“VIG is an attractive employer on the international stage that offers outstanding development opportunities to all employees who want to contribute and develop their personal strengths. We work with our employees as equals, and aim to create an environment that is both challenging and supportive.”
No.1 in the core markets
355 million euros in profit before taxes
36,000 working hours
is the number of hours volunteered by VIG employees during the Social Active Day, which was extended to 19 countries in 2013. This corresponds to around 4,500 working days that employees were allowed to use for social involvement.
1.30 euros per share
is the amount recommended to the General Meeting by the Managing Board. This corresponds to an increase of 8.3% or EUR 0.10 compared to the previous year and underlines the strong operating performance achieved by VIG.
9,218,574,295 euros in Group premiums
were written by VIG in 2013, 4.4% less than the previous year. Significant increases were recorded in countries such as the Baltic States, Bulgaria, Hungary, Serbia, Slovakia and the Ukraine. The Remaining Markets segment passed the EUR 1 billion mark for the first time. Premium revenues were influenced by targeted reductions in Poland, Romania and Italy.
Flooding in Austria and Central and Eastern Europe
In the early summer of 2013, a flood affecting some areas in VIG’s core markets had dramatic consequences for the people in this region. VIG received around 25,000 claims totalling around EUR 180 million according to current estimates. After deducting reinsurance, VIG retained a net amount of around EUR 38 million. Most of the claims were from Austria and the Czech Republic. The remainder of the claims were distributed among Germany, Hungary, Poland, Romania and Slovakia. Total claims due to storm events were EUR 280 million – approximately EUR 100 million higher than the previous year. VIG’s retention was around EUR 120 million of this amount.
Head of Investor Relations
“Successful placement of a EUR 500 million subordinated bond in October 2013 that was more than four times oversubscribed shows how attractive VIG is in the bond market.”
Combined strengths in Croatia
Merging the Croatian VIG Group companies Kvarner and Helios into a new company under the name Wiener Osiguranje in 2013 was an important step in further strengthening customer-orientation and ensuring efficient market development.
Acquisitions in Poland and Hungary
The agreement to acquire the life insurance company Skandia Poland that was concluded in November 2013 allows VIG to considerably strengthen its successful position in this market. Just one month later, an agreement was concluded to acquire AXA Biztosító, allowing VIG to expand its portfolio in Hungary with a focus on the life insurance segment. Both acquisitions are subject to approval by the regulatory and antitrust authorities.