Standard & Poor’s has awarded Vienna Insurance Group (VIG) an “A+” rating with a stable outlook. This ranks VIG among the top companies in the Austrian Traded Index. VIG’s reinsurance company, VIG Re, based in Prague, also received an “A+” rating with a stable outlook.
Since the end of 2023, S&P has used a new capital model to assess the risk-based capital of insurance companies in Europe.
VIG maintains strong capital under the revised criteria, even in extreme stress scenarios, with a 99.99% confidence level. S&P affirmed VIG’s capital strength and top rating, citing its strong 2023 performance.
This was due to solid underwriting results, a stable combined ratio, and a strong new business margin in life and health.
S&P also noted VIG’s conservative capital and financial management, which has created a significant capital buffer and facilitated a smooth transition to IFRS 17.
S&P also highlighted VIG’s market leadership in Austria and several Central and Eastern European (CEE) countries.
VIG’s diversified insurance portfolio, strong sales capacity, and bancassurance collaboration with Erste Group were recognized.
Additionally, VIG’s conservative reinsurance strategy limits its NatCat losses from adverse weather events in Austria and CEE.
S&P stated that the stable outlook is supported by VIG’s strong market positions in Austria and several CEE countries.
The rating agency expects VIG to continue growing over the next two to three years.
With its strong capital resources and successful business model, Vienna Insurance Group is well-positioned to benefit from the growth of the CEE region and to be a reliable partner for its customers.
