Vienna Insurance Group

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  • Peter Hagen CEO
  • Wolfgang Ruttenstorfer Chairman

The VIENNA INSURANCE GROUP AG Wiener Versicherung Group (VIG ) is one of the largest Austrian insurance groups. The company was founded in 1824 from the Imperial and Royal Fire Damage Insurance forth. Your corporate headquarters, the Vienna Insurance Group in the Ring Tower, built in 1955, the first high-rise office building in Vienna.

History

The company's history goes back to the year 1824 on the establishment of the imperial priv mutual fire insurance back.

End of the eighties of the 20th century, the Group began its expansion into Central and Eastern Europe, beginning with the founding of Kooperativa in the former Czechoslovakia.

1994, after the company had been converted into a public limited company, 11 percent of the capital in the form of preference shares were floated on the Vienna Stock Exchange. In 2005, the Vienna Insurance Group carried out the largest ever acquisitions in Central and Eastern Europe. In the same year, the company converted its preferred stock into common stock and increased its share capital.

In 2006, in the course of internationalization, the umbrella brand Vienna Insurance Group. The subsidiaries in Central and Eastern Europe mostly occur under their original brand with the addition of Vienna Insurance Group.

In 2008 there was a further capital increase to finance the acquisition of s insurance, the insurance business of Erste Group Bank AG, which the Vienna Insurance Group has been the market leader in Central and Eastern Europe. At the same time a long-term distribution agreement with Erste Group Bank was signed. The cooperation between the two companies is an important part of its expansion strategy in Central and Eastern Europe.

In the 2010 AGM it was decided to split the insurance business in Austria in a 100-percent subsidiary. This company is called Wiener Städtische Versicherung AG Vienna Insurance Group and operates the largest single company and a leading insurer in Austria 's operating insurance business. The listed Group holding company named VIENNA INSURANCE GROUP AG Wiener Versicherung Group and exerts significant control tasks across countries. After approval by the authorities of the new Group structure has been in force since August 3, 2010.

In a ranking by Forbes Magazine the world's largest public companies in the year 2013, the Vienna Insurance Group is ranked 723

Management

From 2001 until May 2012 was General Günter Geyer at the head of the Institute. Since 1 June 2012 Peter Hagen is Chief Executive Officer of the Group. The Viennese former mayor Helmut Zilk was Chairman of the Supervisory Board of the " City Club " (main shareholder).

The Managing Board of Vienna Insurance Group consists of four members:

  • General Peter Hagen ( Chairman and CEO )
  • Executive Director Martin Simhandl (CFO )
  • Executive Director Franz Fuchs
  • Executive Director Peter Höfinger

The Supervisory Board consists of ten members and is headed by Wolfgang Ruttenstorfer.

Group and shareholder

At the AGM in 2010 a restructuring of the company was decided. The operating insurance business in Austria was separated from the VIG and cleaved in the largest subsidiary " Wiener Städtische ". The thus formed holding company " Vienna Insurance Group AG Wiener Versicherung Group " has mainly held transnational control and infrastructure tasks.

The Wiener Städtische Versicherung club has approximately 70 % share of principal shareholder of the Vienna Insurance Group and deals with strategic policy issues of the Group and the promotion of cultural and social activities. Around 30% of VIG shares are in free float.

Markets and Investments

The Vienna Insurance Group has an extensive network of subsidiaries in Central and Eastern Europe. Overall, the Group generates more than half of the premiums in the CEE countries.

The markets of the Vienna Insurance Group are: Austria, Czech Republic, Slovakia, Poland, Romania, Bulgaria, Hungary, Serbia, Croatia, Montenegro, Macedonia, Albania, Turkey, Estonia, Latvia, Lithuania, Ukraine, Belarus, Bosnia and Herzegovina, Georgia as well as Germany and Liechtenstein. In Italy and Slovenia there are branches of Wiener Städtische Versicherung and Donau Versicherung.

In addition to the core business of the Group is to companies such as the Vienna-based organization funeral service and insurance company and the Arithmetica insurance and actuarial consulting GmbH involved.

Investments, the Vienna Insurance Group also participated in several large Austrian companies such as OMV (energy), the Austrian Tourist Office (Tourism ), Porr (Construction), AT & S ( PCBs ), Voestalpine (steel ) and Wienerberger ( building materials).

Listing

The Group is listed on the Prime Market of the Vienna Stock Exchange and is included in the leading ATX as well as in CEETX recorded, main shareholder is the Wiener Städtische Mutual Insurance Fund Asset Management, which holds about 70 % of the shares, the remainder is in free float. Since 2008, the shares of the Vienna Insurance Group also listed on the Prague Stock Exchange.

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