Vienna Insurance Grp Ord (VNRGF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.436 -- 00:00:05.544 Good afternoon to our half-year presentation, and thank you for joining us. 00:00:05.544 -- 00:00:09.831 We are happy to present you today strong half-year results. 00:00:09.831 -- 00:00:15.097 We have achieved across written premiums of 8.569 00:00:16.402 -- 00:00:21.350 million Euro premiums, which is a growth of 8.7%. 00:00:21.350 -- 00:00:25.514 Insurance service revenues of 6,396,000,000. 00:00:26.609 -- 00:00:29.951 which is an increase of 8.1%, 00:00:30.073 -- 00:00:33.257 and profit per tax of 531 million, 00:00:33.257 -- 00:00:35.698 which is 10.5% 00:00:36.241 -- 00:00:41.948 growth. Our net combined ratio of 91.9% and earnings 00:00:41.948 -- 00:00:45.052 per share up 10% to 5.92 00:00:45.052 -- 00:00:46.654 euros, 00:00:46.654 -- 00:00:50.639 which results in an operating return on equity of 18.9%. 00:00:50.639 -- 00:00:52.261 On 00:00:52.261 -- 00:00:55.823 the next slide, 00:00:56.123 -- 00:01:01.377 I'm happy to guide you through our main events which we had in the first 00:01:01.377 -- 00:01:06.951 half year. Besides having the strong performance, we also had a 00:01:06.951 -- 00:01:12.037 goodwill impairment in Hungary in the amount of 72.8 00:01:12.619 -- 00:01:17.724 million. We had an improvement of our combined ratio, which was also supported 00:01:17.724 -- 00:01:21.709 on one hand side by a lower frequency 00:01:21.709 -- 00:01:27.354 and lower impact of weather-related claims and also a better cost ratio. 00:01:27.354 -- 00:01:32.760 Weather-related claims in the first six months were 73 million 00:01:32.760 -- 00:01:37.518 Euro in comparison to last year of 113 million. 00:01:37.518 -- 00:01:43.425 We have announced on the 8th of August that we entered an exclusive 00:01:43.425 -- 00:01:48.571 due diligence...