Vienna Insurance Group presents good results for first half of 2022


Significantly more premiums and profits, combined ratio improves considerably

  • Premium volume increases by 11.6% to EUR 6.44 billion
  • Profit before taxes rises by 10.3% to EUR 277.3 million
  • Combined ratio improves by 0.9 percentage points to 94.3%
  • Solvency ratio of VIG Group increases to 285%

Vienna Insurance Group (VIG) continues the excellent business development with its half-year results for 2022. The most important key figures show significant improvements compared to the same period in the previous year.

”We still experience very challenging times, marked primarily by the war in Ukraine, high inflation and the pandemic, which is still making its effects felt. Although these influences – which also have an impact on the insurance industry – are clouding the economic outlook, VIG Group continues to show very strong resilience, which is once again manifested in improved key figures. The success of our Group is built on a long-term oriented and broadly diversified business model, which shows its strengths especially in particularly challenging periods. The half-year results make us confident that we will achieve a positive operating performance in 2022”, explains CEO Elisabeth Stadler.

Non-life business drives around 12% rise in premiums

In the first half of 2022, the premium volume increased significantly by 11.6% to EUR 6,443 million (excluding Aegon companies). All lines of business and all VIG segments are showing a rise in premiums compared to the first half of the previous year. The significant increase with double-digit growth rates is primarily due to the non-life lines of business (motor third-party liability EUR 975.2 million, +20.3%; motor own-damage insurance EUR 787.5 million, +11.1%; other property and casualty insurance EUR 3,323.7 million, +15.2%; and health insurance EUR 411.8 million, +11.9%). Life regular premium business accounts for EUR 1,418.2 million (+4.1%) and life single premium business for EUR 485.4 million (+8.9%). The largest premium increases were achieved in the Czech Republic, Austria and the Extended CEE segments, and here Romania and the Baltic States in particular recording high premium growth. 

Result before tax up by more than 10 percent and net income up by 8.6 percent  

The result before taxes of EUR 277.3 million was 10.3% higher than in the previous year. In addition to the measures already taken in the first quarter of 2022, this result includes further measures, meaning over three quarters of the approximately EUR 165 million exposure to Russian government and corporate bonds of the VIG Group have already been provided for in the first half of the year. The financial result (excluding the result from at-equity consolidated companies) is EUR 315.5 million (-10.1%) for the first half of 2022. At EUR 202.3 million, net income was 8.6% higher than in the previous year.

Combined ratio improves 0.9 percentage points

Both a lower cost and claims ratios led to a significant improvement in the combined ratio to 94.3% compared to the previous year (95.2%). The biggest improvements in the combined ratio were recorded in the segments Austria, Poland and Extended CEE, and here particularly Bulgaria and Albania, including Kosovo. 

Solvency ratio of 285%

VIG Group’s regulatory solvency ratio was 285% as of 30 June 2022, indicating that capital resources remain very strong and stable (including transitional measures, solvency ratio as of 31 December 2021 was 250%). 
VIG Group had EUR 34.4 billion in investments as of 30 June 2022.


Due to the war in Ukraine, Vienna Insurance Group has reviewed its current ”VIG 25” strategic programme: ”The initiatives launched in VIG 25 support the very positive current results and will continue to be consistently implemented following the evaluation regarding the current challenges”, explains Elisabeth Stadler. The development of the 2022 financial year remains affected by uncertainty, especially by the war in Ukraine and its unpredictable consequences. As a result, a year-end forecast is currently not being made. However, the VIG Group considers itself able to manage the challenges well and is aiming for a positive operating performance in 2022.

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