Geschäftsentwicklung 2010 Group 21 st Annual General Meeting

VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe

Vienna, May 4 th 2012 Business development 2012 Vienna Insurance Group Standard & Poor‘s Rating 2011

Standard & Poor‘s confirmed VIG rating A+ with stable outlook

previous ACTUAL change A+ A+ VIG  with stable outlook with stable outlook AA AA GroupKonzern with stable outlook with negative outlook  A+ A Generali GroupKonzern  with stable outlook with stable outlook A- BBB+ Generali Holding ViennaWien with negative outlook with stable outlook  A A- Uniqa  with negative outlook with stable outlook Excellent result 2011

Excellent development in difficult economic environment Best result in the Group‘s history

 EUR 8.9 bn. premium income (+3.4%)  PBT: Excellent increase of 10.1% to EUR 559.01 mn. (yoy)  Combined ratio at 96.8% (-1.6%p) Further milestones 2011

 VIG is the best-rated company in the ATX Continuation of CEE strategy:  Market entry in Bosnia-Herzogovina (25 th market of VIG) Acquisition of majority share of Jahorina  Expansion of activities in and - Acquisition of Intersig Sh.a. - Acquisition of Polisa*  High cultural and social responsibility of the Group - Introduction of Social Active Day

*Subject to regulatory approvals

Premium income Premium income

Premiums written by lines of business, IFRS

Vienna Insurance Group with solid growth

in EUR million 1-12 2011 1-12 2010 +/- in %

Property/Casualty 4,579.30 4,350.04 5.3%

Life 3,944.22 3,904.81 1.0%

Health 360.15 338.16 6.5% Vienna Insurance Group 8,883.67 8,593.01 3.4% Premium income – life line (total)

Premiums written, IFRS

Decline in single premiums in Positive development for current premiums

in EUR million 1-12 2011 1-12 2010 +/- in %

Life 3,944.22 3,904.81 1.0%

thereof*

current premiums 2,289.98 2,217.27 3.3%

single premiums 1,641.54 1,673.35 -1.9%

Austria 1,940.76 2,146.69 -9.6% CEE 1,863.03 1,575.02 18.3%

* direct business s Versicherung Group - Life

Written premiums 2009 - 2011; in EUR million

CEE is growth driver of s Versicherung Group*

CEE

approx. 52%

624,90624.90 534,80534.80 411,13411.13

2009 2010 2011

* without BCR Sach Premium income

Premiums written by region, IFRS

Positive development of the CEE region

in EUR million 1-12 2011 1-12 2010 +/- in %

Austria 4,042.22 4,041.14 0.0% 1,848.86 1,756.54 5.3% 678.83 647.87 4.8% Poland 954.07 747.69 27.6% 502.87 528.05 -4.8%

Remaining markets* 856.82 871.72 -1.7%

Vienna Insurance Group 8,883.67 8,593.01 3.4%

CEE 4,625.72 4,295.62 7.7%

*Remaining markets include: Albania (incl. Kosovo), Baltics, , , , , , , Macedonia, , and Premium income 2009 - 2011 in EUR million

CEE is growth driver

8.593,018,593.01 8.883,678,883.67 8.019,288,019.28

VIG total 4.295,62 4.625,724,625.72 3.933,153,933.15 4,295.62 CEE

2009 2010 2011

CAGR* VIG: 5.3% CAGR* CEE: 8.4%

* CAGR (Compound Annual Growth Rate) Premium income

2011 (2010)

CEE share of total premiums continues to grow

% share by region % share by line of business

Non-CEE Property/Casualty 47.9% 51.5% Life (50.0%) (50.6%) 44.4% (45.5%)

CEE Health 52.1% (50.0%) 4.1% (3.9%) Country data VIG - Austria

1-12 2011

 Life insurance marked by significant drop in single premiums due to extension of minimum binding period

PBT development 2009 – 2011 in EUR million

approx. 18%

291,58291.58 247,49247.49 250,89250.89

2009 2010 2011 VIG – Czech Republic

1-12 2011

 Excellent performance of life line (+12,9%) especially in the banking channel  Approx 21% of group premium income and approx. 34% of group PBT are earned in Czech Republic

PBT development 2009 – 2011 in EUR million

approx. 54%

189.72 167,33167.33 189,72 122,91122.91

2009 2010 2011 VIG – Slovakia

1-12 2011

 Leading market position furhter strengthened, increase of VIG market share of 0.8%p to approx. 33%  Strong development of Poistovna Slovenskej Sporitelne (+16.7%)  Nearly every 2nd MTPL insured at VIG Slovakia

PBT development 2009 – 2011 in EUR million

approx. 148%

57,2357.23 37,3237.32 23,0123.01

2009 2010 2011 VIG – Poland

1-12 2011

 Strong growth in non-life and life line  Number 3 on the non-life market

PBT development 2009 – 2011 in EUR million

approx. 38%

37,7737.77 27,4227.42 24,1824.18

2009 2010 2011 VIG – Romania

1-12 2011

 Difficult market conditions in the non-life insurance influenced the overall outcome in Romania  Restructuring of the portfolio

PBT development 2009 – 2011 in EUR million

24,1924.19 28,5128.51

2009 2010 2011 -12.82-12,82 Market growth vs. VIG growth

Premium income, 2011, local currencies

VIG is growing faster than market

31.7%

5.5%5,5% 4,7%4.7% 4.0%4,0% Romania 2,9%2.9% 2,1% 2.1% 0.8%0,8%

-0.7%-0,7% -2,2%-2.2%1 2 3 4 Czech Republic Slovakia Poland -4.4%-4,4% -7,6% -7.6% -8.8%-8,8% Market growth Market growth WITHOUT VIG VIG growth

