euro adhoc: Generali Holding Vienna AG
quarterly or semiannual financial
statement
Generali: Continued growth in the first quarter
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
23.05.2006
Generali: Continued growth in the first quarter Boom in life-insurance business sustained. Claims and benefits increased.
The Generali Vienna Group generated a clear growth in business in the first quarter of 2006. Premium income went up 12.4% to EUR 994.2 million. The gratifying increase is due mainly to the continuation of the boom in the life-insurance segment, which rose by 28.2% to EUR 361.6 million. Similarly, property/casualty insurance posted a marked increase of 5% over the previous year, in total EUR 632.6 million.
Claims and benefits of the Generali Vienna Group rose 4.8% to EUR 528.3 million in the first quarter of 2006. In the property/casualty insurance business, this was primarily due to the effects of the long winter season in particular in Austria, while in the life-insurance sector maturities of life insurance contracts in Central and Eastern Europe made themselves felt.
Premium income from primary insurance business generated by the subsidiaries in the seven countries in Central and Eastern Europe grew 15.5% in the first quarter, totalling EUR 251.5 million. With this, the Generali group companies in Central and Eastern Europe contributed 27.4% of the groups premium income, compared to 25.6% in the previous year. In Austria - still the most important market of the Generali Vienna Group - premium income from primary insurance business rose 5.1% to EUR 666.9 million.
Total costs of the group companies went up only slightly - 1.5% - to EUR 150.9 million over the same period of the previous year. In Austria, costs were lowered by 1.9%, in the markets of Central and Eastern Europe, however, they were considerably above previous years level, amounting to 12.4%. This increase results primarily from exchange rate fluctuations, but also from the growth of the Generali group companies.
Consolidated investments of the Generali Vienna Group as per March 31, 2006 totalled EUR 9.4 billion (+1.9%). Current income from investing activities rose 6.8% to EUR 104.0 million over the previous year.
end of announcement euro adhoc 23.05.2006 07:30:00
Further inquiry note:
Generali Holding Vienna AG
Josef Hlinka
Tel.: (++43-1) 534 01-1375
Fax: (++43-1) 534 01-1593
mailto:josef.hlinka@generali.at
http://www.generali-holding.at
Branche: Insurance
ISIN: AT0000661350
WKN: 873075
Index: WBI, ATX Prime
Börsen: Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Wiener Börse AG / official dealing