Vienna Insurance Group

VIG's net profit rose 2.81% yoy to EUR 70.3 mil in 3Q2018

By Helgi Analytics - December 13, 2018

Vienna Insurance Group made a net profit of EUR 70.3 mil in 2018-09-30, up 15.0% when compared to the last year. This implies a ...

VIG's Net Written Premiums rose 2.68% yoy to EUR 2,163 mil in 3Q2018

By Helgi Analytics - December 13, 2018

Vienna Insurance Group generated total net revenues of EUR 2,465 mil in 2018-09-30, up 0.282% when compared to the previous year. ...

VIG's Intangible Assets fell 4.08% yoy to EUR 1,971 mil in 4Q2017

By Helgi Analytics - December 13, 2018

Vienna Insurance Group's total assets reached EUR 51,714 mil at the end of 2017-12-31, down 0% when compared to the previous year. ...

Profit Statement 2015 2016 2017
Gross Written Premiums EUR mil 9,020 9,051 9,386
Net Written Premiums EUR mil 8,181 8,191 8,510
Total Revenues EUR mil 9,371 9,301 9,657
Expenses For Claims & Benefits EUR mil 6,749 6,753 6,873
Total Cost EUR mil 9,324 8,894 9,214
Pre-Tax Profit EUR mil 47.1 407 443
Net Profit EUR mil -20.6 288 298
Dividends EUR mil 76.8 102 115
Balance Sheet 2015 2016 2017
Total Assets EUR mil 44,490 50,008 51,714
Intangible Assets EUR mil 1,989 2,055 1,971
Investments EUR mil 38,286 43,196 44,994
Reinsurance Assets EUR mil 1,031 985 1,066
Shareholders' Equity EUR mil 4,414 5,711 6,044
Liabilities EUR mil 40,075 44,297 45,670
Underwritting Provisions EUR mil 35,922 37,350 38,781
Ratios 2015 2016 2017
ROE % -0.437 6.49 6.33
ROA % -0.046 0.609 0.585
Net Margin % -0.220 3.09 3.08
Investment Yield % 2.72 2.22 2.05
Combined Ratio % 96.6 96.7 ...
Claims Ratio % 78.8 78.3 ...
Cost Ratio % 24.1 25.0 ...
Acquisition Cost (As % Of Premiums) % 17.8 18.4 ...
Equity (As % Of Assets) % 9.92 11.4 11.7
Valuation 2015 2016 2017
Price/Earnings (P/E) ... 9.47 11.1
Price/Book Value (P/BV) 0.733 0.477 0.546
Dividend Yield % 2.37 3.76 3.49
Earnings Per Share (EPS) EUR -0.161 2.25 2.32
Book Value Per Share EUR 34.5 44.6 47.2
Dividend Per Share EUR 0.600 0.800 0.900

