Vienna Insurance Group, the multinational insurer operating across Central and Eastern Europe, has set out its aims for the next three years as it introduces its new strategic programme, evolve28.
The company has detailed quantitative targets designed to reinforce its regional leadership, raise premiums and profit, and support the priorities of each national business.
VIG’s revised full-year outlook for 2025 laid the groundwork for the new plan. The company reported a Group result before taxes of EUR 873 million for the first nine months of the year, representing a rise of more than 30% compared with the same period last year.
This performance led VIG to increase its projected 2025 profit before taxes to between EUR 1.10 billion and EUR 1.15 billion. According to the company, these figures underpin the financial expectations set for 2028, which exclude the planned acquisition of NÜRNBERGER Beteiligungs-AG.
The 2028 objectives published by VIG include gross written premiums of at least EUR 20.0 billion, profit before taxes of at least EUR 1.5 billion, a maximum net combined ratio of 91%, an operating return on equity of at least 17%, and a solvency ratio in the range of 150% to 200%.
Commenting on the key performance indicators, Hartwig Löger, CEO of Vienna Insurance Group, said: “Our planning provides a very clear picture of the growth trajectory we will pursue over the next three years, and this will be further increased once the regulatory approvals for the Nürnberger acquisition have been obtained. We are driving forward the expansion of our market leadership and plan to significantly grow our premiums and profit while remaining true to our principle of local entrepreneurship.
“We chose evolve28 as the name for the strategy because it represents a strategic approach that focuses on continuous development rather than changing everything at once. We build on proven success factors and adapt our business model flexibly and resiliently to the dynamic environment.”
VIG emphasises that its structure differs from that of many global groups, positioning itself not as a highly centralised organisation but one grounded in the autonomy of local companies.
The evolve28 programme is designed to reinforce this model by providing a framework rather than a prescriptive strategy, enabling each business within the Group to maintain its own direction while aligning with Group-level priorities. VIG has set out four elements within the programme: Values & Principles, Country Portfolio & Company Strategies, Group Programmes and CO³, an initiative intended to strengthen communication and cooperation across markets.
The Values & Principles define how VIG presents itself and provide the foundation for strategic cooperation. The Group identifies five values: “Plurality”, “Entrepreneurship”, “Responsibility”, “Excellence” and “Passion”. The principles outline how these values guide coordination between the Holding company and local operations, reflecting aspects such as VIG’s multi-brand approach, the emphasis on national entrepreneurship and the distinction drawn between core and special markets.
Local strategies remain central to evolve28, with each company developing its plan using detailed market and trend analyses. These strategies were then brought together at Holding level to create a shared direction. VIG plans to begin structured knowledge-sharing next year to address topics that recur across the local strategies, including expansion of the customer base, strengthening distribution, broadening product offerings, enhancing operational processes and placing continued focus on employees and corporate culture.
The Group Programmes form another element of the framework. These programmes, coordinated by the Holding company with the support of local subsidiaries, target areas considered important for the coming years. Each programme is overseen by a member of the VIG Managing Board. The five programmes cover Sustainability, Capital Management, Banking Cooperation, Artificial Intelligence and Health.
The CO³ element is intended to deepen internal exchange and promote cohesion within the organisation. Standing for Communication, Collaboration and Cooperation, it aims to create efficiencies and improve transparency through a mix of established and newly introduced in-person formats, as well as expanded use of digital tools. VIG expects that sharing best practices in a more structured way will generate meaningful synergies.
VIG also reaffirmed its dividend policy, stating that it aims to deliver at least the same dividend per share as the previous year and, depending on operating performance, seeks to raise the dividend over time.
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