Market leader in Austria and several Central and Eastern European (CEE) markets with a well-diversified insurance portfolio enhanced by strong distribution capabilities, which are amplified by an exclusive bancassurance contract with Erste Bank.

VIG is facing increasing economic pressure and rising institutional risks in developing markets. In particular, Turkey, Poland, Hungary, and Romania which have rising inflation, tightened financial conditions, and lingering recession risks. VIG has a somewhat higher regional earnings concentration compared to higher rated peers.

Sizable capital buffer at the 'AAA' level as per our risk-based capital model, supported by the group's underwriting discipline.

Relatively high capital sensitivity to market movements, in particular interest rates.

Sound reinsurance protection that limits the group's natural catastrophe losses from diverse perils in Austria and CEE.