The new accounting standards IFRS 9 and IFRS 17 apply from 1 January 2023 onwards and change how results are presented. However, IFRS 17/9 does neither change VIG's strategy, nor how we run our business.
IFRS 17/9 Follow-Up 17 July 2023
IFRS 17/9 Follow-up
FY 2022 IFRS 17/9 highlights
Insurance service revenue of EUR 9.7 bn below IFRS 4 GWP mainly driven by removal of investment component in life business.
Calculation of Combined Ratio on a net basis considering attributable expenses leads to a solid P&C CoR of 92.3%.
Profitable new business in Life & Health with a favorable margin of 5.8%.
Event Replay 17 July 2023
In this virtual event Liane Hirner, CFRO, Roland Goldsteiner, Head of Finance and Werner Matula, Chief Actuary showed the effects on VIG's accounting based on available comparative FY 2022 figures under IFRS 17/9.
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