PROTECTING WHAT MATTERS - CORPORATE PRESENTATION - Vienna Insurance Group
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PROTECTING WHAT MATTERS. September 2020 CORPORATE PRESENTATION VIG VIENNA INSURANCE GROUP
OVERVIEW
WELCOME TO VIENNA INSURANCE GROUP!
We are the leading
30
Around Represented in
50
insurance group in
Austria, Central and
Eastern Europe. Group companies countries
25,000 22
Cooperation with More than More than
Erste Group million
the largest retail bank in CEE employees customers
VIG share listed
A+
Standard & Poor‘s Rating
1994
VIG share since on the Vienna & Prague
STOCK
on the Vienna Stock Exchange EXCHANGE with stable outlook
3 OVERVIEW VIG VIENNA INSURANCE GROUP
AT HOME IN 30 COUNTRIES 4 OVERVIEW VIG VIENNA INSURANCE GROUP
THE LEADING INSURANCE GROUP IN AUSTRIA AND CEE
Our market position in Austria, Central and Eastern Europe
No. 1 Top 5 10
Austria Albania Belarus 1
Baltic states Bosnia and Hungary
Bulgaria Herzegovina Montenegro
Czech Republic Croatia Slovenia 10
North Macedonia Georgia Turkey
4
Romania Kosovo
Slovakia Moldova 1
3
Poland 1
Serbia 1 3
6
Ukraine >10 1
4
3 4 2
7 2 1
1 2
2
>10
Last updated – Q4 2019
5 OVERVIEW VIG VIENNA INSURANCE GROUP
YOU CAN COUNT ON US
KEY FIGURES 2019
COMBINED RATIO
95.4 %
PREMIUM VOLUME PROFIT (BEFORE TAXES)
€ 10.4 bn € 522 m
SOLVENCY RATIO FINANCIAL RESULT INVESTMENTS NET RESULT
210 % € 1,011 m € 36 bn € 331 m
Status: 2019
6 OVERVIEW VIG VIENNA INSURANCE GROUP
YOU CAN COUNT ON US
KEY FIGURES FIRST HY 2020
COMBINED RATIO
95.5 %
PREMIUM VOLUME PROFIT (BEFORE TAXES)
€ 5.6bn € 201.2m
SOLVENCY RATIO FINANCIAL RESULT INVESTMENTS NET RESULT
183 % € 388 m € 36 bn € 126 m
Status: Results HY 2020
7 OVERVIEW VIG VIENNA INSURANCE GROUP
VIENNA INSURANCE GROUP IN CEE: WE CAME TO STAY
Vienna Insurance Group generates about half of its premiums and profit in CEE.
Premiums Profit
CEE Non-CEE CEE Non-CEE
~55% ~ 45% ~ 50% ~ 50%
Status: Results HY 2020 Non-CEE: Austria, Germany, Liechtenstein
8 OVERVIEW VIG VIENNA INSURANCE GROUP
CAPITAL MARKETS – KEY FACTS ABOUT VIG SHARE
MAIN SHAREHOLDER FREE FLOAT STANDARD & POOR´S
~70%
Wiener Städtische
Versicherungsverein
~30%
VIG share is listed on the ATX,
the index of leading shares on
A+
rating with
stable outlook
the Vienna Stock Exchange, and
on the Prague Stock Exchange
DIVIDEND POLICY
1.15 Euro KEY SHARE FIGURES
Dividend 2019
4.5 % 132.89 m
Share capital (EUR)
Dividend yield for 2019
Dividend Policy:
128 m
The dividend policy defines a payout ordinary shares
~2.55 bn
ratio in the range of 30 to 50% of
Group profits after taxes and non-
controlling interests. The aim is to keep Market capitalisation
the dividend per share aligned with status: 21 August 2020
Group performance. The dividend (EUR)
payout ratio 2019 amounts to 44.4%
9 OVERVIEW VIG VIENNA INSURANCE GROUP
OUR MANAGEMENT
Elisabeth Stadler Gerhard Lahner Harald Riener Peter Thirring
Liane Hirner Peter Höfinger
CEO Member of the Managing Member of the Managing Board
Gábor Lehel Member of the Managing
Member of the Managing
CFO Board
Chair of the Managing Board Board Member of the Managing Board
Member of the Managing
Management & Board Board External incoming reinsurance,
Corporate and large Asset Management, Sales Initiatives
Strategic Questions, Group IT,
customer business Asset Liability Management, Customers and SME,
Group Development and Strategy, Finance and Accounting, Actuarial Department, Betriebsorganisation,
Enterprise Risk Vienna International Treasury/Capital market Personal Insurance Assistance
Planning and Controlling, Motor and
Management, Underwriters (VIU), Countries: BA, HR, HU, MK Countries: MD, PL, RO, UA
General Secretariat and Legal, Property Insurance
Asset-Risk Management, Group Reinsurance
Affiliated companies department, Countries: GE, LI, SK, TR
Data Management & Countries: AL, KO, Baltics,
European Affairs,
Processes BG, MNE, Nordics,
Group Communications & Marketing,
Countries: BY, DE RS
Group Sponsoring,
Photos: Ian Ehm
Bancassurance and international
partnerships,
Human Resources
Responsibilities of the entire Managing Board: Group Compliance, Internal Audit, Investor Relations
Countries: AT, CZ
AL: Albania, AT: Austria, Baltic States: Estonia, Latvia, Lithuania, BA: Bosnia and Herzegovina, BG: Bulgaria, BY: Belarus CZ: Czech Republic, DE: Germany, GE: Georgia, HR: Croatia, HU: Hungary, KO: Kosovo, LI: Liechtenstein, MD: Moldova, MK: North
Macedonia, MNE: Montenegro, Nordics: Denmark, Finland, Norway, Sweden, PL: Poland, RO: Romania, RS: Serbia, SK: Slovakia, TR: Turkey, UA: Ukraine.
