Key figures for Vienna Insurance Group and employees

Key figures for Vienna Insurance Group

Earnings per share

Earnings per share is a key figure equal to consolidated net income (less non-controlling interests and interest on hybrid capital) divided by the average number of shares outstanding. Earnings per share were EUR 3.17 in 2012 (2011: EUR 2.87).

RoE (Return on Equity)

RoE is the ratio of consolidated profits to total average equity of Vienna Insurance Group. The Group generated a return on equity (RoE) of 10.9% in 2012 (2011: 11.1%).

Combined ratio significantly below 100%

The Group had a combined ratio (after reinsurance, not including investment income) of 96.7% in 2012. This means that Vienna Insurance Group not only held its combined ratio below the 100% mark, but even achieved a small reduction of 0.1 percentage points compared to the previous year. The combined ratio was still at 96.8% in 2011.

This was possible due to efforts taken to optimise back-office functions. The underwriting business became more profitable in many regions. The segment reporting by region provides a detailed discussion of the reasons for these developments.

The combined ratio is calculated as the sum of all underwriting expenses and income, and net payments for claims and insurance benefits, including the net change in underwriting provisions, divided by net earned premiums in the property and casualty segment.

Employees

Vienna Insurance Group had an average of 24,086 employees in 2012, a decrease of 816 compared to the previous year. This decrease was mainly due to the change in consolidation methods (from fully consolidated to at equity) for four non-profit housing societies in Austria (due to a loss of control) and business development in Romania.

Employees by region