Consolidated income statement

in EUR ’000

Premiums

27

Premiums written – Gross

6,911,931

5,881,510

Premiums written – Reinsurers’ share

–843,335

–792,859

Premiums written – Retention

6,068,596

5,088,651

Change due to provisions for premiums – Gross

–139,443

–59,528

Change due to provisions for premiums – Reinsurers’ share

12,540

9,555

Net earned premiums

5,941,693

5,038,678

Financial Result

29

Investment income

1,439,900

1,046,583

Investment and interest expenses

–444,126

–335,135

Total financial result

995,774

711,448

Other income

30

51,960

61,412

Claims and insurance benefits

31

Expenses for claims and insurance benefits – Gross

–5,523,539

–4,661,011

Expenses for claims and insurance benefits – Reinsurers’ share

492,032

447,691

Total expenses for claims and insurance benefits

–5,031,507

–4,213,320

Operating expenses

32

Commission and other acquisition expenses

–1,194,072

–1,026,090

Adminstrative expenses

–334,223

–293,798

Reinsurance commissions

183,185

183,488

Total operating expenses

–1,345,110

–1,136,400

Other expenses

33

–182,384

–145,852

Result from shares in affiliated and associated companies

28

6,870

5,001

Profit before taxes

437,296

320,967

Tax expenses

34

–88,425

–56,646

Profit for the period

348,871

264,321

Attributable to Wiener Städtische shareholders

312,618

260,902

Minority interests in net income for the period

13

36,253

3,419

Earnings per Share

13

basic = diluted earnings per share (in EUR)

2.98

2.48