DEVK Reinsurance Premiums Rise 3.2%, Underwriting Profit Swings to €33M

Growth showed across all lines. Domestic primary non-life insurance premiums rose 9.7% to €2.80 billion. Motor insurance climbed 14.8% to €1.58 billion. Legal expenses insurance added 5.5% to €229 million. Life insurance inclusive of pension funds increased 4.9% to €1.14 billion, and health insurance rose 11.6% to €134 million.

DEVK's non-life underwriting result improved sharply to €143 million from €12 million, driven by a low-claims year. The group transferred €125 million to the equalisation provision, up from €72 million in 2024. After that allocation, the underwriting result stood at €18 million against a €61 million loss the year before.

Life, health, and pension fund results combined with non-life to produce a total underwriting profit of €33 million, reversing a €43 million loss in 2024. Net profit after tax more than doubled to €136 million.

The investment portfolio grew 2.9% to €24.07 billion. Equity rose 6.9% to €3.04 billion from €2.85 billion, which DEVK pointed to as evidence of a strong capital base.

For 2026, DEVK expects premium growth of roughly 4% and a significantly improved consolidated pre-tax profit. The group said it remains on track to hit premium income of around €6 billion this year.