With 'A+' and stable outlook still top ranking in ATX.

The international rating agency Standard & Poor's (S&P) once again confirmed Vienna Insurance Group's (VIG) rating of 'A+' with a stable outlook in its press release on 1 December 2022. Vienna Insurance Group thus remains one of the companies with the best rating in the Austrian Traded Index (ATX) of the Vienna Stock Exchange.

Business risk profile remains strong

Standard & Poor's continues to rate Vienna Insurance Group's business risk profile as strong. As the market leader in Austria and several CEE markets, Vienna Insurance Group continues to benefit from the insurance markets upswing and its geographic and business diversification. The long-standing cooperation with Erste Group in the field of bank insurance is also positively highlighted. Despite weakening economic conditions across Europe, VIG Group can expect resilient business, as the largest markets in particular Austria, the Czech Republic and Slovakia are benefiting from solid sovereign fundamentals and continued robust household balance sheets, which provide a cushion against economic uncertainty. According to S&P, VIG's 2022 business performance to date puts it in a good position compared to its main EMEA peers in the 'A+' range.

Very strong financial risk profile

As in the previous year, the rating agency considers the financial risk profile of Vienna Insurance Group to be very strong. Once again S&P continues to view VIG's excellent capital adequacy to be a relative ratings strength. VIG maintains a very robust capital position above the 'AAA' level according to the risk-based capital model of S&P. VIG also has a robust Solvency II ratio according to S&P. VIG Group's performance is expected to be supported by its continued strict underwriting discipline, the solid reserving as well as conservative reinsurance policy and tight cost control. Overall, the rating agency expects that VIG will maintain its capital and earnings at least at a very strong level over the next two years, while it continues to pursue good organic growth opportunities.

The entire rating report can be found on the website under Rating.

(C) 2022 Electronic News Publishing, source ENP Newswire