UNIQA International
Premiums written (including the savings portions from unit-linked and index-linked life insurance) increased by 9.8 per cent to €3,353.8 million
Insurance service result increased significantly to €293.1 million
Combined ratio (gross) improved from 89.0 per cent to 85.9 per cent
Financial result increased to €83.4 million
Earnings before taxes at €246.4 million
In € million |
2025 |
2024 |
2023 |
|---|---|---|---|
Premiums written, including savings portions from unit-linked and index-linked life insurance |
3,353.8 |
3,054.8 |
2,682.2 |
Cost ratio |
38.1% |
37.8% |
37.6% |
Administrative expense ratio |
14.9% |
15.5% |
15.5% |
Combined ratio (gross before reinsurance) |
85.9% |
89.0% |
85.6% |
Combined ratio (net after reinsurance) |
92.3% |
92.6% |
91.6% |
Earnings before taxes |
246.4 |
214.4 |
229.8 |
In € million |
2025 |
2024 |
2023 |
|---|---|---|---|
Premiums written |
2,408.4 |
2,189.2 |
1,907.9 |
Insurance revenue |
2,313.5 |
2,099.2 |
1,843.3 |
Insurance service expenses |
–1,987.5 |
–1,869.1 |
–1,577.0 |
Reinsurance service result |
–148.4 |
–73.8 |
–112.4 |
Insurance service result |
177.6 |
156.4 |
153.9 |
Financial result |
48.2 |
47.2 |
37.7 |
Net investment income |
79.3 |
83.1 |
63.5 |
Non-technical result |
–83.1 |
–95.9 |
–53.0 |
Cost ratio |
36.1% |
35.9% |
35.6% |
Combined ratio (gross before reinsurance) |
85.9% |
89.0% |
85.6% |
Earnings before taxes |
118.3 |
95.6 |
125.5 |
In € million |
2025 |
2024 |
2023 |
|---|---|---|---|
Premiums written |
134.2 |
124.9 |
110.1 |
Insurance revenue |
136.3 |
131.7 |
115.3 |
Release of the contractual service |
0.3 |
0.6 |
0.5 |
Insurance service expenses |
–121.5 |
–125.5 |
–96.6 |
Reinsurance service result |
–1.0 |
–0.3 |
–0.8 |
Insurance service result |
13.8 |
6.0 |
17.9 |
Financial result |
–0.1 |
–0.1 |
–0.2 |
Net investment income |
0.5 |
0.5 |
0.4 |
Non-technical result |
–5.8 |
–5.2 |
–3.8 |
Cost ratio |
34.8% |
38.3% |
36.3% |
Earnings before taxes |
7.9 |
0.7 |
13.9 |
In € million |
2025 |
2024 |
2023 |
|---|---|---|---|
Premiums written |
811.2 |
740.8 |
664.3 |
Insurance revenue |
604.2 |
524.1 |
471.2 |
Release of the contractual service |
129.4 |
117.6 |
103.4 |
Insurance service expenses |
–495.9 |
–434.3 |
–364.1 |
Reinsurance service result |
–6.5 |
–10.4 |
–9.2 |
Insurance service result |
101.8 |
79.4 |
98.0 |
Financial result |
35.3 |
31.3 |
27.0 |
Net investment income |
49.1 |
49.1 |
43.8 |
Non-technical result |
0.0 |
29.5 |
–12.9 |
Cost ratio |
46.3% |
45.4% |
45.9% |
Earnings before taxes |
120.2 |
118.1 |
90.4 |
Changes in premiums
The premium volume written by UNIQA International increased in 2025 by 9.8 per cent to €3,353.8 million (2024: €3,054.8 million).
Premiums written in property and casualty insurance grew in 2025 by 10.0 per cent to €2,408.4 million (2024: €2,189.2 million). In health insurance, premiums written rose in the reporting period by 7.5 per cent to €134.2 million (2024: €124.9 million) and in life insurance by 9.5 per cent to €811.2 million (2024: €740.8 million).
