Generali Holding Vienna AG
Generali Holding Vienna english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Generali Vienna Group: Turnaround in the motor-vehicle insurance segment
The General Vienna Group continued to grow in every national market during the
first quarter of 2001. Rigorous pruning bore first fruits in the motor-vehicle
insurance segment.
Thanks mainly to a turnaround in the Austrian motor-vehicle insurance segment,
the relationship between premiums, claims and costs within the Generali Vienna
Group developed healthily during the first quarter of 2001:
Whereas the group’s premium income in its seven national markets Austria,
Hungary, the Czech Republic, Slovakia, Slovenia, Romania and Poland grew by 5.5
percent to Sch 10.2 billion/EUR 0.74 billion, accounting-year claims and
benefits only increased by 4.6 percent to Sch 6.3 billion/EUR 0.46 billion, and
costs rose by just 2.8 percent to Sch 2.6 billion/EUR 0.19 billion.
Consolidated investments grew slightly during the first quarter, namely by 1.7
percent to Sch 110.7 billion/EUR 8.05 billion. Mirroring developments in the
capital markets, current investment income was 1.9 percent down on the same
period of 1999 at Sch 1.5 billion/EUR 0.11 billion.
Taxes dent profits
The Generali Vienna Group currently expects full-year premium growth of roughly
6 percent to nearly Sch 34 billion/EUR 2.47 billion.
Although net income on ordinary activities in Austria is expected to be roughly
Sch 215 million/EUR 15.63 up from Sch 268 million/EUR 19.08 million to Sch 483
million/EUR 35.10 million on the year, the massive fiscal burdens imposed by the
Budgetbegleitgesetz (supplementary finance act) of 2000 will lead to a fall in
the Austrian subsidiaries’ net earnings for the year.
Nonetheless, the Managing Board of the group’s quoted parent Generali Holding
Vienna AG expect to record an overall result that will allow further allocations
to own funds and the distribution of the same outpayment to shareholders as for
2000.
The entire Interim Report for the period ended 31 March 2001 can now be
downloaded from the Internet site at www.generali-holding.at
end of ad hoc announcement (c) DGAP 30.05.2001
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WKN: 066135; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München und Stuttgart
Wiener Börse
300756 Mai 01
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