Wiener Städtische Allgemeine Versichererungs AG
euro adhoc: Wiener Städtische Allg. Vers. AG
Financial Figures/Balance Sheet /
Vienna Insurance Group/ Wiener Städtische 2005:
New umbrella brand Vienna Insurance Group /
Wiener Städtische Group* passes the EUR 5 billion mark in premiums /
Group profit
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
24.01.2006
Please note: This is a translation; only the German version of this news release is authentic.
The Vienna Insurance Group is the new umbrella brand of Wiener Städtische. In addition to their decentralized independent market presence, the individual insurance companies in Central and Eastern Europe will present themselves under the common umbrella. With the umbrella brand, Wiener Städtische wants to underline its financial strength as a large Central European insurance company headquartered in Vienna.
OVERVIEW OF KEY DATA FOR THE FINANCIAL YEAR 2005
In the financial year 2005, the Vienna Insurance Group (including other insurance participations) according to preliminary data was able to increase its unconsolidated premiums written by 20.7 percent to a total of EUR 5.34 billion as compared to the previous year.
In view of the excellent development in the financial year 2005 group profit (before taxes) is expected to increase from about EUR 156 million in 2004 to about EUR 230 million in 2005. Thus the previous EUR 220 million profit (before taxes) target will be exceeded.
The Group's combined ratio after reinsurance (not including investment income) is expected to be well below the 100 percent mark for the year 2005.
From today's point of view, it will be suggested to the decision-making bodies to increase the dividend by about 30 percent to about 60 cent per share.
After an excellent financial year 2005 with a successful capital increase, the upward trend continues. The new targets that have been set after this capital increase are achieving group profit (before taxes) of about EUR 270 to 290 million for the year 2006 and of about EUR 320 to 350 million for the year 2007.
* The data for Wiener Städtische Group include the group companies and other insurance participations. The figures for 2005 are based on preliminary data.
Wiener Städtische Allgemeine Versicherung AG A-1010 Vienna,
Wiener Städtisches press releases are also available at www.wienerstaedtische.at
end of announcement euro adhoc 24.01.2006 08:36:17
Further inquiry note:
Mag. Barbara Hagen-Grötschnig
Wiener Städtische Unternehmenskommunikation
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: ATX Prime, ATX, WBI
Börsen: Wiener Börse AG / official market
Original content of: Wiener Städtische Allgemeine Versichererungs AG, transmitted by news aktuell