Vienna Insurance Group AG · VIE:VIG
Vienna Insurance — Shareholder Meeting (May 2013)
51 slides from Vienna Insurance's shareholder meeting presentation, May 3, 2013
Slide 1: There are people behind every number
Geschäftsentwicklung 2010 Vienna Insurance Group There are people behind every number
Slide 2: 22nd Annual General Meeting
22nd Annual General Meeting VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe Vienna, May 3rd 2013
Slide 3: Highlights 2012
Vienna Insurance Group Highlights 2012 Highest profit in the Company‘s history, increase of profit after taxes and minority interests of about 10% Consolidation of market leadership in CEE core markets of about 19% market share Pleasing VIG share performance in 2012: +32% Streamlining of market pres
Slide 4: Awards
Awards Wiener Städtische is No.1 according to a representative survey and associated with values such as security, stability and success Kooperativa Prague in the top 10 of the most admired Czech enterprises InterRisk recognized for the sixth time in a row for being one of the „Large Pearls“ in the
Slide 5: Rating
Rating Standard & Poor’s confirms excellent rating of „A+“ with stable outlook VIG is the best rated company in the ATX Forbes lists VIG as 4th biggest publicly traded austrian company (no. 723 in the world) VIG among the TOP 20 European insurance companies 5
Slide 6: We have an absolute majority of women
Geschäftsentwicklung 2010 Vienna Insurance Group We have an absolute majority of women
Slide 7: Female representation in the VIG
Female representation in the VIG 58% ratio of women in the Group 40% women in senior positions (incl. sales) 20% women on management boards triple the level of the average share of the 61 biggest German insurance companies 33% of new positions on management board were filled by women in 2012 7
Slide 8: You can count on our numbers
Geschäftsentwicklung 2010 Vienna Insurance Group You can count on our numbers
Slide 9: Results of the financial year 2012
Results of the financial year 2012
Slide 10: Year-end result 2012
Vienna Insurance Group Year-end result 2012 VIG continues to grow strongly Record premium volume and result Premium growth to about EUR 9.7 bn (+9.0%) Increase in profit before taxes to EUR 587.4 m. (+5.1%) Profit after taxes and minority interests of EUR 446.2 m. (+9.7%), stronger growth than in pr
Slide 11: VIG – Income statement
VIG – Income statement IFRS in EUR m. 2012 2011 +/- in % Premiums written 9,685.67 8,883.67 +9.0% Net earned premiums 8,996.81 8,122.82 +10.8% Expenses for claims and insurance expenses -7,590.35 -6,535.96 +16.1% Acquisition and administrative expenses -1,814.89 -1,752.65 +3.6% Financial result incl
Slide 12: Premium income
VIG® VIENNA INSURANCE GROUP Premium income
Slide 13: Premiums
Premiums Gross written premiums according to segments, IFRS, in EUR m. Premium increase in all lines of businesses +9.0% 9,685.67 +2.1% +17.2% 8,883.67 4,673.44 4,620.72 4,579.30 3,944.22 +8.7% 391.51 360.15 Property/Casualty Life Health 13
Slide 14: Premiums by region
Premiums Gross written premiums according to regions, IFRS, in EUR m. Record premium volume: growth driver CEE +9.0% CEE +15.0% 8,883.67 9,685.67 +2.1% 4,037.50 4,122.53 -1.6% 1,823.89 +68.9% +13.8% +2.9% -10.9% +35.0% 954.22 975.56 993.67 1,795.58 704.11 857.19 684.26 1,611.74 448.25 503.08 1,341.4
Slide 15: Premiums – over 50% from CEE
Premiums – over 50% from CEE 2012 (2011) % premium share according to % share according to regions* segments CZ 18.6% Property/Casualty Life (20.6%) 48.3% 47.7% SK (51.6%) (44.4%) 7.3% AT (7.7%) CEE 42.7% (45.6%) 54.9% PL (52.0%) 16.7% (10.7%) RO others** 4.6% Health 10.1% (5.7%) 4.0% (9.7%) (4.0%)
Slide 16: VIG: number 1
VIG: number 1 Market analysis of VIG core markets market share in % VIG No.1 18.9% Vienna Insurance Group: further extension of its leading market 11.5% position 9.7% 8.8% Italian competitor Austrian competitor German competitor Source: local market reports, own calculation Core markets: Austria, Bu
