Corporate & Specialty insurer HDI Global has reported positive financial results for 2025, with profitable growth in both revenue and earnings. The main drivers were new business growth, disciplined underwriting, and inflation-related price adjustments. HDI Global made a significant contribution to the full-year results of the Talanx Group.
“With the collective effort of more than 5,500 employees, HDI Global delivered positive full-year results for 2025, with momentum driven by growth in new business and inflation-related price adjustments in the existing portfolio,” says Dr Edgar Puls, CEO of HDI Global. “My sincere thanks go to our clients and broker partners for their trust. Our performance reflects the value they place on our technical depth, speed, and long-term solutions. By combining financial strength with specialist services, we deliver bespoke outcomes and help reduce protection gaps. With comparatively moderate natural catastrophe activity during the year, large losses were below budgeted expectations. At the same time, we maintained a strong focus on sharpening performance, especially in the Specialty segment.”
On a worldwide scale, HDI Global increased insurance revenue in the 2025 financial year by 5 percent after adjustment for currency effects (growth in EUR: 2 percent) to EUR 10.3 (10.0) billion. The growth resulted in particular from new business as well as inflation-related price adjustments in existing business. Large loss payments rose slightly to EUR 426 (402) million, but fell significantly short of the budgeted figure by EUR 125 million. The insurance service result remained stable at EUR 997 (1,004) million.
The combined ratio benefited from low frequency losses and, at 90.3 (90.0) percent, was within the expectation of less than 92 percent for the full year. The net insurance financial and investment result before currency effects rose due to a higher investment volume to EUR 102 (83) million. EBIT was lifted by 4 percent to EUR 732 (702) million, HDI Global’s contribution to Talanx Group net income grew by 10 percent to EUR 551 (501) million.
“Strong profitability and capital strength enable us to be a reliable Partner in Transformation for our clients and brokers - especially as systemic risks continue to evolve. The upgrade of HDI Global’s financial strength rating to AA‑ further underscores the robustness of our Group. With our Xcelerate29 strategy, we are accelerating international expansion, raising excellence in our core business, and building a forward-thinking organisation. We are strengthening process excellence and driving AI augmentation to boost efficiency and quality in underwriting and claims, creating an organisation that is human driven and AI-powered. I am truly proud of and grateful to our more than 5,500 colleagues worldwide whose curiosity, dedication, and client-centric mindset make a real difference every day,” Dr Puls adds.
Source: HDI Global Reports Strong 2025 Financial Results as New Business Drives Growth
AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-” (Excellent) and the Vietnam National Scale Rating of aaa.VN (Exceptional) of PVI Insurance Corporation (PVI Insurance). The outlook of these Credit Ratings (ratings) is stable.
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