By providing made-to-measure reinsurance to more than 350 clients in 38 countries, our team of professionals intuitively understands the challenges our partners face in managing their risk and capital.
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Want to know more?
Get in touch
As part of the Vienna Insurance Group, whose history reaches back to 1824, VIG Re has been bringing energy to the industry since its founding in 2008 by establishing ourselves as a core player in the reinsurance market in Austria and CEE.
VIG’s roots in Austria date back to 1824 and to the foundation of Wechselseitige k.k. private Brandschaden-Versicherungsgesellschaft in Vienna.
VIG treated the fall of the iron curtain as an opportunity to achieve the number one position as the leading insurance group in Austria and the CEE region.
On 8 August 2008 the Czech National Bank grants reinsurance license to VIG Re. In October the Company receives an A+ FSR rating from Standard & Poor’s, which is unaltered until today.
VIG Re assumes treaty reinsurance for all major Property & Casualty and Life & Health lines of business, both from VIG companies and third parties. By end of the first full year of its operation, the company underwrites a book of EUR 257.2 million.
VIG Re acquires 99.2% shares of Wiener Re Beograd, a Serbian reinsurance company. The Company starts to offer facultative services in property and engineering lines.
Kazakhstan, Azerbaijan, and Armenia are added to the underwriting territories. Karl Fink succeeds Peter Hagen as 2nd CEO of the Company.
VIG Re grows its assumed business from VIG companies to EUR 419.2 million; a growth of 65% premium compared to the prior year.
Johannes Martin Hartmann takes the helmet as the Company’s 3rd CEO. The underwriting activities with third Parties in CEE are intensified. In the same year a severe flooding hits VIG Re key markets Austria and CEE.
Despite VIG companies report a number of large man-made losses to the Company, the net combined ratio comes in still below 98% and a profit before tax to EUR 19.9 million is generated. Jan Hrevuš is appointed as Head of the newly established Actuarial Analytics team.
A continued competitive market environment calls for underwriting discipline. The Property & Casualty book is reduced by 6%. Olaf Dietrich heads the Non-Life Underwriting. The net combined ratio improves to 95.5% and pre-tax profit soars to EUR 22.7 million.
Ivana Jurčíková joins the Board of VIG Re and is appointed as a Chief Financial Officer. BSS, VIG Re’s integrated underwriting, claims and accounting software, goes live. The net combined ratio further improves to 93.2%.
Tomasz Rowicki joins VIG Re’s Board of Directors. The first branch office in Frankfurt am Main in Germany opens on 29 September, headed by Fabian Christoph. Katarzyna Galan takes the lead of the Life Underwriting Team and Patrick Chevrel joins to head the expansion of the underwriting activities in Western Europe.
By maintaining a convivial, yet professional relationships with our clients, they experience our company values personally and trust us for them.
Respect, integrity, and transparency are our fundamental principles.
We're in it for the long haul.
We grow our profits through expertise.
We invest in smart tools without over-engineering.
We create an environment in which people take responsibility.
We add freshness to reinsurance.
As a company, we get our energy from the people that drive our business.
By pursuing our line of long-term stability, strong capitalisation and financial flexibility, strictly conservative investment strategy and prudent underwriting policy, we’ve been able to continue to drive our results without getting lost on the way.
Values are in thousands of EUR. Based on Consolidated Financial Statements.