Positive financial year 2023: HDI Versicherung defies challenges

Positive financial year 2023: HDI Versicherung defies challenges

In the past financial year, HDI Versicherung was able to present a satisfactory result despite challenges arising from the geopolitical situation, natural disasters and rising inflation. The premiums written in Austria rose by around 7% to MEUR 272, while the gross combined ratio improved to 72.8%. Special challenges such as damage caused by natural events and persistently high inflation were successfully overcome, which contributed to the stability of the company and was confirmed by the rating agency S&P with an “A” rating.

In the area of ​​industrial insurance, HDI was able to further increase premiums in 2023, particularly in the areas of business liability, fire, transport and technical insurance. In the private sector, premiums written also rose by 6.5%, with the geopolitical situation and problems in supply chains being cited as particularly challenging.

Despite rising interest rates and restrictive monetary policy, HDI Versicherung AG recorded a positive result of around MEUR 2.2 in the area of ​​investments, which represents a significant increase compared to the previous year. The retained profit increased to around MEUR 22.4 in 2023. HDI also took important steps towards digitalization, including through the introduction of the innovative home advantage tariff and digital signature pads for customer applications.

Sustainability plays an important role at HDI, including converting the fleet to electric vehicles and installing photovoltaic systems to generate energy. For 2024, HDI Versicherung expects low growth rates in the euro area, but positive sales development. The long-term investment strategy should continue to enable good financial results.