EANS-Adhoc: Vienna Insurance Group in the 1st to 3rd Quarter 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. -------------------------------------------------------------------------------- 15.11.2011 - Group premiums increased by 4.0 percent to more than EUR 6.8 billion - Continuing upward trend in the life insurance business in the CEE core markets - Strong growth in property insurance - Profit (before taxes) went up by about 10 percent to EUR 414.1 million I. OVERVIEW OF KEY GROUP DATA FOR THE FIRST THREE QUARTERS OF 2011 (in accordance with IFRS) In the first three quarters of the current year Vienna Insurance Group increased its premiums written (consolidated) by 4.0 percent to a total of EUR 6.8 billion, compared to the same period of the previous year. The Group profit (before taxes, consolidated) went up by 9.6 percent to a total of EUR 414.1 million, compared to the first three quarters of 2010. The combined ratio of the Group after reinsurance (excluding investment income) amounted to 97.2 percent - after 98.2 percent in the respective period of the previous year. The investments of the Group rose by about EUR 370 million including liquid funds, totalling approximately EUR 29 billion as of 30 September 2011. The financial result amounted to EUR 798.6 million. This figure reflects, inter alia, the impact of the write-down to a value of 50 percent on the portfolio of Greek government bonds. Moreover, the portfolio of Italian government bonds was written down by ten percent. II. OUTLOOK The Management of Vienna Insurance Group has been striving for many years to avoid volatilities of premiums and of the profit as well as to ensure the sound capitalisation of the Group. This will remain a key objective of the Group in the near future, particularly in view of the current global economic environment as well as the European economic and currency situation. 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