Group premiums EUR 9.1 billion
Adjusted for single-premium life insurance products, the increase was a satisfactory 4.4%. More than half our premium volume comes from the CEE region.
97.3% net combined ratio
The solid underwriting result has led to a combined ratio significantly below the 100% mark again in 2016.
Planned dividend per share of EUR 0.80
This will be proposed at the Annual General Meeting on 12 May 2017 to maintain our dividend policy of distributing at least 30% of Group net profit after minority interests to shareholders.
New strategic VIG work programme
Many initiatives were launched in the following three areas: ensuring future viability, optimising our business model and organisation and cooperation.
Result before taxes EUR 406.7 million
As a result, we more than achieved our stated objective of doubling the previous year’s profit to up to EUR 400 million. Half of our profit comes from the CEE markets.
A+ with a stable outlook
Rating re-confirmed by Standard & Poor’s. VIG continues to have the best rating of all companies included in the ATX leading index of the Vienna Stock Exchange.
VIG is currently the only insurance group in Austria with an approved internal model and has been using this model since Solvency II came into effect on 1 January 2016.
Expansion in Serbia and Romania
Vienna Insurance Group continued its successful expansion in the CEE region with acquisitions in Serbia and Romania in 2016.