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                    
Gross Written Premiums EUR mil ... ... ... ...               8,851 9,681 9,219 9,146 9,020    
Total Revenues EUR mil                       9,170 10,353 9,850 9,596 9,371    
Total Cost EUR mil ... ... ... ...               8,611 9,765 9,495 9,078 9,324    
Net Profit EUR mil                       407 446 234 367 -20.6    
balance sheet                                    
Cash & Cash Equivalents EUR mil ... ... ... ...               568 772 720 782 1,101    
Investments EUR mil ... ... ... ...               33,588 35,907 35,801 38,102 38,286    
Reinsurance Assets EUR mil ... ... ... ...               1,117 1,034 1,028 1,106 1,031    
Total Assets EUR mil ... ... ... ...               39,770 42,336 41,939 44,425 44,490    
Shareholders' Equity EUR mil ... ... ... ...               5,050 5,752 4,967 5,283 4,414    
Liabilities EUR mil ... ... ... ...               34,720 36,585 36,972 39,142 40,075    
Underwritting Provisions EUR mil ... ... ... ...               29,322 32,061 32,470 35,282 35,922    
ratios                                    
ROE % ... ... ... ... ...             8.78 8.89 4.59 7.41 -0.437    
ROA % ... ... ... ...               1.03 1.09 0.556 0.849 -0.046    
Net Margin %                       4.44 4.31 2.38 3.82 -0.220    
Investment Yield % ... ... ... ...               2.77 3.45 3.43 2.93 2.72    
Combined Ratio % ... ... ... ...               94.0 95.9 100 98.7 96.6   ...
Claims Ratio % ... ... ... ...               78.2 80.7 82.4 80.6 78.8   ...
Cost Ratio % ... ... ... ...               21.6 20.2 23.3 24.0 24.1   ...
Acquisition Cost (As % Of Premiums) % ... ... ... ...               15.8 15.2 17.7 18.2 17.8   ...
Administrative Cost (As % Of Assets) % ... ... ... ...               0.883 0.846 0.817 0.800 0.820   ...
Equity (As % Of Assets) % ... ... ... ...               12.7 13.6 11.8 11.9 9.92    
Life Insurance (As % Of Total Premium) % ... ... ... ...               44.6 47.7 ... ... ...    
Non-Life Insurance (As % Of Total Premium) % ... ... ... ...               55.8 52.3 ... ... ...    
valuation                                    
Market Capitalisation (End Of Period) USD mil ... ... ...                 5,080 6,820 6,392 5,745 3,524    
Number Of Shares (Average) mil ... ... ...                 128 128 128 128 128    
Share Price (End Of Period) EUR ... ... ...                 30.6 40.4 36.2 37.1 25.3    
Earnings Per Share (EPS) EUR ... ... ...                 3.18 3.49 1.83 2.87 -0.161    
Book Value Per Share EUR ... ... ... ...               39.5 44.9 38.8 41.3 34.5    
Dividend Per Share EUR ... ... ...                 1.10 1.20 1.30 1.40 0.600    
Price/Earnings (P/E) ... ... ...                 9.64 11.6 19.8 12.9 ...    
Price/Book Value (P/BV) ... ... ... ...               0.776 0.898 0.934 0.898 0.733    
Dividend Yield % ... ... ...                 3.59 2.97 3.59 3.78 2.37    
Earnings Per Share Growth % ... ... ... ...               7.09 9.70 -47.5 56.5 -106    
Book Value Per Share Growth % ... ... ... ... ...             0.391 13.9 -13.7 6.38 -16.4    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                    
Gross Written Premiums EUR mil ... ... ... ...               8,851 9,681 9,219 9,146 9,020    
Premiums Ceded To Reinsurers EUR mil ... ... ... ...               728 684 740 792 839    
Net Written Premiums EUR mil ... ... ... ...               8,123 8,997 8,479 8,354 8,181    
Financial Result EUR mil ... ... ... ...               932 1,241 1,227 1,117 1,040    
Other Income EUR mil ... ... ... ...               115 115 144 125 150    
