Annual General Meeting 2010 made the following important decisions
• New company structure approved
• Dividends of EUR 0.90 per share
The 19th Annual General Meeting of Vienna Insurance Group Wiener Städtische Versicherung AG was held on 29 June 2010 in the Wiener Stadthalle. All resolutions at the Annual General Meeting were approved by the shareholders with a clear majority. The Annual General Meeting decided to spin off the entire insurance division as a 100 percent subsidiary, which will be called the “Wiener Städtische Versicherung AG Vienna Insurance Group“.
The listed holding of the Group will bear the name “VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe” and will have significant transnational management responsibilities. This change will provide the Vienna Insurance Group with a modern, future-orientated management structure appropriate to the requirements of an international group. All preparations for the implementation of the resolutions have already been made by the management, guaranteeing a smooth transition.
As the largest individual company of the Group and leading insurance company in Austria, the Wiener Städtische Versicherung AG Vienna Insurance Group will conduct its operational insurance business.
The Vienna Insurance Group continued its stable development in 2009. Significantly influenced by the business development in CEE, the Group achieved profits (before tax) of over EUR 441 million and premiums of over EUR 8 billion. The Annual General Meeting approved the suggestion of management to pay out a dividend of EUR 0.90 per share for the previous financial year 2009. The dividend payment date and ex-day is 5 July 2010.
The documents relating to the Annual General Meeting can be found online for download at http://www.vig.com/en/investor-relations/events/annual-general-meeting.html.
The remarks made by CEO Günter Geyer about the consolidated financial statement for 2009 at today's Annual General Meeting were recorded and will be available online after around 5 pm at http://www.vig.com/en/investor-relations/events/annual-general-meeting.html.
The listed Vienna Insurance Group (VIG) is one of the leading insurance groups in CEE headquartered in Vienna. Outside of its home base in Austria, Vienna Insurance Group is also active, through subsidiaries and insurance holdings, in Albania, Bulgaria, Germany, Estonia, Georgia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, Hungary, Ukraine and Belarus. It also has branches in Italy and Slovenia.
On the Austrian market, the Vienna Insurance Group (VIG) positions itself with Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung.