- Gross premium of the Group: EUR 4.6 billion.
- Profit (before taxes): EUR 255.6 million.
Due to the positive economic dynamics the Management Board of Vienna Insurance Group decided to make Ukraine the 10thstrategic for VIG market and will try to improve its strong positions in Ukraine in the capacity of one of leading Insurers.
“We are always looking for new business opportunities. To this end, we examine our portfolio on an ongoing basis and adjust it to the needs and to demand. In Ukraine, the economic setting has improved considerably, and by making this country one of our core markets, our Group aims at achieving a leading position also in this insurance market”, Gunter Geyer explained the reasons for intensifying engagement in Ukraine.
Key VIG data in 1st half-year 2010:
In 1st half-year 2010 Vienna Insurance Group achieved premiums written of EUR 4.6 billion that corresponds to the increase of 7.9 percent compared to the same period previous year. VIG net written premiums increased by 10.7 percent.
VIG profit (before taxes) for the first half-year of 2010 amounted to EUR 255.6 million, corresponding to the total growth of 11 per cent.
The combined ratio of VIG in first half of 2010 has increased to 98.3 percent (in 2009 it amounted to 96.3 per cent).
The financial results of the Group in the 1st half-year of 2010 totaled EUR 646.6 million, that is plus 37.1 percent compared to similar period previous year.
As of June 30, 2010 the investments of VIG amounted to EUR 26.8 billion, that corresponds to the growth of 3.6 percent compared to year0end level of 2009.
«The positive results of Vienna Insurance Group for 1st quarter 2010 and stable increase of insurance premiums received by VIG are the sure confirmation of the high level of confidence of the European citizens in the reliability and guarantees of the brand of Vienna Insurance Group. These indicators are simultaneously the safe guarantee for the Clients of the Group in Ukraine, where the brand of VIG is worthily the factor of Insurant’s confidence in insurance protection and insurance guarantees provided by insurance companies-Members of VIG», - commented the Chairman of the Board of IC Globus VIG Mr. Volodymyr Hanchak.
Key data of IC Globus VIG for 1st half-year 2010:
- Insurance premium growth by 17.0 %
- Claims growth by 8.7 %
Insurance premiums volume: UAH 31.7 million, that is by 17.0 % higher as compared to the similar period last year.
Number of insurance agreements: 155 752 pieces, that is by 15.8% higher as compared to the similar period last year.
Claims volume: UAH 11.4 million, that is by 8.7% higher as compared to the similar period last year.
Number of claims: 1 196 pieces, that is by 2.1% higher as compared to the similar period last year.
The largest claim per one insurance event (under CASCO treaty for the damaged Range Rover) amounts to UAH 550 000.
Average claim per one insurance event amounts to UAH 9 300
Note:
Insurance Company “Globus” Vienna Insurance Group is one of the leading financial institutions of Ukraine with great experience and powerful personnel. The Company was founded in 1994 with a central office located in Kyiv. Widely developed network of regional agencies and representations provides citizens with high-quality insurance services in all regions of Ukraine. According to the data of the rating agency “Expert Rating”, the rate of financial openness and stability of the Insurance Company “Globus” Vienna Insurance Group is the highest level “Aa”. Since 2006 Insurance Company “Globus” has become a member of international insurance group VIENNA INSURANCE GROUP (Vienna, Austria)
The listed Vienna Insurance Group (VIG), with its registered office in Vienna, is one of the leading insurance groups in the EEC. Apart from its home market in Austria, the Vienna Insurance Group operates in Albania, Bulgaria, Croatia, Estonia, Georgia, Germany, Hungary, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, the Ukraine and Byelorussia through insurance stakes. It also has branches in Italy and Slovenia.
On the Austrian market, the Vienna Insurance Group (VIG) is represented by Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung. It also has a minority stake in Wüstenrot Versicherung.
We promise only that what we can do!
No. 41/2010 of 25.08.2010
Note: The Press-release is prepared on the basis of the official Press-release of Vienna Insurance Group Nr.16/2010 of 19.08.10
