07/03/2024 Natixis FIG Sustainable Virtual Conference 2024
WE ARE A WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994
Represented in
30
markets
Around
29,000
employees serve roughly 28mn customers
Solvency Ratio
280%
as of
2 STRATEGY
More than
50
insurance companies and pension funds
S&P Rating
A+
with stable outlook
Dividend per share for 2022:
€1.30
Continuous dividend payout since 1994
Insurance service revenue1
Special Markets
5.2%
Extended CEE
28.9%
34.2%
11.6%
20.1%
1 IFRS 17/9 preliminary, unaudited data as of
VIG
VIG - LEADING INSURANCE GROUP IN CEE
VIG as early mover with excellent market shares
Top 3
Albania Baltic states Bulgaria Czech Republic Hungary
|
Country |
Market positions |
||
|
Non-life |
Life |
Total |
|
|
|
1 |
1 |
1 |
|
|
1 |
1 |
1 |
|
|
4 |
5 |
4 |
|
|
2 |
1 |
1 |
|
|
1 |
2 |
1 |
|
|
1 |
1 |
1 |
|
|
3 |
2 |
1 |
|
|
2 |
6 |
2 |
Total Market Share
22.6%
31.7%
8.9%
27.1%
22.6%
19.4%
13.6%
11.5%
NO
SE
DK
DE
CZ
1
EE
2
LV
1
LT
1
BY
PL
SK
1
>Top 3
UA
2
FR
|
LI |
AT |
|
1 |
|
HU
MD
Special
VIG operating in:
|
20 |
+ |
10 |
|
Core Markets |
Special Markets |
Source: local authorities; data FY 2022 (
SI
HR
IT
1RO
1
RS
BA 3
|
BG |
|
|
|
1 |
AL MK 2 1
Markets
TR
|
3 STRATEGY |
VIG |
HIGHLIGHTS 2023 AND WHAT TO EXPECT FROM
Strong performance in an already challenging environment gives confidence for 2024
2023:
- Group profit before taxes for the full-year 2023 on the upper end of the target range of € 700 - 750 million expected
- Since
July 2023 , Hartwig Löger new CEO of the Group andPeter Höfinger new Deputy CEO - New dividend policy reflects the resilience of the business model. The minimum dividend has been set at the respective previous year's level. Dividend to increase continuously depending on the operating earnings situation
- Closing of the acquisition of Aegon CEE businesses
- VIG increased its stake in the Hungarian Business to 90% in
Nov. 2023
2024:
- Sustained positive operating performance
- Continuation of the strategic initiatives of VIG 25
- Maintaining our focus on organic growth incl. potential M&A activities within CEE
- Merger of
Polish Group companies to strengthen market position inPoland - Main risks are geopolitical issues, capital market volatility and extreme weather
4
|
STRATEGY |
VIG |
6
5
4
3
2
1
0 -1
TAKING ADVANTAGE OF THE LONG-TERM GROWTH POTENTIAL IN CEE
Annual insurance spending as indicator for growth potential
|
Insurance density 2022 (premiums per capita, in €) |
Insurance density in 2022 in |
||||||||||||||||||
|
1,328 |
|
||||||||||||||||||
|
744 |
|||||||||||||||||||
|
509 |
438 |
414 |
410 |
402 |
387 |
360 |
|||||||||||||
|
272 |
176 |
176 |
174 |
167 |
|||||||||||||||
|
130 |
100 |
76 |
62 |
||||||||||||||||
|
49 |
32 |
||||||||||||||||||
|
|
Republic |
|
|
|
|
|
|
|
|
|
Türkiye |
|
|
|
|
|
|
|
|
|
Czech |
|
North |
GDP growth forecast (real change in % against previous year)
6.0
|
3.8 |
3.8 |
||||||||||||||||||||
|
3.7 |
3.6 |
||||||||||||||||||||
|
3.4 |
|||||||||||||||||||||
|
3.3 |
3.3 |
3.0 |
3.0 |
3.0 |
3.0 |
3.2 |
3.0 |
2.8 |
3.0 |
||||||||||||
|
2.7 |
2.7 |
||||||||||||||||||||
|
2.6 |
|||||||||||||||||||||
|
2.4 |
|||||||||||||||||||||
|
|
Republic |
|
|
|
|
|
|
|
|
|
Türkiye |
|
|
|
|
|
2024 |
2025 |
2026 |
|
|
Czech |
|
North |
|
|
|
|||||||||||||||
|
Source: VIG internal calculation ( |
||||||||||||||||||||
|
5 |
VIG |
|||||||||||||||||||
|
STRATEGY |
|
OUR SUCCESS IS FOUNDED ON A DIVERSIFIED AND RESILIENT BUSINESS MODEL BASED ON PROVEN MANAGEMENT PRINCIPLES
Local entrepreneurship
Multi-brand policy
- Knowledge of local needs and markets
- Decentralised structures & efficient decision-making procedures
VIG Holding responsible for steering the Group
- Utilisation of established local brands Local identification through market-specific brand(s)
- "
Vienna Insurance Group " underlines the Group's internationality and strength
Multi-channel distribution
11%
25%
Conservative investment and reinsurance policies
|
|
Various distribution channels |
|
(incl partnership with Erste |
|
|
Group) |
|
|
|
Strongly customer-oriented |
56%
8%
Focus on secure and sustainable investments
Spreading risk by means of diversification
