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 was EUR 560 million, exceeding previous forecasts, 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), and net combined ratio improved to 91.7% (from 93.1%).

• 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, with insurance revenue at EUR 7,115.5 million.

• Technical result surged by nearly 37% to over EUR 711 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.

• Regulatory capital position increased to EUR 275 million, with own funds at EUR 7,308 million and SCR at EUR 2,657 million.

• Admin cost ratio decreased to 15.3%, demonstrating effective cost control despite ongoing IT and AI investments.

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, with focus on strengthening core insurance and accelerating growth in CEE.

• Growth in CE expected to moderate, especially in Poland, but profitability and technical results remain strong across all business lines.

• No direct exposure to Middle East conflict; secondary effects on inflation and capital markets are being monitored.

• Dividend policy remains at 50–60% payout ratio, with progressive DPS.