Vienna Insurance Group
|Traded as||WBAG: VIG
|Key people||Peter Hagen (CEO), Wolfgang Ruttenstorfer (Chairman of the supervisory board)|
|Products||Life and non-life insurance|
|Profit||€406.8 million (2011)|
|Total assets||€39.77 billion (2011)|
|Total equity||€5.050 billion (2011)|
Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) with its registered office in Vienna, Austria, is one of the largest international insurance groups in Central and Eastern Europe with approximately 25,000 employees and a premium volume of around EUR 8.6 billion.
History of Vienna Insurance Group dates back to 1824, with the founding of the k.u.k. priv. wechselseitige Brandschaden Versicherung.
In the end of the 1980s, the company started expanding in central and eastern Europe, founding Kooperativa in Czechoslovakia.
In 1994, the company was transformed into a corporation, and 11% of the stock was introduced on the Vienna Stock Exchange, in the form of preferred shares. Those were changed into common shares in 2005, as the company increased its capital by about €900 million to finance acquisitions.
In 2006, the brand Vienna Insurance Group was introduced as a global brand. In central and eastern Europe, subsidiaries often use it next to their original name.
In 2008, a new capital increase permitted the acquisition of the insurance business of Erste Group, which turned VIG to the market leader in central and eastern Europe. Simultaneously, a long-term sales agreement was signed with Erste Group.
During the 2010 shareholder meeting, it was decided to create a 100% subsidiary for the insurance business in Austria, Wiener Städtische Versicherung AG Vienna Insurance Group.
From 2001 until May 2012, Günter Geyer acted as the CEO of the Vienna Insurance Group. Since June 1st, Peter Hagen is the new General Manager.
- General Manager (CEO) Peter Hagen
- Member of the Managing Board Martin Simhandl (CFO)
- Member of the Managing Board Franz Fuchs
- Member of the Managing Board Peter Höfinger
The supervisory board consists of ten members, with Wolfgang Ruttendorfer being chairman.
With its internationalisation strategy in the CEE economic region, Vienna Insurance Group made the transition from a national insurance company to an international insurance group with more than 50 insurance companies in 25 countries. In total, about 50% of all group premiums already come from the Central and Eastern European markets.
Vienna Insurance Group is active in Austria, Albania, Bulgaria, Germany, Estonia, Georgia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia, Czech Republic, Turkey, Hungary, Ukraine, Belarus and Bosnia and Herzegovina through interests it holds in insurance companies. The Group also has branch offices in Italy and Slovenia.
|Market||Group Company||Market Entry|
|Austria||Wiener Städtische; Donau Versicherung; Sparkassen Versicherung||1824|
|Italy||Wiener Städtische (branch), Donau Versicherung (branch)||1999|
|Slovenia||Wiener Städtische zavarovalnica (branch)||2004|
|Poland||Compensa; BENEFIA; InterRisk; PZM; Polisa||1998|
|Czech Republic||Kooperativa; ČPP; PČS; VIG Re||1990|
|Slovakia||Kooperativa; Komunalna; PSS||1990|
|Croatia||Wiener osiguranje; Erste osiguranje||1999|
|Serbia||Wiener Städtische Osiguranje||2002|
|Montenegro||Wiener Städtische Podgorica||2010|
|Macedonia||Winner; Winner Life; Makedonija Osiguruvanje||2007|
|Albania||Sigma; Intersig; Interalbanian||2007|
|Hungary||Union Biztosító; Erste Biztosító||1996|
|Bulgaria||Bulstrad; Bulstrad Life||2002|
|Romania||Omniasig; Asirom; BCR Life||2001|
|Ukraine||Jupiter; Kniazha; Globus; UIG||2004|
|Estonia, Latvia, Lithuania||Compensa Life||2008|
|Bosnia and Herzegovina||Jahorina||2011|
Since 1992 the company is listed on the Vienna Stock Exchange, and since 2005 it has been a member of the Austrian Traded Index. The major shareholder is Wiener Städtische Wechselseitige Versicherungsanstalt-Vermögensverwaltung, with a stake of about 70%.
- "Annual Report 2011" (PDF). Vienna Insurance Group. Retrieved 29 October 2012.
- "PZU, Vienna Insurance in the race for Lithuania's top insurer". Reuters. 27 March 2014. Retrieved 28 March 2014.
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