Press information

Kornwestheim, 27 March 2026

W&W Group significantly increases earnings in 2025
 

• IFRS consolidated net income more than tripled – net income under HGB rises again.
• Strong new business – market share gained.
• Significant growth, particularly in the motor vehicle and corporate customer busiess.
• CEO Junker: „Gaining a competitive edge through customer proximity and efficiency – we welcome AI and see it as an opportunity, not a threat.“

The Wüstenrot & Württembergische Group (W&W) significantly increased its net income in 2025. Consolidated net income under IFRS more than tripled to €121 million (previous year: €35 million). W&W AG's net income under HGB rose to €146 million (previous year: €135 million). Thanks to strong growth in new business, the Group was able to further expand its market position. Market shares rose. A constant dividend of 65 euro cents per share will be proposed to the Annual General Meeting.

Jürgen A. Junker, CEO of the W&W Group: „We achieved a clearly strong result in 2025. This means that, following the year 2024, which was marked by severe weather events, we are back on track toward sustainability. Every day, we prove how strong and operationally successful our Group is. We have made significant progress in our business and with our customers in recent years. This is particularly evident in our success in new business. The W&W Group is in a good position, and we still have a lot of potential that we will leverage. Our goal is to extend our lead over the competition where we already have one and to establish one where we do not yet have one. To this end, we are focusing on compelling products, an uncompromising focus on customer needs, efficiency in all areas and the targeted, yet responsible use of technology, especially AI. We welcome AI and see it as an opportunity, not a threat. To this end, the W&W Group is launching a comprehensive training initiative to familiarise employees with the possibilities offered by this new technology.“

Divisions continue to grow

The property/casualty insurance segment of Württembergische Versicherung continues to deliver strong earnings and growth. With a combined ratio (gross) of 86.2 per cent (previous year: 102.7 per cent), the division once again achieved encouraging growth in new and replacement business in 2025, reaching €472 million (previous year: €436 million). This represents a significant increase of 8.3 per cent in annual contribution to the portfolio compared with the previous year. All three segments contributed to this growth: motor insurance (up 9.8 per cent), private customers (up 9.1 per cent) and corporate customers (up 3.8 per cent).

In life insurance, the expansion of the market position seen in recent years continued. Total premiums from new business rose by 13.7 per cent to €3.69 billion. In company pension scheme, total premiums also exceeded the previous year's figure (€1.1 billion), reaching around €1.2 billion. New business in life insurance, consisting of regular premiums and single premiums, grew by 15.6 per cent to €535 million.

Württembergische Krankenversicherung remained on course for growth in 2025, increasing its annual new premiums by 8.6 per cent to €12.6 million, mainly thanks to dynamic demand in company health insurance.

In the Housing division, new business volume developed positively with immediate financing, modernisation and equity accumulation (total of gross new business and new lending business volume including third-party brokered business), recording growth of 5.2 per cent compared with 2024 to €16.49 billion (previous year: €15.68 billion). The volume of new lending rose to €5.4 billion (previous year: €4.7 billion). Wüstenrot thus once again consolidated its market position, which it had significantly expanded in previous years.

In 2025, Wüstenrot Bausparkasse recorded gross new business based on total home loan savings contracts of €11.07 billion (previous year: €10.99 billion). Wüstenrot was thus able to increase its home savings volume despite the market trend and significantly expand its market share to just under 18 percent. At the end of 2025, the building loan portfolio stood at €30.1 billion, around 6 per cent above the previous year's figure of €28.4 billion. Building savings remains an attractive and indispensable financial product for building equity and locking in interest rates.

W&W Group on a stable footing

The W&W Group has total assets of €72.5 billion (previous year: €72.3 billion). At the end of 2025, the Group's equity amounted to €4.96 billion, compared with €4.92 billion in the previous year.

The credit ratings issued by Standard & Poor’s (S&P) also attest to the solidity of the group. The agency has confirmed the “A-” rating of the core W&W companies with a stable outlook.

Use of AI is being promoted – more training

The W&W Group is actively promoting the use of artificial intelligence (AI) as part of its Bestform 2030 initiative. AI solutions already in use include voice dialogue systems in customer service, balance sheet analyses in the lending business and assistance systems in the life, health, composite and construction financing insurance sectors. Others will follow quickly. The W&W Group sees AI – when used responsibly – as an opportunity to become better, faster and more agile in all areas of the company, thereby meeting the needs of its customers. The pension group is investing significantly in future-oriented training in order to expand its AI expertise and enable its employees to harness the potential of AI – including for their own careers. The success of W&W in using new technologies is clearly demonstrated by Adam Riese, the W&W Group's digital platform. Today, just a few years after its launch, it already has more than 450,000 customers.

W&W CEO Junker adds: „We are convinced that the W&W Group's business model must become more digital, more standardised and even more efficient. We will be working hard on this over the next few years.“

Outlook

Despite difficult conditions, the W&W Group is aiming for consolidated net income under IFRS of between €120 million and €150 million in 2026. At the same time, it is introducing targeted efficiency improvements, particularly in the Housing division and the IT sector, in order to respond to the continuing weakness in the property markets, challenges in the interest rate markets and general cost pressure, among other things.


Contact:
Investor Relations
Phone: +49 711 662-725252
Mail: ir@ww-ag.com