Vienna Insurance Group AG (OTCPK:VNRFY)
$ 5.81 0 (0%) Market Cap: 3.72 Bil Enterprise Value: 3.73 Bil PE Ratio: 6.91 PB Ratio: 0.64 GF Score: 82/100
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Q1 2020 Vienna Insurance Group AG Wiener Versicherung Gruppe Earnings Call Transcript

May 20, 2020 / 01:00PM GMT
Release Date Price: $4.04 (-1.40%)
Operator

Ladies and gentlemen, thank you for standing by. My name is Emma, your Chorus Call operator. Welcome, and thanks for joining the Vienna Insurance Group conference call. (Operator Instructions)

I would now like to turn the conference over to Liane Hirner, CFO. Please go ahead.

Liane Hirner
Vienna Insurance Group AG - Member of the Managing Board & CFO

Thank you, operator, and a very warm welcome to today's conference call. It's my pleasure to present to you the expected solid first quarter results with premium and net profit growth, as already mentioned in our ad hoc release about a month ago. I will start with a short overview based on the distributed presentation, and my Board member colleague, Peter Höfinger, will join me for the Q&A session afterwards.

On Slide 4, the headline figures showed sound performance of our operating business with only minor impacts following the COVID-19 pandemic in the first quarter. Gross written premiums increased by 7.2% to EUR 3.1 billion, with premium growth in CEE reaching 9.4%. Profit before

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