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14.03.2021
VIG: Vienna Insurance Group (VIG) reported preliminary results for 2020. Premiums increased to Euro 10.43 bn. With profit before taxes of Euro 346 mn the company reached the upper end of the announced profit range of Euro 300 to 350 mn for 2020. This figure also includes goodwill impairments of around Euro 120 mn. The combined ratio was further improved to 95%, which means our goal of moving the combined ratio towards 95% has been achieved. We will continue to focus on optimising our cost structure. Despite the turbulent times, we achieved very solid results and a stable operative performance. The ongoing pandemic makes it difficult to forecast the future development,” CEO Elisabeth Stadler commented. Based on current developments, Vienna Insurance Group expects premium volume in 2021 to remain stable at the level of 2020 and aims for a profit before taxes for 2021 in the range of Euro 450 mn to 500 mn, which means a return to the pre-crisis level. The insurance ....

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