Vienna Insurance Group AG Wiener Versicherung Gruppe
EANS-Adhoc: Full year results 2020 of VIG Group expected to be burdened due to COVID-19 pandemic
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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22.04.2020
- - Against the backdrop of the ongoing COVID-19 crisis and the associated
increased insecurities on capital markets and on the operative business
development, VIG Group expects dampening effects on its full year results 2020.
The COVID-19 pandemic did not yet substantially burden the results of the first
quarter. In contrast, the first three months of 2020 indicate a positive premium
and stable results development compared to the same period in the previous year.
Given the substantial uncertainties on the operative insurance business as well
as on capital markets, the expected impacts of the COVID-19 crisis for the full
year cannot be assessed at the moment. In particular, new business is assumed to
decline. At the same time, negative impacts from impairments, especially on the
financial result in subsequent quarters, cannot be excluded. Accordingly, VIG
Group closely monitors the economic environment and capital markets in order to
be able to assess effects on its assets in a timely manner.
The solvency ratio of the Group as of 31 March 2020 based on first estimates and
considering the substantial volatilities in interests and spreads is on a solid
level at the lower end of the defined comfort zone of 170% to 230%.
The Annual General Meeting scheduled for 15 May 2020 has been postponed.
According to preliminary planning, the results for the first quarter will be
published on 20 May 2020.
The following securities of VIG are admitted for trading on a regulated market:
ISSUE TITEL ISIN TRADING SEGMENT
Share AT0000908504 Vienna and Prague Stock Exchange, Official
Market
VIG subordinated bond 15 AT0000A1D5E1 Luxembourg Stock Exchange, Second
Regulated Market
VIG subordinated bond 13 AT0000A12GN0 Vienna Stock Exchange, Second Regulated
Market
Further inquiry note:
VIENNA INSURANCE GROUP AG
Wiener Versicherung Gruppe
1010 Vienna, Schottenring 30
Wolfgang Haas
Head of Group Communications & Marketing, Spokesperson of the Group
Phone: +43(0)50 390-21029
Fax: +43 (0)50 390 99-21029
E-Mail: wolfgang.haas@vig.com
Nina Higatzberger-Schwarz
Head of Investor Relations
Phone: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920
E-Mail: nina.higatzberger@vig.com
end of announcement euro adhoc
--------------------------------------------------------------------------------issuer: Vienna Insurance Group AG Wiener Versicherung Gruppe
Schottenring 30
A-1010 Wien
phone: +43(0)50 390-22000
FAX: +43(0)50 390 99-22000
mail: investor.relations@vig.com
WWW: www.vig.com
ISIN: AT0000908504
indexes: WBI, ATX, VÖNIX
stockmarkets: Prague Stock Exchange, Wien
language: English