VIENNA (Thomson Financial) - Wiener Staedtische AG (Vienna Insurance Group) said that its first-quarter pretax profit rose 38.2 pct year-on-year to 100.73 mln eur, while consolidated premiums written crossed the 2 bln eur mark for the first time on the back of strong premium growth in Central and Eastern Europe (CEE).
Consolidated premiums written rose 15.2 pct year-on-year to 2.02 bln eur from 1.75 bln eur on the back of a 37.3 pct gain in premiums written in CEE countries to 751.3 mln eur.
The group said it has raised its pretax profit target for 2007 to 410 mln eur and introduced a new pretax profit target for 2008 of 470-480 mln eur. peter.klopf@thomson.com pkl/jsa COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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