Changes in Management and Market Responsibilities at VIG Re

Starting 1 April 2018, VIG Re has realigned its organizational structure and management responsibilities to drive operational efficiencies and secure its cost leadership.

Dusan BOGDANOVIC took over the lead on the new unit "Foreign Operations", coordinating the back-office operations in the current and newly planned branch offices and the subsidiary of the Company. Furthermore, he is leading the establishment of a new service company based in Belgrade, responsible for administrative and analytical support of the underwriting entities, levering the beneficial conditions of the local employment market.

VIG Re is already 100% owner of Wiener Re a.d.o., a local Serbian reinsurer. In order to focus on his new assignments, BOGDANOVIC left his former position as member of the Board of Directors. With effect of 1 April 2018, the Board of Directors consist of Johannes Martin HARTMANN (Chairman), Ivana JURCIKOVA and Tomasz ROWICKI.

Also beginning with 1 April, Patrick CHEVREL, Head of the Western Europe, took over market responsibility for Italy, in addition to his responsibilities for France, Belgium and Luxemburg. Olaf DIETRICH, Head of Non-Life Underwriting assumed responsibility for the Accident & Health line of business in addition to the Property & Casualty business assumed by the Company.

VIG RE is the first reinsurer to obtain a licence in the Czech Republic. The company started its business on 8 August 2008 and received an "A+" rating with a stable outlook from Standard & Poor's in the same year. This rating has been maintained and was again confirmed on 18 August 2017. VIG Re pursues a conservative investment strategy and reserving policy. The successful execution of its strategy is reflected in the steadily rising number of cedents, which exceeds 300 companies by the end of 2017.

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