News Column

EANS-Adhoc: Vienna Insurance Group / PROFITS EARNED IN ALL SEGMENTS AND MARKETS IN THE 1ST QUARTER OF 2014

May 26, 2014



PR Newswire/euro adhoc/ EANS-Adhoc: Vienna Insurance Group / PROFITS EARNED IN ALL SEGMENTS AND MARKETS IN THE 1ST QUARTER OF 2014 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/1st Quarter 2014 26.05.2014 .) Solid premium growth to EUR 2.7 billion (+1.0%) - satisfying growth of +2.9% after adjusting for exchange rate effects - in spite of further portfolio adjustments .) Robust profit (before taxes) of EUR 152 million (-4.7%); +2.8% after adjusting for special effects - all segments and markets made positive contributions to profits .) Combined ratio - improved to an excellent 96.4% following 100.6% at the end of 2013 Consolidated premiums written by Vienna Insurance Group reached EUR 2.7 billion in the first quarter of 2014, representing a year-on-year increase of 1.0 percent. When adjusted for exchange rate effects, the increase rises further to 2.9 percent. Profit (before taxes) was EUR 152 million. Adjusted for exchange rate effects and the first interest payment on the subordinated debt issued in autumn 2013, profit (before taxes) rose by 2.8 percent. It is particularly satisfying to note that all Vienna Insurance Group segments and markets made positive contributions to profits. The combined ratio improved strongly to an excellent 96.4 percent. This was half a percentage point lower than the same period in the previous year. Compared to the end of 2013, the level improved significantly by 4.2 percentage points. The Group's financial result remained stable at around EUR 272 million. Vienna Insurance Group investments (including cash and cash equivalents) were just under EUR 30 billion (as of 31 March 2014). Further inquiry note: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe 1010 Wien, Schottenring 30 Nina Higatzberger Head of Investor Relations Tel.: +43 (0)50 390-21920 Fax: +43 (0)50 390 99-21920 E-Mail: nina.higatzberger@vig.com issuer: Vienna Insurance Group Schottenring 30 A-1010 Wien phone: +43(0)50 390-21919 FAX: +43(0)50 390 99-23303 mail: investor.relations@vig.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.




For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: PR Newswire TOD Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters