Outlook for the Insurance Group 2024

The Vienna Insurance Group with its approximately 29,000 employees, as the market leader in Central and Eastern Europe, is excellently positioned to take full advantages of the opportunities in this region and the associated long-term growth potential. Based on the trends and developments in the insurance business it is relying on the VIG 25 strategic programme that was developed together with the CEOs of the VIG insurance companies for the financial years up to 2025. In addition to creating sustainable value and reaching the sustainability objectives in the six spheres of impact (asset management, underwriting, office operation, employees, customers and society) the expansion of the leading market position in Central and Eastern Europe is a core objective of the programme with the ambition to achieve at least the top 3 market position in each CEE market, with the exception of Slovenia. A big step in this direction was the successful take-over of the companies in Poland, Romania, Türkiye and Hungary that were formerly part of the Dutch Aegon-Group. With this VIG advanced to number 1 in the Hungarian market.

The solvency ratio of VIG Group continues to be defined within a range of 150% to 200% without taking into account transitional measures for underwriting provisions used by some individual Group companies.

In the context of the new dividend policy in which the previous year’s dividend is set as the minimum dividend for the next year and anticipates a continuous increase depending on the operational result development, the Managing Board proposes to the relevant bodies an increase of the dividend from EUR 1.30 to EUR 1.40 per share for the financial year 2023. This corresponds to an increase of 7.7% year-on-year.

The Vienna Insurance Group has, so far, been able to manage the impacts of the challenging geopolitical and economic conditions very well and continues to focus on the success factors of continuity, stability and diversity. On this basis, a favorable results development is also expected for 2024 despite the volatile environment. VIG’s management therefore has the ambition to achieve profit before taxes within a range of EUR 825 and EUR 875 million for the financial year 2024.

Vienna, 26 March 2024

The Managing Board: