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Vienna Insurance says will achieve full-year target

Fri Sep 26, 2008 2:47am EDT

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VIENNA, Sept 26 (Reuters) - The financial crisis has hit Vienna Insurance Group's (VIGR.VI) reserves but it should still achieve its full-year profit target, its chief executive was quoted as telling an Austrian newspaper on Friday.

"It is clear that the reserves that we have built up have been reduced," Guenter Geyer told Wirtschaftsblatt.

"But at the moment it looks like we will achieve our profit target for this year," he said.

He added that the company is thinking about full or partial acquisitions in Hungary and Turkey and that the financial crisis has not hurt the company's buying strategy. (Reporting by Sylvia Westall; Editing by Greg Mahlich)



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