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.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

VIG retains listing in two sustainability indices

Vienna Insurance Group (VIG) has once again been included in the Austrian sustainability index VONIX and the global FTSE4Good index. Both sustainability indices include companies that are committed to environmental protection, social responsibility and good governance.

2018-08-20

NN Group acquires AEGON Czech Republic and AEGON Slovakia

NN Group announced that it has reached an agreement to acquire AEGON's Life Insurance business in the Czech Republic and AEGON's Life Insurance and Pension businesses in Slovakia for a total consideration of EUR 155 million.

2018-08-20

ZURICH H1 BOP up by 12% y-o-y

ZURICH Insurance Group reported H1 business operating profit (BOP) up 12% y-o-y to USD 2.42 billion and first half net income after tax attributable to shareholders up y-o-y 19% to USD 1.79 billion.

2018-08-13

HANNOVER Re, 1H: Double-digit growth in premium and operating profit

Reinsurer HANNOVER Re announced its 1H2018 business results confirm the FY2018 profit guidance with expected net income of more than EUR 1 billion, if large loss expenditure will not significantly exceed EUR 825 million and no unforeseen distortions on capital markets will be recorded.

2018-08-13

ALLIANZ SE, 1H2018: strong results for 2Q 2018; full-year outlook confirmed

ALLIANZ Group's operating profit decreased y-o-y by 1.8% in 1H2018. Yet, overall, the operating profit for 1H is slightly above the mid-point of the group's target range. Lower income taxes compensated for the lower operating profit and non-operating result: net income attributable to shareholders was therefore stable at EUR 3.8 billion.

2018-08-08

ON THE MOVE

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all