Record result of Vienna Insurance Group in 2012
- Highest profit in the corporate history
- Profit before taxes increased by 5.1 percent to EUR 587.4 million
- Profit (after taxes and minorities) grew by 9.7 percent to
- EUR 446.2 million
- Increase in premiums to EUR 9.7 billion (+ 9.0 percent)
- Market share in core markets strengthened to more than
- 19 percent
- Standard & Poor's confirms excellent "A+" with stable outlook
- Proposed increase in dividend to EUR 1.20 per share *
"As the leading insurance group in Austria and CEE, we achieved our strategic goal of growing above the market average impressively also in the year 2012. Premiums climbed to a record value of EUR 9.7 billion. Moreover, we even succeeded in increasing the result for the year by almost 10 percent. The group profit of EUR 587.4 million is the highest in the corporate history of Vienna Insurance Group", emphasised Peter Hagen, Chairman of the Managing Board and CEO of Vienna Insurance Group. "This trend sustained over a long period has been reflected very clearly in the confirmation of the 'A+' rating with a stable outlook by Standard & Poor's."
Excellent Group result
In the financial year 2012 Vienna Insurance Group reported consolidated premiums written of EUR 9.7 billion; this corresponds to an increase of 9.0 percent. The significant growth of 17.2 percent in life insurance was driven by the strong demand - particularly for single-premium products - in Poland. The 2.1-percent increase in property/casualty insurance as well as the growth in health insurance premiums (8.7 percent) supported the overall positive trend of Group premiums.
Amounting to EUR 587.4 million, the Group profit (before taxes) rose by 5.1 percent. Profit after taxes and minorities even grew by 9.7 percent to a total of EUR 446.2 million.
Despite the substantial burden caused by storm damages, the Group reported an excellent combined ratio (after reinsurance and excluding investment gains) of 96.65 percent for the year 2012.
The financial result of the Group totalled EUR 1.2 billion, increasing by 33.2 percent. The investments of the Group (including cash and cash equivalents) rose by 5.5 percent to EUR 30.2 billion as of 31 December 2012.
Based on these convincing data for the financial year 2012, an increase of the dividend to EUR 1.20 per share will be proposed to the Annual General Meeting of Vienna Insurance Group.*
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Press Release (ENG)
RM-SYSTÉM, česká burza cenných papírů a.s.
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