Vienna Insurance Grp Ord (VNRGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to VIG Key Figures and Updates First Quarter 2025 Conference Call and Live Webcast. I am Yusuf, the Chorus Call Operator. I would like to remind you that all participants will be in listen-only mode in that this conference is being recorded. The presentation will be followed by a Q&A session. To ask a question, please press star followed by 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or for broadcast. At this time, it's my pleasure to hand over to Peter Herfinger, Deputy CEO of VIG. Please go ahead. Thank you very much and a very warm welcome this afternoon. I'm happy to present together with my colleague, Liane Hirner, our first quarter results. We can present quite solid results in the first quarter with a growth in insurance service revenue by more than 8% and profit growth before Texas. of 7.5%. We also have been able to place successfully a Tier 2 sustainability bond and repurchasing part of our subordinated debts. Additionally, we have additions in Albania to our two non-life insurance companies, a life insurance company, where we will realize with synergies and also exploring the live market in Albania, which is still at a very early stage. On top, we bought a stake in Finanze. Finanze is the largest financial broker in Poland, which will support our growth of our Polish companies. And we are currently in the pits of taking over MoldoSig, which is one of Moldova's leading non-life insurance companies. and the government has invited us to participate in this bid to then further develop the Moldavian insurance market. On the next slide, you see our diversification, which we have reached until today, and we believe this diversification is important and sup...