Wiener Städtische Allgemeine Versichererungs AG
euro adhoc: WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group
Financial
Figures/Balance Sheet
Wiener Städtische Versicherung AG Vienna Insurance Group
(Vienna Insurance Group) IFRS Figures for 2006*:
Record profit (before tax) -
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Financial Figures 2006
29.03.2007
Please note: this is a translation; only the German version of this release is legally binding.
increase by approx. 34 percent to EUR 321 million
Group's premiums grow by nearly EUR 900 million to approx. EUR 5.9 billion
CEE share in Group's premiums totaling approx. 38 percent, in the property/casualty insurance business approx. 52 percent
CEE premiums to surpass EUR 2 billion mark for the first time
Dividend increase by approx. 25 percent planned
OVERVIEW OF KEY GROUP DATA IN THE YEAR 2006 *:
In 2006, the Vienna Insurance Group posted an increase of 17.4 percent, achieving a total of EUR 5.88 billion in consolidated premiums written (without other insurance participations) as compared to the previous year.
(Including other insurance participations, non-consolidated premiums written amounted to EUR 6.12 billion in the business year 2006. This is 17.0 percent up from the previous year.)
The Group's profit (before tax, consolidated) rose by EUR 80.63 million to EUR 320.97 million in 2006. This is again a significant increase of 33.5 percent as compared to the Group's profit (before tax) in 2005. It is remarkable that this profit was achieved in spite of the increased expenses for claims incurred caused by snow pressure and flooding.
It will be suggested to the competent corporate bodies to increase the dividend by 16 cent to 82 cent per share. This is approximately 25 percent up from last year's dividend.
At 96.9 percent, the combined ratio of the Group after reinsurance (not considering investment income) was clearly below the 100 percent mark in 2006 again. Particularly in view of the growing number of losses caused throughout Europe by acts of God (in 2006, snow pressure and flooding), the continuation and optimization on a Group-wide basis of active claims management and selective risk underwriting is of decisive importance in this area.
The financial result was improved by 18.3 percent compared to 2005, attaining EUR 716.45 million.
The expenses for claims incurred rose by 16.4 percent to EUR 4.21 billion.
As of December 31, 2006, the total investments of the Group amounted to EUR 19.60 billion. This constitutes an increase of 15.8 percent.
* These figures are subject to an audit to be performed by the auditors and approval by the supervisory board of the Vienna Insurance Group. Companies that have been acquired only recently are not included in the Group premiums of the Vienna Insurance Group.
Wiener Städtische Versicherung AG Vienna Insurance Group A-1010 Wien, Schottenring 30 ISIN: AT0000908504
You will also find this press release on http://www.wienerstaedtische.at under Ad-hoc News
end of announcement euro adhoc 29.03.2007 07:25:09
Further inquiry note:
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
Barbara Hagen-Grötschnig, MBA
Corporate Communications
Schottenring 30, 1010 Vienna
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 von: Wiener Städtische Allgemeine Versichererungs AG, übermittelt durch news aktuell