DEVK Group’s reinsurance business continued to grow in 2025, with non-group business (DEVK RE and Echo Re) written premiums increasing by 3.2% year-on-year to 1.41 billion euros.
The number of reinsurance customers increased from 998 in the previous year to 1,057, spanning 132 countries.
DEVK reported that the combined reinsurance ratio before allocation to equalization reserves was 90.4% as the impact of personal and catastrophe losses remained modest. As a result, both reinsurance divisions achieved strong underwriting results while further strengthening their capital base and resilience.
DEVK CEO Michael Knaup said: “Our reinsurers are a key driver of value and diversification for the DEVK Group and currently account for approximately a quarter of premium income.”
Total gross premiums written across the Group (including reinsurance and international operations) reached €5.75 billion in 2025, an increase of 7% compared to 2024.
DEVK generated new business of €1.33 billion, a year-on-year increase of 17.6%, the strongest new business performance in the company’s 140-year history.
All businesses grew, with domestic primary non-life insurance growing by 9.7% to €2.8 billion. In terms of automobile insurance, underwritten premiums increased by 14.8% to 1.58 billion euros, and legal expense insurance increased by 5.5% to 229 million euros. Life insurance premiums, including pension funds, increased by 4.9% to 1.14 billion euros. Health insurance also performed strongly, with premium income rising 11.6% to €134 million.
The group’s investment portfolio grew by 2.9% to 24.07 billion euros. Share capital increased by 6.9% from 2.85 billion euros to 3.04 billion euros, highlighting DEVK’s strong capital base.
Driven by a low claims year, non-life underwriting performance improved significantly in 2025, rising from €12 million to €143 million.
At the same time, DEVK transferred 125 million euros to equalization reserves, compared with 72 million euros in the same period last year. Following this allocation, the company reported underwriting results of €18 million, compared with a loss of €61 million in 2024.
Including the performance of life insurance, health insurance and pension fund business, total underwriting profit reached 33 million euros, compared with a loss of 43 million euros in the previous year.
Net profit after tax increased from €49 million to €136 million.
DEVK expects premium growth in 2026 to be approximately 4% and consolidated pre-tax profits to improve significantly.
The group added that it was still on track to achieve premium income of around 6 billion euros this financial year.
