W&W adjusts forecast after severe weather

In recent weeks, Wüstenrot & Württembergische Group’s (W&W) regional core insurance business in particular has suffered massive losses in some cases due to storms, in particular the so-called “Orinoco” natural hazard event and various regional storms. While the HGB result of W&W AG is stable and on target, IFRS accounting shows significant burdens in the first half of 2024. The W&W Group expects a negative IFRS result in the low double-digit million euro range. For 2024 as a whole, the IFRS result is expected to be significantly below the previous year's figure of EUR 140.5 million. New and existing business is performing well and the stable dividend policy will be continued.