23.11.2015,
3442 Zeichen
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
announcement.
Financial Figures/Balance Sheet/Q1-Q3 2015
23.11.2015
Premiums (excluding single-premium products) show solid increase of 2.5%\nExcellent combined ratio of 96.9%\nOperating profit of EUR 370.3 million\nProfit (before taxes) after impairment at EUR 175.3 million\n Vienna Insurance Group continues to focus on developing profitable lines of
business. These mainly include property and casualty (+0.9 percent) and
regular-premium life insurance products, which recorded significant growth of
5.8 percent. The Group continues to exercise restraint in the single-premium
business due to the current interest rate environment. This led to a total
decline of 5.2 percent in life insurance. In the first nine months, Vienna
Insurance Group generated total premiums of EUR 6.9 billion (-1.8 percent).
Without single-premium products, this represents a solid increase of 2.5
percent.
Once again, all Vienna Insurance Group markets made positive contributions
to the result. The Vienna Insurance Group Remaining Markets region earned a
record result of EUR 48.6 million, an increase of 10.5 percent.
Vienna Insurance Group further reduced its combined ratio (after
reinsurance) to excellent 96.9 percent.
Vienna Insurance Group held EUR 31.6 billion in investments (including cash
and cash equivalents) as at 30 September 2015. The Group financial result was
EUR 797.3 million (-7.1 percent).
Operating profit was EUR 370.3 million. The decline in the ordinary
financial result due to the ongoing low level of interest rates, which also
made it necessary to form a precaution for personnel provisions in Austria, as
well as the interest expense for the subordinated bond issued in March 2015
affected the result.
Impairment of IT systems of EUR 195 million
Vienna Insurance Group continuously checks its existing IT systems'
landscape in the course of the regular evaluation of technical usability and in
view of the rapidly changing requirements of the insurance market as well as
the accelerating rate of technological change. This review was done with
external assistance.
The analysis now showed that there is a high probability that certain IT
systems respectively programme sections will no longer be able to satisfy
future technical and business requirements, or no longer fully satisfy these
requirements. The balance sheet items covering these programmes or programme
sections are therefore being written down by EUR 195 million.
This means that the profit (before taxes) after impairment is EUR 175.3
million.
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The complete release including tables is available under the following link:
http://resources.euroadhoc.com/us/bBELChiQ
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end of announcement euro adhoc
Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/bBELChiQ
http://resources.euroadhoc.com/us/pFWhERgn
issuer: Vienna Insurance Group
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
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VIG
Akt. Indikation: 29.45 / 29.60
Uhrzeit: 19:04:26
Veränderung zu letztem SK: 0.25%
Letzter SK: 29.45 ( 0.34%)
Bildnachweis
1.
VIG 1. Halbjahr 2015, Seite 3/6, komplettes Dokument unter http://boerse-social.com/static/uploads/file_308_vig_1_halbjahr_2015.pdf
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