Consolidated income statement for the period from 1 January 2012 to 31 December 2012

Premiums

28

Premiums written – gross

9,685,667

8,883,665

Premiums written - reinsurers´ share

-709,812

-738,644

Premiums written – retention

8,975,855

8,145,021

Change in unearned premiums - gross

-4,956

-32,959

Change in unearned premiums - reinsurers’ share

25,911

10,755

Net earned premiums – retention

8,996,810

8,122,817

Financial result excluding at equity consolidated companies

29

Income from investments

1,749,497

1,676,144

Expenses for investments and interest expenses

-530,348

-755,539

Total financial result excluding at equity consolidated companies

1,219,149

920,605

Result from shares in at equity consolidated companies

30

21,370

11,004

Other income

31

115,331

115,360

Expenses for claims and insurance benefits

32

Expenses for claims and insurance benefits - gross

-7,811,631

-6,920,004

Expenses for claims and insurance benefits - reinsurers’ share

221,276

384,039

Total expenses for claims and insurance benefits

-7,590,355

-6,535,965

Acquisition and administrative expenses

33

Acquisition expenses

-1,586,254

-1,521,130

Administrative expenses

-347,134

-349,903

Reinsurance commissions

118,501

118,381

Total acquisition and administrative expenses

-1,814,887

-1,752,652

Other expenses

34

-360,011

-322,161

Profit before taxes

587,407

559,008

Tax expenses

35

-120,083

-117,099

Profit for the period

467,324

441,909

thereof attributable to Vienna Insurance Group shareholders

446,194

406,746

thereof non-controlling interests in net profit for the period

14

21,130

35,163

Earnings per share*

14

Undiluted = diluted earnings per share (in EUR)

3.17

2.87