Generali Holding Vienna AG
Generali Holding Vienna english
Generali Vienna Group grows by 7%
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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First-quarter premium income recorded by this multinational financial services
group grew by nearly 7 per cent to EUR 794 million.
The Generali Vienna Group reported rapid growth in its first-quarter premium
income on non-life insurance business, although premium income in the life
insurance segment was slightly down on the previous year. In all, the members of
the group recorded first-quarter premium income of EUR 794.0 million, which
translates into growth of 6.8 per cent. This international financial services
group thus continued to expand rapidly.
Growth in the primary insurance segment (i.e. without reinsurance) was even more
rapid at 7.6 per cent. That growth was driven by non-life insurance lines,
which expanded by 11.1 per cent, whereas the life insurance segment shrank
slightly, declining in volume by 1.2 per cent. On the other hand, life insurance
funds grew by an impressive 10.4 per cent to more than EUR 17 billion.
First-quarter claims and benefit payments were only 4.1 per cent up on the
equivalent figure for the first quarter of 2001 at EUR 485.5 million. Expenses
increased by just 1.5 per cent to EUR 185.6 million; the group was able to
reduce its expense-ratio by 1.2 percentage points.
The Generali Vienna Group’s consolidated investments grew by 1.8 per cent to EUR
8 billion during the first three months of 2002. First-quarter current
investment income was 12 per cent below last year’s first quarter, down to EUR
93.4 million.
Outlook: improved results
The Managing Board of Generali Holding Vienna AG expects full-year premium
income to grow to EUR 2.6 billion. As things stand at the moment, there should
be improvements in both underwriting and investment results. CEO Dietrich Karner
summarized the outlook for 2002 as follows: “We expect to post an overall
result that will allow us to continue to augment our own funds and declare the
same dividend as for the previous year, that is EUR 1.82 per non-par share.”
German and English versions of the Interim Report can be found at
http://www.generali-holding.at
end of ad-hoc-announcement (c)DGAP 29.05.2002
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WKN: 066135; ISIN: AT0000661350; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München und Stuttgart
290805 Mai 02
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