EANS-Adhoc: Vienna Insurance Group in the 1st to 3rd Quarter of 2011
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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.
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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
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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