10 OVERVIEW VIG VIENNA INSURANCE GROUPFIRST MOVER IN CEE
Expansion to Eastern Europe shortly after
the fall of the Iron Curtain 1989
1 bn Euro
Premium volume
~5,600 employees
3 Group companies
Austria
1996 1999 2002 2004 2007 2010 2014
Hungary Liechtenstein Bulgaria Slovenia Albania Montenegro Moldova
Croatia Belarus Ukraine Kosovo
Italy North Macedonia
Turkey
Czech
Republic Estonia
Slovakia Latvia Bosnia and
Germany Poland Romania Serbia Georgia Lithuania Herzegovina 2018
1990 1998 2001 2003 2005 2008 2011 France
2020 2019
Sweden
Norway
> 10 bn Euro* Denmark
Premium volume
~25.000 employees
~50 Group companies
30 countries
* Results 2019
11 OVERVIEW VIG VIENNA INSURANCE GROUPA LOOK AT OUR HISTORY
The Group’s origins go back to 1824.
1824 Second World War 1952 14 June 1955 1971
Both office buildings on A new headquarters on The Ringturm – Austria’s Acquisition of a stake in
Kärntner Ring in Vienna Vienna’s Schottenring is first modern high-rise Donau Versicherung AG
are destroyed during air commissioned. office building – opens. (founded in 1867) lays
raids. After the end of It symbolised Austria’s the foundations for
Establishment of the war, the company’s post-war economic today’s multi-brand
Wechselseitige k.k.priv.
Brandschaden Versicherungs- reconstruction begins recovery and regained strategy.
Anstalt, the Group’s initial with a small group of freedom.
predecessor company. employees.
1990 October 1994 2005 since 2006 2008 2010
Initial plans for expansion The Group’s preference Stock market offensive Regular artistic wrapping of Second capital increase VIG Holding, the
into Eastern Europe, and shares are listed on the including a capital the Ringturm as a contribution raises over EUR 1bn; management entity
establishment of Vienna Stock Exchange. increase, and the VIG to art in public spaces. The cooperation agreement for the listed Group,
Kooperativa in Bratislava, share is included in the wrapping is created by artists with Erste Group . is formed.
in what was then ATX for the first time; from Austria and the CEE
Czechoslovakia, as the Since 2008, the VIG countries where Vienna
first private insurer in the share is listed on the Insurance Group has a
former Communist bloc. Prague Stock Exchange. presence.
12 OVERVIEW VIG VIENNA INSURANCE GROUPINSIGHT
OUR MISSION STATEMENT 14 INSIGHT VIG VIENNA INSURANCE GROUP
OUR VALUES
DIVERSITY CUSTOMER PROXIMITY RESPONSIBILITY
Because of our presence in 30 We have strong roots, both We draw on experience to
countries, primarily in Central and internationally and locally. Thanks to safeguard our customers’ futures
Eastern Europe, we have an in-depth our local employees, we are more than as effectively as possible. A
understanding of local circumstances. familiar with the typical needs of sense of responsibility and
Sharing knowledge, ideas and customers in our different countries respect are always central to our
experience within the Group is part of and markets. This allows us relationships with our customers,
day-to-day operations. Diversity is one to offer tailored solutions and business partners, shareholders
of our success factors and core values. maximise customer satisfaction in all and society as a whole.
In a way, it is part of Vienna Insurance of our markets.
Group’s DNA.
15 INSIGHT VIG VIENNA INSURANCE GROUPOUR CORPORATE STRATEGY
We focus on providing our customers
in Austria and CEE with customised
products and services tailored to
their needs. Our strategy is geared
towards long-term profitability and
continuous earnings growth, making
us a reliable and stable partner in
rapidly changing times.
