Based on preliminary data, VIENNA Insurance Group reported a total of written premiums, on an unconsolidated basis, of EUR 8.22 billion. This corresponds to an increase of 1.2 percent. In the non-life insurance segment, Group premiums of EUR 4.75 billion were achieved (minus 0.7 percent). With premiums amounting to EUR 3.48 billion, the Group records a plus of 3.9 percent in the life insurance segment.
"It is our clear objective to offer the customers and investors of VIENNA Insurance Group great stability beyond cyclical fluctuations. This is precisely what we have achieved with a projected profit before taxes of about EUR 440 million. In view of the fact that this even exceeds the result of 2007 - the record year before the economic slump -, this is a huge success", commented Gunter GEYER, CEO of VIENNA Insurance Group.
"Our markets in Central and Eastern Europe proved to be considerably more crisis-resistant than it had been predicted in many forecasts. Now it has become apparent that our decision to ensure a wide geographical distribution was absolutely right. The different economic dynamics in the various countries have a balancing effect on VIENNA Insurance Group. Excluding the currency relations in CEE, we even achieved a significant growth in these emerging markets", he also declared.
The Group profit (before taxes, consolidated) for the year 2009 will total approximately EUR 440 million (based on preliminary data). Hence, the Group's result will exceed that of the excellent year 2007.
Despite this favorable result for the year 2009, the Managing Board of VIENNA Insurance will renounce claims to bonuses, in view of the difficult economic situation.
The combined ratio of the Group (net, after reinsurance) for the year 2009 will amount to about 96 percent.
The dividend policy of the Group ensures that an attractive payout of at least 30 percent of the Group profit (after taxes and minority interests) will be provided.
