Vienna Insurance Group: Strong performance after first three quarters of 2022

Profit before taxes up by around 10%

•    Premiums up significantly by 13.6% to EUR 9.5 billion
•    Profit (before taxes) increased considerably by around 10% to EUR 413.4 million
•    Combined ratio improved slightly to 95.1%

In the midst of major geopolitical and economic challenges, Vienna Insurance Group (VIG) has reported a very positive development for the first three quarters of 2022. All key figures improved again compared to the same period in the previous year.

“Of course, like any company, we are feeling the effects of the current situation, with inflation being the main factor here. The situation is leading to increased claims expenses among other things, thereby weighing on the development of the combined ratio. Nevertheless, we are confident that our strategy of broad diversification will enable us to effectively manage the inflation risk overall. A risk assessment has demonstrated that our largest markets in terms of volume are well positioned due to the measures taken and the current pricing policy. We remain confident in the long-term growth potential of the CEE region, especially as the current forecasts for this region are once again clearly above those for the eurozone.

Full press release