Group Annual Report 2023

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Key figures at a glance

Country

Insurance service revenue

Result before taxes

Net
combined ratio

Employees

 

in EUR '000

in EUR '000

in %

Number

Austria

3,307,356

385,876

91.61

5,422

Czech Republic

2,040,071

217,976

91.34

5,216

Poland

1,224,497

29,368

97.44

2,856

Extended CEE1

3,148,077

101,007

95.19

12,047

Special Markets2

617,638

64,238

96.60

3,307

Group Functions3

1,652,249

-25,776

82.06

557

1

Extended CEE: Albania incl. Kosovo, Baltic states, Bosnia-Herzegovina, Bulgaria, Croatia, Hungary, Moldova, North Macedonia, Romania, Serbia, Slovakia, Ukraine

2

Special Markets: Germany, Georgia, Liechtenstein, Türkiye

3

Group Functions: VIG Holding, VIG Re, Wiener Re, VIG Fund, corporate IT service providers, one asset management company and intermediate holding companies

Result before taxes

in EUR million

0 100 200 300 400 500 600 700 800 2023 585.7 772.7 2022 adjusted

Development of the net combined ratio

in percent

2023 0 20 40 60 80 100 Net claims ratio Net cost ratio 92.8 92.6 61.5 62.1 31.3 30.4 2022 adjusted

 

 

2023

2022
adjusted

Income statement

 

 

 

Gross written premiums

EUR million

13,784.0

12,559.2

Insurance service revenue – issued business

EUR million

10,921.8

9,737.6

Total capital investment result

EUR million

284.3

-12.2

Result before taxes

EUR million

772.7

585.7

Net result for the period after taxes and non-controlling interests

EUR million

559.0

472.3

Net combined ratio

%

92.6

92.8

Net claims ratio

%

62.1

61.5

Net cost ratio

%

30.4

31.3

Balance sheet

 

 

 

Total capital investment portfolio

EUR million

42,586.1

41,062.2

Consolidated shareholders’ equity (including non-controlling interests)

EUR million

6,029.7

5,713.9

Insurance contracts liabilities issued

EUR million

37,804.1

36,370.4

Total assets

EUR million

48,753.8

47,217.7

Operating return on equity (Operating RoE)

%

15.1

11.6

Contractual Service Margin (CSM)

EUR million

5,797.2

5,838.1

Share

 

 

 

Number of shares

Piece

128,000,000

128,000,000

Market capitalisation

EUR million

3,392.00

2,860.80

Average number of shares traded by day

Piece

~33,000

~56,000

Book value per share1

EUR

42.48

40.80

End-of-period price

EUR

26.500

22.350

High

EUR

27.350

26.850

Low

EUR

22.250

20.650

Share performance for the year (excluding dividends)

%

18.57

-10.24

Dividend per share

EUR

1.402

1.30

Dividend yield

%

5.28

5.82

Earnings per share3

EUR

4.31

3.63

Price-earnings ratio as of 31 December

 

6.15

6.16

Employees

 

 

 

Number of employees (annual average)

 

29,405

28,832

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

1

The value is calculated using shareholders’ equity less non-controlling interests and revaluation reserve as well as hybrid capital.

2

Proposed dividend

3

The calculation of this figure considers the interest expenses for hybrid capital. The undiluted earnings per share equals the diluted earnings per share (in EUR).

Dividend per share

in EUR

2020 2021 2022 2023 0 0.50 1.00 1.50 Dividend Proposed dividend 0.75 1.25 1.30 1.40

Insurance service revenue by line of business

17.4% (17.7%) 14.7% (14.2%) 47.0% (46.4%) 0.9% (0.9%) 7.8% (9.0%) 5.4% (5.1%) 6.8% (6.7%) MTPL Motor own damage Other property and casualty Health Life – unit- and index-linked Life – with profit participation Life – without profit participation
Values for 2022 in parentheses

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