Wuestenrot & Wuerttembergische (WUW) Q2 2025 earnings summary

Executive summary

• Achieved a consolidated net profit of €91 million in H1 2025, a significant turnaround from a €14 million loss in H1 2024, with earnings per share at €0.96 versus -€0.15 year-over-year.

• Total comprehensive income reached €123 million, up from a €51 million loss in the prior year period.

• All major business segments reported growth in new business volumes and technical results, especially Property/Casualty Insurance, which saw a marked improvement due to premium adjustments and absence of major storm events.

Financial highlights

• Total assets increased to €72.8 billion from €72.3 billion at year-end 2024.

• Capital investments stood at €39.3 billion, slightly down from €39.9 billion.

• Technical provisions decreased to €31.8 billion from €32.3 billion.

• Equity rose to €5.0 billion, with equity per share at €52.86, up from €52.29.

• Net financial income dropped to €91 million from €250 million, mainly due to lower measurement results and currency losses.

• Technical result improved sharply to €241 million from a €44 million loss.

Outlook and guidance

• Forecasts consolidated net profit for 2025 to be significantly above the previous year.

• Expects strong growth in construction financing new business, but net new business in building society savings may not meet ambitious targets.

• Life and Health Insurance segment result expected to be significantly below prior year due to tax changes; Property/Casualty Insurance segment result expected to increase.

• Forecasts are subject to macroeconomic, inflation, capital market, and claims developments.