Investor Relations

Corporate Governance Report

Last update 20 April 2017

 

The Vienna Insurance Group complies with all of the "Legal Requirements" of the Austrian Corporate Governance Code as set forth by law.

Vienna Insurance Group deviates from one “Comply or Explain” rule, as explained below:

Rule 41:

The Supervisory Board shall set up a nomination committee. In cases of Supervisory Boards with no more than six members (including employee representatives), this function may be exercised by all members jointly. The nomination committee submits proposals to the Supervisory Board for filling mandates that become free on the Managing Board and deals with issues relating to successor planning.

Explanation:

Because of its special importance, the entire issue of successor planning is handled by the Supervisory Board. The Vienna Insurance Group Supervisory Board has therefore not established a nomination committee.

External Evaluation of Compliance with the Code

C-Rule 62 of the Austrian Code of Corporate Governance provides for voluntary external evaluation of compliance with the C-Rules of the Code at least every tree years. Vienna Insurance Group had this evaluation performed in 2016 for the 2015 Corporate Governance Report. All evaluations came to the conclusion that VIG has complied with all the requirements of the Code. The summarised information on these evaluations is available on the website of Vienna Insurance Group. Another external evaluation for financial year 2017 is scheduled for the spring of 2018. The results of this evaluation will also be made available on the website.

 

DocumentDownloadreleased on
Corporate Governance Report VIG 2016469 KB20 April 2017
Corporate Governance Report VIG 2015417 KB18 April 2016
KPMG Evaluation of CG-Report 2015 24 KB18 April 2016
Wolf Theiss Evaluation of CG-Report 2015228 KB18 April 2016