Generali Holding Vienna AG

euro adhoc: Generali Holding Vienna AG
quarterly or semiannual financial statement
Generali Vienna: Strong Growth in Life Insurance

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Generali Vienna: Strong Growth in Life Insurance

- Premiums in life insurance increased by nearly a quarter. - Profit on ordinary activities grows to EUR 128.5 million. - Profit from investing activities up nearly 7%.

Brisk consumer demand for private pension and savings products generated a strong growth in the Generali Vienna Group's life insurance operations during the first three quarters of 2005. Including the savings components of unit-linked and index-linked life insurance policies, consumers spent a total of EUR 684.5 million on Generali's personal pension and savings range. That was EUR 126.6 million or 22.7% more than the equivalent figure for the same period of 2004. Even without savings components, the group's premium income from life insurance increased by 8.1% to EUR 492.1 million. As a result, Generali's life insurance portfolio grew substantially, expanding by 13.2% to a total of EUR 27.2 billion.  Generali's other insurance segments also grew appreciably. Premium income from health insurance advanced by 3.7% to EUR 135.6 million, and the group's property/casualty insurance operations grew by 3.3% to EUR 1,430.9 million. As planned, its premium income from reinsurance business was stable on the first three quarters of 2004 at EUR 80.3 million. Overall, the Generali Vienna Group's premium income during the first three quarters of 2005 was 8.2% up on the year at EUR 2,331.3 million (without savings components: 4.3% up on the year at EUR 2,138.9 million).

Costs continue to fall    Claims and benefits paid between January and the end of September were 0.5% down on the year at EUR 1,492.4 million. During the same period, the Generali Vienna Group was able to cut its costs by 1.3% to EUR 451.0 million.

Generali's investments totalled EUR 9,388.2 million on 30 September 2005, or 8.8% more than at 2004 year-end. This fully integrated financial services group recorded current income from investing activities of EUR 335.6 million, which was 6.7% more than in the first three quarters of 2004.

Profit from ordinary activities also grew rapidly to total EUR 128.5 million, or 14.0% more than in the same period of the previous year. Karl Stoss, Chairman of Generali's Managing Board, is expecting another substantial increase in full-year profit from ordinary activities.

Under IFRS, according to the Austrian regulation, technical items of Balance Sheet and Income Statement are presented based on US-GAAP.

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ots Originaltext: Generali Holding Vienna AG
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Further inquiry note:
Generali  Holding Vienna AG
Josef Hlinka
Tel.: (++43-1) 534 01-1375
Fax: (++43-1) 534 01-1593

Branche: Insurance
ISIN:      AT0000661350
WKN:        873075
Index:    WBI, ATX Prime
Börsen:  Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Wiener Börse AG / official dealing

Weitere Meldungen: Generali Holding Vienna AG

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