The strongest profit driver in 2015 was property and casualty insurance, with favourable claims development over the whole year. Cost development was likewise positive. As already announced, W&W is targeting consolidated net profit of at least EUR 220 million for 2016, depending on the development of interest rates and the capital markets. With respect to its greater presence on the exchanges, Deutsche Börse AG began listing W&W AG on the SDAX on 21 March.
Dr Alexander Erdland, Chairman of the Executive Board of W&W: “Wüstenrot & Württembergische concluded a very strong year in 2015. Against this background, we are particularly pleased that we were able to make the capital markets more familiar with our equity story. The upgrade to an SDAX company shows that more and more investors are acknowledging the business model, strategy and key figures of W&W AG.”
Note for editors: You can find the 2015 annual financial report at www.ww-ag.com/publikationen.
W&W AG, headquartered in Stuttgart, Germany, is the strategic management holding company for the W&W Group. The W&W Group was founded in 1999 after the merger of the companies Wüstenrot and Württembergische. The “Home Loan and Savings Bank” division includes, inter alia, Wüstenrot Bausparkasse AG and Wüstenrot Bank AG Pfandbriefbank. In terms of gross new home loan business, Wüstenrot Bausparkasse AG is Germany’s second largest home loan and savings bank. The “Insurance” division includes, inter alia, Württembergische Lebensversicherung AG and Württembergische Versicherung AG. These two companies are among the top 15 in the German insurance industry. This unique combination means that the W&W Group can meet all of the precautionary financial needs of its approximately 6 million customers from one source. In 2015 the Group posted record net income of EUR 274 million. Germany is its core market. Outside Germany, the Group maintains a strategic focus on the Czech Republic.