Quelle: National insurance authorities Top market positions in Austria and CEE

Top 3 Top 5 Top 10

Austria Croatia Hungary

Czech Bosnia- Macedonia Republic Herzegovina

Slovakia Serbia

Poland 1 Ukraine

Romania

Albania

Bulgaria

Georgia

core markets further VIG markets 1 in Non-Life business

Investments Conservative investment strategy as of December 31, 2011

0,6%0.6% 5.3%5,3% 5.9%5,9% Bonds

Real estate 12.2%12,2% Loans

Deposits and cash

Equities and affiliated companies 60,0%60.0% 16.0%16,0% Alternative investments

EUR 28.65 bn. without unit- and index-linked life insurance

Roundings Bonds split – government and government guaranteed bonds as of December 31 st 2011

approx. 20%

27%approx. 27% Czech Republic Austria Poland approx. 6% Slovakia Supranational

approx. 6% Germany Others 20%approx. 20% approx. 9% approx. 12%

approx. EUR 8.86 bn.

excl. unit- and index-linked life insurance PIIGS

Government bonds; as of December 31, 2011

in EUR million

Portugal -

Ireland 52.5

Italy 13.5

Greece 8.9

Spain 8.0 Vienna Insurance Group 82.9

approx. 0.3% share of total assets Profit before tax (PBT) Profit before tax (PBT)

By line of business, IFRS

“Promised – Kept“

in EUR million 1-12 2011 1-12 2010 +/- in % Property/Casualty 271.51 222.72 21.9%

Life 239.81 248.46 -3.5%

Health 47.69 36.61 30.3%

Vienna Insurance Group 559.01 507.79 10.1% Profit before tax (PBT)

By regions, IFRS

in EUR million 1-12 2011 1-12 2010 +/- in %

Austria 291.58 250.88 16.2% Czech Republic 189.72 167.33 13.4% Slovakia 57.23 37.32 53.3% Poland 37.77 24.19 56.1% Romania -12.83 28.51 - Remaining markets* -4.46 -0.44 -

Vienna Insurance Group 559.01 507.79 10.1%

CEE 281.45 245.08 14.8%

*including amortised insurance portfolios Profit before tax (PBT) 2009 - 2011 in EUR million

Vienna Insurance Group successful through the crisis

559,01559.01 507,79507.79 441,25441.25 281,45 VIG total 245,08245.08 281.45 173,78173.78 CEE

2009 2010 2011

CAGR VIG: 12.6% CAGR CEE: 27.3% Profit before tax (PBT)

2011 (2010)

% share by region % share by line of business

Non-CEE Property/Casualty 49.7% 48.6% (51.7%) (43.9%) Life 42.9% (48.9%)

CEE 50.3% Health (48.3%) 8.5% (7.2%) s Versicherung Group - Life

Profit before tax (PBT); in EUR million

Further clear profit growth of the s Versicherung Group* AUSTRIA CEE

approx. 400% approx. 124%

91.2691,26 65,0165.01 44.6244,62 31,4531.45 18.2918,29 19,9419.94

2009 2010 2011 2009 2010 2011

* without BCR Sach Indicators Comparison – Return on Premium (RoP) in %

VIG outperforms competitors

5,0%5.0% 4,0%4.0% 3,8%3.8%

1,7%1.7% Uniqa

VIG Allianz Talanx Generali Uniqa

-4.1%-4,1%

Sources: Annual company reports 2011

35 Comparison – Equity ratio* in %

Good equity ratio of VIG

12.7%12,7%

7,6%7.6% 7,4%7.4% 4.3%4,3% 3.8%3,8%

VIG Talanx Allianz Generali Uniqa

Sources: Annual company reports 2011 * according to the simplified calculation method

36 Equity

Excellent capitalization of the Group

Almost twice as much equity as required  solvability ratio 190%

37 Group Embedded Value Group Embedded Value 2011 in EUR

Embedded Value again increased

5,28 bn. Return on 4,97 bn. Group Embedded Value EUR 311 mn. (+6.3%) 2010* 2011

* Adjusted Embedded Value Financial Statements VIG Holding (standalone results) Financial Statements VIG Holding (standalone results)

UGB

in EUR million 2011 2010 +/- in %

Premiums written 818.69 536.85 52.5% Underwriting result 35.23 3.79 829.6% Financial results UGB 204.49 140.82 45.2%

PBT UGB 239.72 144.61 65.8%

41 Dividend Dividend

 Increase of dividend suggested*  Dividend yield 3.6%

140.80140,80 128,00128.00 115,20115.20 Dividend in EUR

1,00 1,101.10 0.900,90 1.00 Amount paid in EUR million

2009 2010 2011*

* subject to the approval of the corporate bodies

43 High cultural and social responsibility High cultural and social responsibility

Examples

Social responsibility Cultural responsibility

 Social Active Day  Maecenas 2011 for best long-term sponsorship  Eastern Europe campaign of Caritas  Architecture in the Ringturm  Bátor Tábor – Camp for ill children in CEE  Ringturm veiling (Tower of Arts)  Zweite Sparkasse  Essl Art Award CEE

These activities are supported to a large extent by the main shareholder Wiener Städtische Wechselseitige.

45 Current developments Outlook 2012

Further promotion of organic growth

Continuous increase in profitability

Taking into account the economic environment to keep volatility to a minimum Thank you for your attention!