EANS-Adhoc: Vienna Insurance Group extends presence in Poland - Acquisition of life insurer Skandia Poland

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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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Mergers - Acquisitions - Takeovers/Acquisition
12.11.2013

Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) has
concluded an agreement with Skandia Retail Europe Holding GmbH,
member of Old Mutual Group, to acquire 100 percent of shares in
Polish life insurance company Skandia Zycie TU S.A. (Skandia Poland).
It is agreed not to disclose the purchase price. The acquisition is
subject to approval by the relevant regulatory and competition
authorities.

In the first half of 2013 Skandia Poland recorded premiums written of
around EUR 45 million, making it the number 14 on the Polish life
insurance market. Its premium income totalled about EUR 91 million in
2012. Skandia Poland has been operating on the Polish market for 14
years and sells its products - primarily unit-linked life insurance
policies - particularly through financial intermediaries such as
banks, insurance brokers and insurance platforms. The company
currently employs 150 people.

VIG in Poland The Vienna Insurance Group is represented in Poland by
three non-life insurance companies, Benefia, Compensa and Interrisk,
and three life insurers, Benefia Life, Compensa Life und Polisa Life.
These companies posted a combined premium volume of some EUR 610
million in the first six months of 2013, putting them in third place
on the Polish market. VIG has had a presence in the country since
1998 and has become one of Poland's leading insurers over the past
few years thanks to strong organic growth and a number of strategic
acquisitions.

Further inquiry note:
VIENNA INSURANCE GROUP AG
Wiener Versicherung Gruppe
1010 Wien, Schottenring 30

Alexander Jedlicka
Head of Public Relations, Spokesperson
Tel.: +43 (0)50 390-21029
Fax: +43 (0)50 390 99-21029
E-Mail: alexander.jedlicka@vig.com

Nina Higatzberger
Head of Investor Relations
Tel.: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920
E-Mail: nina.higatzberger@vig.com

end of announcement euro adhoc
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issuer: Vienna Insurance Group
Schottenring 30
A-1010 Wien
phone: +43(0)50 390-21919
FAX: +43(0)50 390 99-23303
mail: investor.relations@vig.com
WWW: www.vig.com
sector: Insurance
ISIN: AT0000908504
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien, stock market: Prague Stock Exchange
language: English