Group Functions

The Group Functions reportable segment includes VIG Holding (including the branches in Northern Europe), VIG Re (including the branches in Germany and France), Wiener Re, VIG Fund, corporate IT service providers, one asset management company and intermediate holding companies. VIG Holding primarily focuses on managerial tasks for the Group. It also operates as the reinsurer for the Group as well as in the international corporate business.

VIG Re, a reinsurance company established in Prague in 2008, offers tailored reinsurance solutions to both VIG insurance companies and third parties. With its branches in Germany and France, it is the leading reinsurance company in the CEE region and is continuously expanding its market position in continental Europe and Asia. At the end of 2024, the rating agency Standard & Poor’s again confirmed the “A+” rating of VIG Re with a stable outlook.

Financial performance indicators in the reportable segment Group Functions

Insurance service revenue

The insurance service revenue was EUR 1,780.9 million in 2024 and thus over the previous year’s figures by 7.8% (2023: EUR 1,652.2 million). The increase is mainly due to a positive development resulting from the increased business volume.

Result before taxes

In 2024, in the segment Group Functions, a result before taxes in the amount of EUR 21.3 million was recognised (2023: loss in the amount of EUR 25.8 million). The improved result is primarily due to the higher total capital investment result and the decline in the finance result due to the early buyback of subordinated bonds (reported in the balance sheet item “Subordinated liabilities”).