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-Vienna Insurance reports lower profit than expected.

Global Banking News-January 25, 2013--Vienna Insurance reports lower profit than expected(C)2013 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 25 January 2013

Vienna Insurance Group AG (VIG), considered to be the biggest insurer in eastern Europe, has missed analysts' profit estimates.

The firm reported lower profits because of payments for hail, rain and storm damage that hurt fourth-quarter earnings and growth outside Poland. The firm said that its pre-tax profit increased by 5 percent, to about EUR585m in 2012.

Fourth-quarter profit dropped by 2 percent, to about EUR142m.

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Publication:Global Banking News (GBN)
Date:Jan 25, 2013
Words:112
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