Vienna Insurance Group (VIG) has reported profit before tax of €872.8m from the first quarter to the third quarter of 2025 (Q1–Q3 2025), an increase of 31% compared to the same period last year.
The result was supported by improved combined ratios and business volume, particularly in the Special Markets, Poland, Czech Republic and Austria segments.
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Insurance service revenue during the period rose by 8.6% to €9.7bn due to growth across all lines of business and segments during this time frame.
The insurer’s gross written premiums (GWP) for the reporting period grew to €12.46bn, up 8.6% year-on-year (YoY).
Health insurance premiums increased by 12.1%, motor third-party liability premiums rose by 11.9% and life insurance without profit participation grew by 11.8%.
The net combined ratio at the close of Q3 2025 was reported at 92.1%, an improvement of 2.2 percentage points compared to last year’s result of 94.3%.
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By GlobalDataA key reason for this improvement was lower weather-related claims, which were approximately €160m in the reporting period versus around €338m the previous year.
In October 2025, following a business combination agreement with Nürnberger, VIG published a voluntary offer to acquire up to 100% of Nürnberger’s share capital.
Before this announcement, institutional shareholders at Nürnberger had agreed to tender shares representing around 64.4% of its share capital.
As of 24 November 2025, subject to confirmation, VIG had secured 11,333,375 shares, including those already held or otherwise obtained, accounting for around 98.38% of Nürnberger’s share capital and voting rights.
The deal is set for completion by second half of 2026, subject to customary conditions and regulatory approval.
VIG CEO Hartwig Löger said: “2025 has been a remarkable year for VIG in several respects. Firstly, we are expecting an exceptional year-end result, which has enabled us to improve our outlook for the financial year.
“Secondly, the planned acquisition of Nürnberger is the largest transaction in the history of our Group. The aim of diversifying through the special market Germany is to support VIG’s long-term profitable growth strategy in CEE [central and eastern Europe] while positioning Nürnberger also as a leading provider of biometric solutions within the Group.”
Based on performance in the first three quarters, VIG has revised upwards its full-year pre-tax profit forecast for 2025 to between €1.10bn and €1.15bn.