The core elements of our strategy:
CORE BUSINESS INSURANCE
FOCUS ON AUSTRIA & CEE
Photo: Robert Newald
16 INSIGHT VIG VIENNA INSURANCE GROUPOUR MANAGEMENT PRINCIPLES
1 Local entrepreneurship
Knowledge of local needs and markets
Decentralised structures and efficient decision-making procedures
Multi-brand strategy
2 Around 50 Group companies in 30 countries
Utilisation of established local brands
3 Multi-channel distribution
Various distribution channels, including partnership with Erste Group
Strongly customer-oriented distribution
Conservative investment and
4 reinsurance policy
Quality, peace of mind and sustainability are our priorities
Spreading risk by means of diversification
17 INSIGHT VIG VIENNA INSURANCE GROUPOUTLOOK
MANAGEMENT PROGRAMME AGENDA 2020
We focus on leveraging market potential to generate profits, while also ensuring its ability to
meet future challenges and pursuing a business model that maximises cost effectiveness.
The Agenda 2020 measures will be implemented in close collaboration with the local Group
companies by 2020.
OPTIMISATION OF BUSINESS ENSURING FUTURE
MODEL VIABILITY
To this end, we are taking measures to maximise cost In this regard, our main concerns are changes in
effectiveness: fine-tuning our claims management and lifestyles and people’s habits, as well as the impact
underwriting by reducing the number of cases of of demographic and economic changes on the
insurance fraud, as well as identifying and avoiding industry: namely the future of insurance and digitisation,
excessive claims payments, and much more. the insurance expanding our range of assistance
services, and much more.
ORGANISATION AND COOPERATION
We have specified the ways in which VIG Holding and the operating Group companies work together. The Holding
advises and supports the Group companies, taking a managerial and facilitating role. We work as partners and as a
team, with a focus on generating long-term added value for the Group companies.
19 OUTLOOK VIG VIENNA INSURANCE GROUPMANAGEMENT PROGRAMME AGENDA 2020
Examples of areas and measures taken under Agenda 2020:
Focus on health insurance
1 Five focus countries: Poland, Romania, Bulgaria, Hungary and Turkey
Premium increase 2019 +42 % in these five focus countries
Promotion of Bancassurance
2 Focus on sales of health and property insurance
Extension of cooperation agreement with Erste Group until the end of 2033
Expansion of reinsurance business
3 As the leading reinsurer in CEE, focus on expanding third-party business to become the main contributor to results
Establishment of branches of the own reinsurance company VIG Re in Frankfurt and Paris
Innovation & Digitisation
4 Around 180 ongoing digitisation projects in the Group under implementation
Own corporate start-up "viesure" established
Cooperations with Digital Impact Lab in Leipzig and global innovation platform "Plug and Play" in Silicon Valley
Own digitisation initiative "VIG Xelerate" to promote the Group's own digitisation projects
Interests in start-ups i.e. „ViveLaCar“
Expansion of assistance services
5 Development of own assistance companies
2019 over400,000 assistance cases were handled by own companies
Use of the latest self-developed software for accident and breakdown assistance
20 OUTLOOK VIG VIENNA INSURANCE GROUPWE STILL SEE GREAT POTENTIAL IN CEE
Insurance density in CEE is significantly lower than in Western Europe and Austria.
Insurance density 2019 in EUR (premiums per capita)
EU-15 2 918.8*
Austria 1 950.7
Czech Republic 576.0
Slovakia 413.3
Poland 374.2
Hungary 365.1
Croatia 344.4
Lithuania 342.3
Bulgaria 212.6
Turkey 130.7
Romania 111.7*
Bosnia a. H. 104.1*
Serbia 103.9
North Macedonia 82.6
Source: Axco
Ukraine 42.6
* Data from 2018
21 OUTLOOK VIG VIENNA INSURANCE GROUPFORESIGHT
OUR EMPLOYER BRANDING
Vienna Insurance Group is committed to being an attractive employer and strengthening its
position in this regard. This is reflected in our professional corporate image and the respect we
show for job applicants. In 2019, our efforts were awarded multiple times.
However, excellent employer branding starts with a company's existing employees. We want our
employees to be proud to work for us. Satisfied employees serve as ambassadors inside and
outside the company. Development opportunities, coupled with the feeling of being respected, result
in increased motivation and improved performance.
DIVERSITY IS PART OF EVERYTHING WE DO
We see diversity as a reflection of the similarities and differences that we
encounter at VIG Holding, in our markets, at the local Group companies, as well
as our partners, customers and employees. Diversity management involves
genuine respect for an open-minded approach and conscious efforts to
capitalise on our diversity. We offer impartial access to our wide range of
training and development options, Group-wide networking possibilities and
international career opportunities.
