Vienna Insurance Group AG (OTCPK:VNRFY) Q3 2024 Earnings Conference Call November 26, 2024 9:00 AM ET
Company Participants
Nina Higatzberger – Head of Investor Relations
Liane Hirner – CFO
Peter Hofinger – Deputy CEO
Conference Call Participants
August Marcan – UBS
Thomas Unger – Erste Group
Bhavin Rathod – HSBC
Operator
Ladies and gentlemen, welcome to the VIG Update for the First Three Quarters 2024 Conference Call and Live Webcast. I’m Sandra, the Chorus Call operator. I would like to remind you that all participants are being in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions] The conference must not be recorded for publication or broadcast.
At this time, it’s my pleasure to hand over to Nina of Investor Relations. Please go ahead.
Nina Higatzberger
Thank you, Sandra, and welcome to today’s Vienna Insurance Group Conference Call. Liane Hirner, our CFO, will guide you through the presentation. After the presentation, Peter Hofinger, our Deputy CEO, and Liane Hirner will be happy to answer your questions regarding the nine months 2024 update. Liane, please go ahead.
Liane Hirner
A warm welcome also from my side to our update of the first nine months of this year. In today’s presentation, we will share in addition to the gross written premiums insolvency ratio, also the IFRS 17/9 KPIs, insurance service revenue, profit before taxes, and net P&C combined ratio. Overall, the three quarters of this year were characterized by the strong operational performances of our group companies.
With gross written premiums up by 8% in nine months 2024 and insurance service revenue increasing by 9.3%, we continue to deliver growth not only in the top-line, profit before taxes growing by 8.5% as well despite the impact of Boris, the CEE NatCat storm flood event in September underpins
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