Business development in the Remaining Markets segment in 2012

Premiums written in the
Remaining markets segment

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Premium growth of 13.8%

Vienna Insurance Group wrote a total of EUR 975.56 million in premiums written in the Remaining Markets segment in 2012 (2011: EUR 857.19 million). This represents an increase of 13.8%. Net earned premiums were EUR 716.65 million (2011: EUR 642.86 million), an increase of 11.5% compared to the previous year.

The non-life area of the Remaining Markets segment generated EUR 604.91 million in premiums in 2012 (2011: EUR 506.47 million), representing an increase of 19.4% over the previous year. This was primarily due to very strong premium development in Georgia, Macedonia, Turkey, the Ukraine and Hungary.

Life insurance premium income from Vienna Insurance Group companies in the Remaining Markets segment rose by 5.7% to EUR 370.64 million in 2012 (2011: EUR 350.72 million). This segment recorded particularly good growth in the Baltic States, Bulgaria and Liechtenstein.

Expenses for claims and insurance benefits

Expenses for claims and insurance benefits were EUR 512.04 million in 2012 (2011: EUR 464.55 million). This corresponds to an increase of 10.2% in expenses for claims and insurance benefits (less reinsurance) compared to the previous year.

Acquisition and administrative expenses

Vienna Insurance Group recorded an increase from EUR 176.56 million to EUR 201.44 million in acquisition and administrative expenses in the Remaining Markets segment in 2012.

Profit before taxes increases to EUR 39.13 million

As a result of the good growth recorded in this segment, both in life and non-life insurance, the Vienna Insurance Group companies increased their profit from EUR 23.15 million to EUR 39.13 million.

Combined ratio of 98.2%

Vienna Insurance Group had a combined ratio of 98.2% in the Remaining Markets segment (2011: 101.1%).

Vienna Insurance Group in the Remaining markets segment*