EANS-Adhoc: VIENNA INSURANCE GROUP 1st-3rd QUARTER 2015: - ALL MARKETS PROVIDE POSITIVE OPERATING RESULTS - PROFIT BEFORE TAXES BURDENED BY IMPAIRMENT OF IT SYSTEMS (with document)

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Financial Figures/Balance Sheet/Q1-Q3 2015
23.11.2015

- Premiums (excluding single-premium products) show solid increase of
2.5% - Excellent combined ratio of 96.9% - Operating profit of EUR
370.3 million - Profit (before taxes) after impairment at EUR 175.3
million

Vienna Insurance Group continues to focus on developing profitable
lines of business. These mainly include property and casualty (+0.9
percent) and regular-premium life insurance products, which recorded
significant growth of 5.8 percent. The Group continues to exercise
restraint in the single-premium business due to the current interest
rate environment. This led to a total decline of 5.2 percent in life
insurance. In the first nine months, Vienna Insurance Group generated
total premiums of EUR 6.9 billion (-1.8 percent). Without
single-premium products, this represents a solid increase of 2.5
percent.

Once again, all Vienna Insurance Group markets made positive
contributions to the result. The Vienna Insurance Group Remaining
Markets region earned a record result of EUR 48.6 million, an
increase of 10.5 percent.

Vienna Insurance Group further reduced its combined ratio (after
reinsurance) to excellent 96.9 percent.

Vienna Insurance Group held EUR 31.6 billion in investments
(including cash and cash equivalents) as at 30 September 2015. The
Group financial result was EUR 797.3 million (-7.1 percent).

Operating profit was EUR 370.3 million. The decline in the ordinary
financial result due to the ongoing low level of interest rates,
which also made it necessary to form a precaution for personnel
provisions in Austria, as well as the interest expense for the
subordinated bond issued in March 2015 affected the result.

Impairment of IT systems of EUR 195 million

Vienna Insurance Group continuously checks its existing IT systems'
landscape in the course of the regular evaluation of technical
usability and in view of the rapidly changing requirements of the
insurance market as well as the accelerating rate of technological
change. This review was done with external assistance.

The analysis now showed that there is a high probability that certain
IT systems respectively programme sections will no longer be able to
satisfy future technical and business requirements, or no longer
fully satisfy these requirements. The balance sheet items covering
these programmes or programme sections are therefore being written
down by EUR 195 million.

This means that the profit (before taxes) after impairment is EUR
175.3 million.

------ The complete release including tables is available under the
following link: http://resources.euroadhoc.com/us/bBELChiQ ------

Attachments with Announcement:
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http://resources.euroadhoc.com/us/bBELChiQ
http://resources.euroadhoc.com/us/pFWhERgn

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

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

Nina Higatzberger
Leiterin Investor Relations
Tel.: +43 (0)50 350-21920
Fax: +43 (0)50 350 99-21920
E-Mail: nina.higatzberger@vig.com

end of announcement euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/bBELChiQ
http://resources.euroadhoc.com/us/pFWhERgn

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