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18 April 2012. Company presentation. Vienna Insurance Group. active in 25 countries of Europe. Vienna Insurance Group at one glance. listed on the stock exchange in Vienna and Prague. operates about 50 insurance companies.

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Company presentation

18 April 2012

Company presentation

Vienna Insurance Group


Vienna insurance group at one glance

active in 25 countries of Europe

Vienna Insurance Group at one glance

  • listed on the stock exchange in Vienna and Prague

  • operates about 50insurance companies

  • approx. 25,000 employees working for VIG groupwide

  • Rating: A+ with a stable outlook (Standard and Poor's)

  • headquartered in Vienna, Ringturm


About 190 years in austria and over 20 years in cee
About 190 years in Austria and over 20 years in CEE

Success beyond borders

Two important steps in corporate history:

1824:

Foundation of the first insurer that is part of today's Group

1990:

VIG was one the first Western European insurance companies to venture into Central and Eastern Europe

1

Czechoslovakia

2

2

Austria

1

4


Market entries
Market entries

Focus on Central and Eastern Europe

Germany, Czech Republic,

Slovakia

Hungary, Poland, Liechtenstein,

Croatia, Italy

Romania, Bulgaria, Serbia

Belarus

Slovenia, Ukraine

Georgia, Russia

Albania, Macedonia,

Turkey

Baltic States, Acquisition of Erste Group insurance operations

Montenegro

Bosnia and Herzegovina

1990

1996-99

2001/02

2004

2006

2007

2008

2010

2011


Top market positions in austria and cee
Top market positions in Austria and CEE

Core markets

Further VIG markets


Business objectives
Business objectives

The VIG is aimed to achieve long-term continuous growth in premiums and earnings

Objectives of the Vienna Insurance Group

  • Keeping the top position in Austria

  • Steady expansion of insurance activities in CEE


Management principles
Management principles

The five cornerstones of corporate strategy


Long term growth potential in cee
Long-term growth potential in CEE

Insurance density 2010 in EUR

  • Insurance density in the VIG core markets excl. Austria1 (~ EUR 207) far below the Western European level

  • Huge convergence potential of the CEE-countries in the life and non-life segment

  • Growth rates of insurance markets in CEE are significantly higher than those in Western Europe

Life

Non-life

Source: In-house calculations based on publications by national insurance supervisory authorities and associations, the IMF and Swiss Re (Sigma)1 weighted average: Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Ukraine


Multi channel distribution

The variety of distribution channels ensures optimum access to customers in every market.

Established channels of distribution are the key for building the Group's position.

The importance of the individual sales channels varies from company to company, depending upon the country’s legal framework as well as the level of development of its insurance sector and the specific business model

Bancassurance partner: Erste Group

Multi-channel distribution

Effective distribution with multiple distribution channels

Strong customer orientation

Salaried field staff and exclusive agents

Non-exclusive agents

Bank distribution

Brokers

Others (car dealers, direct sales,…)


The multi brand policy

local brand = to customers in every market.first name(individuality, local identity)

The multi-brand policy…

…significantly differentiates VIG from other market participants

Vienna Insurance Group = family name

(security, strength, internationality)

  • It helps to maintain the loyalty and commitment of local employees and managers.

  • Allows established, well known brands that already enjoy good customer recognition to be retained.

  • Established distribution relationships are also easier to continue.

MANY BRANDS ONE GROUP


Group result 2011

Group result 2011 to customers in every market.


Development 2011
Development 2011 to customers in every market.

Excellent development

in difficult economic environment

Best result in company history

  • EUR 8.9 billion premium income (+3.4%) despite fluctuation in CEE-currencies

  • PBT: Excellent increase of 10.1%to EUR 559.01 million (yoy)

  • Combined Ratio at 96.8% (-1.6%p)

13


Business development 2007 2011
Business development 2007-2011 to customers in every market.

IFRS, in EUR million

Premiums written

Profit before taxes

+10% yoy

14


Premium income
Premium income to customers in every market.

Premiums written by lines of business, IFRS

Vienna Insurance Group with solid growth


Thank you for your attention

Thank you for your attention! to customers in every market.


Back up

BACK-UP to customers in every market.


Organisational structure (status as of April 2012) to customers in every market.

Managing Board

GeneralSecretariat

Group-Controlling

Enterprise Risk

Management (Solvency II)

Actuarial Department

Internal Audit

Investor

Relations

Member of the Managing BoardFranz Fuchs

General ManagerGünter Geyer

Member of the Managing BoardFranz Kosyna

Deputy General ManagerPeter Hagen

Member of the Managing BoardPeter Höfinger

Member of the Managing Board, CFOMartin Simhandl

  • Management of the VIG-Group

  • Strategic questions

  • Public relations

  • Marketing / Sponsoring*

  • Law

  • Human resources

  • Group IT / Back office

  • SAP Smile Solutions

  • Asset management

  • Asset risk management

  • Subsidiaries department

  • Finance and accounting

  • Performance management motor vehicle insurance

  • Project Internal capital model (Project Solvency II)

  • Cost structure of the Group

  • VIG RE

  • Performance management personal insurance

  • International corporate and large customer business

  • Vienna International Underwriters (VIU)

  • Reinsurance

Country responsibilities

Deputy members of the Managing Board:

  • Martin Diviš

  • Roland Gröll

  • Judit Havasi

  • Rudolf Ertl

  • Karl Fink

  • Hans Raumauf

Members of the Extended Executive Board

(Advisory function):

* Tasks performed by order of the principal shareholder Wiener Städtische Wechselseitige (Mr. Geyer / Mr. Fink); Responsible VIG: Mr. Kosyna


Premium income1
Premium income to customers in every market.

Premiums written by region, IFRS

Positive development of the CEE region

* Remaining markets include: Albania (incl. Kosovo), Baltic States, Bulgaria, Croatia, Georgia, Germany, Hungary, Liechtenstein, Macedonia, Serbia, Turkey and Ukraine


Premium income2
Premium income to customers in every market.

2011 (2010)

% share by region

% share by lines of business

Non-CEE

47.9%

(50.0%)

Property/Casualty

51.5%(50.6%)

Life

44.4%

(45.5%)

CEE

52.1%

(50.0%)

Health

4.1%

(3.9%)

Figures for 2010 in brackets


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