EANS-Adhoc: Vienna Insurance Group - Supervisory Board adopts changes of Group Managing Board

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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30.03.2011

Günter Geyer, 67, will - as announced - resign as Chairman of the
Managing Board of the listed Vienna Insurance Group AG with effect 31
May 2012 - after adoption of the financial statements for the year
2011. Subsequently, Mr. Geyer will focus on strategic issues from the
perspective of the main shareholder and chair Supervisory Boards of
Group companies such as Wiener Städtische Versicherung, Donau
Versicherung, s Versicherung and Kooperativa. With reference to the
corporate governance rules, Mr. Geyer excludes the possibility of
becoming a member of the Supervisory Board of Vienna Insurance Group
AG.

Based on a forward-looking approach to developing the Group
management and following the proposal of General Manager Günter
Geyer, the Supervisory Board of Vienna Insurance Group AG Wiener
Versicherung Gruppe adopted the following in its meeting of today:

Peter Hagen, 51, currently Deputy General Manager will become
Chairman of the Managing Board and General Manager (Chief Executive
Officer) of the listed Vienna Insurance Group AG with effect 1 June
2012. Peter Hagen joined the Group in 1989 and has been a member of
the Managing Board of Vienna Insurance Group since July 2004. He
gained extensive experience at top management level in various
business areas in Austria and CEE. As the Chairman of the Managing
Board, he played an essential role in the successful development of
business operations in Slovakia and the Czech Republic.

Franz Kosyna, 56, will be appointed as a member of the Managing Board
of Vienna Insurance Group AG with effect 1 July 2011. The title
Deputy General Manager will be awarded to him with effect 1 June
2012. Franz Kosyna has been active in the Group since 1983. In 1999
he became a member of the Managing Board of the Slovak Kooperativa;
he was appointed as its Deputy General Manager in 2003. As from the
year 2005, Mr. Kosyna headed the Czech Ceská podnikatelská
pojist'ovna as General Manager. After working successfully at
international level, Mr. Kosyna assumed the office of Managing Board
Chairman of the Austrian group company Donau Versicherung in July
2009.

Judit Havasi, 35, will be appointed deputy member of the Managing
Board with effect 1 July 2011. Ms. Judit Havasi has been active for
Vienna Insurance Group since 2000. She was a member of the Managing
Board of Union Biztosító in Hungary and has belonged to the Managing
Board of Wiener Städtische Versicherung AG since October 2009. Ms.
Havasi will contribute her comprehensive international experience as
a top manager and profound knowledge of the Group.

Martin Divis, 38, will resign from the Managing Board with effect 30
June 2011 to focus his activity on the Group companies in the Czech
Republic and Ukraine. He will be a deputy member of the Managing
Board as from 1 July 2011.

Until 31 May 2012, the Managing Board of Vienna Insurance Group will
be composed as follows:

General Manager (CEO) Günter Geyer
Deputy General Manager Peter Hagen
Franz Kosyna
Martin Simhandl, CFO
Franz Fuchs
Peter Höfinger

As from 1 June 2012, the Managing Board of Vienna Insurance Group
will be composed as follows:

General Manager (CEO) Peter Hagen
Deputy General Manager Franz Kosyna
Martin Simhandl, CFO
Franz Fuchs
Peter Höfinger

As from 1 July 2011, the deputy members of the Managing Board are as
follows:

Martin Divis
Judit Havasi
Roland Gröll

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 AG
Wiener Versicherung Gruppe
1010 Wien, Schottenring 30

Alexander Jedlicka
Public Relations, Spokesperson
Tel.: +43 (0)50 350-21029
Fax: +43 (0)50 350 99-21029
E-Mail: alexander.jedlicka@vig.com

Thomas Schmee
Head of 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