Vienna Insurance Group iN THE 1st Quarter of 2013
Best 1st quarter in the corporate history
In the 1st quarter of 2013 Vienna Insurance Group earned consolidated premiums written of EUR 2.7 billion. This 1.5-percent decrease is mainly due to the fact that the short-term single premium business in Poland has been downsized according to plan. Excluding special effects and adjusted for currency fluctuations, Vienna Insurance Group achieved a growth of about 1.4 percent.
Premiums in the property/casualty insurance segment amounted EUR 1.5 billion. The Group reported premiums of EUR 1.1 billion in life insurance with regular premiums growing by 2.7 percent. Premiums in the health insurance segment went up by 2.9 percent, totalling EUR 100.7 million.
The Group profit (before taxes) increased by 5.2 percent to EUR 159.4 million. The share of the CEE countries in the Group profit (before taxes) rose by 15.6 percent to a total of 51.5 percent.
The combined ratio of the Group (after reinsurance and excluding investment gains) stood at 96.9 percent.
The financial result of the Group totalled EUR 270.2 million in the 1st quarter of 2013. As of 31 March 2013 the investments of the Group - including cash and cash equivalents - amounted to EUR 29.6 billion.
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