Gross written premiums and result before taxes

Gross written premiums

Further details on the gross written premiums are included in Note 1.7. Risk of concentration on page 203.

In 2024, VIG Insurance Group achieved gross written premiums of EUR 15,226.3 million and thus an increase of 10.5% year-on-year (2023: EUR 13,784.0 million).

With double digit growth rates in comparison to the previous year, gross written premiums in the segments Extended CEE (+10.5%) and Special Markets (+59.4%) grew especially strongly. Of the countries in the Extended CEE segment, Romania (+16.3%), the Baltic states (+10.4%), Slovakia (+7.4%) and Bulgaria (+14.8%) in particular recorded dynamic premium development. In the Special Markets segment, Türkiye recorded strong premium growth in particular (+96.7%).

Result before taxes

The consolidated result before taxes increased in 2024 to EUR 881.8 million (2023: EUR 772.7 million). The increase of 14.1% originates predominately from the significantly higher results in the segments Poland, Extended CEE, Special Markets and Group Functions.

The result before taxes, adjusted for adjustments of EUR 116.4 million (2023: EUR 103.3 million), which in 2024 mainly resulted from the impairment of goodwill in Hungary, resulted in a business operating result of EUR 998.2 million in 2024, which is 14.0% higher than the previous year’s figure (2023: EUR 876.0 million).