REVO Insurance (REVO) H1 2025 earnings summary

Executive summary

• New board of directors appointed and 2026–2028 Business Plan "THE TECHUMAN ERA" presented, marking 2025 as a transition year focused on operational foundation building and digital transformation.

• Gross written premiums rose 31% year-over-year to €200.5 million, with significant expansion in specialty, parametric, Commercial Credit, and Energy lines.

• Adjusted operating profit increased to €25.8 million, adjusted net profit reached €15 million, and net profit was €11.3 million, all up from the prior year.

• Solvency II ratio remained robust at 245.2% as of June 30, 2025, reflecting strong capital adequacy.

• Continued technology investments in OverX platform, AI applications, and staff growth, with ESG strategy and diversity initiatives integrated into the business plan.

Financial highlights

• Gross written premiums for H1 2025 reached €200.5 million, up 31% year-over-year.

• Insurance revenues rose to €135.2 million, a 28.6% increase compared to H1 2024.

• Adjusted operating profit grew 53.8% to €25.8 million; adjusted net profit up 33.8% to €15 million; net profit increased 20.9% to €11.3 million.

• Combined ratio improved to 83.2%, below the 85% long-term target.

• Investment income increased to €3.8 million, benefiting from higher coupon interest and portfolio diversification.

Outlook and guidance

• 2025 guidance confirmed, with results aligned or slightly ahead of targets; cautious optimism for potential outperformance depending on H2 developments.

• Operating growth continues in line with the 2026–2028 Business Plan, focusing on digital transformation, AI, and product expansion.

• Broker channel expected to reach 400 collaborations by year-end, supporting future distribution network development.

• Growth expected in Spain, especially in surety, as local underwriting practices are aligned with Italian standards.