Wuestenrot & Wuerttembergische (WUW) Q1 2026 earnings summary

Executive summary

• German GDP grew by 0.3% in Q1 2026, with consumption driving growth amid geopolitical uncertainty and higher energy prices.

• Group portfolio expanded across all segments, despite varied new business performance.

• Earnings performance at the start of the year supports the goal of increasing consolidated profit under IFRS and HGB.

Financial highlights

• Construction loan portfolio increased by 1.1% to €30.4 billion compared to Q1 2025.

• Insurance revenue rose 3.6% in personal insurance (€348 million) and 6.5% in property/casualty insurance (€755 million) year-over-year.

• Total premiums in new life insurance business up 6.6% to €948 million year-over-year.

• New business volume in housing segment declined by 11% to €3.91 billion year-over-year.

• Annual portfolio premium in property/casualty insurance decreased by 1.6% to €186 million.

Outlook and guidance

• Earnings forecast for 2026 maintained, targeting consolidated net income (IFRS) between €120 million and €150 million.

• Forecast contingent on absence of capital market disruptions, economic downturns, or major loss events.