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Abonner Vienna Insurance Group

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) ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
27.03.2008
Please note: this is a translation; only the German version of this 
release is legally binding.
I. OVERVIEW OF KEY GROUP DATA FOR THE FINANCIAL YEAR 2007*
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.
II. NEW CHALLENGING TARGETS FOR 2011
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.
end of announcement                               euro adhoc

Contact:

WIENER STÄDTISCHE Versicherung AG
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
E-Mail: b.hagen@staedtische.co.at

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

Plus de actualités: Vienna Insurance Group
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