Vienna Insurance Group Annual Report 2014
An interview with the VIG Managing Board
Background information. Financial year 2014, current challenges facing the insurance industry and future plans.
VIG at a glance
Stable. In spite of a selective underwriting policy, premiums written by the Group remained at a stable level of EUR 9.1 billion. The Remaining Markets saw particularly strong growth in total premiums.
Net. The underwriting result improved in spite of numerous natural disasters. Programmes and measures for enhancing efficiency and profitability will be systematically continued.
Overall positive. For the first time since 2011, all lines of business and regions once again provided a positive contribution to earnings compared to the previous year. The Czech Republic recorded the highest profit in the Group. Romania is back in the profit zone. Poland and Slovakia and the Remaining Markets provided their best performance to date in 2014.
Low level of interest rates. In spite of a write-down of Hypo Alpe Adria bonds and the historically low level of interest rates, VIG earned a financial result of EUR 1,116.9 million in 2014, compared to EUR 1,226.9 million in the previous year.
VIG in the CEE region
Vienna Insurance Group (VIG)
Central and Eastern Europe. After its international expansion, a tour of VIG’s world now passes through 25 countries with different languages, culture and traditions. Come with us, and take a look at the leading insurance group in Austria and Central and Eastern Europe.
Expert Juraj Kotian discusses the economic catch-up process in Central and Eastern Europe and how it benefits the people there.
An interview with the Managing Board
In addition to having many customers, Vienna Insurance Group’s main goal is to have satisfied customers. To keep them satisfied, we want to exceed expectations – while being friendlier, faster, more reliable and more creative. A selection of recent projects.
“The introduction of the pension account in Austria creates clarity about individual pension needs – which are clearly substantial.”
The challenge of low interest rates
0.05% interest rate. The European Central Bank (ECB) lowered its key interest rate to this historic low on 4 September 2014. A previous reduction in June had reduced the rate from 0.25% to 0.15%.
Interview with Werner Matula,
Group Chief Actuary
Interview with an expert
Johannes Martin Hartmann on the responsibilities and challenges of a reinsurance company.
Did you know …?
… that the economy in the CEE region is growing faster than in Austria?
… that insurance density in the CEE region still has a great deal of catch-up potential?
… that the motor vehicle market offers great potential in the CEE region?
… that 99% of all companies in the CEE region are small and medium-sized enterprises?
56% in the field sales force
44% in administration
60% of the employees in the Group are women
20% fraction of women in the managing boards of insurance companies
40% fraction of women at the level directly below the managing board
VIG on Watchadoo
A look behind the scenes: See why people in the VIG like to work here. Here you can see the videos.
Corporate Social Responsibility
VIG Kids Camp, “An espresso with Rainer Münz”, Motor vehicle environmental bonus, Celebrating 650 years – the University of Vienna, Breast cancer prevention for 100 women, The Veil of Agnes