Top insurer 2025: WGV leads the market with the best profitability!

Top insurer 2025: WGV leads the market with the best profitability!

The evaluation of home building insurance shows clear winners and losers on the market. According to an analysis by V.E.R.S. Leipzig's WGV insurance for 2023 had a combined ratio of 69 percent, the lowest over a six-year period. The BGV and the Bayerische Landesbrandversicherung were also in positive territory with values ​​below 80 percent. These figures come from the publication “Industry Monitor 2024: Home Building Insurance”, which examines the 50 largest providers, which together cover around 95 percent of the market.

Overall, there was a clear separation between the providers in the 2023 financial year: While around half recorded higher expenses for claims and costs than income, the other providers were able to achieve underwriting profits. In the period under review from 2018 to 2023, around 30 market participants had, on average, higher expenses than income, which is worrying. Bayerische Allgemeine Versicherung AG was particularly noticeable, posting the highest losses with a combined ratio of almost 125 percent.

Market participants at a glance

In addition to WGV, VGH Versicherungen performed consistently positively, reaching the actuarial profit zone in every year of the observation period. In contrast, Gothaer Allgemeine Versicherung AG and Adler Versicherung AG also recorded high losses. The winners included a total of 20 market participants who achieved underwriting profits, eight of whom earned more than ten cents per euro of premium.

• WGV-Versicherung: 69 % Combined Ratio, viermal höchste Rentabilität (2019, 2020, 2022, 2023)
• BGV: Quoten zwischen 86 % (2018) und 70 % (2019)
• Bayerische Landesbrandversicherung: Beste Werte zwischen 67 % (2020) und 98 % (2023)
• VGH Versicherungen: Jährlich in Gewinnzone

WGV insurance consistently earned more between 2018 and 2023, with rates that fluctuated between 50.8 percent (2020) and 70.8 percent (2023). In contrast, the Bayerische Landesbrandversicherung and BGV also delivered good results, but the fluctuation in their rates is considerable.

Industry insights and trend analysis

A closer look at the entire claims business shows that residential building insurance had a premium volume of 224.82 million euros, which corresponds to an increase of 16.5 percent. Nevertheless, a decline in the number of contracts of 1.3 percent had to be accepted. In terms of claims expenses, an increase of 10.2 percent to 162.25 million euros was recorded, while the combined ratio was just under 100 percent, which is a sign of stability in the midst of growth for the industry.

There are also signs of change in the motor vehicle insurance sector: claims expenses rose to 509.80 million euros, which corresponds to an increase of 17.8 percent compared to the previous year. The loss ratio reached 94.1 percent and the combined ratio was 112.2 percent. These index values ​​are worrying for the insurance industry, as a combined ratio of over 100 percent was found across all 50 providers analyzed.

Overall, the analysis suggests versicherungsjournal.de and the additions of the vers-leipzig.de points out that despite the challenges in the market, some providers were able to stand out positively. The complete study contains further details and can be ordered for 892.50 euros.