VIG Re has added Michael Klikovits (pictured) to its leadership team to support execution of its VIGRe28 strategy.
Klikovits takes on the role of head of finance and joins the senior leadership team at a stage where financial oversight and capital management are linked to delivery of the strategy.
“Michael’s expertise and experience will play an important role in supporting VIG Re’s future development,” said Wolfgang Hajek, chief financial officer and member of the board of management at VIG Re. “His leadership in finance strengthens our organisation at a pivotal moment.”
Klikovits has been part of Vienna Insurance Group’s finance department since January 2016. He previously worked in group accounting from September 2010 to December 2015.
Earlier in his career, he worked at PwC as an audit assistant from November 2006 to August 2010.
The appointment comes during implementation of VIG Re’s VIGRe28 plan, which aligns with the wider strategic direction of Vienna Insurance Group.
VIG Re’s VIGRe28 strategy is structured around five operational components. These include the use of digital tools and analytics, a capital base supported by the group, a focus on client relationships, workforce capability, and underwriting discipline based on defined controls.
The reinsurer said these elements guide its underwriting approach, capital allocation, and service delivery over the planning period.
The parent group reported premiums of €16.3 billion ($19.23 billion) in 2025, up 7.1%, and profit before taxes of €1,161.3 million ($1,370.33 million), exceeding the €1 billion ($1.18 billion) threshold for the first time, according to company disclosures.
VIG also reported a solvency ratio of 296% and a combined ratio of 90.1%, indicating its capital position and underwriting performance across core Central and Eastern Europe markets.
The group’s evolve28 programme sets targets for at least €20.0 billion ($23.60 billion) in gross written premiums and at least €1.5 billion ($1.77 billion) in profit before taxes by 2028, alongside a maximum combined ratio of 91% and a solvency range of 150% to 200%.
VIG’s recent performance and forward targets provide context for the reinsurance unit’s priorities. The group has outlined plans to increase premiums and earnings over the next three years while maintaining underwriting discipline and capital thresholds.
It is also pursuing the acquisition of Nürnberger Beteiligungs-AG, with 99.2% of share capital secured and completion expected in early H2 2026, subject to regulatory approvals. The transaction is described by the group as contributing to diversification across its operations in Central and Eastern Europe.
Within this context, VIG Re’s finance function operates within a structure that includes capital management and underwriting controls aligned with group-level objectives.
