HDI Global SE has reported its financial results for the first quarter of 2025, showing increases in insurance revenue and earnings. The company cited new business growth and price adjustments linked to inflation as key contributing factors.
Insurance revenue reached €2.6 billion, up from €2.3 billion in the same period last year. Operating profit (EBIT) rose to €195 million, compared to €140 million in the first quarter of 2024. Net income grew to €141 million, from €104 million a year earlier.
The combined ratio stood at 91.1%, compared with 91.8% at the end of the first quarter in 2024. The company noted that, despite a number of large losses during the period, results remained within its expectations.
Dr Edgar Puls (pictured above), CEO of HDI Global SE, said the company had made a promising start to the year and expressed confidence in its outlook for the remainder of 2025.
“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,” Puls said.
Puls noted that the company’s stable performance in the opening months of 2025 had helped establish a foundation to remain a reliable partner to clients and brokers.
HDI Global’s latest results continue a clear trend, with the specialty insurer reporting a full-year insurance revenue of €10.0 billion for 2024, reaching double-digit billions for the first time.
The insurer also recorded a combined ratio of 90.0%, down from 91.5% the previous year. Operating profit (EBIT) rose to €702 million from €446 million and return on equity increased by 3.3 percentage points to 17.6%.
Meanwhile, the company also appointed Phil McDowell as global sales & distribution lead for international programmes and captives. He is responsible for driving the development of the insurer’s global broker relationships and further advancing its international programmes (IP) and captive proposition.
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