Slide 17: Leading market positions in Austria and CEE
Leading market positions in Austria and CEE Leading insurance provider excellent market position in Austria and CEE No. 1 Top 3 Top 5 Top 10 Austria Poland Croatia Hungary Czech Republic Albania Serbia Bosnia Herzegovina Slovakia Bulgaria Ukraine Romania Georgia Macedonia core markets Kernmärkte oth
Slide 18: Country data
VIG® VIENNA INSURANCE GROUP Country data
Slide 19: VIG – Austria
VIG – Austria Biggest Austrian insurance group Difficult environment in life insurance Positive development in property and casualty insurance „Encourage Private Provision – Ensure Future Security“ initiative 19 1919
Slide 20: VIG – Czech Republic
VIG – Czech Republic VIG is market leader in Czech Republic representing 32.3% market share Since mid 2012 VIG is not only market leader in life, but also in non-life insurance business PČS biggest bank insurance on the Czech life insurance market 2020
Slide 21: VIG – Slovakia
VIG – Slovakia Biggest insurance group on Slovakian market ( 33.6%) Market leader in the segments of life insurance and motor vehicle PSLSP with highest market growth 2121
Slide 22: VIG – Poland
VIG – Poland Third market position: Increased market share to 11.0% Strong growth in the segment of life insurance Acquisition of Polish life insurance „Polisa“ 2222
Slide 23: VIG – Romania
VIG – Romania Difficult economic and regulatory conditions particularly influences the motor insurance business No.1 on the overall market as well as in the non-life segment Continuation of the restructuring programme in all VIG companies Merger of Romanian non-life insurance companies „Omniasig“ an
Slide 24: Profit growth s Versicherung Group
Profit growth s Versicherung Group Profit before taxes in EUR m. Annual average profit growth +55% Successful cooperation with Erste Group 24
Slide 25: Combined Ratio
VIG® VIENNA INSURANCE GROUP Combined Ratio
Slide 26: Excellent combined ratio of 96.65%
Excellent combined ratio of 96.65% Net, in % 96,83 96.83 Combined Ratio 96,65 96.65 decrease in combined ratio despite 30.8 30,8 31.0 31,0 high weather related Cost Ratio Kostenquote claims 65.9 65.8 Assumption 2012 average 65,9 65,8 weather event year: Claims Ratio Schadenquote combined ratio 94.7%
Slide 27: Investments
VIG® VIENNA INSURANCE GROUP Investments
Slide 28: Conservative investment strategy
Conservative investment strategy as of 31 December 2012 Total investments EUR 30.24 bn 1.0% 6.0% 7.0% Anleihen Bonds Real estate Immobilien Loans Darlehen 12.0% Deposits and cash Bankguthaben und Kassa Equities and Beteiligungen Aktien und affiliated companies 11.0% 63.0% Alternative Alternativeinve
Slide 29: Solvability ratio more than 250%
Equity Excellent solvability ratio of the Group solvability ratio more than 250% Important for excellent S&P rating “VIG demonstrates a very strong competitive position in Austria and CEE, very strong capitalisation, a strong and stable operating performance and a clear corporate strategy” 29
Slide 30: Profit before taxes
VIG® VIENNA INSURANCE GROUP Profit before taxes
Slide 31: Profit by segment
Profit According to segments, IFRS, in EUR m. Profit after taxes and minority interests Profit after taxes and (+9.7%) grows faster than premium minority interests volume (+9.0%) EUR 446.19 m. (+9.7%) 559.01 271.51 239.81 Property/Casualty Life Health Profit before taxes 31
Slide 32: Profit before taxes by region
Profit before taxes According to regions, IFRS, in EUR m. Strong progress in a challenging environment CEE-growth > +10% +5.1% +1.2% 587.41 +1.2% 559.01 +4.2% 295.27 291.88 194.97 +14.2% +69.0% 187.11 +5.1% 41.57 36.41 39.13 23.15 0.11 56.89 54.12 -12.99 -20.45 -20.8 -20.48 Austria Czech Slovakia Po
Slide 33: Evolution of profit before taxes according to regions
Evolution of profit before taxes according to regions 2012 Over 50% of profit from CEE non CEE 50% 33
