about us | newsletter | contact | archive | members area
Bogdan Badea, Hidroelectrica
There is a need for urgent cost optimization»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Vienna Insurance Group posts profit of 110 million Euro in Q1

Vienna Insurance Group reported a profit before taxes of around 110 million Euro in the first quarter of 2017, according to a press release.

2017-06-20 15:02:59 - From the Print Edition

"All our key performance indicators are showing a clear improvement compared to the first quarter of the previous year and are thus fully in line with our plans," stated Elisabeth Stadler, Chairwoman of the Managing Board of Vienna Insurance Group, summarising the initial positive interim results for the year. "The good economic outlook for both Austria and our Central and Eastern European markets makes us highly confident that we are on course for continued success in 2017."

Total premium volume reached around 2.72 billion Euro in the first three months of 2017, corresponding to an increase of 0.5 per cent compared to the first quarter of 2016.

Single premium life insurance business continued to decline (-22.1 percent). Excluding single premium products, premiums increased by 4.2 per cent year-on-year. Health insurance recorded the largest increase, with premiums rising by 12.5 per cent to 150.7 million Euro. In motor vehicle insurance, the own-damage line of business recorded strong premium growth of 10.7 per cent (284.4 million Euro), while premiums for third party liability insurance declined slightly by 0.6 per cent (368.5 million Euro).

Profit before taxes was around 110 million Euro, corresponding to an increase of 22.4 per cent compared to the first quarter of 2016. The companies in the Czech Republic made the largest contribution to Group profit, namely 38 per cent, followed by Austria (35 per cent) and Slovakia (10 per cent). VIG generated a financial result of 247.7 million Euro in the first quarter of 2017.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  3624 Views
Daily Info
PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take over t...

Colliers Romania appoints Laurentiu Lazar as new managing partner

Laurentiu Lazar will take over as the new managing partner of the real estate consultancy company Colliers International Romania, effective as of March. Ilinca Paun, the curre...

Skanska Romania appoints Aurelia Luca as new managing director

Skanska Property Romania, the local division of one of the largest real estate developers, announces changes at the top of management in Romania. Marcin Lapinski, Managing Dir...

Banca Transilvania has become a shareholder of Victoriabank

Banca Transilvania has become a shareholder of Victoriabank, the third largest bank in the Republic of Moldova, with a total participation of over 66 per cent alongside the Eu...

Rezidor to open a new Radisson Blu to open in Timisoara

The Rezidor Hotel Group announced the signing of the Radisson Blu Hotel, Timisoara. This takes the group’s portfolio in Romania to four hotels, with two in operation and two...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Contract for the purchase of 227 Piranha V armored personnel carriers, signed in presence of PM Tudose

The contract for the purchase of 227 Piranha V armored personnel carriers was signed on Friday in the presence of Prime Minister Mihai Tudose, Deputy Prime Minister Marcel ...

Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take ove...

Mihai Tudose announces his resignation as prime minister

Mihai Tudose announced on Monday evening, at the end of the Social Democrat Party (PSD) National Executive Committee (CExN) meeting, that he resigns as prime minister of Ro...

Garanti Leasing signs a loan agreement for 15 million Euro with EFSE

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of 15 million Euro with the European Fund for Southeast Europe (EFSE). The facility is meant to increa...

EIB supports the modernisation of infrastructure in Oradea

The European Investment Bank (EIB) is lending 21 million Euro to the Municipality of Oradea to finance improvements to its urban infrastructure. EIB funds will also support...

Romania plays in the big league, says Deloitte survey

On the backdrop of a stable economic context in the region and with growing macroeconomic indicators, Romania has won the deal doers' trust now becoming a core market for p...