Total Revenues EUR mil                       9,170 10,353 9,850 9,596 9,371    
Expenses For Claims & Benefits EUR mil ... ... ... ...               6,536 7,590 7,211 6,920 6,749    
Of Which Reinsurers' Share EUR mil ... ... ... ...               384 221 387 448 359   ...
Acquisition Cost EUR mil ... ... ... ...               1,403 1,468 1,630 1,663 1,605   ...
Administrative Cost EUR mil ... ... ... ...               350 347 344 345 365   ...
Other Cost EUR mil ... ... ... ...               322 360 418 283 727   ...
Total Cost EUR mil ... ... ... ...               8,611 9,765 9,495 9,078 9,324    
Other And Extra Cost EUR mil ... ... ... ...               0 0 0 0 0    
Pre-Tax Profit EUR mil ... ... ... ...               559 587 355 518 47.1    
Tax EUR mil ... ... ... ...               117 120 98.8 127 61.8    
Minorities EUR mil ... ... ... ...               35.2 21.1 22.0 24.6 5.82    
Net Profit EUR mil                       407 446 234 367 -20.6    
Dividends EUR mil ... ... ...                 141 154 166 179 76.8    
growth rates                                    
Gross Written Premiums Growth % ... ... ... ... ...             3.00 9.38 -4.77 -0.790 -1.38    
Net Written Premiums Growth % ... ... ... ... ...             3.34 10.8 -5.75 -1.48 -2.07    
Total Revenues Growth % ...                     1.09 12.9 -4.86 -2.58 -2.35    
Gross Claims Growth % ... ... ... ... ...             -1.25 12.9 -2.74 -3.02 -78.2   ...
Acquisition Cost Growth % ... ... ... ... ...             0.147 4.63 11.1 2.00 ... ... ...
Administrative Cost Growth % ... ... ... ... ...             -2.59 -0.791 -0.888 0.409 5.57   ...
Operating Cost Growth % ... ... ... ... ...             0.561 13.4 -2.77 -4.39 2.71    
Pre-Tax Profit Growth % ... ... ... ... ...             10.1 5.08 -39.5 46.0 -90.9    
Net Profit Growth % ...                     7.09 9.70 -47.5 56.5 -106    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                    
Intangible Assets EUR mil ... ... ... ...               2,382 2,410 2,318 2,370 1,989    
Investments EUR mil ... ... ... ...               33,588 35,907 35,801 38,102 38,286    
Reinsurance Assets EUR mil ... ... ... ...               1,117 1,034 1,028 1,106 1,031    
Receivables EUR mil ... ... ... ...               1,582 1,657 1,562 1,502 1,392    
Cash & Cash Equivalents EUR mil ... ... ... ...               568 772 720 782 1,101    
Other Assets EUR mil ... ... ... ...               532 557 510 564 690    
Total Assets EUR mil ... ... ... ...               39,770 42,336 41,939 44,425 44,490    
Equity EUR mil ... ... ... ...               5,050 5,752 4,967 5,283 4,414    
Of Which Minority Interest EUR mil ... ... ... ...               419 346 171 173 112    
Subordinated Liabilities EUR mil ... ... ... ...               531 538 1,030 920 1,280    
Underwritting Provisions EUR mil ... ... ... ...               29,322 32,061 32,470 35,282 35,922    
Other Provisions EUR mil ... ... ... ...               559 432 612 709 663    
Other Liabilities EUR mil ... ... ... ...               4,308 3,554 2,860 2,231 2,210    
Liabilities EUR mil ... ... ... ...               34,720 36,585 36,972 39,142 40,075    
investment portfolio                                    
Real Estate EUR mil ... ... ... ...               4,417 3,220 2,679 1,851 1,908   ...
Cash And Deposits EUR mil ... ... ... ...               25,612 28,690 28,033 31,890 32,261   ...
Equities And Derivatives EUR mil ... ... ... ...               121 368 556 305 320   ...
Loans EUR mil ... ... ... ...               3,438 3,628 4,532 4,055 3,798   ...