Premiums written, including savings portions from unit-linked and index-linked life insurance – UNIQA International
In € million
Change in insurance revenue
Insurance revenue in the UNIQA International segment rose in 2025 by 10.9 per cent to €3,054.0 million (2024: €2,755.0 million).
The release of the contractual service margin rose by 5.7 per cent to €137.6 million (2024: €130.2 million).
Insurance revenue in property and casualty insurance grew in 2025 by 10.2 per cent to €2,313.5 million (2024: €2,099.2 million).
In health insurance, insurance revenue rose in the reporting period by 3.4 per cent to €136.3 million (2024: €131.7 million). The release of the contractual service margin decreased here to €0.3 million (2024: €0.6 million).
In life insurance, insurance revenue in the UNIQA International segment grew in 2025 by 15.3 per cent to €604.2 million (2024: €524.1 million). The release of the contractual service margin rose by 10.1 per cent to €129.4 million (2024: €117.6 million).
Change in insurance service expenses
Insurance service expenses in the UNIQA International segment increased in 2025 by 7.2 per cent to €2,604.9 million (2024: €2,428.9 million).
The cost ratio in the UNIQA International segment increased slightly to 38.1 per cent (2024: 37.8 per cent). The administrative cost ratio in 2025 fell to 14.9 per cent (2024: 15.5 per cent).
In property and casualty insurance, insurance service expenses increased by 6.3 per cent to €1,987.5 million (2024: €1,869.1 million). As a result, the cost ratio rose to 36.1 per cent (2024: 35.9 per cent). The combined ratio (gross before reinsurance) decreased to 85.9 per cent (2024: 89.0 per cent).
In health insurance, insurance service expenses fell in 2025 by 3.2 per cent to €121.5 million (2024: €125.5 million). The cost ratio decreased in this area to 34.8 per cent (2024: 38.3 per cent).
In life insurance, insurance service expenses rose by 14.2 per cent to €495.9 million (2024: €434.3 million). The cost ratio in life insurance was 46.3 per cent (2024: 45.4 per cent).
Reinsurance service result
The reinsurance service result in 2025 amounted to €–156.0 million (2024: €–84.4 million).
Insurance service result
The insurance service result in the UNIQA International segment increased in 2025 by 21.3 per cent to €293.1 million (2024: €241.7 million).
Financial result
The net investment income of UNIQA International fell in 2025 to €129.0 million (2024: €132.7 million). The financial result nevertheless increased to €83.4 million (2024: €78.4 million).
Net investment income from unit-linked and index-linked life insurance in 2025 amounted to €100.1 million (2024: €146.9 million).
Non-technical result
The non-technical result in 2025 amounted to €–88.9 million (2024: €–71.6 million). Other income increased by 6.7 per cent to €171.0 million (2024: €160.2 million), while other expenses rose by 12.1 per cent to €259.9 million (2024: €231.8 million).
Earnings before taxes
Operating profit rose in the UNIQA International segment by 15.7 per cent to €287.7 million (2024: €248.6 million). Earnings before taxes increased by 14.9 per cent to €246.4 million (2024: €214.4 million).
In property and casualty insurance, earnings before taxes increased by 23.7 per cent to €118.3 million (2024: €95.6 million); in health insurance, they rose to €7.9 million (2024: €0.7 million). Finally, in life insurance, earnings before taxes grew to €120.2 million (2024: €118.1 million).
Earnings before taxes – UNIQA International
In € million
In the Central Europe (CE) region – Czechia, Hungary, Poland and Slovakia – earnings before taxes increased in 2025 by 13.0 per cent to €216.5 million (2024: €191.6 million). In the Eastern Europe (EE) region – consisting of Romania and Ukraine – they fell to €27.8 million (2024: €34.4 million). In the Southeastern Europe (SEE) region – now comprising Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro and Serbia – earnings before taxes decreased in 2025 to €24.3 million (2024: €26.1 million). The SIGAL Group, which was sold in the second quarter of 2025, is included here on a pro rata basis up to the date of sale. In the Western Europe (WE) region, earnings before taxes amounted to €1.7 million (2024: €–1.0 million).