HDI Global SE has reported a strong first quarter for 2025, with insurance revenue reaching €2.6 billion, up from €2.3 billion in the same period last year. The company’s operating profit (EBIT) rose to €195 million, compared to €140 million in Q1 2024, while net income grew to €141 million from €104 million a year earlier.
The company’s combined ratio stood at 91.1%, an improvement from 91.8% at the end of Q1 2024. Despite experiencing several large losses during the period, HDI Global’s results remained within expectations. Dr. Edgar Puls, CEO of HDI Global SE, attributed the company’s stable performance to its ability to remain a reliable partner to clients and brokers.
“The first quarter clearly underpinned the increased severity of natural catastrophes and once again highlighted the importance of prevention to mitigate the consequences of these events for companies and societies alike,” Puls said, referencing the wildfires in California.
HDI Global’s latest results continue a positive trend. In 2024, the specialty insurer reported a full-year insurance revenue of €10.0 billion, reaching double-digit billions for the first time. The company also recorded a combined ratio of 90.0%, down from 91.5% the previous year, and operating profit (EBIT) rose to €702 million from €446 million.
The company has also made a key appointment, with Phil McDowell becoming global sales & distribution lead for international programs and captives. He will be responsible for driving the development of the insurer’s global broker relationships and advancing its international programs (IP) and captive proposition.
