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BRIEF-Vienna Insurance Group's H1 premiums grow but net profit falls
August 22, 2017 / 6:22 AM / a month ago

BRIEF-Vienna Insurance Group's H1 premiums grow but net profit falls

Aug 22 (Reuters) - Vienna Insurance Group:

* Premiums rise to almost eur 5 billion (+0.9 percent)

* Profit (before taxes) increases to around eur 221 million (+9.6 percent)

* Combined ratio clearly improved to 96.9 percent (-1 percentage point)

* Solvency ratio up to around 225 percent

* Profit (before taxes) was eur 220.5 million, around 10 percent higher than in first half of 2016

* Financial result was eur 488.4 million, a year-on-year increase of around 9 percent

* Improved financial result was primarily due to increased income from full consolidation of non-profit housing societies and large profits realised from sale of shares

* Lower combined ratio primarily due to positive performance achieved in Austria and Poland

* H1 net profit 146.6 million eur, down 4 percent y/y Further company coverage:

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