Generali Holding Vienna AG
Generali Holding Vienna english
CEE markets and Motor-vehicle insurance drive growth
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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The Generali Vienna Group recorded Q1 – Q3 premium income of EUR 2.0 billion,
which was 5.7 per cent up on the same period of 2001. As outlined in its Interim
Report (published today), the principal engines of growth were the Group
Companies in Central and Eastern Europe (the CEE region) and the motor-vehicle
insurance business.
This underlined the beneficial effects of the group’s strategy of rapid growth
in the CEE region and the restructuring of the car portfolio. The Generali
Vienna Group’s Q1 – Q3 premium income on primary insurance business in CEE
markets Hungary, the Czech Republic, Poland, Slovakia, Slovenia and Romania
increased by 36.8 per cent to EUR 404.2 million. As a result, the CEE region
already accounted for 21.4 per cent of the group’s aggregate premium income on
primary insurance business. That figure does not yet take into account the
premium income of the CEE companies taken over from the Zurich Financial
Services Group in the spring of 2002.
The group’s premium income on primary insurance business in Austria grew by 0.6
per cent to EUR 1.5 billion. The Generali Vienna Group achieved exceptional
growth of 10.2 per cent (partly due to tariff adjustments) in its most important
insurance segment, namely motor-vehicle insurance, which generated premium
income of EUR 607.3 million.
The catastrophic weather of last summer inevitably had a big impact on claims,
increasing the group’s claims and benefits by 13.3 per cent to EUR 1.6 billion.
The group’s investments in its new markets in Central and Eastern Europe led to
a 2.5 per cent increase in aggregate Q1 – Q3 costs, but thanks to the success of
on-going restructuring, costs in Austria were already down on the same period
of the previous year.
The Generali Vienna Group’s consolidated investments increased by 2.4 per cent
to EUR 8.02 billion during the first three quarters of this year.
Although the financial markets are still developing poorly, the 2002 dividend
outlook at listed group holding company Generali Holding Vienna AG, Vienna,
remains unchanged. The company anticipates a full-year result that will enable
it to grow its total investments while distributing the same dividend as last
year, namely EUR 1.82 per non-par share.
More: www.generali-holding.at
end of ad-hoc-announcement (c)DGAP 28.11.2002
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WKN: 066135; ISIN: AT0000661350; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München und Stuttgart
280819 Nov 02
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