23 FORESIGHT VIG VIENNA INSURANCE GROUPOUR SUSTAINABILITY STRATEGY
We are a responsible, forward-looking company, and we are committed to linking
our financial targets with social and environmental aspects.
Our activities are focused on:
CSR IN OUR CORE BUSINESS SOCIETY
Sustainable management and compliance Involving the community
with rules and regulations
CUSTOMERS ENVIRONMENT
Responsibility for products and customers An environmentally
friendly mind-set
EMPLOYEES
Treating employees with respect
24 FORESIGHT VIG VIENNA INSURANCE GROUPSOCIAL COMMITMENT
Fulfilling our social responsibility to people in the 30 countries where the Group is represented,
by promoting numerous projects, reflects the company’s perception of itself. Many of these
initiatives are in general supported by the Group’s main shareholder, Wiener Städtische
Versicherungsverein.
SOCIAL ACTIVE DAY VIG KIDS CAMP
Vienna Insurance Group gives employees time off to Every year, around 500 children of all Group company
spend a day working voluntarily on social projects. employees are invited to Austria for VIG’s Kids Camp.
Every year, numerous employees in various countries
send a strong signal underlining their dedication, Raising awareness from an early age
charitable spirit and sense of solidarity. “The fun and entertaining activities give the youngsters
an insight into the international environment in which
their parents work, and the ideas of diversity and
Supported by
39 21
multiculturalism,” explains Günter Geyer, Chairman
of the Managing Board of Wiener Städtische
Versicherungsverein.
participating Group companies countries
47,380
hours of work
5,923
employees taking part
Status: 2019
25 FORESIGHT VIG VIENNA INSURANCE GROUPDIVERSITY IS ONE OF OUR BEST INGREDIENTS
Vienna Insurance Group is the most diverse company in Austria.
First Place
BCG* Gender Diversity Index Austria 2019
The index analyses the gender balance and pay
gaps in the managing and supervisory board for the
50 largest listed companies in Austria.
*Boston Consulting Group
I see this award as confirmation of our strategy to not just define diversity as our core value,
but instead view it as a competitive factor in a comprehensive diversity strategy. To us,
diversity management means genuine appreciation, open acceptance and conscious use of
our diversity.
Elisabeth Stadler, CEO
26 FORESIGHT VIG VIENNA INSURANCE GROUPEXCELLENT EMPLOYER
FORBES GLOBAL 2000 – WORLD’S BEST EMPLOYERS RANKING
Listed by Forbes as one of the 500 best employers in the world
BEST RECRUITERS D-A-CH
VIG Holding leads insurance sector and is among the Top 20 employers in the
German-speaking countries
BEST RECRUITERS AUSTRIA 2019/2020
VIG Holding receives gold award for Employer Branding & Recruiting three times in a
row and is industry leader
27 FORESIGHT VIG VIENNA INSURANCE GROUPRECENT AWARDS
FORBES GLOBAL 2000 – AMONG THE WORLD’S LARGEST PUBLIC COMPANIES
Ranked 1131 in the 2020 Forbes ranking - as fourth largest Austrian company
AMONG THE TOP 3 MOST IMPORTANT INSURANCE COMPANIES IN AUSTRIA
A study by market Institut selected VIG among the three most important insurance
companies for Austria
MOST INNOVATIVE INSURER 2019
Voted by Austrian financial magazine „Börsianer“ as most innovative insurance
company 2019
CEO & CFO AWARDS 2019
Deloitte named Elisabeth Stadler as best international CEO and Liane Hirner as the
CFO Newcomer of the Year 2019
28 FORESIGHT VIG VIENNA INSURANCE GROUPPUBLICATION DETAILS Presentation last updated September 2020 Publisher and proprietor Vienna Insurance Group 1010 Wien, Schottenring 30, FN 75687 f Contact details Address: Schottenring 30, Postfach 80 A-1011 Vienna, Austria Tel.: +43 (0)50 390 ext. 22000 E-mail: info@vig.com Website: www.vig.com Produced by Group Communications & Marketing Contact: Wolfgang Haas Tel.: +43 (0)50 390 ext. 21029, E-mail: wolfgang.haas@vig.com Photos: Ian Ehm, Robert Newald, Börse Express Note To enhance readability, this presentation does not use gender-specific language. The relevant formulations apply to both sexes, in the interests of gender equality. Disclaimer: Although this presentation was prepared with the utmost care, such condensed information may leave an unclear or incomplete impression. This presentation contains forward-looking statements based on current estimates and information. The Group is not obliged to update such forward-looking statements or adapt them in view of future events or developments.
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