A sound development of premiums has been recorded by Vienna Insurance Group in spite of tough market environment. In the first three quarters of the year 2013, consolidated premiums were equal to EUR 7.1 billion (-5.1%).

The main reason behind the fall in premium was the deliberate decrease in the short-term single-premium business in Poland along with the motor business in Italy.

Vienna Insurance Group reported an increase in premiums of nearly 2% without making any special efforts. Premiums in health insurance persistently increased to a total of EUR 303.7 million (+1.8%).

Before taxes, the profit earned by the group was EUR 315.9 million and the combined ratio reached to 100.6%.

In the third quarter of 2013, an important improvement in the profit (before taxes) was 110.2 million. However, in the last quarter it was EUR 46.3 million. The earnings (before taxes) increased by 4.5 %. Significant contributions were also made by the remaining CEE markets.

As of 30 September 2013, the investments, together with cash and cash equivalents, totaled EUR 29.5 billion. Cooperation with Erste Group has proved to be very successful, particularly in the Czech Republic.

The Czech Republic emerged out as most profitable market of the Group in the first nine months of the year 2013.