The reinsurer mentioned, in terms of premiums, all segments contributed to the growth, with Property & Casualty up by 15.3%, Life by + 23% and Health by + 11.3%. At the same time, underwriting result for the year was affected by atmospheric events in Europe and in Japan.
Johannes Martin HARTMANN, VIG Re's Chairman of the Board of Directors:
"In 2019 we could further enhance our market position in Europe. Our underwriting continues to outperform, benefitting from a strict underwriting discipline and a prudent reserving policy. While the most discussed topics in 2019 were the impact of digitalization, climate change or a continued low interest environment on the business model of our industry, the global outbreak of Corona reminds us of the importance of our industry in strengthening the resilience of our society, better addressing the ever emerging risk landscape and most importantly to support our clients in times of need. In order to succeed here, a combination of financial strength, prudent underwriting and close engagement with our clients remains paramount for us."
Peter THIRRING, Chairman of the Supervisory Board of VIG Re:
"I am pleased that VIG Re can look back at a successful financial year 2019. For the first time since its existence, the Company exceeded the GWP above EUR 500 million and further pursued with the consistent and successful enhancement of its business strategy. Two years after VIG Re made the move into Continental Europe, its growth is ahead of expectations and the Company continues to further grow and transform the business. The Supervisory Board is confident that VIG Re will continue to have a significant influence in the reinsurance marketplace in the years to come".
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