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Wüstenrot & Württembergische H1 net profit declines YOY

Wüstenrot & Württembergische AG reported first-half consolidated net profit attributable to shareholders of €115.7 million, down from €154.2 million in the year-ago period.

Basic EPS for the quarter was €1.24, compared to €1.65 a year earlier.

Gross premiums written increased to €2.28 billion from the year-ago €2.18 billion. In the property and casualty insurance segment, gross premiums written rose year over year to €1.18 billion from €1.12 billion, while in the life and health insurance business, gross premiums written totaled €1.09 billion, compared to €1.07 billion a year earlier.

The company still expects consolidated net profit will amount to at least €200 million for the full year 2018. The company remains committed to its long-term goal of consolidated net profit of €220 million to €250 million.