W&W Group adjusts income forecast
Wüstenrot & Württembergische AG (W&W) is adjusting its forecast for its consolidated results for 2017. The consolidated net profit for the year according to IFRS will most likely surpass the previous-year figure of €235 million noticeably. Previously, the consolidated net profit for 2017 had been predicted to reach the level of 2016.
The upward adjustment of the forecast is based on growth in new business, the effects of sales and customer care measures, and the very good claims trend in property insurance thus far. Additionally, an anticipated one-time effect will be noticeable.
The W&W Group is planning extensive investments to improve customer care and the addressing of customers as well as digitisation. At the same time, however, the Group expects the intensity of competition to increase further. The Group will also take advantage of this good performance for the purpose of making necessary investments under its own steam and further strengthening its fundament.
The business performance in the year to date does not necessarily mean that income will continue to develop in the same way beyond 2017.
The forecast for 2017 is subject to the condition that no major capital market events and claims occur.