Highlights from Austria

Austria is not only where VIG’s historical roots are located. In terms of premiums, it is also the largest single market in the Group. With a total market share of 23.9%, VIG is the leading insurance group in Austria. Even when considered individually, the VIG companies Wiener Städtische, Donau Versicherung and s Versicherung still hold leading positions in their lines of business.

Although VIG Holding operates out of Austria as an international reinsurer and a contact for cross-border corporate customers, it is assigned to the “Central Functions” segment. more

New pension plans

2013 provided impressive proof of the outstanding ability of VIG companies to perceive and react quickly and flexibly to changes in the statutory framework and requirements. New legislation in the middle of 2013 redesigned government sponsored pension plans in order to make them more attractive and transparent. To reflect the higher level of capital market volatility, the statutory requirements provide new share quota ranges for investments made for these products.

All three VIG companies introduced innovative, flexible products in 2013 in response to this change in the legal framework. Wiener Städtische revised its Premium Pension product to provide numerous benefits for existing and new customers. In addition to the security provided by the capital guarantee and the government subsidy, these include the option to choose between three forms of investment with different share quotas: security-oriented, growth-oriented and risk-oriented investment. Moreover, it is possible to switch between these alternatives. Customers can also now freely choose between the three different investment alternatives offered by Donau Versicherung’s new “BonusPension” product, and s Versicherung has as well modified its “s Privat-Pension mit Prämien-Plus” product (s Private Pension with Premium Plus) to adjust to the new statutory framework.