Wuestenrot & Wuerttembergische AG

Latest Results (20.08.2026):

Wuestenrot & Wuerttembergische AG — first quarter (Q1) 2025: The Group reported a strong start to 2025 with portfolio and new-business growth across most areas. Building loans rose to €28.8bn (+1.3% year‑on‑year), insurance revenues increased in life & health to €336m (+6.3%) and in property/casualty to €709m (+4.4%), and new life insurance business jumped 28% to €128m. Management describes the quarter’s technical earnings as very strong and is maintaining the full‑year earnings guidance (target: consolidated net profit significantly above prior year), subject to capital‑market and major‑loss risks.

Key volume and portfolio changes

Building loan portfolio expanded to €28,768m (€28.8bn), up 1.3% vs. Q1 2024. New business volume for housing (including brokerage and new home loan savings) rose 5.3% to €4,395m (€4.395bn). Annual portfolio premiums in P/C increased 8.5% to €191m.

Insurance revenue and technical result

Insurance revenue under IFRS 17: life & health €336m (+6.3% y/y) and property/casualty €709m (+4.4% y/y). The report cites a very strong technical result in P/C, helped by the absence of storm damage in Q1 2025 and revenue gains from portfolio growth.

New business trends

New life insurance business (regular + single premiums) increased sharply by 28% to €128m. The housing and P/C segments also achieved notable new-business growth, supporting the Group’s stated goal to expand earnings this year.

Capital position and outlook

Capital ratios are described as continuing to develop solidly. The Group is maintaining its 2025 guidance — aiming for consolidated net profit significantly above the prior year — with caveats for potential capital‑market distortions, economic downturns or major loss events.

Operational factors and risks

The housing segment result reflects an expected decline in net measurement gain/loss versus prior years, ongoing investments ahead of a new core banking system, and higher risk provisions. The macro context noted a mild recession in Germany (GDP -0.2% y/y in Q1 2025) and heightened market uncertainty.

Management change

The Supervisory Board appointed Matthias Bogk (47) as Chief Financial Officer of W&W AG effective 1 July 2025; he succeeds Alexander Mayer.