Vienna Insurance Group AG · VIE:VIG
Vienna Insurance — Shareholder Meeting (May 2012)
50 slides from Vienna Insurance's shareholder meeting presentation, May 4, 2012
Slide 1: Geschäftsentwicklung 2010 Vienna Insurance Group
Geschäftsentwicklung 2010 Vienna Insurance Group
Slide 2: 21st Annual General Meeting
21st Annual General Meeting VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe Vienna, May 4th 2012
Slide 3: Business development 2012
Business development 2012 Vienna Insurance Group
Slide 4: Standard & Poor's Rating 2011
Standard & Poor‘s Rating 2011 Standard & Poor‘s confirmed VIG rating A+ with stable outlook previous ACTUAL change A+ A+ VIG with stable outlook with stable outlook AA AA Allianz Group Konzern with stable outlook with negative outlook A+ A Generali Group Konzern with stable outlook with stable outlo
Slide 5: Excellent result 2011
Excellent result 2011 Excellent development in difficult economic environment Best result in the Group‘s history EUR 8.9 bn. premium income (+3.4%) PBT: Excellent increase of 10.1% to EUR 559.01 mn. (yoy) Combined ratio at 96.8% (-1.6%p)
Slide 6: Further milestones 2011
Further milestones 2011 VIG is the best-rated company in the ATX Continuation of CEE strategy: Market entry in Bosnia-Herzogovina (25th market of VIG) Acquisition of majority share of Jahorina Expansion of activities in Albania and Poland - Acquisition of Intersig Sh.a. - Acquisition of Polisa* High
Slide 7: Who puts the facts on the table for me?
WHO PUTS THE FACTS ON THE TABLE FOR ME?
Slide 8: Premium income
VIG® VIENNA INSURANCE GROUP Premium income
Slide 9: Premium income by lines of business
Premium income Premiums written by lines of business, IFRS Vienna Insurance Group with solid growth in EUR million 1-12 2011 1-12 2010 +/- in % Property/Casualty 4,579.30 4,350.04 5.3% Life 3,944.22 3,904.81 1.0% Health 360.15 338.16 6.5% Vienna Insurance Group 8,883.67 8,593.01 3.4%
Slide 10: Premium income – life line (total)
Premium income – life line (total) Premiums written, IFRS Decline in single premiums in Austria Positive development for current premiums in EUR million 1-12 2011 1-12 2010 +/- in % Life 3,944.22 3,904.81 1.0% thereof* current premiums 2,289.98 2,217.27 3.3% single premiums 1,641.54 1,673.35 -1.9% A
Slide 11: s Versicherung Group - Life
s Versicherung Group - Life Written premiums 2009 - 2011; in EUR million CEE is growth driver of s Versicherung Group* CEE approx. 52% 624.90 624,90 534.80 534,80 411.13 411,13 2009 2010 2011 * without BCR Sach
Slide 12: Premium income by region
Premium income Premiums written by region, IFRS Positive development of the CEE region in EUR million 1-12 2011 1-12 2010 +/- in % Austria 4,042.22 4,041.14 0.0% Czech Republic 1,848.86 1,756.54 5.3% Slovakia 678.83 647.87 4.8% Poland 954.07 747.69 27.6% Romania 502.87 528.05 -4.8% Remaining markets
Slide 13: Premium income 2009 - 2011
Premium income 2009 - 2011 in EUR million CEE is growth driver 8,593.01 8.593,01 8.883,67 8,883.67 8.019,28 8,019.28 VIG total 4.295,62 4.625,72 4,625.72 3.933,15 3,933.15 4,295.62 CEE 2009 2010 2011 CAGR* VIG: 5.3% CAGR* CEE: 8.4% * CAGR (Compound Annual Growth Rate)
Slide 14: Premium income share by region and line
Premium income 2011 (2010) CEE share of total premiums continues to grow % share by region % share by line of business Non-CEE Property/Casualty 47.9% 51.5% Life (50.0%) (50.6%) 44.4% (45.5%) CEE Health 52.1% (50.0%) 4.1% (3.9%)
Slide 15: Country data
VIG® VIENNA INSURANCE GROUP Country data
Slide 16: VIG - Austria
VIG - Austria 1-12 2011 Life insurance marked by significant drop in single premiums due to extension of minimum binding period PBT development 2009 – 2011 in EUR million approx. 18% 247,49 250.89 250,89 291,58 291.58 247.49 2009 2010 2011
