Vienna Insurance Group
| VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe
|
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|---|---|
 |
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| legal form | Corporation |
| ISIN | AT0000908504 |
| founding | 1824 |
| Seat |
Vienna , Austria
|
| management |
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| Number of employees | 25,947 |
| sales | 9.657 billion euros (premiums written, 2018) |
| Branch | Insurance |
| Website | www.vig.com |
| As of December 31, 2018 | |
The Vienna Insurance Group AG Wiener Versicherung Gruppe ( VIG ) is one of the largest insurance groups in Europe and one of the leading insurance groups in Austria as well as Central and Eastern Europe. The Austrian company emerged from the Wechselseiten kk private fire damage insurance company founded in 1824 . The Vienna Insurance Group has its corporate headquarters in the Ringturm , Vienna's first high-rise office building built in 1955. VIG is focused on the CEE region and is one of the few international insurance groups to pursue a local multi-brand strategy.
history
The history of the company goes back to the year 1824 when the Wechselseiten kk private fire damage insurance company was founded .
Beginning with the establishment of the Kooperativa in what was then Czechoslovakia at the end of the 1980s, the group began its expansion into Central and Eastern Europe. After the company was converted into a stock corporation in 1994 , eleven percent of the share capital was brought to the Vienna Stock Exchange in the form of preference shares . In 2005 the Vienna Insurance Group made the largest acquisitions to date in Central and Eastern Europe - in Poland, the Czech Republic, Romania, Ukraine and Croatia. In the same year the company converted its preferred shares into common shares and also carried out a capital increase .
In the course of internationalization in 2006, the Vienna Insurance Group umbrella brand was introduced. The name or brand of the group companies in Central and Eastern Europe is made up of the local name and the addition Vienna Insurance Group.
In 2008, another capital increase took place to finance the takeover of s Versicherung , the insurance division of Erste Group Bank AG , which made the Vienna Insurance Group the market leader in Central and Eastern Europe. As a result, a long-term distribution agreement was signed with Erste Group Bank. The cooperation between the two companies is an important part of their expansion strategy in Central and Eastern Europe . In May 2018, the cooperation agreement between Erste Group Bank AG and the Vienna Insurance Group was prematurely extended to 2033.
In 2010, it was decided at the Annual General Meeting to spin off the insurance operations in Austria into a wholly owned subsidiary. This company is called Wiener Städtische Versicherung AG Vienna Insurance Group and, as VIG's largest single company, operates the operational insurance business in Austria. The listed group holding company bears the name Vienna Insurance Group AG Wiener Versicherung Gruppe and carries out important control tasks across borders. After the official approval, the new group structure has been in place since August 3, 2010.
management
Elisabeth Stadler has been the Group's CEO since January 1, 2016. In 2018 and 2020 there were further changes in the board. Liane Hirner and Peter Thirring have been part of the VIG Executive Board since 2018. On January 1, 2020, Gerhard Lahner, Gábor Lehel and Harald Riener were appointed to the board.
The Management Board of the Vienna Insurance Group currently consists of eight members:
- General Director Elisabeth Stadler ( Chairwoman and CEO )
- Board director Franz Fuchs
- Director Liane Hirner WP / StB ( CFO )
- Board director Peter Höfinger
- CEO Gerhard Lahner
- Board director Gábor Lehel
- Board director Harald Riener
- CEO Peter Thirring
The supervisory board consists of ten members and is headed by Günter Geyer.
The former mayor of Vienna, Helmut Zilk, was formerly Chairman of the Supervisory Board of the “Wiener Städtische Versicherungsverein”, the main shareholder of VIG.
Group and shareholder structure
At the Annual General Meeting in 2010, it was decided to restructure the company. The operational insurance business in Austria was dissolved by VIG and spun off into the largest subsidiary to date, “Wiener Städtische”. The holding company "Vienna Insurance Group AG Wiener Versicherung Gruppe" thus created primarily has cross-border control and infrastructure tasks.
Wiener Städtische Versicherungsverein is the main shareholder of the Vienna Insurance Group with a stake of around 70% and deals with fundamental strategic issues of the group and the promotion of cultural and social activities. Around 30% of VIG shares are in free float.
