23.08.2016, 5148 Zeichen

Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Subtitle: "A+" rating with stable outlook confirmed again
Financial Figures/Balance Sheet/Half Year Results 2016
Premiums rise to EUR 4.9 billion\nProfit (before taxes) of EUR 201.3 million\nCombined ratio of 97.9 percent clearly below the 100 percent mark\nVienna Insurance Group's half year results for 2016 are right on target. VIG generated EUR 4.9 billion in Group premiums, representing a slight increase of 0.4 percent compared to the previous year. The restrictive underwriting policy used for single-premium life insurance in many markets continued to have an effect on total premium income. When adjusted for single premium business, total premiums even grew by 4.5 percent in the first six months of the current year.
Profit (before taxes) was EUR 201.3 million. "We announced a target of doubling the profit achieved last year to up to EUR 400 million and our half-year results show we are on course to achieve this goal, even though the low interest rate environment has not changed and continues to have a negative effect on our financial result,"said Elisabeth Stadler, CEO of Vienna Insurance Group. The financial result was EUR 449.5 million (-13.2 percent).
The Group's combined ratio of 97.9 percent after reinsurance (not including investment income) remained clearly below the 100 percent mark during the reporting period.
Group investments including cash and cash equivalents were EUR 32.3 billion (+3.2 percent) as of the 1sthalf of 2016.
The international rating agency Standard & Poor's once again confirmed Vienna Insurance Group's "A+" rating with a stable outlook in July 2016. VIG therefore continues to have the best rating of any company listed in the ATX Index. "Standard & Poor's based its "A+" rating primarily on our leading market position and high level of financial flexibility, which also gives us security during periods of unexpected market turbulence. Standard & Poor's believes we will be able to maintain our market leadership in Austria and Central and Eastern Europe. We are pleased that the stable outlook was also confirmed," concluded Elisabeth Stadler.
VIG current market news VIG's goal of achieving a market share of at least 10 percent in four markets over the medium term is also proceeding according to plan. Except for Poland where, among other things, the ongoing reduction in single-premium life insurance put downward pressure on premium volume, Hungary (premium increase of 15.4 percent), Croatia (+6.2 percent) and Serbia (+12.1 percent) showed clear gains. "In Croatia, significant gains were achieved, particularly from growth in the life insurance, bringing us close to our minimum target of a 10 percent market share. We recently signed a purchase agreement for the AXA companies in Serbia and will soon pass our target by reaching a market share of around 12 percent, once the acquisition has been approved by the authorities," said Elisabeth Stadler, confirming the strategy followed for these markets.
Vienna Insurance Group also recorded good results in the Romanian insurance market, which has been difficult for a number of years. The Group companies in Romania increased premiums by a remarkable 37.3 percent in the first half of
2016. This was primarily due to the motor insurance business, which is currently moving in a positive direction. In life insurance, VIG signed an agreement at the beginning of August to acquire the Romanian AXA Life company (subject to approval by the authorities), a further step that will expand its market leadership.

Change to measurement of the non-profit housing societies The half-year results for 2016 already include the adjustments and comparative values for 2015 based on the notice recently received from the Austrian Financial Market Authority (FMA).VIG has now regained a controlling influence over the non-profit housing societies. The future full consolidation of the shares held in this nine companies will not show an effect until the financial statements for the third quarter of 2016.
Solvency II ratio of 196 percent The change in measurement of the non-profit housing societies has no effect on the calculation of the Solvency II ratio. This calculation is performed based on the partial internal model that was approved by the FMA, which only includes the future payouts made by the non-profit companies. The Solvency II ratio at the level of the listed VIG Group was 196 percent at the end of 2015. VIG therefore continues to be among the leading international insurance groups with regard to solvency.


end of announcement euro adhoc

company: Vienna Insurance Group Wiener Versicherung Gruppe


             Schottenring 30
             A-1010 Wien
phone:       +43(0)50 390-21919
FAX:         +43(0)50 390 99-23303
mail:        investor.relations@vig.com
WWW:         www.vig.com
sector:      Insurance
ISIN:        AT0000908504
indexes:     WBI, ATX Prime, ATX




stockmarkets: official market: Wien, stock market: Prague Stock Exchange
language: English


Digital press kit: http://www.ots.at/pressemappe/7674/aom



  
  



 BSN Podcasts


      Christian Drastil: Wiener Börse Plausch
      
         



        
Börsenradio Live-Blick, Mo. 12.8.24: DAX fester in KW33, wichtige Chartmarke, Hannover Re nach Zahlen top, Baader mag SAP
        
      








        


        VIG




Akt. Indikation:      29.75 /     29.90

Uhrzeit:  12:30:00

Veränderung zu letztem SK:       1.45%

Letzter SK:     29.40 (   0.17%)







 

 
 BSNgine
 
      

        
          
          
               
          
          Top/Flop Diashows
        
      
      

        
          
          
               
          
          Star/Rutsch der Stunde
        
      
      

        
          
          
               
          
          Matrix
          


        
      
      

        
          
          
               
          
          Moving Averages
          


        
      
      

        
          
          
               
          
          Märkte/ Indikationen
        
      

      


      

        
          
          
               
          
          Tagessieger/ verlierer
        
      
      

        
          
          
               
          
          „n“ Tage Top/Flop
        
      
      

        
          
          
               
          
          Umsatz
        
      
      

        
          
          
               
          
          BS-Hitparade
        
      
      

        
          
          
               
          
          Reporting Days
        
      

  
  

  



    

        
Bildnachweis
        

          
          1.
          Erste Campus Wiener Städtische VIG
          , (© photaq.com)   >> Öffnen auf photaq.com
          
          


        
  

    
Aktien auf dem Radar:Immofinanz, CA Immo, DO&CO, Warimpex, Flughafen Wien, Marinomed Biotech, VIG, Porr, EVN, RBI, Uniqa, Telekom Austria, AT&S, Rosenbauer, ams-Osram, FACC, Stadlauer Malzfabrik AG, Wolford, Zumtobel, Oberbank AG Stamm, BKS Bank Stamm, Kapsch TrafficCom, Agrana, Amag, Erste Group, Österreichische Post, Polytec Group, S Immo, Wienerberger, Rheinmetall, SAP.
    
 



  

  
Random Partner


    

        
            
                
            
        
    
    

        

            Hypo Oberösterreich

            Sicherheit, Nachhaltigkeit und Kundenorientierung sind im Bankgeschäft Grundvoraussetzungen für den geschäftlichen Erfolg. Die HYPO Oberösterreich ist sicherer Partner für mehr als 100.000 Kunden und Kundinnen. Die Bank steht zu 50,57 Prozent im Eigentum des Landes Oberösterreich. 48,59 Prozent der Aktien hält die HYPO Holding GmbH. An der HYPO Holding GmbH sind die Raiffeisenlandesbank Oberösterreich AG, die Oberösterreichische Versicherung AG sowie die Generali AG beteiligt.
        
    
    
>> Besuchen Sie 68 weitere Partner auf boerse-social.com/partner


 


      

            

                Mehr aktuelle OTS-Meldungen HIER
            
  


      

          
Useletter
          

          Die Useletter "Morning Xpresso" und "Evening Xtrakt" heben sich deutlich von den gängigen Newslettern ab.
          Beispiele ansehen bzw. kostenfrei anmelden. Wichtige Börse-Infos garantiert.

Newsletter abonnieren
          
          
Runplugged
          

            Infos über neue Financial Literacy Audio Files für die Runplugged App
            
(kostenfrei downloaden über http://runplugged.com/spreadit)
            

per Newsletter erhalten