The DEVK Group’s reinsurance business continued to grow in 2025, with premiums written from non-group business (DEVK RE and Echo Re) increasing 3.2% year over year to EUR 1.41 billion.
The number of clients in its reinsurance business rose to 1,057 from 998 the previous year, spanning 132 countries.
DEVK reported that the reinsurance combined ratio before allocation to the equalisation provision stood at 90.4%, as the impact of individual and catastrophe losses remained moderate. As a result, the two reinsurance units delivered a strong underwriting result while further strengthening their capital base and resilience.
Michael Knaup, CEO of DEVK, said, “Our reinsurers are a key driver of value and diversification for the DEVK Group and now account for around a quarter of premium income.”
Across the group, including reinsurance and international business, gross written premiums totalled EUR 5.75 billion in 2025, up 7% from 2024.
DEVK generated EUR 1.33 billion in new business, a 17.6% increase year over year, marking the strongest new business result in the company’s 140-year history.
Growth was recorded across all lines, with domestic primary non-life insurance business growing 9.7% to EUR 2.80 billion. In motor insurance, written premiums increased 14.8% to EUR 1.58 billion, while legal expenses insurance rose 5.5% to EUR 229 million. In life insurance, including pension funds, premiums rose 4.9% to EUR 1.14 billion. Health insurance also performed strongly, with premium income increasing 11.6% to EUR 134 million.
The group’s investment portfolio increased 2.9% to EUR 24.07 billion. Equity rose 6.9% to EUR 3.04 billion from EUR 2.85 billion, underscoring DEVK’s strong capital base.
The non-life underwriting result improved significantly in 2025, rising to EUR 143 million from EUR 12 million, driven by a low-claims year.
At the same time, DEVK transferred EUR 125 million to the equalisation provision, compared with EUR 72 million a year earlier. After this allocation, the company reported an underwriting result of EUR 18 million, compared with a loss of EUR 61 million in 2024.
Combined with the results from life and health insurance, as well as pension fund business, this resulted in a total underwriting profit of EUR 33 million, compared with a loss of EUR 43 million in the previous year.
Net profit after tax increased to EUR 136 million from EUR 49 million.
For 2026, DEVK expects premium growth of around 4% and a significantly improved consolidated pre-tax profit.
The group added that it remains on track to achieve premium income of around EUR 6 billion in the current financial year.
