Saturday , June 25 2022

VIG report improvement in key figures



[ad_1]

11.29.2018 – In the first nine & # 39; months, the Group & # 39; Insurance & # 39; Vienna was able to increase the premiums, the combined ratio and net income. In Austria, premiums decreased slightly due to the decline in single premiums in life insurance. The premium volume is expected to rise & # 39; 9.5 billion euros for the whole year and profit before tax is expected to be between 450 and 470 million euros.

Report & # 39; a quarter of VIG for Q3 / 2018 (Cover: VIG)
VIG report on the first three
Quarters in 2018 (Cover: VIG)

In the first nine & # 39; months of 2018, Vienna Insurance Group AG increased its volume & # 39; premiums written by 2.9 percent to 7.36 billion euros compared to the same period of the previous year.

With the exception of single premiums in life insurance, all divisions contributed to this. Single premiums decreased by & # 39; 16.7% to 679 million euros.

After the markets, the Czech Republic, Hungary and the Baltic States contributed to growth & # 39; premium.

"Only" in Romania, the business development of motor insurance "little pleasure", wrote the Director General Elisabeth Stadler in the preamble to the interim report presented on Wednesday. Thus formed additional provisions in the third quarter.

higher profit

Except for reinsurance claims costs increased by & # 39; disproportionate when compared to & # 39; the same period a year & # 39; before. They increased by & # 39; 0.5 per cent to 5195.6 million.

The financial result improved by & # 39; 8.7% to 795.9 million euros. This is mainly attributable to proceeds from the sale of the investment in & # 39; S IMMO AG and from the real estate sector, according to VIG.

The combined ratio after reinsurance improved from 97.3 to 96.3 percent. In addition to higher financial result, this led to an increase in the consolidated result.

Austria

The Austrian Group companies suffered a slight decline in premiums in the first three quarters (b & # 39; 0.4 per cent to 2996.4 million).

This is due to lower single premiums in life insurance. Adjusted for this, there would be an increase in premiums & # 39; 1.9 percent.

Positive Development & # 39; claims insurance against fire and natural claims and in the motor vehicle divisions led to an improvement in the combined ratio from 97.0 percent in the same period last year of & # 39; prior to now 94.9 percent.

As a result, earnings before taxes rose from € 105.7 million to € 130.2 million.

outlook

The unions & # 39; life insurance companies that specialize in selling bank in 2017 and local policies of life insurance all in the ten countries where VIG and Erste Group working together are scheduled to be completed by early 2019.

It is planned to reduce b & # 39; sustainable manner combined ratio to 95 percent by & # 39; efficiency gains and exploiting the potential of & # 39; synergy. The life insurance continue to focus its business on a recurring premiums and the coverage of biometric risks, according to the VIG in the & # 39; quarterly report.

The Group is still on track to reach its objectives in the growth of premiums and profit before tax for the full year, said the General Manager Elisabeth Stadler. Premiums in the amount of & # 39; 9.5 billion (2017: 9.386 billion euro) and earnings before taxes between 450 and 470 million euros (2017: 442.5 million) are expected.

By 2020, the premiums should be increased to more than 10 billion euros and the result & # 39; before tax amounted to 500 to 520 million euros.

Selected key figures

measure

Q1-3 / 2018

Q1-3 / 2017

premiums calculated

– of which the Austria

7357.5

2996.4

7152.6

3009.6

Result & # 39; subscribe

345.2

219.7

combined ratio

96.3%

97.3%

investments

36530.2

35932.9

financial results

795.9

732.1

Earnings before taxes

352.3

331.2

equity

5813.0

5881.9

Profit after tax

275.5

266.2

total assets

51555.8

51714.0

to download

The report first to the third quarter of 2018 can & # 39; downloaded as a PDF document (1.6 MB) from the website of VIG.

[ad_2]
Source link