euro adhoc: Vienna Insurance Group
Financial Figures/Balance Sheet
Vienna
Insurance Group in first quarter of 2008 according to IFRS*:
Growth continues:
Profit (before taxes) increases by approx. 24 percent to approx. EUR 125
million
Group p
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
quaterly report
20.05.2008
Please note: this is a translation; only the German version of this release is legally binding.
OVERVIEW OF KEY GROUP DATA FOR THE 1st QUARTER OF 2008*
In the first quarter of 2008, Vienna Insurance Group achieved a growth of 14.5 percent compared to the previous year, with consolidated premiums written (without other insurance participation) at a total of EUR 2.31 billion.
Group profit (before taxes, consolidated) grew by a significant 23.9 percent to a total of EUR 124.85 million. This corresponds to an increase of EUR 24.12 million.
The combined ratio of the Group after reinsurance (without taking into account investment income) also decreased in comparison to the previous year. It currently stands at 95.5 percent for the 1st quarter (1st quarter 2007: 96.4 percent), despite the damage incurred by the storms "Paula" and "Emma". With regard to the situation on the capital markets the financial results decreased to an amount of EUR 175.58 million (minus 14.5 percent) in the first quarter of 2008. This was more than made up for by the sound technical result and led to the outstanding increase in Group profit (before taxes) of approximately 24 percent. On 31 March 2008 the investment volume of the Group was maintained at approximately EUR 20 billion.
* Recently purchased companies are not included in the Group premiums for Vienna Insurance Group.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
A-1010 Wien, Schottenring 30
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at
Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: WBI, ATX Prime, ATX
Börsen: Prague Stock Exchange / stock market
Wiener Börse AG / official market
Original content of: Vienna Insurance Group, transmitted by news aktuell