Please note: Rounding differences may occur when rounded amounts or percentages are added up.
2
VIG VIENNA INSURANCE GROUP
HIGHLIGHTS 3M 2021
Strong profit growth in the first quarter
Gross written premium
Profit before taxes
Combined Ratio
€ 3,106.8mn
€ 128.0mn
95.2%
GWP down by 0.4% (-€11.4mn)
PBT up by 5.0% (+€6.1mn)
Rather stable development (+0.1ppt)
▪
Strongest GWP growth by segment in
▪
PBT development mainly driven by less
▪
Claims ratio up to 62.4% (62.2%)
Central Functions (+€43mn), Romania
expenses for insurance claims and benefits
(+€20mn), Czech Republic (+€14mn) and
and improved financial result
▪
Cost ratio down to 32.8% (32.9%)
Poland (+€12mn)
▪
Net profit up by 15.3% to €99.0mn
▪
CoR improvements among others in
▪
Sharp decline in single premium life
Austria and the Czech Republic as well
business by €75mn (-25.3%)
▪
Earnings per share of €3.09 (+15.3%)
as in Slovakia and the Remaining CEE
segment
Other property business increasing by €79mn (+5.0%)
3 HIGHLIGHTS
VIG VIENNA INSURANCE GROUP
HIGHLIGHTS
FINANCIALS & INVESTMENTS
SOLVENCY DATA YE 2020
APPENDIX 1: SEGMENTS
APPENDIX 2: FINANCIALS
4
VIG VIENNA INSURANCE GROUP
STRONG PROFIT PERFORMANCE
3M 2021 Income statement
€mn
3M 2021
3M 2020
+/- %
Gross premiums written
3,106.8
3,118.2
-0.4
Net earned premiums
2,416.3
2,488.3
-2.9
Financial result*
173.5
140.8
23.2
Other income
58.4
86.2
-32.2
Total Income
2,648.3
2,715.2
-2.5
Expenses for claims/benefits
-1,822.6
-1,883.6
-3.2
Acquisition and administrative expenses
-627.6
-609.0
3.1
Other expenses
-70.1
-100.7
-30.4
Total Expenses
-2,520.3
-2,593.3
-2.8
Result before taxes
128.0
121.9
5.0
Tax expenses/income
-27.9
-33.1
-15.7
Result of the period
100.1
88.8
12.7
Non-controlling interests
-1.1
-2.9
-63.5
Net profit after non-controlling interests
99.0
85.9
15.3
Claims Ratio
62.4%
62.2%
0.1%p
Cost Ratio
32.8%
32.9%
0.0%p
Combined Ratio
95.2%
95.1%
0.1%p
* Thereof result from shares in at equity consolidated companies: -€2.3mn (3M 2020: €4.9mn)
5 FINANCIALS & INVESTMENTS
Premium decline mainly driven by single premium life insurance (-€75.0mn) and regular premium life insurance (-€5.4mn); adjusted for FX effects premium growth of 1.6%
Improved financial result (incl. at equity consolidated companies) by €32.7mn mainly due to less depreciation of investments
Decrease of other income and other expenses impacted by FX and the decline in bad debt allowances in the Czech Republic, Romania and Bulgaria
Result before taxes increased by 5.0% supported by less expenses for claims/benefits and better financial result
Tax ratio of 21.8% (3M 2020: 27.2%)
VIG VIENNA INSURANCE GROUP
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Vienna Insurance Group AG published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 06:17:02 UTC.
Vienna Insurance Group AG is a leading Austrian insurance company. Gross written premiums break down by activity as follows:
- non-life insurance (67.4%): insurance for vehicles, fire, property, accidents, homes, marine-aviation-transportation, etc.;
- life insurance (26.8%);
- health insurance (5.8%).
Gross written premiums break down geographically as follows: Austria (28.8%), Czech Republic (14.8%), Poland (9.4%) and Europe (47%).
VIENNA INSURANCE GROUP AG 
