Vienna Insurance Group (VIG) has announced a significant 11% rise in gross written premiums, reaching 4.3 billion euros in the first quarter of 2024. This increase reflects the company’s robust business performance and strategic growth across various regions.

In Q1 2024, VIG’s gross written premiums totaled 4.297 billion euros, up from 3.871 billion euros in the same period last year. CEO and Chairman Hartwig Löger highlighted the strong double-digit growth, attributing it to the overall solid performance of the business.

In Austria, premiums grew by 7.8% to 1.510 billion euros. Meanwhile, the Czech Republic saw a slight decrease of 0.6% due to exchange rate effects, bringing premiums to 621 million euros. Poland experienced a 7.9% increase, reaching 416 million euros. The extended CEE region, including countries such as Romania, Hungary, and the Baltic states, reported a 10% rise to 1.142 billion euros. Special Markets, which include Germany, Georgia, and Turkey, saw a remarkable 23.9% growth, totaling 349 million euros.

VIG’s solvency ratio remained strong at 262% as of March 31, 2024, underscoring the group’s excellent capitalization and financial stability.

Despite geopolitical uncertainties, VIG remains optimistic about its business outlook for 2024, supported by the positive economic developments in the CEE region. The management has reaffirmed its target of achieving a pre-tax profit between 825 million euros and 875 million euros for the fiscal year 2024.

Share

Share