Vienna Insurance Group confirms highly successful 2023 financial year
In its reports covering the 2023 financial year, published today, Vienna Insurance Group (VIG) has confirmed its preliminary figures communicated on 12 March 2024: strong growth across all segments and lines of business, considerable profit growth and a clear positioning as the number one in the CEE region.
Success through diversity
As a group that comprises more than 50 insurance companies and pension funds across 30 countries, VIG counts on local entrepreneurship.
Our diversification across markets, brands, products and distribution channels allows us to act with utmost proximity to our clients and with great flexibility. A strength that is also clearly reflected in our results and allows for a positive outlook for 2024.
Insurance service revenue amounted to EUR 10.9 billion (+12%) in 2023, and the result before taxes increased to around EUR 773 million (+32%). As a result of this extremely positive business development and the strong solvency ratio of 269%, the VIG management team will propose that the dividend be increased from the previous year's figure of EUR 1.30 per share to EUR 1.40 per share at the Annual General Meeting on 24 May 2024. All information regarding the results can be found in the online Group Annual Report entitled "Added value through Diversity".
Sustainability as a business model
The Group's diversity also creates added value in terms of sustainability and is being continuously strengthened as an integral part of the business model. The VIG 25 sustainability programme, which covers the entire Group, pursues both environmental and social objectives. Hartwig Löger on VIG’s sustainability strategy: "In addition to our goal of reducing greenhouse gas emissions in the areas of asset management, underwriting and operations to 'net zero' by 2050, we also attach a great deal of importance to the social aspect of sustainability, and therefore address customers, employees and society as a whole. Our Group has been embodying social responsibility and solidarity for 200 years. The VIG 25 programme allows us to shape the topics of our time in a future-oriented way". The VIG Sustainability Report is also available for download from today. Its title, "Diversity with added value", ties in with that of the annual report, thereby emphasising the interconnection of VIG's strategic priorities.
The following reports are available on the website: https://group.vig/en:
- 2023 Group Annual Report
- 2023 Sustainability Report
- 2023 VIG Holding Annual Financial Statements
- VIG Holding Solvency and Financial Condition Reports (German only)
- VIG Allocation & Impact Report
