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04.04.2006 – 08:17

Wiener Städtische Allgemeine Versichererungs AG

euro adhoc: Wiener Städtische Allg. Vers. AG
Financial Figures/Balance Sheet / Vienna Insurance Group (Wiener Städtische Group) IFRS Figures for 2005 (according to Preliminary Information)*

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
04.04.2006
Please note: this is a translation; only the German version of this
news release is legally binding.
- EUR 5 billion premium mark surpassed - Group profit before tax hits
historic record value, due to increase by approx. EUR 84 million to
approx. EUR 240 million  - Excellent group combined ratio of slightly
above 94 percent - Strong dividend increase by 21 Cent to 66 Cent -
CEE share in group premiums in property/casualty insurance approx. 45
percent / CEE share in aggregate group profit approx. 37 percent /
Much earlier than planned a profit before tax was generated in all
CEE countries - Substantial premium expansion in life insurance of
approx. 31 percent
OVERVIEW OF KEY GROUP DATA IN THE YEAR 2005 (ACCORDING TO PRELIMINARY
DATA*:
In the year 2005, consolidated premiums written of the Vienna
Insurance Group(excluding other insurance participations) rose by
22.1 percent to EUR 5.01 billion.  The Vienna Insurance Group
(including other insurance participations) in the aggregate posted a
strong increase of 21.2 percent to EUR 5.36 billion in
non-consolidated premiums written. The Group's profit before tax rose
by EUR 84.43 million to EUR 240.34 million (plus 54.2 percent) in the
year 2005. With this result, the Group surpasses the most recent
profit forecast of about EUR 230 million. Essential factors for the
excellent profit before tax were good results from investments,
cost-conscious administration and good loss ratios based on tariffs
adequate to the risk. The profit after tax rose by a considerable
63.5 percent to EUR 198.74 million. It will be suggested to the
Annual General Meeting to increase the dividend by 21 cent to 66 cent
per share - thus the increase will be 10 percent higher than most
recently planned. The combined ratio of the Vienna Insurance Group
after reinsurance (not including investment income) was reduced to
the excellent value of 94.3 percent. This places the Vienna Insurance
Group in the leading group internationally. The decisive factors for
this improvement were selective risk underwriting as well as very
active claims management. The net investment income posted an
increase of 33.0 percent to EUR 593.86 million as compared to 2004.
The result was influenced by the favorable conditions prevailing on
the capital markets.  The gross expenses for claims incurred amounted
to EUR 3.99 billion (plus 24.9 percent) and are especially influenced
by the increase in the actuarial reserve in life insurance. This is
above all due to the marked increase in the single-premium policy
business and the fact that the Vienna Insurance Group has already
fully taken into account the application of the new Austrian
mortality tables. Gross expenses for insurance operations increased
by 15.1 percent to EUR 1.07 billion and with this increase remained
far below the growth achieved in terms of premiums. The total
investment of the Group rose by 25.5 percent to EUR 16.92 billion (as
of December 31, 2005).
In 2006 altogether Vienna Insurance Group expect a two-digit growth
in premiums. For the current year Vienna Insurance Group is aiming at
a Group profit before tax of between EUR 270 and 290 million.
*These figures are subject to an audit to be performed by the
auditors and approval by the supervisory board of Wiener Städtische.
Companies that have been acquired only recently are not included in
the premiums of the Vienna Insurance Group (Wiener Städtische Group).
Wiener Städtische Allgemeine Versicherung AG
A-1010 Vienna, Schottenring 30
ISIN: AT0000908504
end of announcement                               euro adhoc 04.04.2006 07:39:30

Further inquiry note:

Mag. Barbara Hagen-Grötschnig
Wiener Städtische Unternehmenskommunikation
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: ATX Prime, ATX, WBI
Börsen: Wiener Börse AG / official market

Original content of: Wiener Städtische Allgemeine Versichererungs AG, transmitted by news aktuell

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