Slide 34: Comparison with competitors
Comparison with competitors Trend in profit before taxes, indexed 1,163 1,107 1,071* 1,006 VIG: long-term 301 continuous 223 profit growth 82 Germ. competitor Ital. competitor Austr. competitor Source: local market reports, own calculation 34 * extraordinary earnings resulting from the sales of 2 in
Slide 35: VIG Holding standalone
VIG® VIENNA INSURANCE GROUP VIG Holding standalone
Slide 36: VIG Holding standalone
VIG Holding standalone in EUR m. 2012 2011 +/- in % Premiums written 898.27 818.69 +9.7% direct business 26,505 5,790 +357.8% indirect business 871,766 812,901 +7.2% Technical result 39.04 35.23 +10.8% Financial result according to UGB 220.42 195.69 +12.6% Revaluation of others -8.16 8.80 - PBT acco
Slide 37: Dividend
VIG® VIENNA INSURANCE GROUP Dividend
Slide 38: Dividend
Dividend Recommended increase in dividend Dividend yield of approximately 3% 153.6 140.8 128.0 115.2 1.20 1.10 1.00 0.90 dividend per share in EUR payed dividend in total EUR millions 38
Slide 39: Group Embedded Value
VIG® VIENNA INSURANCE GROUP Group Embedded Value
Slide 40: Group Embedded Value 2012
Group Embedded Value 2012 in EUR m. Embedded value increased once again 5,867.6 5,131.2 Return on Group Embedded Value EUR 736.4 m. (+14.4%) * Restated and adjusted Embedded Value 40
Slide 41: Group Embedded Value 2012 – new business margin
Group Embedded Value 2012 New business margin; in % Excellent new business margin in CEE 5.8 compared to general international level 4.3 Benchmark values: 2.0 CEE 4 – 4.5% Austria/West Europe < 2.0% Austria/Germany 41
Slide 42: Social involvement is more than just a headline for us
Geschäftsentwicklung 2010 Vienna Insurance Group Social involvement is more than just a headline for us
Slide 43: High social, environmental and cultural responsibility
High social, environmental and cultural responsibility
Slide 44: Social awareness
Social awareness Social Active Day 2012 Extended by 8 to 17 countries Participation rate „Social Active Day“ 4.195 employees 19 man-years of volunteer time around 1/3 of all employess in administration across the Group Voluntary activities of employees care of children (with special needs, learning
Slide 45: High social responsibility
High social responsibility Exemplary list, company‘s social commitments and sponsoring VIG Kids Camp Around 500 children of VIG employees from 19 countries between 9 and 13 years of age have participated The motto „I‘m painting my summer“ The participants spent 14 days in three different summer camp
Slide 46: Environmental Awareness
Environmental Awareness VIG Czech Republic / Austria New headquarter for Kooperativa Kooperativa and ČPP and ČPP under one roof - with 87 points out of a total of 110 the building received the LEED*-certification (platinum) and is therefore leader in Europe - awarded for „Best Office Building 2011“
Slide 47: Cultural Engagements
Cultural Engagements Exemplary list Ringturm wrapping Architecture in the Ringturm Gustav Mahler Youth Orchestra Essl Art Award CEE Český Krumlov (Musicfestival) Danubiana 47
Slide 48: Recruiting Events and Cooperation
Recruiting Events and Cooperation VIG supports students Extensive support for universities and students Karl Seitz Foundation Foundation Vienna University of Technology and Vienna University for Economics and Business University Bratislava/Brno IEDC – Bled School of Management VIG awarded five femal
Slide 49: Outlook 2013
Outlook 2013 Consequent continuation of success strategy in the recent years with focus on: Growth above market Continuous increase in profitability Taking into account the economic environment to keep volatility to a minimum 49
Slide 50: Many thanks for your attention!
Many thanks for your attention!
Slide 51: Geschäftsentwicklung 2010 Vienna Insurance Group
Geschäftsentwicklung 2010 Vienna Insurance Group
Vienna Insurance Group — Shareholder Meeting (May 2013) on 6ix