EANS-Adhoc: Vienna Insurance Group reports stable development in the first half of 2009

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Results 6M 2009

20.08.2009

- Group premiums significantly above EUR 4 billion

- Profit (before taxes) of about EUR 230 million

- Double-digit growth in numerous CEE markets

- Cost measures lead to favorable operating result

- Number 1 position in CEE core markets* further strengthened

OVERVIEW OF KEY GROUP DATA FOR THE 1st SIX MONTHS OF 2009 (in
accordance with IFRS) **

In the first six months of 2009, Vienna Insurance Group achieved a
total of premiums written (consolidated) of EUR 4.25 billion. Based
on euros, this corresponds to an increase of 0.9 percent compared to
the same period of the previous year. The net earned premiums rose by
4.1 percent (based on euros).

The Group companies of Vienna Insurance Group managed to stay on a
growth path despite the currently difficult economic situation. Based
on local currencies Vienna Insurance Group registered a significant
plus of 6.3 percent of premiums written, while the net earned
premiums climbed by 9.7 percent.

The Group profit (before taxes, consolidated) amounted to EUR 230.25
million in the first six months of 2009 which is compared to the
international industry a very good result. The difficult situation in
the capital markets as well as the one-off effects of the sale of
BA-CAV and Unita last year led to a year-on-year decline (minus 20.1
percent). Compared to the first half of 2007, Vienna Insurance Group
even succeeded in increasing the result by EUR 15 million; this
corresponds to a plus of 7 percent.

The adverse effects arising from storm damages - predominantly in
Austria and the Czech Republic - were more than compensated for by
the cost-cutting restructuring measures implemented by the
management.

The combined ratio of the Group after reinsurance (excluding income
from investments) stood at 95.5 percent during the first six months
of the current year; this is a slight improvement - contrary to the
market trends. The loss ratio increased by about EUR 20 million net
or 1.6 percentage points (which was mainly due to storm damages),
while the Group´s expense ratio dropped by 2.1 percentage points,
corresponding to an amount of EUR 36 million.

The financial result for the first six months of 2009 amounted to EUR
471.58 million. The minus of 23.8 percent reflects the continuing
difficult situation in the capital markets. A comparison with
prior-year data is possible only to a limited extent due to the
non-recurring effects of the sale of BA-CAV and Unita last year (EUR
325 million).

As of 30 June 2009, the investments of the Group amounted to EUR
25.08 billion. This is a 2.2 percent increase from the level of 31
December 2008.

The shareholders´ equity of the Group increased by 8.5 percent to a
total of EUR 4.49 billion.

* Definition CEE: Czech Republic, Slovakia, Poland, Romania,
Bulgaria, Croatia, Serbia and Hungary ** All statements for the first
six months of 2009 include figures from s Versicherung Group and the
BCR insurance companies. BA-CAV and Unita are included only in
comparisons to the first six months of 2008.

end of announcement euro adhoc
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ots Originaltext: Vienna Insurance Group
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

VIENNA INSURANCE GROUP (V.I.G.)

1010 Wien, Schottenring 30

Mag. Barbara Hagen-Grötschnig

Unternehmenskommunikation

Tel.: +43 (0)50 350-21027

Fax: +43 (0)50 350 99-21027

E-Mail: barbara.hagen@vig.com

Mag. Thomas Schmee

Investor Relations

Tel.: +43 (0)50 350-21900

Fax: +43 (0)50 350 99-21900

E-Mail: thomas.schmee@vig.com

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: WBI, ATX Prime, ATX
Börsen: Prague Stock Exchange / stock market
Wien / official market