Vaudoise Assurances Holding (VAHN) H1 2025 earnings summary

Executive summary

• Net profit reached CHF 84.1 million for H1 2025, up 3.6% year-over-year.

• Revenue increased by 4.1% to CHF 1,096.7 million, driven by strong non-life insurance growth.

• Non-life insurance premiums rose 7.2%, significantly outpacing the market.

• Life insurance premiums declined 35.5% due to product timing and absence of TrendValor sales.

• Combined ratio for non-life improved to 96.7% from 98.3% year-over-year.

Financial highlights

• Net profit: CHF 84.1 million (+3.6% year-over-year).

• Revenue: CHF 1,096.7 million (+4.1% year-over-year).

• Equity: CHF 2,510.3 million (-1.5% from end-2024).

• Non-life gross written premiums: CHF 1,023.4 million, up from CHF 955.1 million.

• Life gross written premiums: CHF 50.2 million, down from CHF 77.4 million.

Outlook and guidance

• Maintains growth outlook for non-life insurance in 2025.

• Annual claims ratio will depend on natural disasters in H2 2025.

• Strategic focus on complementary activities and consistent asset allocation continues.

• Market volatility and geopolitical instability noted as ongoing challenges.