Vienna Insurance Group Annual Report 2015


An interview with the Managing Board

Standing tall,
thanks to the CEE region.

The Managing Board on business development in 2015, the strategy and why it continues to be convinced of the potential offered by the CEE region.

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New Managing Board, proven strategy

A balance between continuity and change

Continuity and change are fundamentally in conflict. However, if a company has achieved success based on a strategy that has proven itself over the long run, there is no need to follow a new direction when a change in personnel occurs.

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The VIG strategy

Guidelines for a successful future

The VIG strategy is based on continuity and stability, and clearly sets the Group apart from its competitors.

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VIG at a glance

Profit before taxes EUR 172.1 million

Results reduced due to the historically low level of interest rates, a write-down of IT systems and further impairments of assets in Romania and Poland.

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55 % of profit before taxes from the CEE region

EUR 9.0 billion in premiums

Stable performance despite decreases in single premium life insurance.

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Combined ratio 97.3%

Solid underwriting result leads to a combined ratio significantly below the 100% mark.

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Growth prospects of the CEE region

Further growth to come

Vienna Insurance Group has insured Central and Eastern Europe for 25 years. The region offers above-average growth and huge market potential, and therefore plays an integral role in the success of the Group.

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Market highlights

Bread and butter from Austria, sweet fruit from CEE

What is the best thing about our hard work? When the local companies bloom and prosper. Selected measures and achievements in 2015.

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VIG’s history of success

A long history of success

VIG’s roots reach back to the year 1824. The oldest of the three companies that merged to form today’s Wiener Städtische was founded in Austria that year.

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Group companies

Austria and Central and Eastern Europe – this is our home

From Belarus to Bulgaria and from the Czech Republic to Georgia – Austria and Central and Eastern Europe are deeply rooted in our DNA.

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Top position in an emerging market

The CEE region makes it possible. VIG is drawing on a huge reservoir of business and growth potential that will continue to exist for many years.

Low interest rate environment

An interview with the CEO of Erste Group

Good intentions, but not good

We are living in a period of almost zero interest rates that creates happy borrowers and angry savers. As shown in our interview with Andreas Treichl, however, it also poses risks for business activity and substantial risks for the economic system.

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An interview

We have to properly assess developments taking place in the capital markets and in economies in order to avoid risks. Gerald Weber,
Head of VIG Asset Management

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VIG’s investment strategy

Investment with a safety harness

The unstable situation on the financial markets increases VIG’s resolve to continue its security-oriented investment strategy.

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Life insurance with a guaranteed interest rate

A guarantee forms the basis of all sensible retirement provision

Low interest rates make it difficult for life insurance. Austrian company s Versicherung is nevertheless maintaining a guaranteed interest rate.

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Risk management

Karel van Hulle on the introduction of Solvency II

It should be proportional and expedient.

The launch of Solvency II provides a comprehensive reform of the previous regulations. It will ensure that the industry becomes more risk-conscious and more robust.

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VIG risk management

Risk is ok – but it needs to be managed

Identifying the risks of a business model, assessing them appropriately and making provisions for their occurrence – these are the requirements of a comprehensive risk management system.

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VIG Infobox

One of Vienna Insurance Group’s core competence is dealing professionally with risk. The VIG risk management system is firmly anchored in the management culture of the Company and is based on a clearly defined, conservative risk policy, extensive risk expertise, a highly developed set of risk management tools, and risk-based Managing Board decisions. Read more about the VIG risk management system in the Group report.

VIG update on Solvency II

Green light for Solvency II

VIG implements the European directive with its own partial modelling.

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VIG compliance

Common compliance culture

Group Compliance Officer, Natalia Čadek on the special function of codes of conduct in an international group of companies.

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VIG in the capital market

Stable foundation

Opportunities and risks of VIG shares

2015 was a difficult year for Vienna Insurance Group shareholders, even though the Group continues to have a solid and profitable foundation.

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IR news

Rating confirmed

with stable outlook

more IR news

Key figures VIG share

VIG share in 2015

EUR 42.620

EUR 24.910

Year-end price, EUR 25.290

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Expert check

Is there a CEE bonus? Friedrich Mostböck
Head of Group Research, Erste Group

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IR contact

If you have any questions about the Group and VIG shares, please contact the Investor Relations team.

Nina Higatzberger Head of Investor Relations
Phone: +43 (0) 50 390-21920

CSR / Employer of choice

Responsible company

Responsibility both in & outside the Company

Our involvement does not end at the office door. We also actively tackle issues and provide help outside our daily business lives. In addition to helping with the professional development of its employees, VIG also uses social initiatives to contribute to their personal development.

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HR news

Silver at Best Recruiters

For the second time, VIG Holding has been rewarded with the silver label by Career’s Best Recruiters.

more HR news

CSR projects

Wrapping of the Ringturm

The Company headquarters, the Ringturm building, once again became an art tower in celebration of its 60th anniversary.

mehr VIG-Projekte

An interview

Our focus is on people Birgit Moosmann,
Head of Human Resources

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An interview

Long-term thinking is in our DNA. Petra Ringler,

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Order Service

We would be pleased to send you the Group Annual Report by mail.

Order Service


Download the VIG Group Annual Report 2015 as PDF file.