VIG Re announces its final, audited financial results for 2024. It marks a successful year in terms of underwriting result and gross written premium, despite continued above-average catastrophe losses across the insurance industry.

The main results of last year can be summarized as follows:

• Gross written premium: EUR 983.3 million (up 9.2% year-on-year)
• Profit before tax: EUR 41.6 million
• Return on equity: 10.2%
• Solvency ratio: 192%

VIG Re reports its preliminary, unaudited results for the full year 2024. Gross written premiums grew by 9.2% to EUR 983.3 million, driven by growth in both third-party reinsurance and VIG business segments. The company delivered excellent financial results despite above-average catastrophe losses, including the European floods in VIG Re’s core territory, demonstrating its underwriting discipline and resilience.

"2024 was a significant year for VIG Re," commented Tobias Sonndorfer, Chairman and Chief Executive Officer of the Board of Management of VIG Re. "Our strong performance reflects the full commitment and client focus of our teams in combination with solid risk assessment. We are actively investing in our future by expanding our market reach and enhancing our analytical and digital capabilities to continuously foster our reputation as a premium reinsurance brand in Europe."

Peter Thirring, Chairman of the Supervisory Board of VIG Re, added, "VIG Re’s 2024 results are a testament to strong leadership, a highly skilled team, and a robust business model. The company's focus on prudent underwriting, risk management, and client needs has allowed it to thrive even in challenging market conditions. With Mr. Sonndorfer recently appointed to lead the company, the Supervisory Board fully supports VIG Re's course and its continued growth trajectory.”

Full details of the financial results for 2024 are available in the company's Annual Report now accessible on https://www.vig-re.com/.