EANS-Adhoc: Vienna Insurance Group
Sustainable increase in earnings: Vienna
Insurance Group in the first half-year of 2011
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 18.08.2011 - Group premiums up 3.1 percent at over EUR 4.7 billion - Continuing upward trend in life insurance in CEE core markets - Strong growth in property/casualty insurance - Profit (before taxes) up 10.4 percent at EUR 282.2 million - CEE markets account for more than 50 percent of premiums and profit - VIG is already number 3 insurer in Poland I. OVERVIEW OF KEY GROUP DATA FOR THE FIRST SIX MONTHS OF 2011 (in accordance with IFRS) The Vienna Insurance Group earned a total of EUR 4.7 billion premiums written (consolidated) in the first half-year 2011, up 3.1 percent compared to first half-year 2010. The Group profit (before taxes, consolidated) amounted to EUR 282.2 million in the first half-year 2011. This represented a sharp 10.4 percent increase compared to first half-year 2010. The Group combined ratio after reinsurance (excluding investment income) came in at 97.1 percent for the first half-year of 2011, following 98.3 percent for first half-year 2010. The Vienna Insurance Group held investments of approximately EUR 29.0 billion (incl. bank balances) as at 30 June 2011, and posted a financial result of EUR 554.2 million. II. OUTLOOK For many years, the management of Vienna Insurance Group has aspired to minimise volatility in premiums and profit while ensuring a strong capital base for the Group. Continuing this successful and durable strategy, Vienna Insurance Group expects an increase in profit (before taxes) of about 10 percent and a low percentage growth of premium. Moreover, the Group has set itself the target of holding the combined ratio at about 97 percent. The prerequisite is, however, that the economic and legal framework will not deteriorate significantly and that damage caused by natural disasters will not develop dramatically. Further inquiry note: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe 1010 Wien, Schottenring 30 Alexander Jedlicka Public Relations, Spokesperson Tel.: +43 (0)50 350-21029 Fax: +43 (0)50 350 99-21029 E-Mail: alexander.jedlicka@vig.com Thomas Schmee Head of Investor Relations Tel.: +43 (0)50 350-21900 Fax: +43 (0)50 350 99-21900 E-Mail: thomas.schmee@vig.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Vienna Insurance Group Schottenring 30 A-1011 Wien phone: +43(0)50 350-21919 FAX: +43(0)50 350 99-23303 mail: investor.relations@vig.com WWW: www.vig.com sector: Insurance ISIN: AT0000908504 indexes: WBI, ATX Prime, ATX stockmarkets: stock market: Prague Stock Exchange, official market: Wien language: English
Original content of: Vienna Insurance Group, transmitted by news aktuell