The stock exchange anniversary - three decades of success
The IPO 30 years ago was an effective catalyst for the expansion in Central and Eastern Europe. A dividend has been paid to shareholders every year without interruption – a total of around EUR 2.8 billion.
The success of VIG is inextricably linked to the IPO – at that time still as Wiener Städtische Versicherung. At the IPO (initial public offering), its preference shares are listed on the Vienna Stock Exchange on 17 October 1994 (issue price 1,030 Austrian schillings, EUR 74.85). Ten years later, in preparation for the major stock market offensive, the shares are split in a ratio of 1:7. This split, which makes the shares more attractive for small shareholders, is followed by a conversion into ordinary shares in the summer of 2005. That year witnesses many events in rapid succession: In June, the shares are included in the Prime Market, and in September in the ATX. The first capital increase follows in December, the proceeds of which finance the CEE expansion.
- The preference shares of the former Wiener Städtische Versicherung are listed on the Vienna Stock Exchange for the first time on 17 October at an issue price of 1,030 Austrian schillings (EUR 74.85)*. The free float is 11% at the time.
* Figures without taking capital measures into account
- The major stock market offensive with the opening up to the international capital market begins: The preference ordinary shares are converted into voting ordinary shares.
- In September, the share is added to the ATX.
- The first capital increase takes place in December, raising around EUR 910 million. The free float increases to around 29%.
- Beginning in February, the shares are traded under the name VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe.
- In addition, the share has also been listed on the Prague Stock Exchange since February.
- In May, VIG Holding carries out its second capital increase with approximately EUR 1.1 billion. The proceeds finance the acquisition of the insurance activities of Erste Group in Austria and CEE as well as the newly established mutual distribution partnership.
- In August, the operational insurance business in Austria is spun off from the holding functions of the Group. The listed company VIG Holding focuses on the management of the Group, as well as on international corporate business and reinsurance.
- In March 2021, VIG is the first insurance company in Europe to issue a sustainability bond. The net proceeds from the issue of this bond are invested in projects in the areas of renewable energy, green buildings and clean transportation, as well as in social projects for affordable housing and improved access to education and healthcare.
- On 13 April 2022, the VIG IR LinkedIn channel goes live with a video about the goals, requirements and responsibilities of VIG IR. It is the first Austrian Investor Relations LinkedIn channel.
- To further emphasise the CEE focus, VIG shares have also been listed on the Budapest Stock Exchange since 11 November 2022.
- Wiener Städtische Versicherungsverein currently holds around 72% of the 128 million ordinary shares in VIG Holding, with the free float accounting for around 28%.
Free float: Geographical distribution
Three years later, the company makes further headway on the capital market: The first step is to internationalise the trading name on the Vienna Stock Exchange. Starting on 1 February 2008, the shares started being traded under the name VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe (symbol: VIG). Almost at the same time, the secondary listing on the Prague Stock Exchange takes place. In May of the same year, VIG again obtains fresh capital to take over the CEE insurance activities of Erste Group. In the run-up to this, the second-largest transaction on the Vienna Stock Exchange in 2008, an unusually intensive roadshow takes place: Over the course of two weeks, VIG management takes questions from investors in 23 cities around the world.
Uninterrupted top ranking
As rapidly as VIG has grown since its capital market debut, it has remained solid throughout the years. This has also been confirmed by the rating agency Standard & Poor’s (S&P) every year since 2004. S&P awarded an “A” with a “stable outlook” from the outset, raising this to “A+” one year later. Vienna Insurance Group has held this rating without interruption ever since, making it one of the most stable and best rated companies on the Austrian ATX.