Highlights 2017

Facts & figures

Group premiums EUR 9.4 billion (+3.7%)

If adjusted for single premium life insurance, the year-on-year increase rises to 6.2%. More than half of the premium volume comes from the CEE region.

Result before taxes EUR 442.5 million

Major 8.8% increase in profits. More than half of the profit was generated by CEE markets.

Net combined ratio 96.7%

The combined ratio was once again significantly below the 100% mark in 2017, in spite of many adverse weather events and storm Herwart.

Solvency ratio 220%

VIG thereby continues to have an excellent solvency ratio at the level of the listed Group. The solvency ratio indicated in the Group report is information that is provided voluntarily by VIG.

Planned dividend increase

A dividend of EUR 0.90 per share will be proposed at the Annual General Meeting on 25 May 2018 to maintain our established dividend policy of distributing at least 30% of Group net profits after minority interests to shareholders.

VIG share price increases 21%

The clearly positive development recorded by VIG shares underscores the successful business development achieved by the Group.


The rating of A+ with a stable outlook was confirmed again by Standard & Poor’s. VIG continues to have the best credit rating of all companies listed on the ATX leading index of the Vienna Stock Exchange.

Expansion & mergers

VIG Re opens an office in Frankfurt

The Group reinsurance company, VIG Re, which is headquartered in Prague, opened its first office in Frankfurt in September. This is an important step in the planned expansion of its business into Germany, Austria and Switzerland. The Frankfurt office is focusing on underwriting reinsurance business in the non-life segment.

Mergers strengthen bank distribution

VIG is combining the expertise of its companies to strengthen the bank insurance business. VIG is merging its local composite insurers with life insurance companies that specialise in bank distribution in Austria, the Czech Republic, Slovakia, Hungary and Croatia. The mergers will be concluded during the course of 2018, subject to approval by local authorities.

Baltic states: InterRisk merged with BTA Baltic

VIG further improved its competitive position in the Baltic states by merging InterRisk (formerly Baltikums) with BTA Baltic and using BTA Baltic as a common brand. VIG also operates in Latvia, Lithuania and Estonia via Group companies Compensa and Compensa Life.

Strengths combined in Serbia

In August 2017, VIG concluded the merger of Serbian Group company Wiener Städtische Osiguranje and the two AXA companies that were acquired in 2016. The merger strengthens the selling power of the companies and allows VIG to efficiently take advantage of synergies.

VIG makes an acquisition in the Baltic states

VIG has further expanded its market leadership in the Baltic states by acquiring 100% of the shares of Seesam Insurance. The acquisition is subject to approval by local authorities.

Expansion in Bosnia-Herzegovina

VIG has signed a purchase agreement for Merkur Osiguranje in Bosnia-Herzegovina. The acquisition was concluded at the beginning of 2018 and expands the product portfolio by adding the life insurance segment. VIG also doubled its market share, making it the third largest player on the market.


New digital vision

VIG prepared a digital vision for the Group in 2017 to support Group companies during the digital transformation.

Xelerate: a campaign for innovation

The Xelerate program will promote innovation in the Group starting in 2018. VIG will provide financial support for the best digital initiatives chosen from projects submitted by the Group companies.


Focus on sustainability

VIG developed a sustainability strategy in 2017 that is based on the business strategy and uses the motto “Take responsibility and help shape the future”(starting on page 8 in the Sustainability Report). 
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Diversity concept

VIG has defined three priorities at Group level as part of its new diversity concept: gender, generations and internationality.

Personnel changes

Managing Board changes

Liane Hirner and Martin Simhandl (photo, © Ian Ehm)

Well-planned transition: Liane Hirner has been a Member of the VIG Managing Board since February 2018. She follows Martin Simhandl, who will be leaving the Managing Board in the middle of 2018 after 13 years as CFO.

On 30 June 2018, CFO Martin Simhandl will be leaving the position he has held on the VIG Managing Board for many years. In the interests of sustainable corporate governance, the Supervisory Board already arranged his successor in June 2017. Liane Hirner, an experienced auditor and management consultant, was appointed as a new Member of the Managing Board effective 1 February 2018. In addition, Roland Gröll left his position as Member of the VIG Managing Board on 1 July 2017 to join the Managing Boards of Wiener Städtische and Donau Versicherung. Peter Thirring will transition from Donau Versicherung to a position on the VIG Managing Board on 1 July 2018.