| XLS Download |
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2013 |
2012 |
2011 |
|
Earnings per share |
EUR 1.57 |
EUR 3.01 |
EUR 2.87 |
|
Return on equity |
6.6% |
10.5% |
11.1% |
|
Combined ratio |
100.6% |
96.7% |
96.8% |
|
Loss ratio |
69.4% |
65.9% |
65.8% |
|
Cost ratio |
31.2% |
30.8% |
31.0% |
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 1.57 in 2013 (2012: EUR 3.01).
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 6.6% in 2013 (2012: 10.5%).
Combined ratio slightly over 100%
The Group combined ratio (after reinsurance, not including investment income) rose to 100.6% in 2013. The level of 96.7% in the year before was still significantly below 100%. The increase was due to the negative special effects from Romania and Italy that were mentioned above. Natural disasters, such as the flood in the early summer of 2013, also had an effect, albeit a small one, on the change in the combined ratio.
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.