Slide 17: VIG – Czech Republic
VIG – Czech Republic 1-12 2011 Excellent performance of life line (+12,9%) especially in the banking channel Approx 21% of group premium income and approx. 34% of group PBT are earned in Czech Republic PBT development 2009 – 2011 in EUR million approx. 54% 189.72 189,72 167.33 167,33 122,91 122.91 2
Slide 18: VIG – Slovakia
VIG – Slovakia 1-12 2011 Leading market position furhter strengthened, increase of VIG market share of 0.8%p to approx. 33% Strong development of Poistovna Slovenskej Sporitelne (+16.7%) Nearly every 2nd MTPL insured at VIG Slovakia PBT development 2009 – 2011 in EUR million approx. 148% 57,23 57.23
Slide 19: VIG – Poland
VIG – Poland 1-12 2011 Strong growth in non-life and life line Number 3 on the non-life market PBT development 2009 – 2011 in EUR million approx. 38% 37.77 37,77 27,42 27.42 24,18 24.18 2009 2010 2011
Slide 20: VIG – Romania
VIG – Romania 1-12 2011 Difficult market conditions in the non-life insurance influenced the overall outcome in Romania Restructuring of the portfolio PBT development 2009 – 2011 in EUR million 24.19 24,19 28.51 28,51 2009 2010 2011 -12,82 -12.82
Slide 21: Market growth vs. VIG growth
Market growth vs. VIG growth Premium income, 2011, local currencies VIG is growing faster than market 31.7% 4,7% 4.7% 5.5% 5,5% 2,9% 2.9% 4.0% 4,0% Romania 2,1% 0.8% 2.1% 0,8% -0,7% -0.7% -2.2% -2,2% 1 2 3 4 Czech Republic Slovakia Poland -4,4% -4.4% -7,6% -8.8% -7.6% -8,8% Market growth Market grow
Slide 22: Top market positions in Austria and CEE
Top market positions in Austria and CEE Top 3 Top 5 Top 10 Austria Croatia Hungary Czech Bosnia- Macedonia Republic Herzegovina Slovakia Serbia Poland1 Ukraine Romania Albania Bulgaria Georgia core markets 1 in Non-Life business further VIG markets
Slide 23: Who takes over my risks without being risky?
WHO TAKES OVER MY RISKS WITHOUT = BEING RISKY? rtrd
Slide 24: Investments
VIG® VIENNA INSURANCE GROUP Investments
Slide 25: Conservative investment strategy
Conservative investment strategy as of December 31, 2011 0.6% 0,6% 5,3% 5.3% 5,9% 5.9% Bonds Real estate 12.2% 12,2% Loans Deposits and cash Equities and affiliated companies 60,0% 60.0% 16,0% 16.0% Alternative investments EUR 28.65 bn. without unit- and index-linked life insurance Roundings
Slide 26: Bonds split – government and government guaranteed bonds
Bonds split – government and government guaranteed bonds as of December 31st 2011 approx. 20% approx. 27% 27% Czech Republic Austria Poland approx. 6% Slovakia Supranational approx. 6% Germany Others approx. 20% 20% approx. 9% approx. 12% approx. EUR 8.86 bn. excl. unit- and index-linked life insura
Slide 27: PIIGS government bonds
PIIGS Government bonds; as of December 31, 2011 in EUR million Portugal - Ireland 52.5 Italy 13.5 Greece 8.9 Spain 8.0 Vienna Insurance Group 82.9 approx. 0.3% share of total assets
Slide 28: Profit before tax (PBT)
VIG® VIENNA INSURANCE GROUP Profit before tax (PBT)
Slide 29: Profit before tax by line of business
Profit before tax (PBT) By line of business, IFRS “Promised – Kept“ in EUR million 1-12 2011 1-12 2010 +/- in % Property/Casualty 271.51 222.72 21.9% Life 239.81 248.46 -3.5% Health 47.69 36.61 30.3% Vienna Insurance Group 559.01 507.79 10.1%
Slide 30: Profit before tax by regions
Profit before tax (PBT) By regions, IFRS in EUR million 1-12 2011 1-12 2010 +/- in % Austria 291.58 250.88 16.2% Czech Republic 189.72 167.33 13.4% Slovakia 57.23 37.32 53.3% Poland 37.77 24.19 56.1% Romania -12.83 28.51 - Remaining markets* -4.46 -0.44 - Vienna Insurance Group 559.01 507.79 10.1% C
Slide 31: Profit before tax (PBT) 2009 - 2011
Profit before tax (PBT) 2009 - 2011 in EUR million Vienna Insurance Group successful through the crisis 559,01 559.01 507,79 507.79 441,25 441.25 281,45 VIG total 245,08 245.08 281.45 173,78 173.78 CEE 2009 2010 2011 CAGR VIG: 12.6% CAGR CEE: 27.3%
