Vienna Insurance Group

EANS-Adhoc: Vienna Insurance Group

  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
Mid Year Results


      Operating result increases sharply to EUR 330.7 million (+9.5 percent)

      Profit before taxes amounts to EUR 205.7 million (-31.9 percent) due to
      precautions and impairments

      Premiums of more than EUR 5 billion

      Severe weather claims: compensation paid to customers triples to approx.
      EUR 230 million

      Despite precautions and severe weather claims, the combined ratio remains
      below 100 percent

Key Group data for the first half-year of 2013

In a challenging market environment Vienna Insurance Group achieved a sound
premium development. Consolidated premiums written amounted to EUR 5.0 billion
(-4.8 percent). The premium income was influenced by the restraint in the short-
term single-premium business in Poland. Without this special effect, premiums
grew by 2.2 percent.

Despite tough competition in the property/casualty insurance, the premium
volume remained at a stable level of EUR 2.6 billion.

The life segment was impacted by the restraint in the short-term single-premium
business in Poland. In this segment the Group earned premiums of EUR 2.2
billion (-10.3 percent). Adjusted for the Polish effect, a significant growth
of 5.4 percent was achieved. Regular premiums in life increased by 1.2 percent.

Premiums in health continued to grow steadily to EUR 199.1 million
(+2.5 percent).

The operating result rose by 9.5 percent to EUR 330.7 million. In line with the
conservative accounting policy of Vienna Insurance Group, goodwill impairment
amounting to EUR 75 million and precautionary measures of EUR 15 million have
been made in Romania. Additional precautions of EUR 35 million were recognised
for the insurance business of Donau Versicherung in Italy. Hence, the profit
(before taxes) of the Group amounted to EUR 205.7 million.

The financial result of the Group for the first half-year of 2013 totalled EUR
593.0 million, growing by 1.9 percent. The investments of the Group - including
cash and cash equivalents - amounted to EUR 29.4 billion as of 30 June 2013.

Further inquiry note:
Wiener Versicherung Gruppe
1010 Wien, Schottenring 30

Alexander Jedlicka 
Head of Public Relations, Spokesperson 
Tel.: +43 (0)50 390-21029 
Fax: +43 (0)50 390 99-21029 

Nina Higatzberger
Head of Investor Relations
Tel.: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920

end of announcement                               euro adhoc 

issuer:      Vienna Insurance Group
             Schottenring 30
             A-1010 Wien
phone:       +43(0)50 390-21919
FAX:         +43(0)50 390 99-23303
sector:      Insurance
ISIN:        AT0000908504
indexes:     WBI, ATX Prime, ATX
stockmarkets: official market: Wien, stock market: Prague Stock Exchange 
language:   English

Weitere Meldungen: Vienna Insurance Group

Das könnte Sie auch interessieren: