Further increase in premiums and profit
In spite of the generally challenging environment, a look at the Group profit for 2012 once again confirms that the decision of Vienna Insurance Group to expand into Central and Eastern Europe was correct. Strong growth in markets such as Poland more than offset the poor performance of life insurance in Austria. Vienna Insurance Group has continued its successful growth in the difficult economic environment of recent years. Never before has the Group generated a higher premium volume and profits have never been higher than in 2012. Market share in core markets was also increased to more than 19% in the 1st-3rd quarter of 2012.
Sale of Russian insurance investments
Vienna Insurance Group has ended its involvement in the Russian insurance market and completed the sale of its interests in Russian insurance companies. These consisted of minority interests in the three companies MSK-Life (around 25%), SG MSK (around 4%) and SoVita (around 15%).
VIG on a firm foundation with its new
Peter Hagen took over the position of Chairman of the Vienna Insurance Group Managing Board from Günter Geyer on 1 June 2012 and has been the General Manager of the Group since then. Franz Kosyna was appointed Deputy General Manager at the same time.
Peter Hagen joined the Group in 1989. He has been a member of the Vienna Insurance Group Managing Board since July 2004, and Deputy General Manager since 2009. He gathered extensive experience as a member of top management in a variety of business areas in Austria and the CEE region. As a member of the Managing Board, he played a key role in the successful development of business activities in Slovakia and the Czech Republic.
In 2001, Mr Geyer became Chairman of the Managing Board of Wiener Städtische (which was also responsible for Group functions until the demerger in 2010), and was the head of Vienna Insurance Group until 31 May 2012.
The Vienna Insurance Group Managing Board has had the following members since 1 June 2012:
General Manager Peter Hagen (CEO)
Deputy General Manager Franz Kosyna
Martin Simhandl (CFO)