Diversity pays off

Facts & figures 2019

Group premiums of EUR10.4 billion (+7.7%)
More than half of the premium volume comes from the CEE region. MORE
 

Dividend per share of EUR 1.15
A dividend of EUR 1.15 per share will be proposed at the Annual General Meeting under the dividend policy which foresees a distribution in the range of 30% to 50% of Group net profits to shareholders. MORE

Combined ratio (net) of 95.4%
The combined ratio could thus be further improved in 2019. MORE

Result before taxes of EUR 521.6 million
The result before taxes rose significantly by 7.4%. More than half of the profit was generated by CEE markets. MORE

A+ with a stable outlook
Rating of A+ with stable outlook confirmed again by Standard & Poor’s. VIG Insurance Group continues to have the best rating of all companies listed in the Austrian index ATX. MORE

Solvency ratio of 210%
VIG Insurance Group solvency was at an excellent international level in 2019.

(XLS:) Download (23kB)

 

 

2019

2018

2017

2016

Rounding differences may occur when rounded amounts or percentages are added.

1

Incl. unit-linked and index-linked life insurance investments and excl. cash and cash equivalents

2

RoE is the ratio of Group result before taxes to total average shareholders’ equity.

3

The value is calculated using shareholders’ equity less non-controlling shares and revaluation reserve as well as hybrid bonds in the previous years.

4

Planned dividend

5

The calculation of this figure includes the proportional interest expenses for hybrid capital in previous years. The undiluted result per share equals the diluted result per share (in EUR).

Income statement

 

 

 

 

 

Premiums written

EUR millions

10,399.4

9,657.3

9,386.0

9,051.0

Net earned premiums – retention

EUR millions

9,317.9

8,729.4

8,509.6

8,191.3

Financial result

EUR millions

1,010.8

1,037.5

924.3

958.8

Expenses for claims and insurance benefits – retention

EUR millions

-7,262.7

-6,947.0

-6,872.6

-6,753.4

Acquisition and administrative expenses

EUR millions

-2,293.2

-2,140.7

-2,040.3

-1,907.8

Result before taxes

EUR millions

521.6

485.4

442.5

406.7

Net result of the period after taxes and non-controlling interest

EUR millions

331.3

268.9

297.6

287.8

Combined ratio

%

95.4

96.0

96.7

97.3

Claims ratio

%

63.7

64.7

66.3

66.9

Cost ratio

%

31.7

31.3

30.4

30.4

Balance sheet

 

 

 

 

 

Investments1

EUR millions

43,076.1

44,336.9

44,994.0

43,195.8

Shareholders’ equity (including non-controlling interests)

EUR millions

5,190.7

5,835.7

6,043.9

5,711.3

Underwriting provisions

EUR millions

40,002.1

38,115.3

38,780.9

37,350.0

Total assets

EUR millions

50,344.9

51,163.5

51,714.0

50,008.1

Return on Equity (RoE)2

%

10.5

8.9

8.3

8.9

Share

 

 

 

 

 

Number of shares

Piece

128,000,000

128,000,000

128,000,000

128,000,000

Market capitalisation

EUR millions

3,251.2

2,595.8

3,297.9

2,726.4

Average number of shares traded by day

Piece

~65,000

~86,000

~104,000

~161,000

Book value per share3

EUR

33.67

32.64

31.93

29.99

End-of-period price

EUR

25.400

20.280

25.765

21.300

High

EUR

25.850

28.740

26.520

24.790

Low

EUR

20.000

19.900

21.590

16.095

Share performance for the year (excluding dividends)

%

25.25

-21.29

20.96

-15.78

Dividend per share

EUR

1.154

1.00

0.90

0.80

Dividend yield

%

4.53

4.93

3.49

3.76

Result per share5

EUR

2.59

2.04

2.23

2.16

Price-earnings ratio as of 31 December

 

9.81

9.94

11.55

9.86

Employees

 

 

 

 

 

Number of employees (average for the year)

 

25,736

25,947

25,059

24,601

Change in profit

Change in profit (bar chart)

Change in the combined ratio

Change in the combined ratio (bar chart)

(XLS:) Download (19kB)

VIG Insurance Group by segments in the year 2019

Country

Premium volume

Result before taxe

Combined ratio

Employees

 

in EUR 000

in EUR 000

in %

Number

1

Remaining CEE: Albania incl. Kosovo, Bosnia-Herzegovina, Croatia, North Macedonia, Moldova, Serbia, Ukraine

2

Other Markets: Germany, Liechtenstein

3

Central Functions: VIG Holding, VIG Re, Wiener Re, VIG Fund, non-profit societies, corporate IT service providers and intermediate holding companies

Austria

3,943,276

207,327

93.5

5,077

Czech Republic

1,745,827

172,450

92.0

4,889

Slovakia

798,860

48,884

97.1

1,707

Poland

1,131,979

69,203

94.8

2,450

Romania

468,237

-101,830

100.9

1,886

Baltic states

500,284

7,655

97.7

1,944

Hungary

289,520

8,665

97.6

512

Bulgaria

223,905

15,763

95.8

854

Turkey/Georgia

234,902

6,661

96.5

1,159

Remaining CEE1

446,910

27,066

93.9

4,508

Other Markets2

380,402

22,561

82.4

133

Central Functions3

1,623,491

36,461

–

617

Dividend per share

Dividend per share (bar chart)

Premiums by lines of business

Premiums by line of business (ring chart)
Values for 2018 in parentheses