Corporate insurer HDI Global has identified the United States as its primary growth target through 2029, planning a North American push alongside expansion into Southeast Asia and the Middle East as it hunts for higher-margin business in specialty segments.
The company will prioritise aviation, crisis management, surety and credit insurance – as lines where larger competitors have struggled to dominate – as part of its newly announced Xcelerate29 strategy running through the end of the decade.
Chief executive officer Dr Edgar Puls (pictured above) described the United States as "a central lever for growth" while the insurer implements harmonised underwriting standards and artificial intelligence-supported processes across its operations.
"With Xcelerate29, we are taking our ambition to the next level," Puls said, noting the company has consolidated its position through expertise across its value chain and partnership-based client collaboration.
The strategy builds on strong 2024 results when HDI Global crossed €10 billion in insurance revenue for the first time whilst posting a 90.0% combined ratio, ahead of the broader market where US property and casualty insurers averaged 96.5%.
Operating profit surged 57% year-on-year to €702 million from €446 million, company figures show. The insurer's return on equity rose to 17.6% from 14.3%, whilst ratings agency S&P recently upgraded the company to AA-.
The combined ratio improved from 91.5% in 2023, continuing a multi-year trajectory of underwriting discipline. Close rivals for the company also provide context: Chubb achieved a 91.0% combined ratio in 2023, whilst Progressive posted 94.1%.
Insurance revenues reached €9.1 billion in 2023, growing 10% year-on-year, before crossing the €10 billion threshold last year.
The framework follows a three-part approach centred on selective international footprint expansion, operational excellence in core business, and organisational development. The strategy name combines "Excellence" and "Accelerate".
HDI Global will implement data-driven underwriting and claims standards. "Our established Underwriting Excellence framework sets clear guardrails for technical quality across all market phases," Puls said.
The insurer is implementing AI-supported processes in underwriting and claims, including risk analysis, automated document processing and first notification of loss models, whilst maintaining that final decisions remain with people under a "human driven – AI powered" approach.
The company provides services in more than 175 countries, combining international capabilities with local decision-making.
