Successfully integrated and financially resilient: BarmeniaGothaer reports above-market growth and high profitability

• Above-market growth in premium income of 7.8 percent to around 9.3 billion euros
• Above-market growth in health and property & casualty premiums of 8.9 and 8.3 percent respectively
• Significant growth in all three of the life segment’s strategic business areas
• Consolidated net income almost tripled[1]
• Excellent financial standing: the Group equity base is strong and solvency is very robust
• Ambitious targets: ten billion euros in gross premiums and 200 million euros in consolidated net income by 2028

Cologne/Wuppertal, 22 May 2026 – BarmeniaGothaer is reporting dynamic growth after closing out its first full financial year. Above-market premium growth, strong operating performance and the further strengthening of the Group’s financial standing reflect its successful integration trajectory.

“2025 has made it clear that our strategic direction is particularly well aligned with the current geopolitical, economic and social challenges. In an environment characterized by increasing volatility, the broader positioning of our business model is proving effective. Diversification, more comprehensive risk management and the resulting greater resilience are reinforcing our long-term operational capability,” stated Co-CEO Dr. Andreas Eurich. Co-CEO Oliver Schoeller emphasized: “Our above-market premium growth and strong financial position demonstrate that we are already consistently translating the merger’s potential into tangible business results and operational excellence. A strong brand, a well-positioned stand-alone sales organization as a key pillar of our resilience and our combined innovative and technological capabilities provide the foundations for a robust and sustainable market position.”

The BarmeniaGothaer Group’s premium income in 2025 totalled 9.27 billion euros, representing an increase of 7.8 percent over the previous year and growth of 1.2 percentage points above market level. This strong development is primarily being driven by the health and the property and casualty segments, which recorded significantly higher-than-market growth of 8.9 and 8.3 percent respectively (market growth: 7.3 and 7.6 percent respectively). The life segment is outperforming the market in terms of both regular and single premiums policies; with overall growth of 4.6 percent, it is only slightly below the market average (market growth: 5.2 percent) due to the lower weighting of single premiums in the Gothaer Lebensversicherung AG portfolio.

The Group’s equity base climbed to a strong 2.07 billion euros in 2025 (PY: 1.99 billion). Its Solvency II ratio (excluding transitional measures on technical provisions) improved from 189.3 percent in 2024 to 225.6 percent. Consolidated net income for the year (after tax and before adjustment of the equalization reserve) increased from 63.5 million euros to 180.5 million euros.

Property and casualty: Above-average premium growth and improved profitability

Total gross premiums written by Barmenia Allgemeine Versicherungs-AG and Gothaer Allgemeine Versicherung AG rose by 9.2 percent to 3.31 billion euros. This represents overall growth of 1.6 percentage points above market for the two property insurers. The growth drivers are the mobility and private client segments, where growth of 15 and 12 percent respectively was achieved. The corporate client segment grew by 4.9 percent. The (gross) combined ratio of Barmenia Allgemeine improved by 9.8 percentage points to 90.7 percent; whilst the (gross) combined ratio of Gothaer Allgemeine improved by 2.6 percentage points to 90.8 percent.

“In the property and casuality insurance sector, we are growing significantly faster than the market, whilst achieving a clear improvement in profitability and financial strength. Together, these factors lay the foundations for further sustainable growth. For us, gaining market share means growing with financial strength,” said Thomas Bischof, Board Member for Composite Insurance at BarmeniaGothaer.

Health: Strong above-market premium growth and a stronger earnings position.

Growth in gross premiums written by Barmenia Krankenversicherung AG and Gothaer Krankenversicherung AG outperformed the market by 1.6 percent, increasing by 8.9 percent to 3.82 billion euros. The comprehensive health insurance segment is developing particularly dynamically, with premium growth of ten percent and a portfolio expansion to over 9,000 policyholders. Premium growth in supplementary insurance (including company health insurance) was 5.7 percent. The net income for the year increased by 67 percent to around 52 million euros.

“I am delighted we were able to achieve an even stronger competitive position through above-market premium growth. The significant net increase in the number of policyholders with comprehensive health insurance reflects a strong level of customer trust. It confirms that our consistent focus on high-quality services and long-term stability is resonating in the market. This achievement encourages us to remain committed to our strategy and to keep the needs of our policyholders at the centre of everything we do going forward,” explained Christian Ritz, Board Member for Health Insurance at BarmeniaGothaer.

Life: Growth and consolidation of financial resilience across all strategic business areas

Gross premiums written by Gothaer Lebensversicherung AG rose by 4.6 percent to 1.45 billion euros (market growth: 5.2 percent). Regular premiums, which are particularly relevant for the life insurer, grew by 0.2 percent above market (market growth: 0.1 percent). Single-premium business increased by 19.5 percent, which is 2.4 percentage points higher than market growth. Significant premium growth was also achieved in the strategic business areas of biometrics (up 6.5 percent), private pension plans (up 4.8 percent) and company pension plans (up two percent). The solvency ratio (excluding transitional measures on technical provisions) rose to 267 percent.

“In the past financial year, the life insurance market was shaped to a great extent by strong growth in single-premium business. We are focused on a balanced and broadly diversified product portfolio. In this context, we are pleased to have remained on our growth trajectory across all three strategic business areas. We will continue to embrace our social responsibility in line with Germany’s new Pension Reform Act by offering products and services that are tailored to our customers’ needs. At the same time we attach equal importance to digital services and personal advice,” said Alina vom Bruck, Board Member for Life Insurance at BarmeniaGothaer.

Outlook

The insurance market is undergoing profound changes that will have a lasting impact on its future direction. Social security system reforms, a challenging economic environment and technological disruptions driven by artificial intelligence all demand robust strategic responses and decisive action. At the same time, these developments present significant potential that should be actively harnessed. A consistent focus on opportunities is therefore becoming key to driving innovation, securing competitive advantages and achieving sustainable growth,” explained Eurich. “Our TogetherStrong strategy provides a clear and resilient framework for the future and our ambition is to consistently align growth, earnings and financial strength. By 2028, we aim to be generating gross premium income of ten billion euros and consolidated net income of 200 million euros. To reach these goals, we will systematically unlock growth potential across our three focus segments of private clients, employer benefits and SMEs. At the same time, we are making targeted investments in modern technologies to actively shape change and further strengthen our position as a trusted market partner,” remarked Schoeller.