Vienna Insurance Group \u2013 the largest investor in Georgia\u2019s insurance market \u2013 is celebrating its 200th anniversary. Two centuries of development have been marked by strong responsibility, stable growth, and long-term investments in the countries where the Group operates \u2013 including Georgia.<\/p>\n
Founded in 1824 in Austria, during the era of the Habsburg Monarchy, the leading insurance group in Central and Eastern Europe now unites around 50 companies in nearly 30 European countries, with a workforce of approximately 30,000 employees.<\/p>\n
Discover the exclusive interview with G\u00fcnter Geyer<\/strong>, Austria\u2019s most successful insurance manager and Chairman of the Supervisory Board of Vienna Insurance Group, and learn about the principles behind a group that has played a major role in the development of Georgia\u2019s insurance market.<\/p>\n You joined the then Wechsel\u00adseitige in 1974 and have sig\u00adnificantly shaped the compa\u00adny in various leadership roles over the years. Which topics and princi\u00adples were important back then, which are important today, and which will continue to be so in the future?<\/strong><\/p>\n Geyer: When I started here 50 years ago, Wechselseitige had just opened Vienna\u2019s first-ever company kindergarten. A signif\u00adicant contribution to promoting gender equality at the time. This topic has always been very important to us, and the com\u00adpany has received various awards for its activities in this area. Today, half of the Wiener St\u00e4dtische board team are wom\u00aden, and in Serbia, three out of four board members are female. We are all about di\u00adversity, variety, and equality \u2013 and this is reflected throughout the entire Group.<\/p>\n Why was \u2013 and is \u2013 social and cultural engagement important?<\/strong><\/p>\n Geyer: Insurance companies have a duty of care that goes beyond business. That\u2019s why we also support social initiatives, for example, through the Social Active Day, where our employees are personal\u00adly involved in a range of voluntary activ\u00adities. Solidarity and social engagement are highly valued at Wiener St\u00e4dtische Versicherungsverein, VIG Holding, and throughout the Group \u2013 from board mem\u00adbers to apprentices. These days, every\u00adone\u2019s talking about ESG, but for us the social aspect has always been important. The insurance business is an extremely sustainable industry by nature. And be\u00adcause we also focus on the E in ESG, we prioritise investment in sustainable infra\u00adstructure, for example.<\/p>\n We also support artists and promote culture. In fact, we have been doing this since the 1930s. And it\u2019s something that we continue to focus on closely to this day, including in CEE countries. Our activ\u00adities in the Czech Republic deserve partic\u00adular mention in this respect.<\/p>\n In the past, the Group has pursued a multi-brand strategy that involves en\u00adtrusting responsibility to local manag\u00aders. And VIG continues to do that today. What\u2019s the motivation for this approach?<\/strong><\/p>\n If a company that we acquire al\u00adready has a good name and a strong brand, both should be kept; they won\u2019t simply be renamed. Often, these com\u00adpanies enjoy strong brand recognition in their markets, and we obviously want to maintain that \u2013 also out of respect for the customers. Local management generally has a better insight into what is important for customers in a particular market. The headquarters in Vienna is farther away and can never be dialled in as closely as the people on the ground. That\u2019s why we believe so strongly in local responsibili\u00adty. Our local managers target the needs of their specific customer base because they\u2019re the ones who understand the market environment best. They certainly don\u2019t take \u201corders\u201d from Vienna. And this approach adds value for the entire Group.<\/p>\n The premiums collected in a given coun\u00adtry are reinvested there. Why do you do that?<\/strong><\/p>\n Geyer: Well, we follow the principle that premiums earned by a company should be reinvested in that particular coun\u00adtry over time \u2013 in housing, government bonds, or equity investments. We also see this as a sign of respect and recogni\u00adtion towards policyholders. Through this, we help to stimulate growth, secure jobs, play a positive role in economic devel\u00adopment, and invigorate the local capital market. And this approach also prevents a form of \u201ceconomic colonisation\u201d.<\/p>\n The Vienna Insurance Group sees itself as a group and repeatedly emphasises that it is not a corporation. Why is that so important to you?<\/strong><\/p>\n Geyer: We are committed to communi\u00adcating on an equal footing throughout the Group. We think in terms of partnerships and aren\u2019t interested in issuing edicts or adopting a top-down style. Which is not always how things are at giant corpora\u00adtions. But from experience we have con\u00adsistently seen that we achieve significant\u00adly better results with a Group approach. Niche policies in particular can be im\u00adplemented very successfully within this framework.<\/p>\n Which topics are important or set to be\u00adcome more so in future, aside from pro\u00adviding coverage against risks?<\/strong><\/p>\n Geyer: For us, customers come first, and we take care of their concerns and needs. We use modern service facilities and cus\u00adtomer support and assistance systems, which we are expanding continuously. However, comprehensive customer orien\u00adtation also means commitment in other areas, such as affordable housing.<\/p>\n S<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Vienna Insurance Group \u2013 the largest investor in Georgia\u2019s insurance market \u2013 is celebrating its 200th anniversary. Two centuries of development have been marked by strong responsibility, stable growth, and long-term investments in the countries where the Group operates \u2013 including Georgia. Founded in 1824 in Austria, during the era of the Habsburg Monarchy, the […]<\/p>\n","protected":false},"author":797,"featured_media":209241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1747,1736],"tags":[],"class_list":["post-209240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-partner-en","has-thumb"],"yoast_head":"\n