segments, with the special markets segment leading with a 25.4% increase, Poland with 13% and the extended CEE with 10.3%. 

Insurance service revenue grew by 8.1% to €3.1bn, with notable increases in the special markets (+38%), extended CEE (+10.7%), Poland (+8.2%), Czech Republic (+7.3%) and Austria (+6%) segments.  

The net combined ratio improved by 0.4 percentage points to 92.3% in Q1 2025. 

The group said its solvency ratio stood at 271% at the end of Q1. 

Based on the results, the insurer’s management confirmed its outlook for the 2025 financial year, targeting a profit before taxes of between €950m and €1bn. 

Commenting on the performance, VIG CEO Hartwig Löger said: “Vienna Insurance Group (VIG) achieved a successful business performance in the first quarter of 2025, with further improvements in key figures.  

“We are thus continuing to deliver growth based on strong capitalisation and are reaffirming our ambition of achieving profit before taxes within a range of €950m and €1bn for 2025.” 

This month, VIG placed a bid to acquire an 80% share in insurance company Moldasig.