Did you know…?

… that the economy in the CEE region is growing faster than in Austria?

Forecast. After adjusting for purchasing power, average economic growth in the CEE region is expected to significantly exceed the rate in Austria in 2015. All ten VIG core markets are expected to record real economic growth in 2015 and 2016. The region where VIG is represented has a population of 180 million, making it one of the most heavily populated parts of Europe, and it is also the region with the greatest macroeconomic growth potential.

… that the motor vehicle market offers great potential in the CEE region?

Motor vehicle insurance. Based on the market penetration in Austria, there is potential for 10 million vehicles in the Czech Republic, Slovakia, Poland and Romania alone. Moreover, in Poland, for instance, 72% of the vehicles are more than ten years old, twice the Austrian figure.

… that insurance density in the CEE region still has a great deal of catch-up potential?

Three times larger. Insurance density in Poland, the Czech Republic and Slovakia has tripled since the beginning of the century. Average per capita premiums, however, are still nine times smaller in the CEE region than in Austria and 13 times smaller than in the EU-15.

… that 99% of all companies in the CEE region are small and medium-sized enterprises?

Critical for success. They represent the economic backbone of the region. VIG companies are very successfully using custom-tailored insurance products to tap into this potential.