Highlights 2018
Facts & figures
Group premiums EUR 9.7 billion (+2.9%)
When adjusted for single-premium life insurance, the year-on-year increase rises to 5.2%. More than half of the premium volume comes from the CEE region.
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Result before taxes EUR 485.4 million
Considerable 9.7% increase in profits. More than half of the profit was generated by CEE markets.
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96.0% net combined ratio
Therefore, VIG could further improve the combined ratio in 2018.
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Dividend per share EUR 1.00
A dividend of EUR 1.00 per share will be proposed at the Annual General Meeting on 24 May 2019 based on our new dividend policy of distributing between 30 to 50% of Group net profit to shareholders.
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A+ with a stable outlook
Rating of A+ with stable outlook was reconfirmed by Standard & Poor’s. VIG still has the best credit rating of all companies listed on the ATX leading index of the Vienna Stock Exchange.
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Solvency ratio 239%
VIG continues to have internationally outstanding solvency. VIG has sufficiently exeeded the required minimum solvency of 100% in all scenarios of the EIOPA stress test.
Personnel changes
Changes in the managing board
Peter Thirring (below left) moved from his position as General Manager of the VIG company Donau Versicherung to the Managing Board of VIG Holding on 1 July 2018. Liane Hirner (below right), who has been a member of the Managing Board of Vienna Insurance Group since February 2018, assumed the position of CFO on 1 July 2018.
Strengthening market position
Seesam acquisition concluded in the Baltic States
Following the signing of the purchase agreement in December 2017, the acquisition of 100% of the shares of Seesam Insurance AS (Seesam) was completed in September 2018. Vienna Insurance Group is using this acquisition to further reinforce its leading position in the Baltic market.
VIG acquires Gothaer and an interest in TUW “TUW” in Poland
The acquisition of Gothaer Towarzystwo Ubezpieczen (Gothaer) was completed at the beginning of 2019 with the approval of the local authorities. VIG also acquired an indirect interest through its Group company InterRisk in the insurance company Towarzystwo Ubezpieczeń Wzajemnych “TUW” at the beginning of 2019. This strengthens VIG’s position in the non-life sector of the Polish market.
Acquisition and renaming of Merkur in Bosnia-Herzegovina
The acquisition of 100% of the shares of Merkur Osiguranje d.d. (Merkur) was completed in February 2018 with the approval of the local authorities. This strengthens the range of products offered by Vienna Insurance Group in the life insurance segment in Bosnia-Herzegovina. Merkur’s regional presence in the Federation of Bosnia-Herzegovina is also an important factor in its acquisition. The company was renamed Vienna osiguranje d.d. in October 2018.
Agenda 2020 – highlights 2018
Selected highlights that VIG successfully achieved in 2018.
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