2009 was the first financial year of the Group’s in-house reinsurance company, VIG Re zajišt’ovna, a.s. (VIG Re). The company ended the year with a premium volume of close to EUR 260 million, and generated a profit before taxes of EUR 14.5 million which exceeded original growth expectations by around 30%. Although the focus of the company was on in-house reinsurance, it also acquired its first customers from outside the Group in 2009.
This trend continued when reinsurance treaties were renewed in 2010. VIG Re currently counts 30 outside insurance companies among its customers, thereby establishing itself as a new reliable provider of reinsurance capacity in the CEE region. This position is strengthened by Standard & Poor’s A+ rating, and capital resources of around EUR 100 million. VIG Re draws on the Vienna Insurance Group’s 20 years of experience in the countries of Central and Eastern Europe, including its resultant knowledge of the markets and close customer relationships.