VIG in the first half of 2023

Vienna Insurance Group presenting results in accordance with IFRS 17/9 for first time

EUR 5.4 bn
Insurance service revenue
94.0 %
Net Combined Ratio (P&C)
EUR 462.9 mn
Result before taxes
EUR 5.25
Earnings per share (annualised)
282 %
Solvency ratio
15.8 %
Operating Return on Equity


On track to achieve projected results for 2023 thanks to double-digit premium growth and significant increase in result before taxes

    • Gross written premiums increased by 10.8 % to EUR 7.3 billion: Premium growth in all segments
    • Insurance Service Revenue increased by 13.7 % to EUR 5,380 million
    • Results before taxes improved significantly to EUR 463 million
    • As of 30 June 2023, Contractual Service Margin (CSM) stands at EUR 5,935 million
    • Strong solvency ratio of 282%


First time preparation of half-year results in accordance with the accounting standards IFRS 9 and IFRS 17, which have been applicable since 1 January 2023, already showed the expected increased volatility of results due to the changes in the interest rate environment. The objectives set for financial performance indicators and the dividend policy are therefore currently being reviewed in accordance with the amended accounting standards.

The development of the financial year 2023 is generally difficult to assess due to a number of uncertainty factors, especially associated with the ongoing war in Ukraine and its far-reaching consequences. The weaker macroeconomic environment and the high levels of volatility expected on the financial markets make it harder to predict the business development. In addition, the effects of adverse weather events can be expected to reduce results in the 2nd half of 2023. Subject to the factors mentioned above and massive interest rate and market fluctuations and given the current ongoing weather extremes, VIG expects the Group’s result before taxes to be in the range of EUR 700–750 million for the full-year 2023 under IFRS 17/9.

Photos from the VIG Board
Against a backdrop of continuing challenges such as the ongoing war in Ukraine, high inflation, and an uncertain economic outlook, VIG’s performance in the first half of 2023 is extremely positive. Our excellent capital position and our business model with a strong regional focus – which allows rapid, customised action where required – remain fundamental factors behind our continuing success in very challenging times.
Hartwig Löger CEO

The results in Charts

6M 2023 VIG News Release
pdf (219 KB) 30/08/2023
6M 2023 VIG Presentation
pdf (812 KB) 30/08/2023
6M 2023 VIG Financial Supplement
xlsx (193 KB) 30/08/2023
6M 2023 VIG Teleconference
mp3 (29368 KB) 30/08/2023
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