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Vienna Insurance Group

EANS-Adhoc: Vienna Insurance Group
Excellent result of Vienna Insurance Group in 2010[1]:

  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.
Preliminary Premiums 2010
25.01.2011
Increase of premiums written by 6.1 percent to EUR 8.7 billion
Significant plus of Group profit for the year (before taxes) by 
almost 15 percent to about EUR 505 million
Planned increase of dividend to EUR 1 per share[2]
Excellent capitalisation of the Group
I. OVERVIEW OF KEY DATA FOR THE YEAR 2010
Based on preliminary data, Vienna Insurance Group reported 
unconsolidated premiums written of EUR 8.7 billion in the financial 
year 2010, corresponding to an increase of 6.1 percent. In the 
non-life insurance segment Vienna Insurance Group achieved premiums 
written of EUR 4.8 billion, i.e. a plus of 2.0 percent. After a 
strong increase of 11.7 percent, the Group´s premiums in the life 
insurance segment total EUR 3.9 billion.
According to preliminary figures, the Group profit (before taxes, 
consolidated) predicted for 2010 will amount to about EUR 505 
million. This corresponds to an increase by almost 15 percent.
The management of Vienna Insurance Group assumes that the Group´s 
combined ratio (net, after reinsurance) will amount to about 98 
percent in 2010 - despite the heavy burden caused by natural 
disasters.
II. DIVIDEND
The Managing Board plans to propose to the corporate bodies an 
increase of the dividend from EUR 0.90 to EUR 1.0 per share for the 
financial year 2010. This reflects the steady increase in the Group´s
earnings and complies with its long-term dividend policy of 
distributing at least 30 percent of the Group profit (after taxes and
minority interests).
III. Outlook for the financial year 2011
According to the latest revision of economic forecasts, Austria´s 
economic development will be slightly better than predicted only 
recently. These forecasts assume in particular that the economy in 
the Eastern European markets will gain momentum, with growth rates 
ranging between 2 and 4 percent. Therefore the economic dynamism in 
this region is expected to distinguish itself positively from the 
development in the EU-15 countries. It is indispensable to take into 
account budget consolidation measures, which are showing effects in 
some countries only now - in the wake of the economic crisis.
Against this background, the management expects a low percentage 
increase in premiums for the year 2011. Nevertheless, the company 
aims at increasing the profit before taxes by about ten percent. The 
prerequisite is, however, that the economic and legal framework will 
not deteriorate significantly and that there will be no drastic trend
in damage caused by natural disasters.
[1] The figures are based on preliminary data, are unconsolidated and
have not been audited. All data are stated in Euro. [2] Subject to 
the approval of the corporate bodies
end of announcement                               euro adhoc

Further inquiry note:

VIENNA INSURANCE GROUP AG
Wiener Versicherung Gruppe
1010 Wien, Schottenring 30

Alexander Jedlicka
Public Relations, Spokesperson
Tel.: +43 (0)50 350 21029
Fax: +43 (0)50 350 99 21029
E-Mail: alexander.jedlicka@vig.com

Thomas Schmee
Head of 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

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Plus de actualités: Vienna Insurance Group