|
distribution |
Employed sales forces & tied agents Banks
Brokers & agents
Other
2022
Financial assets in balance sheet according to IFRS 17/9
6
|
STRATEGY |
VIG |
VIG 25 SECURES FURTHER DYNAMIC DEVELOPMENT
Initiatives and projects to optimise, enhance and expand VIG's business model
|
STRATEGIC TRENDS |
DEVELOPMENTS |
OBJECTIVES
VIG 25 STRATEGIC
DIRECTIONS & INITIATIVES
|
OPTIMISE |
ENHANCE |
EXPAND |
CO³
COUNTRYCOMMUNICATION
PORTFOLIOSCOLLABORATION
COOPERATION
VIG PRINCIPLES
Optimise operational excellence by
- simplification and automation of processes
- exchange and implement best practices
- further optimisation in underwriting and pricing
Enhancecustomer value and access including partnerships and platforms
- increase visibility and attractiveness of products
- moving towards a hybrid sales model
Expand value chain beyond insurance
- focus on asset management
- become more active in pension fund business
|
7 STRATEGY |
VIG |
GROUP-WIDE SUSTAINABILITY PROGRAMME COMPLEMENTS VIG 25 STRATEGIC PROGRAMME
Further strengthening sustainability as an integral part of our business model
VIG's Strategic Objectives
Expanding the leading market position in the CEE region
Creating sustainable value
Sustainability objectives with respect to environment, society, customers and employees
STRATEGIC
PROGRAMME
SUSTAINABILITY
PROGRAMME
Key areas of VIG 25
Digital transformation
Further increasing the efficiency and productivity of the operating business thereby continuing and intensifying the associated digital transformation
Customer approach
Developing new ways to approach and retain customers in order to respond to changing consumer expectations and behaviours
Awareness of risk provision
Promoting consumer understanding of the importance of risk provisions
Sustainability
Further strengthening the concept of sustainability as an integral part and foundation of the business model
8
|
STRATEGY |
VIG |
VIG 25 SUSTAINABILITY PROGRAMME
Sustainability in VIG means creating economic value today without doing so at the expense of tomorrow
Objectives
Social focus Environmental focus
Objectives
- Promote risk literacy
- Grow corporate volunteering
Focus on customer satisfaction
Close the protection gap
SUSTAINABILITY
ALONG OUR
BUSINESS MODEL
- Reduce emissions of investment
portfolio to net zero by 2050
Reduce emissions of corporate and
retail underwriting portfolios to net
zero by 2050
Increase the share of sustainable products
- Attractive employerwith equal opportunities for all
- Employee focus
Climate neutral operation of our offices by 2030, net zero by 2050
9
|
STRATEGY |
VIG |
VIG IN A NUTSHELL
|
Well diversified |
Resilient |
VIG 25 strategic |
Sustainability |
M&A based on |
Strong |
|
over countries |
|||||
|
programme as |
strong footprint |
capitalisation |
|||
|
and lines of |
business model |
programme |
|||
|
integral part of |
and selective |
and continuous |
|||
|
business |
|||||
|
the business |
approach |
dividend payer |
|||
|
model |
- Leading insurance Group in CEE
- Operating in 30 markets
- Providing insurance solutions for all lines of business to around 28 million customers
- Local entrepreneurship
- Multi-brandpolicy
- Multi-channeldistribution
- Conservative investment & reinsurance policies
- Binding compliance and governance framework
- Optimising, enhancing and expanding VIG's business model
- Expanding the leading market position in the CEE region
- Creating sustainable value
- Cooperation, collaboration and communication are key
- Six spheres of impact
- Asset Management, Underwriting and Operations with environmental focus
- Social focus in the areas of Employees,
Customers and Society
- Over 30 years of M&A experience in CEE
- Taking advantage opportunities and growth potentials in the region
- Most recent acquisition: Aegon CEE business in HU, PL, RO and Türkiye
- A+ Rating with stable outlook (S&P)
- Solvency Ratio in HY 2023: 282%
- Book value per share: HY 2023: € 42.32
- Continuous dividend distribution every year since 1994
- Dividend yield 2022: 5.8%
10
|
STRATEGY |
VIG |
Attachments
Disclaimer


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