BarmeniaGothaer closes its first financial year with a very good result

• 7.9 percent growth[1] in premium income to € 9.3 billion
• Stronger group equity base and improved solvency
• Consolidated net profit increase to over € 100 million
• Above-market growth in property and casualty and health premiums of 8.9 and 8.8 percent respectively
• Growth of 0.5 percent against the market trend in strategically important regular life insurance premiums
• BarmeniaGothaer is the industry leader with an AA+ in the Assekurata sustainability rating for insurance groups

Cologne/Wuppertal, 15 December 2025 – BarmeniaGothaer Co-CEOs Dr. Andreas Eurich and Oliver Schoeller, together with the other members of the executive management team, presented the preliminary figures for the current financial year at today’s virtual press conference.

“2025 was a year of growing together into one organization for us. We wanted to build on the momentum created by the swift merger of the two predecessor companies to continue shaping market developments and to offer our employees new perspectives. Despite geopolitical tensions and the weak economy in Germany, we achieved this objective very successfully,” said Eurich. Co-CEO Schoeller emphasized: “Our above-average premium growth and significantly improved financial strength demonstrate that our plan to combine the complementary market strengths of Barmenia and Gothaer is working.”

The Group anticipates premium income growth of 7.9 percent[2] to an estimated € 9.27 billion in 2025 – a growth of 0.5 percentage points above market.[3] This strong development is primarily being driven by the property & casualty and health insurance segments. The expected growth of 8.9 and 8.8 percent respectively in these segments is well above market (market growth rate: 7.7 percent and 8.0 percent respectively).[4] 3.8 percent growth is anticipated in the life insurance segment (market growth rate: 7.0 percent).[5]

The Group further consolidated its equity base in 2025 and a year-end figure in the region of € 2.07 billion is expected (previous year: € 1.99 billion). The Group’s Solvency II ratio (excluding transitional measures on technical provisions) is expected to rise from 189.3 percent in 2024 to 201.1 percent. Consolidated net profit should increase from € 19 million to in the region of € 101 million.

S&P confirms ‘A’ rating and ‘positive’ outlook

Against this backdrop, rating agency S&P Global Ratings (S&P) confirmed the ratings of Gothaer Allgemeine Versicherung AG, Gothaer Krankenversicherung AG and Gothaer Lebensversicherung AG in June 2025. All three companies have retained their 'A’ rating and the outlook remains ‘positive’. In its report, S&P assumes that competitiveness will improve due to an even more diverse product portfolio, a more extensive network of sales channels and a broader customer base. S&P also recognized the very robust financial risk profile, which is underpinned by a very solid equity base, and emphasized the improved resilience across all insurance lines as a result of the diversified positioning. S&P’s positive outlook has opened up an opportunity to improve the current rating by a further increment to ‘A+’ within the next 12 to 24 months.[6]

Property and casualty: well above market premium growth and stronger profitability

Total gross premiums written by Barmenia Allgemeine Versicherungs-AG and Gothaer Allgemeine Versicherung AG are expected to rise by 9.4 percent to € 3.32 billion. This represents overall growth of 1.7 percentage points above market for the two property insurers.[7]The growth drivers are the mobility and private client business segments, where growth of 15 and 12 percent respectively is expected. 5.9 percent growth is anticipated in the corporate client segment. The combined ratio of Gothaer Allgemeine and Barmenia Allgemeine will fall by 2.1 and 5.0 percentage points to 91.2 and 95.6 percent respectively. “I am delighted that we have continued to outpace the market and significantly improve our profitability in the property and casualty insurance segment. Given the current claims inflation situation, this is a reflection of our disciplined underwriting and our sustainable approach to cost and claims management,” said Thomas Bischof, Board Member for Composite Insurance at BarmeniaGothaer.

Health: above-market growth in premium income

Growth in total gross premiums written by Barmenia Krankenversicherung AG and Gothaer Krankenversicherung AG was 0.8 percent higher than market growth, increasing by 8.8 percent to € 3.82 billion.[8]Premium growth was driven by the comprehensive insurance segment, where gross premiums written were up 9.7 percent. 6.3 percent growth is anticipated in the supplementary insurance segment (including company health insurance). The number of policyholders had risen to 3.2 million in October 2025 – an increase of around 34,000 since October 2024.

“It is great news that our growth will outpace the market in our first full financial year together. I am particularly proud of the expansion of our comprehensive insurance client base, with nearly 9,000 new policyholders. This represents another significant increase on the previous year and the strongest expansion of our policyholder base in more than 15 years,” explained Christian Ritz, Board Member for Health Insurance at BarmeniaGothaer.

Life: growth in current premiums bucks the market trend

Gross premiums written by Gothaer Lebensversicherung AG in 2025 are expected to rise by 4.1 percent to € 1.44 billion (market growth rate: 7.0 percent).[9]Contrary to the market trend, the life insurer expects growth of 0.5 percent in strategically significant regular premiums (market: -0.6 percent).[10]Single premium business is expected to grow by 16.2 percent. The willingness of customers to recommend the company to others has also developed very positively. According to the latest KUBUS study, Gothaer Leben ranks among the top three life insurance companies with regard to the NPS.

“Our growth in regular premiums running against the market trend is testimony to our excellent positioning and innovative strength. The high willingness to recommend us shows that we have been very successful in continuing to focus on our customers during the merger of the two life insurance companies,” said Alina vom Bruck, Board Member for Life Insurance at BarmeniaGothaer.

AA+ for BarmeniaGothaer in the Assekurata sustainability rating

In its first Assekurata sustainability rating for insurance groups, BarmeniaGothaer achieved an AA+ (very good) rating. This is the best result ever achieved by an insurance group, making BarmeniaGothaer the industry leader. The Assekurata rating involved the analysis of Barmenia Krankenversicherung AG, Barmenia Allgemeine Versicherungs-AG, Gothaer Lebensversicherung AG, Gothaer Allgemeine Versicherung AG and Gothaer Krankenversicherung AG. In its rating process, Assekurata not only assesses how an insurance company deals with sustainability-related risks for its own business activities (outside-in perspective), but also, and in particular, the extent to which it provides effective external sustainability impetus and thus has an impact on the environment and society (inside-out perspective). The parameters of framework, business operations, product management/risk transfer and capital investment were examined for this purpose. “I am delighted that our comprehensive range of sustainability activities are also rated so positively by a neutral third party. The rating highlights the importance of this topic within our organization and creates transparency and guidance for our employees, our insurance agents and our clients. Above all, however, it shows that our approach of being sustainable in everything we do is working,” explained Harald Epple, CFO and Board Member for Sustainability.

Outlook

“In a geopolitical and economic environment that remains volatile, our recently adopted ‘TogetherStrong’ strategy provides essential guidance. We prioritize a strong market focus through trusted and enduring customer relationships – both in private and corporate client business – and specifically leverage the strengths we possess as a sustainably operating mutual insurance association. At the same time, we are making targeted investments in modern technologies and artificial intelligence to further optimize our processes and successfully tackle future challenges,” said Schoeller. “On this basis, we are consistently driving forward our integration and systematically leveraging synergies in order to further strengthen our market position. Our ambition remains unchanged. We want to create an exceptional company that is perceived as a reliable partner in the market,” added Eurich.