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Austrian VIG raises premiums, profits in Q1 2011.

(ADPnews) - May 17, 2011 - Vienna Insurance Group (WBAG:VIG), or VIG, said today its consolidated premiums written climbed 2.9% on the year to EUR 2.6 billion (USD 3.68bn) in the first quarter of 2011.

The company's pre-tax profit grew 7% in annual comparison to EUR 142.8 million, while net profit after minorities went up by 7.8% to EUR 109.1 million.

VIG confirmed its earlier guidance for full 2011, projecting 10% pre-tax profit growth and premiums rising in the low percentage range, given that there is no significant worsening of economic and legal framework and that damages from natural disasters do not increase significantly.

(EUR 1.0 = USD 1.415)
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Publication:ADP News Austria
Article Type:Financial report
Date:May 17, 2011
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