Other EUR mil ... ... ... ...               0 0 0 0 0    
Total Portfolio EUR mil ... ... ... ...               33,588 35,907 35,801 38,102 38,286    
growth rates                                    
Investments Growth % ... ... ... ... ...             -0.148 6.90 -0.294 6.43 0.484    
Reinsurance Assets Growth % ... ... ... ... ...             -0.084 -7.40 -0.574 7.52 -6.78    
Total Asset Growth % ... ... ... ... ...             0.752 6.45 -0.940 5.93 0.145    
Shareholders' Equity Growth % ... ... ... ... ...             0.391 13.9 -13.7 6.38 -16.4    
Underwritting Provisions Growth % ... ... ... ... ...             0.260 9.34 1.28 8.66 1.81    
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                                    
ROE % ... ... ... ... ...             8.78 8.89 4.59 7.41 -0.437    
ROA % ... ... ... ...               1.03 1.09 0.556 0.849 -0.046    
Net Margin %                       4.44 4.31 2.38 3.82 -0.220    
Investment Yield % ... ... ... ...               2.77 3.45 3.43 2.93 2.72    
Combined Ratio % ... ... ... ...               94.0 95.9 100 98.7 96.6   ...
Claims Ratio % ... ... ... ...               78.2 80.7 82.4 80.6 78.8   ...
Cost Ratio % ... ... ... ...               21.6 20.2 23.3 24.0 24.1   ...
Acquisition Cost (As % Of Premiums Written) % ... ... ... ...               15.8 15.2 17.7 18.2 17.8   ...
Administrative Cost (As % Of Assets) % ... ... ... ...               0.883 0.846 0.817 0.800 0.820   ...
Equity (As % Of Assets) % ... ... ... ...               12.7 13.6 11.8 11.9 9.92    
Payout Ratio % ... ... ...                 34.6 34.4 71.0 48.9 -373    
Employees                       24,902 24,086 23,362 23,360 22,995   ...
Cost Per Employee USD per month ... ... ... ...               2,704 2,525 2,856 2,724 2,465   ...
Cost Per Employee (Local Currency) EUR per month ... ... ... ...               1,944 1,964 2,151 2,114 2,150   ...
Staff Cost (As % Of Total Cost) % ... ... ... ...               6.75 5.81 6.35 6.53 6.36   ...
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 57.5 56.7    
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 67.3 -353    
Life Insurance (As % Of Total Premium) % ... ... ... ...               44.6 47.7 ... ... ...    
Non-Life Insurance (As % Of Total Premium) % ... ... ... ...               55.8 52.3 ... ... ...    
Health Care Insurance (As % Of Total Premium) % ... ... ... ...               4.07 4.04 ... ... ...    
Property Insurance (As % Of Total Premium) % ... ... ... ...               51.7 48.3 ... ... ...    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                    
Revenues From Abroad EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5,519 5,315    
Pre-Tax Profit From Abroad EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 349 -166    
Life Insurance Premium EUR mil ... ... ... ...               3,944 4,621 ... ... ...    
Non-Life Insurance Premium EUR mil ... ... ... ...               4,939 5,065 ... ... ...    
Health Care Insurance Premium EUR mil ... ... ... ...               360 392 ... ... ...    
Property / Casualty Insurance Premium EUR mil ... ... ... ...               4,579 4,673 ... ... ...    
Pre-Tax Technical Profit From Life Insurance EUR mil ... ... ... ...               240 226 ... ... 146    
Pre-Tax Technical Profit From Non-Life Insurance EUR mil ... ... ... ...               319 362 ... ... ...    
Pre-Tax Profit From Health Care Insurance EUR mil ... ... ... ...               47.7 31.2 ... ... 50.5    
Pre-Tax Profit From Property Insurance EUR mil ... ... ... ...               272 330 ... ... ...    

