VIG confirms preliminary FY2023 results with strong growth across all segments and divisions

24 April 2024 — Daniela GHETU
With its reports published today for the 2023 financial year, the Vienna Insurance Group (VIG) confirms the preliminary figures communicated on March 12, 2024: strong growth across all segments and divisions, a significant increase in earnings and the clear positioning as number 1 in CEE.

As a group with more than 50 insurance companies and pension funds in 30 countries, VIG relies on local entrepreneurship, the VIG’s press release said, quoting Hartwig LÖGER, Chairman of the Board of VIG: “Thanks to our diversification across markets, brands, products and sales channels, we operate with maximum customer proximity and great flexibility. A strength that is also clearly reflected in our business results and enables a positive outlook for 2024.”

The insurance service revenue in 2023 amounted to EUR 10.9 billion (+12% y-o-y), and the profit before taxes rose to around EUR 773 million, by +32% more y-o-y. Due to this very positive business development and the high solvency ratio of 269%, VIG management will propose an increase in the dividend compared to the previous year from EUR 1.30 to EUR 1.40 per share at the Annual General Meeting on May 24, 2024. All information on the business results can be accessed via the online group report “Added value through diversity”.

The diversity of the group also creates added value when it comes to sustainability and is continually deepened as an integral part of the business model. The VIG 25 sustainability program, which spans the entire group, pursues both ecological and social objectives. Hartwig LÖGER on VIG's sustainability strategy: “In addition to our goal of reducing greenhouse gas emissions in the areas of investment, underwriting and office operations to 'net zero' by 2050, we also attach great importance to the social aspect of sustainability and thus address customers, employees and the Company. Our group has lived social responsibility and solidarity for 200 years. Through the VIG 25 program, we map the issues of our time in a future-oriented manner. The VIG sustainability report is also available for download from today. Its title “Diversity with added value” ties in with that of the annual report and thus emphasizes the interconnection of strategic priorities.

The following reports are available on the website :