Markets and holdings
The Vienna Insurance Group is represented in 25 countries in Austria, Central and Eastern Europe. Overall, the group generates more than half of its premiums in the CEE countries.
The Vienna Insurance Group's markets are as follows: Austria , Czech Republic , Slovakia , Poland , Romania , Bulgaria , Hungary , Serbia , Croatia , Montenegro , Republic of Moldova , North Macedonia , Albania , Turkey , Estonia , Latvia , Lithuania , Ukraine , Belarus , Bosnia and Herzegovina , Georgia as well as Germany and Liechtenstein . There are branches of Wiener Städtische Versicherung in Italy and Slovenia .
| market | Group companies | Market entry |
|---|---|---|
| Austria | Wiener Städtische Versicherung , Donau Versicherung | 1824 |
| Germany | InterRisk | 1990 |
| Czech Republic | Kooperativa, Česká podnikatelská pojišťovna (ČPP), VIG Re (headquarters; branches in Germany and France) | 1990 |
| Slovakia | Cooperativa; Komunálna poisťovňa | 1990 |
| Hungary | Union Biztosító | 1996 |
| Poland | Compensa, Compensa Non-Life, InterRisk, Vienna Life, Wiener | 1998 |
| Liechtenstein | Vienna-Life | 1999 |
| Italy | Wiener Städtische (branch office) | 1999 |
| Croatia | Viennese osiguranje | 1999 |
| Romania | Omniasig , Asirom , BCR Asigurari | 2001 |
| Bulgaria | Bulstrad, Bulstrad Life, Nova Ins, Doverie | 2002 |
| Belarus | Kupala | 2002 |
| Serbia | Wiener Städtische Osiguranje, Wiener Re Beograd | 2003 |
| Slovenia | Wiener Städtische (branch office) | 2004 |
| Ukraine | Kniazha, Kniazha Life, Globus, UIG | 2004 |
| Georgia | GPIH, IRAO | 2006 |
| North Macedonia | Winner, Winner Life, Makedonija Osiguruvanje | 2007 |
| Albania | Sigma Interalbanian, Intersig | 2007 |
| Turkey | Ray Sigorta | 2007 |
| Estonia | BTA (branch), Compensa Life, Compensa Non-Life (branch), Seesam | 2007 |
| Latvia | BTA, Compensa Life (branch) Compensa Non-Life (branch), Seesam (branch) | 2007 |
| Lithuania | BTA (branch), Compensa Life (branch), Compensa Non-Life, Seesam (branch) | 2007 |
| Montenegro | Wiener Städtische Zivot | 2010 |
| Bosnia Herzegovina | Wiener Osiguranje, Vienna Osiguranje | 2011 |
| Moldova | Donaris | 2014 |
Stock exchange listing
VIG has an “A +” rating with a stable outlook from the internationally recognized rating agency Standard & Poor's and thus continues to have the best rating of all companies in the ATX, the leading index of the Vienna Stock Exchange. The group is listed on the Prime Market of the Vienna Stock Exchange and is included in the ATX and CEETX indexes . Vienna Insurance Group shares have also been listed on the Prague Stock Exchange since 2008.
Individual evidence
- ↑ a b vig.com: Annual Report 2018. Retrieved on May 20, 2019 .
- ↑ Changes to the management board at Vienna Insurance Group, Wiener Städtische and DONAU Versicherung. Retrieved January 7, 2020 .
- ^ Vienna Insurance Group AG Wiener Versicherung Gruppe: A success story in the heart of Europe. Christian Brandstädter Verlag, Vienna 2011, ISBN 978-3-85033-617-8 , p. 164.
- ↑ vig.com: shareholder structure. April 24, 2012. Retrieved July 27, 2012 .
- ↑ Wirtschaftsblatt.at: Vienna Insurance Group is heading for record profits. November 27, 2012, archived from the original on December 11, 2015 ; Retrieved December 5, 2012 .
- ↑ vig.com: VIG in CEE. November 2012, accessed December 5, 2012 .
- ↑ Company rating: Vienna Insurance Group - Wiener Versicherung Gruppe. Retrieved December 10, 2018 .
Coordinates: 48 ° 13 ′ 2 ″ N , 16 ° 22 ′ 13 ″ E