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VIG's Equity fell 1.17% yoy to EUR 6,044 mil in 3Q2018

By Helgi Analytics - December 13, 2018

Vienna Insurance Group's total assets reached EUR 51,714 mil at the end of 2017-12-31, down 0% when compared to the previous year. Assets were funded mostly by under-writting provisions, which amounted to EUR 38,781 mil at the year-end, or 75.0% of assets. In additio...

VIG's net profit rose 3.41% to EUR 298 mil in 2017

By Helgi Analytics - March 22, 2018

Vienna Insurance Group made a net profit of EUR 298 mil under revenues of EUR 9,657 mil in 2017, up 3.41% and up 3.83% respectively when compared to the last year. Historically, the company’s net profit reached an all time high of EUR 446 mil in 2012 and an all ...

VIG's Equity rose 5.83% to EUR 6,044 mil in 2017

By Helgi Analytics - March 22, 2018

Vienna Insurance Group's total assets reached EUR 51,714 mil at the end of 2017, up 3.41% when compared to the previous year. Assets were funded mostly by under-writting provisions, which amounted to EUR 38,781 mil at the year-end, or 75.0% of assets. In addition, eq...

VIG's Net Written Premiums rose 3.89% to EUR 8,510 mil in 2017

By Helgi Analytics - March 22, 2018

Vienna Insurance Group generated total net revenues of EUR 9,657 mil in 2017, up 3.83% when compared to the previous year. Historically, the firm’s revenues reached an all time high of EUR 10,353 mil in 2012 and an all time low of EUR 3,931 mil in 2004. The aver...

VIG's Intangible Assets fell 4.08% to EUR 1,971 mil in 2017

By Helgi Analytics - March 22, 2018

Vienna Insurance Group's total assets reached EUR 51,714 mil at the end of 2017, up 3.41% when compared to the previous year. Investments amounted to EUR 44,994 mil, or 87.0% of total assets while reinsurance assets reached EUR 1,066 mil at the end of 2017. ...

VIG's employees rose 6.98% to 24,601 in 2016

By Helgi Analytics - March 22, 2018

Vienna Insurance Group employed 24,601 persons in 2016, up 6.98% when compared to the previous year. Historically, the firm's workforce hit an all time high of 25,006 persons in 2010 and an all time low of 12,347 in 2004. Average cost reached USD 2,285 per month ...

VIG's Real Estate rose 194% to EUR 5,602 mil in 2016

By Helgi Analytics - February 23, 2018

Vienna Insurance Group's total investments reached EUR 43,196 mil at the end of 2016, up 12.8% when compared to the previous year. Financial investments formed 78.5% of total investment portfolio at the end of 2016. Loans represented 7.86% and real est...

VIG's Acquisition Cost (As % Of Premiums) rose 3.38% to 18.4% in 2016

By Helgi Analytics - February 8, 2018

Vienna Insurance Group's cost to assets ratio reached 0.807% in 2016, down from 0.820% when compared to the previous year. Historically, the insurance’s costs reached an all time high of 1.53% in 2005 and an all time low of 0.800% in 2014. The average figure for ...

VIG's Combined Ratio rose 0.085% to 96.7% in 2016

By Helgi Analytics - March 22, 2018

Vienna Insurance Group generated total net revenues of EUR 9,301 mil in 2016, up 0.085% when compared to the previous year. Some EUR 8,191 mil, or 88.1% of the revenues came from net written premium. Gross claims reached EUR 6,753 mil in 2016, so average claims ra...

VIG's Acquisition Cost (As % Of Premiums) rose 4.39% yoy to 17.5% in 3Q2018

By Helgi Analytics - December 13, 2018

Vienna Insurance Group's cost to assets ratio reached 0% in 2013-03-31, down from 0% when compared to the previous year. Historically, the insurance’s costs reached an all time high of 0% in 2013-03-31 and an all time low of 0% in 2006-12-31. The average figure f...

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With a premium volume of approximately EUR 9.7 bil in 2012 and 24,000 employees, Vienna Insurance Group (VIG) is one of the leading insurance groups in Austria and Central and Eastern Europe. Similar to Erste Bank in the banking business, VIG's succesful expansion in the CEE region transformed the company from being an Austrian company into becoming the largest insurance groups in the CEE region. Today, VIG is represented by approximately 50 insurance companies in 24 countries ranging from Albania to Turkey. It earns more than 50% of its total Group premiums in the CEE region with the heaviest contribution coming from the Czech Republic, Slovakia, Poland and Romania. VIG also benefits from a strategic partnership with Erste Bank, Austria's second largest bank. Erste Bank distributes VIG insurance products, whereas VIG companies offer Erste Group banking products in return.