Vienna Insurance Group podigla ugrađenu vrijednost (Embedded value)

Vienna Insurance Group raises Group Embedded Value to more than EUR 4.5 billion

The group embedded value (after taxes) for the Vienna Insurance Group was EUR 4.551 billion as of 31 December 2007. Thus a remarkable return on embedded value in the amount of 12.9 percent was achieved, after taking into account dividend payments to shareholders and capital transfers.

The Vienna Insurance Group has the goal to continually include additional group companies into its group embedded value reporting. Therefore, Compensa Life and Compensa Non-Life in Poland have been included in the year 2007.

58 percent of the total group embedded value of Vienna Insurance Group EUR 4.551 billion is attributable to the Austrian and German insurance business. For 2007, the share contributed by the companies in CEE (Kooperativa in the Czech Republic, Kooperativa in Slovakia, Union Biztosító in Hungary and Compensa Life and Compensa Non-Life in Poland) already accounts for 42 percent – compared to 30 percent in the year 2006.

The value of the new business written in the amount of EUR 108.1 million rose by outstanding 32.5 percent compared to the previous year. This value underlines the earnings power of the life and health insurance lines – especially in CEE.

The embedded value represents the value of in-force insurance business and in accordance with international guidelines is made up of the net assets for life, health and P & C insurance as well as the current value of the combined future earnings from in-force business in the life and health lines.

B & W Deloitte GmbH, Köln have reviewed and fully confirmed the group embedded value of the Vienna Insurance Group.

The Vienna Insurance Group is a leading insurance group in CEE headquartered in Vienna. Outside of its home base in Austria, Vienna Insurance Group is also active, through subsidiaries and insurance holdings, in Albania, Bulgaria, Germany, Estonia, Georgia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, Hungary, Ukraine and Belarus. It also has branches in Italy and Slovenia.

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.

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

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