This makes VIG one of the companies with the best rating in the leading index of the Vienna Stock Exchange.
Since the end of 2023, Standard & Poor's has been analyzing the risk-based capital of insurance companies based on a new capital model. Even according to these adapted criteria, VIG shows considerable capital surplus in an extreme stress scenario at the highest confidence level of 99.99%. S&P cites the Group's very good performance in 2023 as confirmation of its capital strength and top rating, which is reflected, among other things, in solid underwriting results, a stable combined ratio and a comparatively high new business margin in life and health insurance. According to S&P, the strict pursuit of conservative capital and financial management also contributed to the significant capital surplus and the smooth transition to IFRS 17.
In addition to the robust capital base, the rating agency also cites VIG's market leadership in Austria and several countries in Central and Eastern Europe. The broadly diversified insurance portfolio with strong sales capacities and the bancassurance cooperation with Erste Group are also mentioned. The conservative reinsurance strategy, which limits the group's natural catastrophe losses from various storm events in Austria and CEE, is also highlighted positively.
Stable outlook
According to S&P, the leading market positions of numerous VIG companies in Austria and several CEE countries support the stable outlook. The rating agency assumes that VIG will continue to exploit its growth opportunities in the next two to three years.
Based on this capital base and its successful business model, the Vienna Insurance Group is ideally positioned to participate in the disproportionate growth of the CEE region and to support its customers as a strong partner.
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