Vienna Insurance Group

EANS-Adhoc: Vienna Insurance Group

  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
Financial Figures/Balance Sheet/Half Year Results

- Profit increased by 41.4% to EUR 290.9 million - strong profit contribution
  from the CEE region

- Premiums stable at around EUR 5.0 billion - 1.0% increase, adjusted for 
  exchange rate effects

- Combined ratio reduced to 97.1% - following 99.8% in 1st half of 2013

- Administrative expenses reduced a further 4.2% - significant reduction of
  around 20% since 2008

- Outstanding Standard & Poor's rating of "A+" with stable outlook confirmed

Vienna Insurance Group had an excellent performance in terms of profit (before
taxes) in the first half-year 2014, which rose strongly by 41.4 percent to EUR
290.9 million. Around 55 percent of these profits were in the CEE region, where
also the Romanian Group companies further improved their performance.

Despite the clear earnings-oriented underwriting policy, Vienna Insurance Group
generated stable premiums in a difficult economic environment of around EUR 5.0
billion. The Group even achieved a solid increase of 1.0 percent after adjusting
for foreign exchange effects.

The combined ratio fell by 2.7 percentage points to a very good 97.1 percent.
Vienna Insurance Group made the significant improvement despite the ongoing
conservative reserving policy for the Italian business of Donau Versicherung and
severe weather claims, particularly in Austria, Serbia and Bosnia-Herzegovina.

The Group's financial result was EUR 551.6 million. Vienna Insurance Group
investments (including cash and cash equivalents) were around EUR 30.5 billion
(as of 30 June 2014).

Efficient cost management helped reduce Group administrative expenses by another
4.2 percent in the first half-year 2014. 

Vienna Insurance Group is working to increase efficiency throughout the Group.
Ongoing actions have reduced administrative expenses by around one fifth since
2008. Net earned premiums rose around 25 percent in the same period.

The international rating agency Standard & Poor's confirmed the outstanding "A+"
rating with stable outlook making Vienna Insurance Group the best-rated company
in the ATX. The Group's excellent capital resources exceed S&P's defined
standard for AAA, once again proving VIG's financial stability.

Further inquiry note:
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 

Nina Higatzberger
Head of Investor Relations
Tel.: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920

end of announcement                               euro adhoc 

issuer:      Vienna Insurance Group
             Schottenring 30
             A-1010 Wien
phone:       +43(0)50 390-21919
FAX:         +43(0)50 390 99-23303
sector:      Insurance
ISIN:        AT0000908504
indexes:     WBI, ATX Prime, ATX
stockmarkets: official market: Wien, stock market: Prague Stock Exchange 
language:   English

Original-Content von: Vienna Insurance Group, übermittelt durch news aktuell

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