Vienna Insurance Group - DJ EANS-Adhoc: Record result of Vienna Insurance Group in 2012

VIENNA INSURANCE GROUP

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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. 
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Financial Figures/Balance Sheet 
03.04.2013 
 
 
- Highest profit in the corporate history 
 
- Profit before taxes increased by 5.1 percent to EUR 587.4 million 
 
- Profit (after taxes and minorities) grew by 9.7 percent to EUR 446.2 million 
 
- Increase in premiums to EUR 9.7 billion (+ 9.0 percent) 
 
- Market share in core markets strengthened to more than 19 percent 
 
- Standard & Poor's confirms excellent "A+" with stable outlook 
 
- Proposed increase in dividend to EUR 1.20 per share * 
 
EXCELLENT GROUP RESULT 
 
In the financial year 2012 Vienna Insurance Group reported consolidated premiums 
written of EUR 9.7 billion; this corresponds to an increase of 9.0 percent. The 
significant growth of 17.2 percent in life insurance was driven by the strong 
demand - particularly for single-premium products - in Poland. The 2.1-percent 
increase in property/casualty insurance as well as the growth in health 
insurance premiums (8.7 percent) supported the overall positive trend of Group 
premiums. 
 
Amounting to EUR 587.4 million, the Group profit (before taxes) rose by 5.1 
percent. Profit after taxes and minorities even grew by 9.7 percent to a total 
of EUR 446.2 million. 
 
Despite the substantial burden caused by storm damages, the Group reported an 
excellent combined ratio (after reinsurance and excluding investment gains) of 
96.65 percent for the year 2012. 
 
The financial result of the Group totalled EUR 1.2 billion, increasing by 33.2 
percent. The investments of the Group (including cash and cash equivalents) rose 
by 5.5 percent to EUR 30.2 billion as of 31 December 2012. 
 
Based on these convincing data for the financial year 2012, an increase of the 
dividend to EUR 1.20 per share will be proposed to the Annual General Meeting of 
Vienna Insurance Group.* 
 
GROUP EMBEDDED VALUE - CONTINUED TO INCREASE 
 
Calculated on the basis of international standards, the embedded value is the 
net asset value of Vienna Insurance Group plus the present value of potential 
future profits from existing life and health insurance contracts. It was 
confirmed by B&W Deloitte GmbH, Cologne. 
 
The long-term viability of the insurance business of Vienna Insurance Group has 
been evidenced by the fact that the Group embedded value (after taxes) increased 
by 14.4 percent to EUR 5.9 billion (adjusted value for 2011: EUR 5.1 billion) as 
at 31 December 2012. With 5.8 percent, the CEE new business margin reached once 
more an excellent value by international comparison. 
 
* subject to the approval of the corporate bodies 
 
 
 
end of announcement                               euro adhoc 
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(END) Dow Jones Newswires

April 03, 2013 01:59 ET (05:59 GMT)




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