LVM Versicherung Reports Strong 2024 Business Year

Münster-based insurer LVM Versicherung announced preliminary results for its 2024 business year on February 14, 2025. The company acquired more than 320,000 new customers during the year, increasing its total contract portfolio to over 15 million. Group-wide premium income rose by 9.1 percent to 4.9 billion euros, significantly outpacing the German insurance market’s average growth of 5.3 percent.

The property and casualty insurance segments were key drivers of this growth. Motor insurance premiums increased by 14.7 percent to 1.7 billion euros, while general property insurance premiums grew by 11.5 percent to over 1 billion euros. These increases were partly attributed to industry-wide adjustments necessitated by rising costs.

LVM's subsidiaries, LVM Krankenversicherung (health) and LVM Lebensversicherung (life), also achieved record levels of new business. The premium volume for new life insurance policies grew by 7.2 percent to 2.6 billion euros.

LVM described 2024 as a very successful business year, anticipating a substantial rise in earnings. Despite a moderate claims environment with few major loss events, the insurer processed over 960,000 claims totaling more than 2.4 billion euros.

The company plans to hire over 500 new employees in 2025, indicating its continued expansion strategy. Final financial figures for 2024 will be released on April 30, 2025, following the annual general meeting.