Vienna Insurance Group reports a record 2025 pre-tax profit of €1.161 billion, up about 32% from prior estimates, driven by premium growth in Poland and Central and Eastern Europe.

Profit growth outpaced premium growth, with Poland leading gains (~62.5%), Extended CEE (~48.1%), the Czech Republic (~35.3%), and Austria (~29.3%), while health, life, and motor lines also contributed.

Net profit after tax rose to €834.9 million as earnings before tax surpassed €1.0 billion for the year.

The closing of the Nürnbergberger deal is targeted for the start of the second half of 2026, subject to regulatory approvals.

Analysts from Erste Group reiterate a buy rating, arguing the current share price underestimates future earnings growth.

VIG launches evolve28, a three-year strategy aiming for 2028 goals including GWP of at least €20 billion, PBT of at least €1.5 billion, net combined ratio at most 91%, ROE at least 17%, and solvency around 150–200%. Plus five group-wide programs, including AI initiatives.

Profitability improved with a net combined ratio of 90.1% and disciplined cost control, helped by lower catastrophe-related costs.

Market reaction was muted, with VIG trading near €59.50 and about 13% below its 52-week high as investors price in the Nürnbergberger milestone.

Total premiums written reached €16.3 billion, underpinning the planned dividend increase and the group's growth prospects.

Dividend is proposed to rise by 12% to €1.73 per share, supported by strong results and capital strength, with the Nürnbergberger acquisition expected to further boost profitability.

The higher dividend is intended to be funded alongside the Nürnbergberger deal, signaling a stable distribution policy.

Nürnberger acquisition nearing completion: VIG has secured over 99% of shares, with closing expected in early H2 2026 to deepen diversification and growth.