Vienna Insurance Group (VIG), an insurer in the Central and Eastern European region, has announced the appointment of Christoph Rath as a deputy member of the Managing Board.
Rath, who currently is the Chief Financial Officer (CFO) of the Czech companies Kooperativa Pojišt’ovna and Ceská Podnikatelská Pojišt’ovna, is to take over his role at VIG’s Board effective September 1, 2024.
Through his career, the executive has held various managerial positions at VIG, including as a member of the Managing Boards in Serbia and Bulgaria.
Commenting on the Supervisory Board’s decision regarding Rath’s appointment, Hartwig Löger, CEO of VIG, said: “We are pleased to welcome experienced manager Christoph Rath to our Managing Board team.
“He will strengthen the country management of VIG Holding, not least thanks to his many years on the management boards of several of our Group companies.”
VIG experienced a “successful” financial year 2023, having reported double-digit premium growth, a solid increase in profit and an improved combined ratio.
Its gross written premiums (GPW) hit €13.8 billion, a 10% increase on 2022, with profit before taxes of approximately €773 million, a 32% increase.
The insurer’s combined ratio was 92.6%, an improvement of 0.2 percentage points on 2022, with an insurance service revenue of €10.9 billion, up 12%, and a solvency ratio of 269%.
