Skagi

ABOUT THE COMPANY

The Skagi Group is a brand consisting of the three independent subsidiary companies VIS, Fossar Investment Bank, and Islensk Verdbref. This change was announced early 2023 and was made official later that year. Through the addition of both Fossar Investment Bank and Islensk Verdbref, the company will generate broadened income streams through its financial services. Connecting the Icelandic economy with international markets remains a central priority to the Group.

VIS is one of Iceland’s leading insurance providers. Established in 1989 through the merger of two insurance companies, Brunabotafelag Íslands and Samvinnutryggingar, VIS has roots tracing back to 1917 and has played an influential role in shaping Iceland’s insurance sector. Today, VIS continues to offer comprehensive insurance services and possesses about one-third of the market share. With 235 employees, VIS operates forty-one locations throughout Iceland. Its operating segments include Casualty insurance, Life insurance, and Financial activities with its Casualty segment making up the majority of its revenue. In 2025, VIS announced a strategic partnership with Islandsbanki to improve customer service and increase the number of customers by combining the two firms' efforts.

On April 24, 2013, the company began trading on the Main Market of the NASDAQ OMX Iceland. In October of 2023, VIS merged with Fossar Investment Bank, broadening its existing customer base and strengthening its financial services portion of the company. The recent purchase of Íslensk verðbréf, a well known Icelandic financial service boutique firm will strengthen the group´s growing asset management and fund services.

SUSTAINABILITY

Skagi is a member of Festa , a center for sustainability, IcelandSIF , an organization for responsible investment, as well as UN-PRI, the United Nations Principles for Responsible Investment. Skagi is also a member of the UN Global Compact, the United Nations' international treaty for the implementation of responsible business practices.

Environment

Skagi received 88 points for the environmental aspect in Reitun's UFS assessment, increasing by one point between years. The summary states that Skagi operates according to measurable environmental goals and has purchased certified carbon credits for measured emissions. VÍS also aims to calculate emissions from its insurance and property portfolio, which no insurance company has so far calculated from the carbon footprint of insurance. VÍS conducts risk assessments with regard to climate change, which is part of the company's risk management system, and the involvement of the board and management in climate-related issues is active. It should be noted that the greatest environmental impact of insurance companies relates to losses and claims.

Skagi specifically supports the following United Nations Global Goals:

Goal 3: Health and well-being. With prevention at the forefront, we reduce harm and encourage better lifestyles. Target 3.6 includes reducing road traffic fatalities.

Global Goal 5: Gender Equality. Skagi places special emphasis on gender equality through an equality policy and code of conduct. Skagi prides itself on an active equal pay policy and maintaining equal pay certification.

Global Goal 8: Decent jobs and economic growth. We secure businesses, their operations and assets. In this way, we ensure decent jobs and economic growth. By working with businesses, we reduce losses and improve worker safety. Target 8.8 includes promoting a safe and secure working environment for all workers. By working with our customers, we contribute to a safe working environment through strong prevention.

SDG 12: Responsible consumption and production. Responsible consumption and production through the implementation of sustainable development.