Vienna Insurance Group posts profit of 511 million Euro, up by 48 percent in 2021

Vienna Insurance Group announced its financial results for 2021. Premium volume rose to EUR 11 billion (+5.5 percent). Profit (before taxes) increased to EUR 511 million (+47.8 percent). Combined ratio improved significantly to 94.2 percent (-0.8 percentage points). Proposed dividend increased to EUR 1.25/share (+66.7 percent).

“The VIG Group once again showed strong operational resilience in the second year of the worldwide pandemic with preliminary key figures for 2021 that are significantly above expectations. The results are proof of the successful, diversified position of the Group, of the excellent operating results of all of our insurance companies and of our early focus on the major challenges in the industry such as the digital transformation. For our shareholders, we will make a proposal to the Annual General Meeting that a significant dividend increase to EUR 1.25 per share be made for the financial year 2021. This corresponds to a year-on-year increase of 66.7 percent and to an attractive dividend yield of 5.0 percent. This also puts us clearly above the dividend of EUR 1.15 before the beginning of the COVID-19 pandemic. We are deeply saddened by the war in Ukraine in the middle of one of our VIG markets. We are observing with great concern that people in a European country and within our Group are currently exposed to serious physical danger. The safety of our employees at our Ukrainian companies and helping them as much as possible are now the top priorities in this terrible situation. Our VIG companies started many assistance programs immediately after the war broke out and are showing the terrific team spirit within our Group. We have set up the “VIG Family Fund”, which is a fund with a base endowment of EUR 5 million, that all of our VIG companies and staff can pay into. The purpose of the fund is to provide direct financial support to our colleagues at the Ukrainian companies for emergencies and rebuilding caused by the war. The current war situation in Ukraine is not only associated first and foremost with human suffering but also economic uncertainty and possible volatility on the capital markets. This has currently made it difficult to estimate business development for 2022. The VIG Group, however, sees itself as able to continue to manage its operational insurance business well because of its broad diversity and its conservative investment and reinsurance policies. We have repeatedly proven this in recent years in challenging situations. This is why we are confident that we will also be able to continue our positive performance in 2022″, explains CEO Elisabeth Stadler.