EANS-Adhoc: Record result of Vienna Insurance Group in 2012
PR Newswire/euro adhoc/ EANS-Adhoc: Record result of Vienna Insurance Group in 2012 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.
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
Further inquiry note: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe 1010 Wien, Schottenring 30
Alexander Jedlicka Head of Public Relations, Spokesperson Tel.: +43 (0)50 390-21029 Fax: +43 (0)50 390 99-21029 E-Mail: email@example.com
Nina Higatzberger Head of Investor Relations Tel.: +43 (0)50 390-21920 Fax: +43 (0)50 390 99-21920 E-Mail: firstname.lastname@example.org
issuer: Vienna Insurance Group
A-1011 Wien phone: +43(0)50 390-21919 FAX: +43(0)50 390 99-23303 mail: email@example.com WWW: www.vig.com sector: Insurance ISIN: AT0000908504 indexes: WBI, ATX Prime, ATX stockmarkets: official market: Wien, stock market: Prague Stock Exchange language: English
The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.
-0- Apr/03/2013 06:01 GMT