Corporate and specialty insurer HDI Global has reported another year of profitable growth for 2025, with gains in both revenue and earnings driven by new business, disciplined underwriting and inflation‑related price adjustments. Its UK & Ireland (UK&I) operation played a notable role, combining strong underlying performance with growth across key lines and further investment in people and capabilities.
“2025 was a pivotal year for UK and Ireland as we continued our ambitious growth plans for the business,” said Simon Hunt, interim CEO of HDI Global UK & Ireland. “HDI Global UK&I achieved strong underlying underwriting results, particularly in short‑tail segments, and saw notable growth in accident & health, cyber, credit risk and home and fine homes. At the same time, we made significant investments across captives and international programmes, liability, cyber and climate risk.”
Globally, insurance revenue rose 5% on a currency-adjusted basis to €10.3 billion, up from €10.0 billion a year earlier. Growth came primarily from new business and price adjustments in existing portfolios.
Large loss payments increased slightly to €426 million from €402 million but remained €125 million below budget. The insurance service result was broadly stable at €997 million, compared to €1,004 million in 2024.
The combined ratio benefited from low frequency losses, coming in at 90.3% versus 90.0% the prior year and staying within the group’s target of below 92%. The net insurance financial and investment result before currency effects rose to €102 million from €83 million, supported by higher investment volume.
Overall, EBIT increased 4% to €732 million from €702 million, while HDI Global’s contribution to Talanx Group net income rose 10% to €551 million from €501 million.
Within the corporate and specialty segment, HDI's 2025 metrics place it firmly among the sector's solid performers.
Allianz Commercial, one of HDI's largest global peers, reported around €18 billion in gross premium globally in 2023 for its integrated commercial and large corporate business.
HDI's reported combined ratio of 90.3% sits comfortably within the sub-90s to low-90s range many leading corporate and specialty platforms target, particularly after several years of elevated catastrophe and large-loss activity. The group's AA- financial strength rating from S&P and AM Best, which is described as "very strong", and is broadly in line with the ratings profile of other large global markets.
The company's 2025 numbers suggest it is holding its ground in its peer group -- growing revenue, preserving margin and maintaining a balance sheet and rating profile that support further growth in large and specialty risks.
For UK brokers and risk managers, the numbers underline HDI Global’s position as a financially robust player in the corporate and specialty segment at a time when clients are grappling with elevated catastrophe losses, social inflation and regulatory scrutiny.
In the UK&I, HDI’s emphasis on short‑tail segments, accident & health, cyber, credit risk and high‑net‑worth home and fine homes suggests continued appetite in areas where demand for technically strong, service‑oriented capacity remains high. The insurer’s focus on captives and international programmes is also relevant to UK‑headquartered multinationals looking for more sophisticated risk‑financing and multinational solutions.
The strengthening of the leadership team across underwriting, claims and operations points to an ongoing push to align technical capabilities with local market relationships – a critical factor in a London and regional market that remains highly competitive.
Hunt said 2026 is expected to be “an exciting year of opportunity” for the UK&I business as it supports the group’s Xcelerate29 strategy.
“We will continue to build our capabilities and bring new propositions to market, particularly across energy, power, and ESG, reinforcing our role as a long‑term Partner in Transformation for clients and brokers,” he said.
“A strong focus will be on targeted deployment of AI and data analytics to the benefit of our clients and broker partners, alongside proactive risk engineering and leading claims management. Our global mindset and broad product offering, supported by captives, alternative risk transfer, and international programmes, remains a key differentiator. Guided by our new strategy Xcelerate29, we are well positioned to help clients navigate an increasingly dynamic risk landscape.”
That combination of solid group results, targeted growth in specialist lines and investment in data, AI and risk engineering suggests HDI Global UK & Ireland will remain an active competitor on complex corporate accounts, especially where clients are seeking integrated solutions that blend traditional cover, captives and alternative risk transfer.
