Insurance Company Globus VIG Yalta Crimea

"With the preliminary data for 2011 Vienna Insurance Group demonstrates once more that it is operating successfully even against the background of difficult economic conditions. Pursuing our consistent strategy, we have achieved a sizeable growth, as expected. Despite partly significant fluctuations of important CEE currencies, we report a substantial increase in premiums of 3.4 percent and are again performing above the market average. The increase in profit before taxes by about 10 percent to nearly EUR 560 million underlines the long-term favourable development of our Group", explains Günter Geyer, CEO of Vienna Insurance Group, and adds: "Our market entry in Bosnia and Herzegovina will allow us to take advantage of existing opportunities in this new market. Furthermore, we have strengthened our presence in interesting markets by acquiring Intersig in Albania as well as the life insurance company Polisa in Poland. Taking efficiency-boosting measures, we optimise the profitability of our Group on an ongoing basis. Our goal is to gain a clear competitive edge as the leading insurance Group in Central and Eastern Europe through the best customer service."




Key VIG data in 2011:

In the financial year 2011 Vienna Insurance Group earned unconsolidated premiums written of EUR 9 billion, corresponding to an increase of about 3.4 percent.

Based on preliminary data, the forecast Group profit (before taxes, consolidated) for the year 2011 will amount to nearly EUR 560 million. This corresponds to an increase by about 10 percent.

Group's combined ratio (net, after reinsurance) will amount to about 97 percent in 2011.


Note:
Insurance Company "Globus" Vienna Insurance Group is one of the leading financial institutions of Ukraine with great experience and powerful personnel. The Company was founded in 1994 with a central office located in Kyiv. Widely developed network of regional agencies and representations provides citizens with high-quality insurance services in all regions of Ukraine. According to the data of the rating agency "Expert Rating", the rate of financial openness and stability of the Insurance Company "Globus" Vienna Insurance Group is the highest level "Aa". Since 2006 Insurance Company "Globus" has become a member of international insurance group VIENNA INSURANCE GROUP (Vienna, Austria)

The listed Vienna Insurance Group (VIG), with its registered office in Vienna, is one of the leading insurance groups in the EEC. Apart from its home market in Austria, the Vienna Insurance Group operates in Albania, Bulgaria, Croatia, Estonia, Georgia, Germany, Hungary, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, the Ukraine and Byelorussia through insurance stakes. It also has branches in Italy and Slovenia.

On the Austrian market, the Vienna Insurance Group (VIG) is represented by Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung. It also has a minority stake in Wüstenrot Versicherung.




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