Tous Actualités
Suivre
Abonner Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

euro adhoc: WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group
quarterly or semiannual financial statement
Vienna Insurance Group: Record result for Quarters 1 - 3 of 2007: At EUR 324 million, profit (before taxes) is already up from the ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
9-month report
14.11.2007
Please note: this is a translation; only the German version of this 
release is legally binding.
KEY GROUP DATA FOR QUARTERS 1 - 3/2007
With consolidated premiums written (without other insurance 
participations) of EUR 5.03 billion in the aggregate, the Vienna 
Insurance Group in the first three quarters of 2007 achieved an 
increase of 16.5 percent as compared to the same period of the 
previous year. Thus, the five billion euro mark was surpassed for the
first time at the end of the third quarter.
The Group's profit (before taxes, consolidated) was increased by a 
remarkable 40.5 percent to EUR 324.21 million in the first three 
quarters of the current year. Thus, the overall result of the year 
2006 was surpassed already after only nine months.
At 95.9 percent, the combined ratio of the Group after reinsurance 
(not considering investment income) was improved as compared to the 
previous year's figure (97.0 percent) in spite of the storm damage 
suffered in the current year.
The financial result was EUR 743.08 million in the first nine months 
of the current year and was up by a remarkable 38.0 percent from the 
same period of the previous year. This positive financial result 
underscores the rightness of the conservative investment policy 
pursued by the Vienna Insurance Group. The Vienna Insurance Group did
not make investments in the US subprime market and did not get 
involved with companies whose portfolios include such investments. 
Thus for the Group, no negative effects are expected now or in the 
future.
The expenses for claims incurred in the property/casualty segment 
amounted to EUR 1.31 billion. Despite storm damage the expenses rose 
sub-proportionally relative to the premiums, namely by 15.3 percent. 
The expenses for claims and insurance benefits from the life segment 
amounted to EUR 2.06 billion (up 23.1 percent).
The total investments of the Vienna Insurance Group increased from 
EUR 19.60 billion as of 31 December 2006 to EUR 22.10 billion as of 
30 September 2007. This translates to a 12.7 percent increase.
INCREASE OF THE DIVIDEND FOR 2007 PLANNED
The systematic implementation of the Group's policy as well as the 
increase in income and profit and the ensuing improvement of the 
positions on the most important markets in the first nine months of 
the current year make it possible to raise the dividend for the year 
2007 from EUR 0.82 to EUR 1.10 per share - subject to the approval of
the competent corporate bodies.
MANAGEMENT SETS AMBITIOUS TARGETS UNTIL 2010
Profit (before taxes) 2007: approx.  EUR 435 million
Profit (before taxes) 2008: approx.  EUR 530 million
Profit (before taxes) 2010: approx.  EUR 770 million (currently over 
USD 1.1 billion) and moreover a premium volume in the amount of 
approx. EUR 10 billion (currently approx. USD 15 billion).
You will also find this press release on 
http://www.wienerstaedtische.at under Ad-hoc News
end of announcement                               euro adhoc 14.11.2007 07:29:00

Further inquiry note:

Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
A-1010 Wien, Schottenring 30
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

Plus de actualités: Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP
Plus de actualités: Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP