Disclosure Of Material Accounting Policy Information [Text Block]
| Concept |
2024-01-01 to 2024-12-31 |
|---|---|
| Disclosure of material accounting policy information [text block] |
Accounting policies
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| Description of accounting policy for borrowings [text block] |
Measurement categories of financial liabilities
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| Description of accounting policy for business combinations and goodwill [text block] |
Accounting for business combinations
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| Description of accounting policy for collateral [text block] |
Collateral valuation and repossessed
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| Description of accounting policy for deferred acquisition costs arising from insurance contracts [text block] |
Insurance acquisition costs
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| Description of accounting policy for deferred income tax [text block] |
Income tax expenses include current and deferred taxes. When transactions are recognised directly in equity, the corresponding income tax is likewise recognised in equity with no effect on the income statement. The current taxes for the individual companies of VIG Insurance Group are calculated on the basis of the companies’ taxable net income and the tax rate applicable in a given country.
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| Description of accounting policy for derecognition of financial instruments [text block] |
derecognition
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| Description of accounting policy for dividends [text block] |
Dividends are recognised as other operating income in the income statement when the right of the payment has been established. Except when such proceeds are beneficial as a recovery of part of the acquisition cost of the instrument. Equity instruments designated measured at FVtOCI are not subject to any impairment test.
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| Description of accounting policy for expenses [text block] |
General information
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| Description of accounting policy for fair value measurement [text block] |
Financial instruments recognised at fair value (Level 3)
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| Description of accounting policy for finance costs [text block] |
Financial liabilities
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| Description of accounting policy for financial assets [text block] |
Financial assets
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| Description of accounting policy for financial instruments [text block] |
Financial instruments
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| Description of accounting policy for financial instruments at fair value through profit or loss [text block] |
Financial assets measured at FVtPL
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| Description of accounting policy for financial liabilities [text block] |
Debt instruments measured at amortised cost
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| Description of accounting policy for foreign currency translation [text block] |
Currency translation
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| Description of accounting policy for goodwill [text block] |
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| Description of accounting policy for impairment of financial assets [text block] |
Impairment of financial assets
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| Description of accounting policy for impairment of non-financial assets [text block] |
Impairments
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| Description of accounting policy for income tax [text block] |
Taxes
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| Description of accounting policy for issued capital [text block] |
Consolidated shareholders’ equity
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| Description of accounting policy for leases [text block] |
VIG Insurance Group applies the option of the simplified approach for trade receivables and receivables from leases in accordance with IFRS 9.5.5.15. In order to fulfil the relevant requirements, an Impairment Provision Matrix is used for receivables, which can be found in Note 2.5. Credit risk starting on page 175.
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| Description of accounting policy for interest income and expense [text block] |
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| Description of accounting policy for investment property [text block] |
Investment property
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| Description of accounting policy for programming assets [text block] |
Intangible assets
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| Description of accounting policy for property, plant and equipment [text block] |
Owner-occupied property
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| Description of accounting policy for provisions [text block] |
Provisions
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| Description of accounting policy for recognition of revenue [text block] |
Basis of revenues
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| Description of accounting policy for reinsurance [text block] |
(Re-)Insurance contracts
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| Description of accounting policy for repurchase and reverse repurchase agreements [text block] |
Repurchase and reverse repurchase agreements
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| Description of accounting policy for segment reporting [text block] |
Segment reporting
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| Description of accounting policy for trade and other payables [text block] |
Liabilities
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| Description of accounting policy for trade and other receivables [text block] |
Receivables and Liabilities
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| Description of accounting policy for transactions with related parties [text block] |
Related persons and companies
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