GRAWE 2022 - Balance Sheet

•  Pre-tax profits (result from ordinary activities) of GRAWE AG were EUR 49.3 million 
• As of 31.12.2022 GRAWE AG has a solvency ratio (Solvency II) of 316.7%
• GRAWE AG equity ratio (25.3%) also grew further in 2022
• Result from ordinary activities of the GRAWE Group was EUR 105.7 million
• On a yearly average, the GRAWE Group employed 5,009 people in 2022 in 13 Central, Eastern and South-Eastern European countries

The path of Grazer Wechselseitige Versicherung starts in 1828. Founded by Archduke John as a regional fire insurance, the Group today comprises 18 subsidiaries in 13 countries in Central, Eastern and South-Eastern Europe. In its more than 190-year corporate history, GRAWE has experienced many highs and lows. Adaptability in order to prove ourselves under the changed conditions in the best possible way and foresighted planning in order to be prepared for future developments were the key to sustainable success then, and continue to be so today.

The 2022 financial year was indeed a challenging one. Like everyone in Austria, the GRAWE Group and its companies were also directly confronted by the high inflation and the accompanying rises in costs. The start of the war in Ukraine in February last year was especially defining, particularly as the GRAWE Group has two companies in this country. When the war began, the contingency plans honed and tested during the coronavirus pandemic were immediately activated. The computer systems were taken down as cyberattacks had already increased hugely before the first rockets, and secure remote access was created in order to uphold business operations. During this time, GRAWE implemented a great number of measures to retain operations and participated in aid projects. The primary goal was and continues to be to ensure that employees are safe and unhurt. But not only the Group companies were involved in numerous aid projects; above all, it was the colleagues from the individual subsidiaries, particularly those from Hungary, Romania and Moldova who set out immediately for the Ukrainian border to take women and children into their homes. Up to ten families have now also been housed and supported in Graz and initiatives started to support the colleagues in need. This remarkable engagement once again highlights the high level of dedication and the cohesion throughout the Group.
GRAWE has always been able to grow from the challenges that it has faced and has always learned new things during this time. In this way, it has succeeded in strengthening its resilience in crises in the long term.

That the joint efforts and the resilience in 2022 have paid off is also reflected in the latest business figures. In the past financial year, a stable result was achieved and total premiums received by GRAWE AG were increased by 10.5% to EUR 767.2 million. The growth in premiums in the non-property and accident insurance amounted to 12.2% and in life insurance the premiums increased by 5.2% compared to the previous year. GRAWE is thus significantly above the figures for the Austrian market as a whole (source Austrian Insurance Association [VVO]: Q4/2022). Furthermore, the number of policies increased by 30,591 or 1.3% to 2,461,545. Pre-tax profits (result from ordinary activities) reached a figure of EUR 49.3 million. With an equity ratio of 25.3%, GRAWE AG is also substantially above the market average in 2022 as well and with a solvency ratio of 316.7%, GRAWE AG considerably exceeds the statutory regulations according to Solvency II. This high figure underlines once again the particular stability and the consistency that have always been characteristic of GRAWE.
At Group level, the GRAWE Group is also posting strong growth in premiums; for instance, total premiums received increased to EUR 1,193.6 million, which corresponds to growth of 11.5%. Its pre-tax profits (result from ordinary activities) in the insurance, banking and real estate sector totalled EUR 105.7 million. The equity of the GRAWE Group increased by 4.2% and amounts to EUR 1,782.6 million.

Despite the changed boundary conditions, the GRAWE Group was able to make very good use of the past financial year for itself and can thus look back at a solid result. In line with the motto of the current financial report “OUR PATH IS OUR TOMORROW”, it is of great importance to the GRAWE Group, its companies and its employees that we proactively shape the future. In this way, it will also be possible in 2023 to continue this course of success.

Many thanks go to all customers, business partners and employees for their solidarity and their loyalty.

Enquiries:

Mag. (FH) Karin Taferner-Bauer | Head of Communication and Marketing | Grazer Wechselseitige Versicherung AG | Tel.: 0316/8037-6430 | E-mail: karin.taferner-bauer•@•grawe.at