The Vienna Insurance Group (VIG) is a listed insurance group based in Vienna that does business internationally. With a premium volume of EUR 8.6 billion and approximately 25,000 employees, VIG is one of the largest players on the insurance market in Central and Eastern Europe. It offers its customers high-quality products and services in the life and non-life segments. Shares of the Vienna Insurance Group are listed on the Vienna and Prague stock exchanges.
Standing for financial stability, VIG is able to offer customers, shareholders, partners and employees a high level of security. This is also underscored by the “A+” rating, with a “stable” outlook, given to it by the well-known rating agency Standard & Poor’s.
Growth region: CEE
In 1990, VIG was one of the first Western insurance company to move into Central and Eastern Europe – a region that today already accounts for more than 50% of total group premiums. The Group’s companies do business in Albania, Austria, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Germany, Hungary, Latvia, Liechtenstein, Lithuania, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Turkey and Ukraine. In addition, Wiener Städtische and Donau Versicherung have branch offices in Italy and Wiener Städtische has a branch office in Slovenia. VIG is thus very well placed to take part in the CEE region’s rising standard of living and hence in its rising need for insurance.
Core market: Austria
Austria is of key importance for the Group; it is here that the expansion began. With the companies Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung, which give the Group its outstanding positioning, VIG is the market leader in Austria.
Corporate structure redesigned
In 2010, as part of a restructuring, Wiener Städtische’s operating business in Austria was separated out from the international holding company activities. The change has enabled VIG to focus on the task of managing the Group, as well as on the reinsurance and international corporate business. The transparent structures and processes created within the Group have allowed management to become more efficient.
Comprehensive product offerings
VIG has more than 185 years of experience in the insurance business on which to build. Committed customer advisors, innovative product offerings, excellent service and optimum customer access, assured through multiple distribution channels, were and are the cornerstones of the company’s successful development. Furthermore, in line with its multi-brand strategy in every country, VIG relies on the power of proven brand names that are rich in tradition.
In Austria, the Group’s companies have for many years been offering a broad range of innovative insurance solutions both in the life and the non-life segments. In Central and Eastern Europe, the rising standard of living has led to an increased need for insurance. While motor vehicle insurance and household/homeowners’ policies were initially in strongest demand, today retirement provisions, savings and investment products in the form of life insurance policies are enjoying rising popularity.
VIG RE was founded to be the Group’s own reinsurance company. Its location in the Czech Republic underscores the significance of the CEE region as a growth market.
Employees ensure success
Innovative products require top-quality advice and outstanding service. For that reason, the employees are particularly important to the company’s success: The regional approach followed means that they are always close to the customers as well as to the needs of the market.