about us | newsletter | contact | archive | members area
Ilinca Paun, Colliers International
"Romania has become one of the prime locations for IT or BPO/SSC companies to set up sho»

Vienna Insurance Group posts 221 million Euro profit in the first half of 2017

Vienna Insurance Group reached a profit before taxes of around 221 million Euro (9.6 percent increase) in the first half of 2017, with all figures showing improvement, a press release shows.

2017-08-22 11:07:49

"All of the key figures in our 2017 half-year report show an improvement compared to the same period last year," said Elisabeth Stadler, CEO of Vienna Insurance Group, summarising the result at the end of the first half of 2017. "This demonstrates our commitment to being a stable, reliable partner for our stakeholders. We are also working consistently and efficiently on our ‘Agenda 2020' management programme, which has made significant progress since the last quarter, particularly in the assistance area."

The group profit (before taxes) of 220.5 million Euro was higher than the previous year result of 201.3 million Euro. The increase in profit was primarily due to improvements in the combined ratio and financial result. Romania (+ 62.9 per cent) and Poland (+58.4 per cent) recorded particularly large profit increases. This was mainly due to the measures taken for long-term improvement in the motor insurance business in both countries.

The financial result was 488.4 million Euro, 8.7 per cent higher than in the previous year. This was primarily due to increased income from full consolidation of the non-profit housing societies and large profits realised from the sale of shares.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  421 Views
Daily Info
Michele Abbate was appointed as new CEO of Enel Energy and Enel Energy Muntenia

Michele Abbate is the new CEO of Enel Energy and Enel Energy Muntenia, the two companies owned by the Enel group in Romania.

CTP invests 15 million Euro in a new logistics park near Cluj-Napoca

The industrial parks developer CTP invests 15 million Euro in the development of a new logistics park near Cluj-Napoca. CTPark Cluj II will be located in Floresti and will hav...

AFI Europe to develop AFI Brasov by 2019, its third shopping mall in Romania

AFI Europe sets the cornerstone of AFI Brasov, the company's third shopping mall in Romania and announces the advancement of construction works.

Bog'Art to build IKEA's second store in Bucharest

IKEA has announced that Bog'Art will build its new store from Theodor Pallady area in Bucharest. The second store in Bucharest will be opened next year, following an investmen...

Romania's sovereign fund to be launched in 2018

Romania's first sovereign fund for development and investments (FSDI) will be available starting January 1, 2018 and it will finance the developments of infrastructure alongsi...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on