Slide 32: PBT share by region and line of business
Profit before tax (PBT) 2011 (2010) % share by region % share by line of business Non-CEE Property/Casualty 49.7% 48.6% (51.7%) (43.9%) Life 42.9% (48.9%) CEE 50.3% Health (48.3%) 8.5% (7.2%)
Slide 33: s Versicherung Group - Life PBT
s Versicherung Group - Life Profit before tax (PBT); in EUR million Further clear profit growth of the s Versicherung Group* AUSTRIA CEE approx. 400% approx. 124% 91,26 91.26 65.01 65,01 44,62 44.62 31,45 31.45 18,29 18.29 19,94 19.94 2009 2010 2011 2009 2010 2011 * without BCR Sach
Slide 34: Indicators
VIG® VIENNA INSURANCE GROUP Indicators
Slide 35: Comparison – Return on Premium (RoP)
Comparison – Return on Premium (RoP) in % VIG outperforms competitors 5,0% 5.0% 4,0% 4.0% 3.8% 3,8% 1.7% 1,7% Uniqa VIG Allianz Talanx Generali Uniqa -4,1% -4.1% Sources: Annual company reports 2011 35
Slide 36: Comparison – Equity ratio
Comparison – Equity ratio* in % Good equity ratio of VIG 12,7% 12.7% 7.6% 7,6% 7.4% 7,4% 4.3% 4,3% 3.8% 3,8% VIG Talanx Allianz Generali Uniqa Sources: Annual company reports 2011 * according to the simplified calculation method 36
Slide 37: Equity: solvability ratio 190%
Equity Excellent capitalization of the Group Almost twice as much equity as required solvability ratio 190% 37
Slide 38: Group Embedded Value
VIG® VIENNA INSURANCE GROUP Group Embedded Value
Slide 39: Group Embedded Value 2011
Group Embedded Value 2011 in EUR Embedded Value again increased 5,28 bn. Return on 4,97 bn. Group Embedded Value EUR 311 mn. (+6.3%) 2010* 2011 * Adjusted Embedded Value
Slide 40: Financial Statements VIG Holding (standalone results)
Financial Statements VIG Holding (standalone results)
Slide 41: Financial Statements VIG Holding (standalone results)
Financial Statements VIG Holding (standalone results) UGB in EUR million 2011 2010 +/- in % Premiums written 818.69 536.85 52.5% Underwriting result 35.23 3.79 829.6% Financial results UGB 204.49 140.82 45.2% PBT UGB 239.72 144.61 65.8% 41
Slide 42: Dividend
VIG® VIENNA INSURANCE GROUP Dividend
Slide 43: Dividend: increase suggested
Dividend Increase of dividend suggested* Dividend yield 3.6% 140.80 140,80 128.00 128,00 115.20 115,20 Dividend in EUR 1,00 1.00 1.10 1,10 0,90 0.90 Amount paid in EUR million 2009 2010 2011* * subject to the approval of the corporate bodies 43
Slide 44: High cultural and social responsibility
High cultural and social responsibility
Slide 45: High cultural and social responsibility
High cultural and social responsibility Examples Social responsibility Cultural responsibility Social Active Day Maecenas 2011 for best long-term sponsorship Eastern Europe campaign of Caritas Architecture in the Ringturm Bátor Tábor – Camp for ill children in CEE Ringturm veiling (Tower of Arts) Zw
Slide 46: Current developments
VIG” VIENNA INSURANCE GROUP Current developments
Slide 47: Outlook 2012
Outlook 2012 Further promotion of organic growth Continuous increase in profitability Taking into account the economic environment to keep volatility to a minimum
Slide 48: Thank you for your attention!
Thank you for your attention!
Slide 49: Who tells me today what will matter tomorrow?
| WHOTELLS , — ME TODAY | jy WHAT WILL | vic MATTER | | TOMORROW?
Slide 50: Welcome to the family of Vienna Insurance Group AG
Welcome to the family of VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe VIG" VIENNA INSURANCE GROUP Wiener Versicherung Gruppe WIENERGE STADTISCHE ‘VIENNA INSURANCE GROUP e@llonau ‘VIENNA INSURANCE GROUP ‘S-VERSICHERUNG \VIENNAINSURANCE GROUP ITALY sranch WIENER vies STADTISCHE e@llionav ‘VIEN
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