Generali Holding Vienna AG
Generali Holding Vienna english
Generali Vienna Group: Further dynamic growth
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Generali Vienna Group: Further dynamic growth
Even after the catastrophic weather events of this summer and although
developments in the capital markets remain unsatisfactory, listed Group parent
Generali Holding Vienna AG, Vienna, has confirmed its dividend projection for
2002. As described in the Group’s semi-annual report, published today, Generali
Holding Vienna AG expects to post a full-year result that will allow it to
continue to augment its own funds while distributing the same outpayment to
shareholders as for 2001 (EUR 1.82 per non-par-value share).
The Generali Vienna Group continued to grow during the first half. The Group’s
premium income in the seven countries in which it operates – Austria, Hungary,
the Czech Republic, Slovakia, Poland, Slovenia and Romania – grew by 6.0 per
cent to EUR 1.43 billion. Reinsurance business accounted for EUR 100 million of
that total. The remainder – EUR 1.33 billion – derived from primary insurance
business.
The Group’s premium income on non-life insurance lines grew particularly
rapidly, increasing by 9.2 per cent to EUR 952 million.
The Group reported growth of nearly 50 per cent in its life insurance premium
income in Central and Eastern Europe (the CEE region), which already accounted
for over 20 per cent of total premium income on life insurance business.
Claims, benefit outpayments and the Group’s overall costs increased by much less
than premium income. Claims and benefit outpayments during the first half came
to EUR 1.1 billion, which translates into an increase of 3.2 per cent. However,
the Generali Holding Vienna Group will be among those badly affected by flood
damage in August. The reinsurance treaties that are currently in place will
reduce the impact of recent weather events.
The Generali Holding Vienna Group adheres strictly to the Strenges
Niederstwertprinzip (lower of cost and market principle) when valuing
investments. During the first half of 2002, its consolidated investments grew
by EUR 367 million or 4.7 per cent to EUR 8.2 billion.
Besides predicting an unchanged dividend, the Generali Vienna Group anticipates
a 4.8 per cent increase in its full-year premium income to EUR 2.6 billion.
end of ad-hoc-announcement (c)DGAP 29.08.2002
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WKN: 066135; ISIN: AT0000661350; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München und Stuttgart
290755 Aug 02
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