VIG Re, 1H2019: GWP amounted EUR 273 million, 15.2% more than previous year level

VIG RE zajis'ovna a.s. (VIG Re), the branch of Vienna Insurance Group specialized in reinsurance solutions, registered a total of EUR 273 million in terms of gross written premiums at the end of June 30th, 2019, which represents an increase of 15.2% year-on-year.


1H2019 financial figures (vs. 1H2018)

  • Gross written premiums (GWP): EUR 272.9 million (+15.2%)
  • Net earned premiums: EUR 132.1 million (+11.7%)
  • Investment result: EUR 6.8 million (+7.0%)
  • Claims and insurance benefits: EUR 90.6 million (+26.8%)
  • Acquisition expenses: EUR 33.1 million (-12.0%)
  • Profit for the period: EUR 10.2 million (-8.5%)


Although VIG Re premiums increased in their total volume, the company faced a considerable increase in claims and expenses. For the first half of current year, the claims and insurance benefits paid by VIG Re reached EUR 90.6 million (+26.8% change y-o-y). Meanwhile, the acquisition expenses decreased by over 12 percent, amounting EUR 33.1 million.

VIG Re finished the first half-year of 2019 with a positive net income. The profit at the end of the period was EUR 10.2 million, 8.5 percent smaller than in the first half of 2018.

Since its founding in August 2008, VIG Re maintained an "A+ stable outlook" rating from S&P Financial Services, rating most recently re-confirmed in September 2018. More information about the company can be found on VIG Re website.


Source: VIG-Re.com

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