Wuestenrot & Wuerttembergische AG

Latest Results (08.12.2025):

Wüstenrot & Württembergische AG — first quarter of 2025 (Q1 2025): the Group delivered a strong start to 2025 with portfolio and new-business growth across most segments, higher insurance revenues under IFRS 17 and a solid technical result despite a weak macro backdrop (German GDP -0.2% y/y in Q1 2025). Management reiterates its full‑year earnings guidance targeting a consolidated net profit significantly above the prior year, subject to no major market or loss shocks.

Key headline figures

Building loan portfolio up 1.3% to €28.8bn (31 Mar 2025); new housing business volume €4,395m (+5.3%); life & health insurance revenue €336m (+6.3%); property/casualty insurance revenue €709m (+4.4%); annual portfolio premium €191m (+8.5%).

New life-business momentum

New life-insurance business (regular + single premiums) rose sharply by 28% to €128m, supporting stronger long‑term premium flows for the Group.

Insurance technical performance

IFRS 17 insurance revenue increased in both segments: life & health (+6.3%) and property/casualty (+4.4%). The absence of storm damage in Q1 helped a very strong technical result in P/C insurance.

Housing segment dynamics

Housing result saw expected decline in net measurement gain/loss versus prior years, while portfolio growth and continued investments (including for a new core banking system) and higher risk provisions impacted results.

Capital and risk position

Reported capital ratios continued to develop solidly; the Group flags potential sensitivity to capital market distortions, economic downturns or large loss events for the remainder of 2025.

Outlook

Full‑year guidance maintained: W&W aims for consolidated net profit significantly above the previous year, conditional on a stable economic and capital markets environment.

Management

Matthias Bogk (47) will become Chief Financial Officer of W&W AG effective 1 July 2025, succeeding Alexander Mayer.