In 2008, 54.2% of the Group’s total premium volume was generated by the property and casualty segment, 41.8% by the life insurance segment, and 4.0% by the health insurance segment.
Property and casualty insurance
Vienna Insurance Group companies generated EUR 4,278.85 million in property and casualty premiums in 2008 (2007: EUR 3,671.17 million), representing an increase of 16.6%. This increase in premiums was primarily due to the 17.3% increase in premiums (EUR 982.76 million) achieved by the Vienna Insurance Group companies in the Czech Republic, the 27.5% increase (EUR 413.45 million) achieved by the companies in Poland, and the 42.3% increase (EUR 596.16 million) achieved by the companies in Romania. The share of premiums generated in the CEE region has already reached 61.7% in the property and casualty segment. In comparison, the percentage was only 57.7% in 2007.
Double-digit growth in life insurance premiums
Vienna Insurance Group companies wrote a total of EUR 3,305.73 million in premiums in the life insurance segment, which is equivalent to an increase of 12.7% compared to a year ago.
The premium income of EUR 1,284.66 million generated by Group companies in the CEE region represented an outstanding 51.6% increase in premiums. This raises the CEE share of Group premiums generated in the life segment to 38.9%, ten percentage points higher than in the previous year. The share of premiums written in the Czech Republic already reached EUR 436.97 million in the life insurance segment, which is around 50.0% more than in 2007. EUR 275.08 million in premiums (+39.2%) was generated in this segment in Slovakia, and EUR 381.68 million (+74.4%) in the life insurance segment in Poland.
Health insurance premiums up 2.5%
Even in the health insurance business, which is only pursued in Austria to any relevant extent by Wiener Städtische, one of the leading health insurers, premiums written by the Vienna Insurance Group rose by 2.5%, to EUR 314.28 million.