The 19th Annual General Meeting of Vienna Insurance Group decided to spin off the entire insurance division as a 100 percent subsidiary, which will be called the "VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe ", according to company's press release. As the largest individual company of the Group and leading insurance company in Austria, the Wiener Stadtische Versicherung AG VIENNA Insurance Group will conduct its operational insurance business. All preparations for the implementation of the resolutions have already been made by the management, guaranteeing a smooth transition.
The Annual General Meeting also approved the suggestion of management to pay out a dividend of EUR 0.90 per share for the previous financial year 2009. The dividend payment date and ex-day is 5 July 2010.
VIENNA Insurance Group achieved in 2009 profits (before tax) of over EUR 441 million and premiums of over EUR 8 billion.
