Vienna Insurance Group

euro adhoc: Vienna Insurance Group
Financial Figures/Balance Sheet
Vienna Insurance Group in 2007, in accordance with IFRS*: Excellent result for 2007 Profits (before taxes) of more than EUR 437 million (plus 36.2 percent) ...

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Please note: this is a translation; only the German version of this release is legally binding.


Compared to the previous year, in 2007 the Vienna Insurance Group achieved growth of 17.5 percent in consolidated premiums written (without other insurance participations), amounting to a total of EUR 6.91 billion.

Group profits (before taxes, consolidated) grew by an impressive 36.2 percent compared to the previous year, to a total of EUR 437.30 million. This is an increase of approximately EUR 116.33 million.

The positive business development makes possible an increase in the dividend from 82 cents to EUR 1.10 per share, as will be recommended to the competent corporate bodies. This represents a significant increase of just over 34 percent compared to the previous year's dividend.

The Group's combined ratio after reinsurance (not considering investment income) of 95.5 percent was again an improvement on the previous year. Despite the storm damage suffered last year the figure was well below the 100 percent mark.

Compared to 2006, the financial result increased by almost 40 percent to EUR 1.00 billion. This increase, attained despite the turbulence that hit equity markets during the second half of 2007, underlines the Vienna Insurance Group's the long-term sustainable conservative investment policy.

Total Group investments amounted to EUR 23.24 billion on 31st December 2007, which represents growth of 18.6 percent compared to year end 2006.


As reported, the Vienna Insurance Group has signed an agreement to acquire all of the insurance activities from Erste Bank. With regard to possible conditions to anti-trust approvals in connection with the transaction, the Vienna Insurance Group considers the sale of shares in Bank Austria Creditanstalt Versicherung and the Romanian insurance company Unita. After excluding expected premiums and profits (before taxes) of these two companies, the Vienna Insurance Group sets new and ambitious targets for 2011. For the year 2011, Group profit (before taxes) of more than EUR 1 billion and premiums in the amount of more than EUR 12 billion will be targeted. The CEE share in total Group premiums is expected to increase to more than 50 percent.

* The most recently acquired companies are not included in the Group premiums for the Vienna Insurance Group.

Disclaimer: This release contains forward-looking statements based   on  the  currently  held beliefs and assumptions of the management of Wiener Städtische  Versicherung  AG Vienna Insurance Group ("VIG"), which are expressed in good faith and, in  their opinion, reasonable. These  statements  may  be  identified  by  words  such  as "expectation" or "target" and similar expressions, or by their context. Forward- looking statements involve known and  unknown   risks,  uncertainties  and  other factors, which may cause the actual results, financial  condition,  performance, or achievements of VIG, or results  of  the  insurance  industry  generally,  to differ   materially  from    the    results,    financial    condition,     performance or achievements express or implied by  such   forward-looking  statements.  Given these risks, uncertainties and other factors, recipients of this  press  release are cautioned not to place undue reliance on these  forward-looking  statements. VIG disclaims any obligation  to  update  these  forward-looking   statements  to reflect future events or developments.

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ots Originaltext: Vienna Insurance Group
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Further inquiry note:
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

Branche: Insurance
ISIN:      AT0000908504
WKN:        A0ET17
Index:    WBI, ATX Prime, ATX
Börsen:  Prague Stock Exchange / stock market
              Wiener Börse AG / official market

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