Despite the difficult market environment, the financial planning group achieved new business growth in building loans and property/casualty insurance. Normalisation of demand in home loans and saving.
The Wüstenrot & Württembergische Group (W&W) posted further growth in new business in a weak economic environment in the first quarter of 2024.
The Wüstenrot & Württembergische Group (W&W) has achieved further growth in new business in both the third quarter and the first nine months of this year.
Strong to very strong growth across nearly all lines.
Wüstenrot still on course for record performance, accompanied by strong new business in Württembergische’s life, health and property insurance.
Consolidated net profit for first half of year up 24 per cent at €180.7 million after strong second quarter.
Record new business for Wüstenrot Bausparkasse and higher market share, significant growth at Württembergische Versicherung.
First quarter of 2023 sees consolidated net profit of €64.1 million.
Best quarterly gross new business at Wüstenrot – total home loan savings increased by around 75 per cent.
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- Good, in some cases very good new business, cost efficiency and further expansion of digital offers lead to encouraging trend in income despite adverse market conditions and negative impact of IFRS accounting.
The Wüstenrot & Württembergische Group (W&W) further expanded its operating activities in the first nine months of 2022 and increased its market share, despite the unfavourable and highly-volatile market environment.
The Wüstenrot & Württembergische Group (W&W) continued the successful trajectory of its operating activities in the first six month of 2022.
Significant growth in new business in the first quarter of 2022 – digital business is also doing well.
- Chairman Hans Dietmar Sauer, Dr Reiner Hagemann and Hans-Ulrich Schulz will end their mandates as at 31 August for reasons of age.
- Edith Weymayr, Dr Michael Gutjahr and Dr Wolfgang Salzberger have been proposed as their successors.
- Earnings are well above original expectations thanks to strong new business, a friendly capital market environment, efficiency gains and a prudent risk policy.
- Losses from the summer’s natural disasters are already fully reflected in the financial statements.
- Significant growth in real estate
According to preliminary figures for the 2021 financial year, which have not yet been audited, Wüstenrot & Württembergische AG (W&W) will post consolidated IFRS net income of EUR 350 to 360 million.
- Consolidated net profit of EUR 236.9 million comes in above the value for the prior-year period by 39 per cent.
- Adverse effects from natural disasters losses occasioned by summer storms.
- Conservative risk strategy with forward-looking reinsurance quota proves successful also with storm losses
The Wüstenrot & Württembergische Group (W&W) enjoyed a highly successful first half of 2021, nearly doubling consolidated net profit. After-tax profit rose from EUR 107.0 million for the comparable period last year to EUR 196.2 million.
- Consolidated net profit in the first quarter rises to EUR 104.4 million.
- Strong growth in construction financing and insurance.
- Result in the upper range of the target corridor of EUR 220 to 250 million targeted for 2021 as a whole.
- Executive Board Chair Jürgen A. Junker: “The strong start to the year shows the success that the W&W Group is having with its restructuring and increased market presence.”
- Financial planning group posts strong new business and market share gains.
- A shareholder dividend of €0.65 per share will once again be proposed.
- Penetrate target markets more strongly, increase cost efficiency: The next step of the W&W transformation begins.
- Executive Board Chair Jürgen A. Junker:
“The W&W Group has done an excellent job of handling the challenges posed by the coronavirus crisis. It showed its resilience and quickly adjusted to the new conditions.”
- Consolidated net profit reaches EUR 170.4 million after nine months.
- Good levels of new business in construction financing and in the insurance segments, as well as rigorous cost management.
- Further expansion of new digital products.
- Executive Board Chair Jürgen A. Junker: “Our successful digitisation of products and processes guarantees close personal service and customer confidence – particularly in this age of the coronavirus.”