What makes us unique
© Wiener Städtische Versicherungsverein/Robert Newald
The Vienna Insurance Group is one of the most successful insurance companies in Austria and CEE. With the support of our employees we have laid the foundations for a bright future that fills us with confidence, courage and optimism.
In the past, this confidence has helped us to take a number of bold and pioneering steps, including our decision in 1990 to invest in a country where economic output had dropped by 20 percent - and looked set to keep on falling. Industrial output had slipped by 40 percent, inflation was at 60 percent and unemployment had quadrupled. Not really the right conditions to start an insurance company. But a few courageous souls in what was then still Czechoslovakia thought otherwise and set up the first privately owned insurer in the former Communist bloc. They were true pioneers, their optimism and entrepreneurial spirit unaffected by the challenging economic climate. On the contrary, they saw the crisis as an opportunity. Their unswerving dedication was the foreword to a true success story - a true VIG story, you might say: Kooperativa.
Besides committed and courageous employees, the key to such success is a strategy that is deeply rooted in the corporate culture. This strategy needs to outline a vision and offer guidance for vital long-term decisions, as well as providing a platform for achieving the company’s short- and medium-term goals.
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Our key strategic principles are clear and simple:
- VIG is an insurance company – and nothing else.
- VIG is a proactive insurer that pursues a conservative investment strategy.
- VIG will continue to follow and adapt its multi-brand and multi-channel distribution strategies – the partnership with Erste Group is particularly important in this regard.
- VIG puts its faith in local management.
- VIG is at home in Austria and Central and Eastern Europe.
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