EANS-Adhoc: Vienna Insurance Group
Vienna Insurance Group continues the trend
set by outstanding 2008 annual result in the first quarter 2009
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 announcement.
Results 3M 2009
12.05.2009
- Profit (before taxes) of approximately EUR 121 million
- Important CEE markets record double digit premium growth on a local basis
OVERVIEW OF KEY GROUP DATA FOR THE 1st QUARTER OF 2009 (according to IFRS)*
In the first quarter of 2009, the Vienna Insurance Group achieved a total of premiums written (consolidated) of EUR 2.35 billion. Based on euros, this corresponds to an increase of 1.5 percent compared to the same period of the previous year.
The Group profit (before taxes, consolidated) amounted to about EUR 121 million in the first quarter. This implies virtually the repeat of the very good result in the first quarter 2008. Actually, after tax expenses and minority interests a profit growth of close to 4 percent was achieved.
The combined ratio of the Group after reinsurance (not considering investment income) was 96.4 percent for the first three months of the current year.
The financial results amounted to EUR 238.15 million for the first quarter of 2009. This increase of 35.6 percent is primarily the result of an increase in current income generated by the newly acquired companies of the s Versicherung Group.
As of 31 March 2009, the investments of the Group amounted to EUR 23.88 billion. Compared to the same period of the previous year the investments increased by 18.8 percent.
[* All statements for the first quarter of 2009 include figures from the s Versicherung Group and the BCR insurance companies. BA-CAV and Unita are only included in comparisons to the first quarter of 2008.]
end of announcement euro adhoc
Further inquiry note:
VIENNA INSURANCE GROUP (V.I.G.)
1010 Wien, Schottenring 30
Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: barbara.hagen@vig.com
Mag. Thomas Schmee
Investor Relations
Tel.: +43 (0)50 350-21900
Fax: +43 (0)50 350 99-21900
E-Mail: thomas.schmee@vig.com
Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: WBI, ATX Prime, ATX
Börsen: Prague Stock Exchange / stock market
Wien / official market