EANS-News: Vienna Insurance Group / VIENNA INSURANCE GROUP WITH A SOLID START INTO 2015

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Financial Figures/Balance Sheet/3M 2015

ALL COUNTRIES AND BUSINESS LINES POSITIVE

"In a very challenging market environment, Vienna Insurance Group
managed successfully to achieve positive results in all countries and
business lines. Our strong regional ties which give us a close
relationship with the markets resulted in certain parts in a
significant premium growth." Peter Hagen, CEO Vienna Insurance Group

In the first quarter of 2015, Vienna Insurance Group wrote
consolidated premiums of about EUR 2.8 billion, representing an
increase of 0.9 percent despite the marked decline in single premium
policies in life.

Profit (before taxes) reached EUR 130.9 million in the first quarter
of 2015. All countries and business lines contributed positively to
this result. The historically low interest rates adversely affected
current income in the financial result and also made a precaution for
personnel provisions in Austria necessary. In addition, interest
expense for the subordinated bond issued in March 2015 was recognised
for the first time. Furthermore, notably higher expenses were
registered in weather related claims than in the same quarter in the
prior year. Overall, this led to a decreased result of 15.2 percent.

The combined ratio improved further and stood at 96.3 percent, a very
good level.

Vienna Insurance Group's investments (including cash and cash
equivalents) rose by 4.0 percent and amounted to EUR 32.4 billion as
of 31 March 2015. The Group's financial result amounted to EUR 273.4
million.

All countries and business lines make positive contributions to VIG's
result At the beginning of the financial year 2015, Vienna Insurance
Group's strategy of strong regional diversification proved to be
successful. All countries and business lines contributed positively
to profit (before taxes). Despite the difficult market conditions,
the positive earnings performance in Romania, Croatia and Ukraine,
among others, should be emphasised. A significant double-digit
premium growth was achieved in the Remaining Markets of Vienna
Insurance Group.

Stable development in the Austrian market - VIG number 1 In Austria,
the Group companies achieved premiums of EUR 1.3 billion. In property
and casualty, the strong growth of Wiener Städtische Versicherung
offset the further decline in premiums written by Donau Versicherung
in Italy. In life, the single premium business declined, while a
slight increase was recorded in regular premiums. Profit (before
taxes) amounted to EUR 39.6 million; it was adversely affected by the
precaution for personnel provisions due to the low interest rate
environment, increased expenses for weather related claims and the
high reserve ratio and charges in Italy. The trend in the combined
ratio was positive, improving to 98.1 percent.

Highest earnings contribution from the Czech Republic In the Czech
Republic, the Group wrote total premiums of EUR 457.8 million. An
increase of 6.6 percent was achieved in motor casco and regular
premiums in life grew by 2.7 percent. With profit (before taxes) of
EUR 45.8 million, the Group companies in the Czech Republic again
made the highest earnings contribution to Vienna Insurance Group in
the first quarter of 2015, in spite of increased expenses for weather
related claims. The combined ratio stood at an excellent 89.7
percent.

Slovakia - Sustained demand in life insurance In Slovakia, the Group
companies increased premiums to EUR 214.7 million. The success of
bank distribution through the local Erste Group subsidiary resulted
in a 4.7 percent increase in life premiums. Growth of 2.7 percent was
achieved in regular premiums and single premiums increased by 5.8
percent. Profit (before taxes) rose to EUR 9.7 million, while the
combined ratio improved to very good 94.5 percent.

Poland - Success in a competitive environment Vienna Insurance
Group's performance in Poland was particularly influenced by the
decline in single premiums in life. Without this factor, premium
growth of 17.6 percent was achieved. With a plus of 4.3 percent to
EUR 16.6 million, profit (before taxes) turned in very encouraging.
The combined ratio stood at 98.1 percent.

Positive trends in Romania The overall improvement in conditions in
the Romanian insurance market enabled intensified sales activities
for the first time in years. With a strong increase of 21.7 percent,
premiums written grew to EUR 100.3 million. An increase in premiums
of 21.8 percent was achieved in property and casualty. Premiums in
life also rose by 21.1 percent to EUR 16.6 million, demonstrating the
success of the strong partnership in bank distribution with the local
Erste Group subsidiary BCR for unit-linked insurance products. The
restructuring measures in Romania are having an effect and resulted
in a profit (before taxes) of EUR 1.8 million. In 2015, we will
continue to work on the improvement of the combined ratio which is
still above the 100 percent mark.

Remaining Markets - double-digit growth The Remaining Markets region
again proved its sustainable potential in the first quarter of 2015.
The positive trend in premiums resulted in a climb in business volume
of 15.9 percent. In property and casualty, premiums increased by 8.5
percent to total of EUR 183.2 million, and in life the Group recorded
a 29.4 percent rise in premiums to EUR 169.6 million. The region
showed particularly strong growth for the companies in Serbia (+23.7
percent), Turkey (+23.6 percent) and Albania (+17.8 percent).

Successful bond issue strengthens capital structure In March, Vienna
Insurance Group issued a subordinated bond in the amount of EUR 400
million. In addition, shares of the 1st tranche of the EUR 500
million hybrid bond, issued in 2008, and the supplementary capital
bond 2005-2022, issued in January 2005, were repurchased. These
measures contributed to the further strengthening of the Group's
capital structure.

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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company: 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