Standard & Poor's dodijelio rating "A+" Vienna Insurance Group

Wiener Städtische Versicherung AG Vienna Insurance Group:

Very good Standard & Poor’s Rating

Outlook increased to "positive" – confirmation of "A+" rating

The globally renowned rating agency Standard & Poor´s (S&P) has awarded a very good rating designation to the exchange-listed WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group. The existing "A+" rating was confirmed and the outlook improved from "stable" to "positive".

As a result the Vienna Insurance Group is the only Austrian insurance group with an "A+" rating with positive outlook.

The rating recognises the Vienna Insurance Group’s repeated strong business results, which continuously exceed targets, as well as the growing contribution of the CEE operations towards Group profits over the last years. Also positively assessed was the outstanding Combined Ratio of 95.5 percent in the non-life area, which was achieved despite the claims resulting from natural disasters in the year 2007.

Furthermore, the diversification of operating segments and distribution capability of the Vienna Insurance Group in CEE and Austria has also been further strengthened. Standard & Poor’s expects the Vienna Insurance Group to maintain its strong capital resources and to continue the strong profitability growth of the recent years into the future.

The planned transaction and long-term marketing agreement with Erste Bank in CEE was also viewed as an additional integral factor for the improved outlook. The planned purchase of s Versicherung and associated CEE companies fits very well with the strategy of the Group to increasingly grow in the life insurance business. In addition, the distribution agreement concluded with Erste Bank will also contribute to the strengthening of future business development.

Standard & Poor’s also expresses an expectation that over the next years the Vienna Insurance Group will surpass its competitors with regards to growth and premium volume, since it has placed its focus on the strong-growth markets in CEE. The contribution to Group results by Group companies located outside of Austria is very likely going to reach the 50 percent mark by 2011.

In the Austrian market, the group is represented through Wiener Städtische Versicherung AG Vienna Insurance Group, Donau Versicherung and Bank Austria Creditanstalt Versicherung. Furthermore, it has minority holdings in Wüstenrot Versicherung and Sparkassen Versicherung.

For further information contact:
WIENER STÄDTISCHE Versicherung AG VIENNA INSURANCE GROUP
Barbara Hagen-Grötschnig Corporate Communications Schottenring 30, 1010 Vienna, Austria Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027 e-mail: b.hagen@staedtische.co.at

This press release can also be found at http://www.viennainsurancegroup.com.

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