In the Other markets segment in 2007, the Vienna Insurance Group generated gross written premiums of EUR 251.17 million (2006: EUR 240.78 million). Thus, the companies from Germany and Liechtenstein were able to achieve 4.3% growth. Earned premiums amounted to EUR 220.34 million (2006: EUR 211.59 million), representing 4.1% growth from 2006.
In the non-life insurance segment, the premium volume generated in 2007 just by InterRisk in Germany amounted to EUR 65.95 million (2006: EUR 62.16 million), representing growth of 6.1% over the previous year.
In 2007 in life insurance, the premium revenues of the Vienna Insurance Group in Germany and Liechtenstein rose by 3.7%, to EUR 185.22 million (2006: EUR 178.61 million). Vienna Life contributed EUR 129.24 million (+3.8%), while InterRisk added EUR 55.98 million (+3.4%).
Expenses for insurance claims
In the Other markets segment in 2007, claims expenses totalled EUR 184.45 million. Compared to 2006, with claims expenses (excluding reinsurance) of EUR 177.05 million, this represents an increase of 4.2%.
In the Other markets segment in 2007, the Vienna Insurance Group had operating expenses of EUR 28.79 million (2006: 28.90 million). These expenses included commissions and other acquisition costs. Reinsurance commissions received were deducted. This amounted to a decline in operating expenses of 0.4% from the prior year.
In 2007 the Other markets segment generated a financial result of EUR 18.70 million. Thus, the 2006 financial result of EUR 17.87 million was exceeded by 4.7%.
Other markets contributed to profits
In the Other markets segment in 2007, the companies of the Vienna Insurance Group generated profit before taxes of EUR 12.80 million, representing a one-year increase of 8.3%, or EUR 0.98 million.
Combined ratio at 88.4%
In 2007 the combined ratio of InterRisk Insurance was below 100%, as in previous years and was 88.4% (2006: 90.4%).