Wüstenrot & Württembergische AG Adjusts Forecast after Severe Weather

In recent weeks, the Wüstenrot & Württembergische Group (W&W) has seen significant losses in its regional core insurance business due to severe storms. Notably, the "Orinoco" natural hazard event and various regional storms have impacted the group. While the HGB result remains stable and on target, IFRS accounting reveals substantial burdens for the first half of 2024. The W&W Group anticipates a negative IFRS result in the low double-digit million euro range.

For the entire year of 2024, the IFRS result is expected to be significantly lower than the previous year's figure of EUR 140.5 million. Despite these setbacks, new and existing business is performing well, and the company plans to maintain its stable dividend policy.