VIG Insurance Group

As a market leader in Austria and the CEE region, VIG Insurance Group with its more than 25,000 employees is in an excellent position to take advantage of the opportunities available in this region and the long-term growth options they offer. It remains committed to its proven business strategy of profitable growth. Based on the values of diversity, customer proximity and responsibility, VIG insurance companies want to use their successful management principles to strengthen and further increase their market shares. This includes both organic growth and growth by acquisitions, particularly if an opportunity arises to strategically expand the existing portfolio or to take advantage of economies of scale. The goal is to increase market share to a minimum of 10% in Poland, Hungary, Croatia and Serbia in the medium term. This goal was already achieved in one of these countries, Serbia, in 2016. The acquisition of Gothaer TU in 2019 – which was subsequently renamed Wiener TU – increased the market share to around 8% in Poland.

The strategic measures and initiatives set by the Agenda 2020 work programme – business model optimisation, ensuring future viability and organisation and cooperation – helped accelerate the development of the Group in 2019. The focus continues to be on efficiency improvements, making use of synergies and the systematic reduction of both losses and expenses to improve the combined ratio. In life insurance, efforts will also be made to further promote biometric risk coverage and the regular premium business.

Under its dividend policy which foresees a distribution in the range of 30 to 50% of Group net profits, the dividend per share will continue to be aligned with the Company's performance.

Due to the coronavirus pandemic dominating the news at the time of the editorial deadline, VIG Insurance Group has taken all appropriate measures to protect its employees and ensure that business operations can continue. These measures will be continuously adjusted as the situation changes. We are also continuously monitoring capital market developments.

The far-reaching measures implemented around the world to prevent further spread and the associated uncertainty concerning its progression will lead to a slowdown in economic growth. At the current time, the effects on the business development of the insurance group cannot yet be estimated.