18 April 2012

Company presentation

Vienna Insurance Group

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Vienna Insurance Group at one glance

active in 25 countries of Europe

operates about 50 insurance companies

Rating: A+ with a stable outlook (Standard and Poor's)

listed on the stock exchange in Vienna and Prague

approx. 25,000 employees working for VIG groupwide

headquartered in Vienna, Ringturm

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About 190 years in Austria and over 20 years in CEE

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Two important steps in corporate history:

Czechoslovakia

Success beyond borders

Austria

1824:Foundation of the first insurer that is part of today's Group

1990:VIG was one the first Western European insurance companies to venture into Central and Eastern Europe 1

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1

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Market entries

Focus on Central and Eastern Europe

Germany, Czech Republic,Slovakia

Hungary, Poland, Liechtenstein,Croatia, Italy

Romania, Bulgaria, Serbia Belarus

Slovenia, Ukraine

Georgia, Russia

Albania, Macedonia, Turkey

Baltic States, Acquisition of Erste Group insurance operations

Montenegro

Bosnia and Herzegovina

1996-99

2001/02

2004

2006

2007

1990

2008

2010

2011

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Core markets Further VIG markets

Top market positions in Austria and CEE

Top 1 Top 5 Top 10

Austria Poland Bosnia and Herzegovina

Czech Republic

Serbia Hungary

Slovakia Croatia

Romania Ukraine

BulgariaMacedonia

Georgia Albania

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Business objectives

The VIG is aimed to achieve long-term continuous growth in premiums and earnings

Objectives of the Vienna Insurance GroupObjectives of the Vienna Insurance Group

Keeping the top position in Austria

Steady expansion of insurance activities in CEE

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Management principles

The five cornerstones of corporate strategy

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Long-term growth potential in CEE

Insurance density 2010 in EUR

Insurance density in the VIG core markets excl. Austria1 (~ EUR 207) far below the Western European level

Huge convergence potential of the CEE-countries in the life and non-life segment

Growth rates of insurance markets in CEE are significantly higher than those in Western Europe

Life Non-life

Source: In-house calculations based on publications by national insurance supervisory authorities and associations, the IMF and Swiss Re (Sigma)1 weighted average: Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Ukraine

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Multi-channel distribution

The variety of distribution channels ensures optimum access to customers in every market.

Established channels of distribution are the key for building the Group's position.

The importance of the individual sales channels varies from company to company, depending upon the country’s legal framework as well as the level of development of its insurance sector and the specific business model

Bancassurance partner: Erste Group

Strong customer orientation

Effective distribution with multiple distribution channels

Salaried field staff and exclusive

agents

Non-exclusive agents

Brokers

Others (car dealers, direct

sales,…)

Bank distribution

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local brand = first name(individuality, local identity)

It helps to maintain the loyalty and commitment of local employees and managers.

Allows established, well known brands that already enjoy good customer recognition to be retained.

Established distribution relationships are also easier to continue.

…significantly differentiates VIG from other market participants

Vienna Insurance Group = family name(security, strength, internationality)

The multi-brand policy…

MANY BRANDS ONE GROUP

Group result 2011

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Development 2011

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Excellent development in difficult economic environment

Best result in company history

EUR 8.9 billion premium income (+3.4%) despite fluctuation in CEE-currencies

PBT: Excellent increase of 10.1% to EUR 559.01 million (yoy)

Combined Ratio at 96.8% (-1.6%p)

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Business development 2007-2011

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IFRS, in EUR million

Premiums written Profit before taxes

+10% yoy

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Premium income

Vienna Insurance Group with solid growth

Premiums written by lines of business, IFRS

in EUR million 2011 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%

Thank you for your attention!

BACK-UP

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GeneralSecretariat

Group-Controlling

Internal Audit

InvestorRelations

Enterprise RiskManagement (Solvency II)

Actuarial Department

Country responsibilities

* Tasks performed by order of the principal shareholder Wiener Städtische Wechselseitige (Mr. Geyer / Mr. Fink); Responsible VIG: Mr. Kosyna

- Management of the VIG-Group

- Strategic questions- Public relations- Marketing / Sponsoring*- Law- Human resources

- International corporate and large customer business

- Vienna International Underwriters (VIU)

- Reinsurance

- Performance management personal insurance

- Asset management- Asset risk

management- Subsidiaries

department- Finance and

accounting

- Performance management motor vehicle insurance

- Project Internal capital model (Project Solvency II)

- Cost structure of the Group

- VIG RE

- Group IT / Back office

- SAP Smile Solutions

Organisational structure (status as of April 2012)

Managing Board

Members of the Extended Executive Board(Advisory function):

- Rudolf Ertl- Karl Fink- Hans Raumauf

Deputy members of the Managing Board:

- Martin Diviš- Roland Gröll- Judit Havasi

General Manager Günter Geyer

Deputy General ManagerPeter Hagen

Member of the Managing BoardFranz Fuchs

Member of the Managing BoardPeter Höfinger

Member of the Managing BoardFranz Kosyna

Member of the Managing Board, CFOMartin Simhandl

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Positive development of the CEE region

Premium income

Premiums written by region, IFRS

* Remaining markets include: Albania (incl. Kosovo), Baltic States, Bulgaria, Croatia, Georgia, Germany, Hungary, Liechtenstein, Macedonia, Serbia, Turkey and Ukraine

in EUR million 2011 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* 856.82 871.72 -1.7%

Vienna Insurance Group 8,883.67 8,593.01 3.4%

CEE 4,625.72 4,295.62 7.7%

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Premium income

% share by region % share by lines of business

2011 (2010)

Figures for 2010 in brackets

Non-CEE47.9%(50.0%)

CEE52.1%(50.0%)

Property/Casualty51.5%(50.6%)

Life44.4%(45.5%)

Health4.1%(3.9%)