HDI Global reported higher revenue and earnings in 2025, with insurance revenue reaching €10.3 billion and its contribution to Talanx Group net income rising 10% to €551 million.
The corporate and specialty insurer said the result was driven by new business, inflation-related price adjustments, and underwriting discipline. Earnings before interest and tax rose 4% to €732 million, while the insurance service result was largely steady at €997 million, compared with €1,004 million a year earlier.
Its combined ratio came in at 90.3%, staying within the company’s full-year expectation of below 92%. Large loss payments increased slightly to €426 million from €402 million, but still came in €125 million below budget. Net insurance financial and investment income before currency effects rose to €102 million from €83 million, which the company linked to a higher investment volume.
Stefan Feldmann (pictured), head of HDI Global Asia Pacific and managing director of HDI Global Australia, said its Australian branch contributed to the group’s overall result, with growth supported by international programmes and activity in renewable energy.
“2025 was a strong year for our business, particularly given the competitive market environment. In Australia, we continued to grow profitably by staying disciplined in our underwriting and by deepening our relationships with brokers and clients,” Feldmann said.
Globally, HDI Global said insurance revenue increased 5% after currency adjustments, or 2% in euro terms, to €10.3 billion. The company said the increase came mainly from new business and higher prices in existing business.
The insurer also said lower-frequency losses helped support the combined ratio during the year. While large loss payments rose slightly, the total remained below the company’s budgeted figure.
Looking ahead, Feldmann said it plans to continue expanding across Australia, New Zealand, and the wider Asia-Pacific region through its Xcelerate29 strategy. The company said its focus for 2026 includes international programmes, regional expansion, and building expertise in energy, climate, and complex industrial risks.
“Our ambition is not to be the biggest, but to be the most trusted partner in transformation for our clients. We aim to be recognised for our technical excellence, reliability, and true long-term approach. As a relationship insurer with a refreshingly different style and start-up culture, we work side by side with our clients and brokers to support transformation, resilience, and long-term success,” Feldmann said.
