UNIQA Insurance Group (UQA) Q4 2025 earnings summary

Executive summary

• Achieved over 8% revenue growth in 2025, reaching EUR 8.36 billion, with strong contributions from Austria and Central/Eastern Europe (CE/CEE), especially Poland, Hungary, and Ukraine.

• Profit before tax for 2025 reached EUR 560 million, exceeding previous guidance, and consolidated profit rose 22% to EUR 425 million, supported by a favorable 18% tax rate.

• Return on equity improved to 14.3% (from 12.4% in FY24).

• Proposed dividend increase of over 20% to EUR 0.72 per share, reflecting robust earnings and balanced contributions from Austria, international, and reinsurance segments.

• The first year of the 'UNIQA 3.0 - Growing Impact 2025-2028' strategy program exceeded original forecasts.

Financial highlights

• Gross written premiums reached EUR 8,355 million, up 8.2% year-over-year.

• Combined ratio improved to 91.7% after reinsurance, aided by lower NatCat claims and disciplined underwriting.

• Technical result surged by nearly 37% to over EUR 700 million; financial result remained stable, with new investment yield at 4.5% and average yield at 3.2%.

• Net investment income increased 6.5% to EUR 799 million.

• Solvency II own funds: EUR 7,308 million; SCR: EUR 2,657 million; regulatory capital ratio at 275%.

Outlook and guidance

• Target EBT for 2026 set between EUR 540 million and EUR 570 million, with continued dividend payout ratio of 50–60%.

• Premium growth in 2026 expected to exceed GDP in core markets.

• Growth in CE/CEE expected to moderate, especially in Poland, but profitability remains strong across all business lines.

• Combined ratios expected to remain below 93% in coming years.

• Focus remains on strengthening core insurance, increasing profitability in Austria, and accelerating growth in CEE.