Profile

With a premium volume of approximately EUR 9.0 billion in 2015 and around 23,000 employees, Vienna Insurance Group is one of the leading insurance groups in Austria and Central and Eastern Europe (CEE). Innovation, strong customer relationships and an emphasis on customer service create a high quality product portfolio offering attractive solutions in both the life and non-life insurance segments.

VIG's clearly focused strategy for expansion in the CEE region enabled it to make a transition from being an Austrian insurance company to an international group at an early stage. The story begins with Wiener Städtische, one of the first Western European companies in its industry to recognise the growth opportunities in Central and Eastern Europe, and to take a chance on entering the market in the former Czechoslovakia in 1990. Following its entry into the Moldovan market in 2014, Vienna Insurance Group mow operates in 25 markets.

Number 1 in its core markets

Vienna Insurance Group's core markets include Austria, the Czech Republic, Slovakia, Poland, Romania, Bulgaria, Croatia, Hungary, Serbia and Ukraine. With a market share of 18%, Vienna Insurance Group is the clear number 1 insurer in these markets.

The Vienna Insurance Group markets in Central and Eastern Europe generated around half of the approximately EUR 9.0 billion in Group premiums in 2015 – a clear indication of the success of the CEE expansion strategy. While demand in this region in the period following 1989 was initially strongest for motor vehicle insurance, and then household and homeowner insurance as well, today retirement provisions, savings and investment products in the form of life insurance policies are enjoying rising popularity.

In 2008, the Vienna Insurance Group formed an in-house reinsurance company in the Czech Republic. The formation of the company VIG Re that has its registered office in Prague thereby stressing the importance of the CEE region as a growth market for Vienna Insurance Group.

Customer proximity – in 25 markets

Every customer is unique. They differ in their need for insurance and retirement provisions, living circumstances and the way they like to receive advice. Vienna Insurance Group is aware of this. The Group therefore intentionally relies on established regional brands united under the Vienna Insurance Group umbrella, because it is the individual strengths of these brands and local expertise that make Vienna Insurance Group successful as a corporate group. There is one thing, however, that all Vienna Insurance Group companies have in common: the goal of providing security to customers.

Success thanks to a focus on our core business and binding values

Vienna Insurance Group is a progressive, highly risk-conscious insurer that focuses on its core business, the insurance business. One of the key reasons is its conservative investment policy. It offers security in the form of reliability, trustworthiness and soundness – not only to its customers, but also in its dealings with business partners, employees and shareholders. All its business decisions in this regard are based on ethical values such as honesty, integrity, diversity, equal opportunity and customer orientation.

The effects of this fundamental approach are shown not only by its strategy of continuous sustainable growth, but also its excellent creditworthiness. In July 2015 the internationally recognised rating agency Standard & Poor's confirmed its A+ rating with a stable outlook. As a result, Vienna Insurance Group continues to have the best rating of all companies in the ATX, the leading index of the Vienna Stock Exchange.

Successful partnership: Vienna Insurance Group and Erste Group

Vienna Insurance Group acquired the entire insurance operations of the Erste Group in 2008. An agreement was concluded at the same time for a strategic partnership that benefited both corporate groups equally: Erste Group branches distribute Vienna Insurance Group insurance products and Vienna Insurance Group Group companies offer Erste Group bank products in return.

Strong stock-exchange presence, long-term principle shareholder

Vienna Insurance Group shares have been listed on the Vienna Stock Ex-change since October 1994. Vienna Insurance Group's secondary listing on the Prague Stock Exchange in February 2008 underscores the great importance of the Central and Eastern European region to the Company.

Around 70% of Vienna Insurance Group's shares are held by Wiener Städtische Versicherungsverein, a stable principal shareholder with a long-term orientation. The remaining shares are in free float.

Employer of Choice

In addition to being first choice for insurance products, Vienna Insurance Group also wants to be the first choice as an employer and attract the most talented and intelligent employees. Diversity is seen as an opportunity and is part of day-to-day life at Vienna Insurance Group. Importance is attached to creating the conditions needed to enable women to develop their full potential. This is because Vienna Insurance Group is aware that its success is based on people, and therefore on the dedication of its approximately 23,000 employees.