Vienna Insurance Group reports profit before taxes of 666.5 million Euro, up 8.5 percent in the first nine months

Vienna Insurance Group announces the financial results for the first three quarters of 2024, with profit before taxes of 666.5 million Euro, 8.5 percent higher than in the previous year. This profit growth is mainly attributable to the Poland, Extended CEE and Austria segments. In the Extended CEE segment, the increase stems from non-life insurance, primarily from Romania, Bulgaria, Hungary and Slovakia.

Gross written premiums increased by 8 percent compared to the previous year to 11.4 billion RON. As in the first half of 2024, growth was achieved in all segments. The highest premium increases came from the Special Markets segment (Germany, Georgia, Liechtenstein and Türkiye) with 30.3 percent, thanks to the performance of the Turkish market, as well as from the Extended CEE* segment with 11.2 percent, where the increase is mainly attributable to Romania, the Baltic States, Slovakia, Hungary and Bulgaria.

“With the figures for the first nine months of 2024, Vienna Insurance Group’s dynamic business development continues. The damage caused by storm Boris in September 2024 was managed effectively thanks to VIG’s responsible and conservative corporate and reinsurance policies. We confirm our outlook for 2024 and expect profit before taxes at the upper end of the planned range of EUR 825 million to EUR 875 million”, explains Hartwig Löger, CEO of Vienna Insurance Group.