HDI Global posts improved CoR of 91.1% in Q1’25

HDI Global, a commercial and specialty lines insurer, reported an improved combined ratio of 91.1% for the first quarter of 2025, compared to 91.8% in the same period last year.
The net insurance financial and investment result before currency effects rose slightly to EUR 49 million in Q1’25, compared to EUR 47 million in Q1’24.

Insurance revenue increased by 10% (9% adjusted for currency effects) to EUR 2.6 billion, up from EUR 2.3 billion a year earlier, driven in part by new business and inflation-related price adjustments to the existing portfolio.

HDI Global’s insurance service result rose 19% year over year to EUR 229 million, up from EUR 192 million, primarily due to an improved frequency loss ratio.

Large loss payments climbed to EUR 105 million, from EUR 17 million in the prior-year quarter, but undershot the pro rata budget for the period by EUR 21 million.
Operating profit increased to EUR 195 million, up from EUR 140 million, while net income rose to EUR 141 million, compared to EUR 104 million in Q1’24.

Dr Edgar Puls, CEO of HDI Global SE, commented, “Despite a significant number of large losses, we have made a promising start into 2025 and are confident for the remainder of the year.

“If you look at the wildfires in California, the first quarter clearly underpinned the increased severity of natural catastrophes and once again highlighted the importance of prevention to mitigate the consequences of these events for companies and societies alike.

“As a Partner in Transformation, we offer tailor-made insurance solutions and innovative services to show companies how to deal with climate change and the increasing risk of natural catastrophes, like extreme weather events, rising temperatures, and more frequent heavy rainfall. In 2024, we launched Climate Consulting, an innovative service that not only analyses a company’s risk exposure but also offers actionable recommendations that enhance climate resilience.

“We as HDI Global can play a pivotal role in making companies more resilient. To be able to fulfil our role as the Partner in Transformation for industries worldwide, we need to be financially strong and resilient. The recent upgrade to AA- (very strong) by S&P ratings underlines this.

“With our stable performance in 2025 to date, we laid the foundation to be a reliable partner for our clients and broker partners. I want to thank our more than 5,000 employees for that. Thank you as well to our broker partners and clients for your continued trust”, said Puls.

Source: reinsurancene.ws