Key figures for Vienna Insurance Group

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2014

2013 restated

2012

Earnings per share

EUR 2.75

EUR 1.57

EUR 3.01

Return on Equity

10.1%

6.7%

10.5%

Combined Ratio

96.7%

100.6%

96.7%

Loss ratio

65.8%

69.4%

65.9%

Cost ratio

30.9%

31.2%

30.8%

Earnings per share

Earnings per share is a key figure equal to consolidated annual profit (less non-controlling interests and interest on hybrid capital) divided by the average number of shares outstanding. In 2014 earnings per share rose to EUR 2.75, an increase of 75.5% compared to the previous year (2013: EUR 1.57).

RoE (Return on Equity)

RoE is the ratio of group profit before taxes to total average equity of Vienna Insurance Group. The Group generated a return on equity (RoE) of 10.1% in 2014 (2013: 6.7%).

Combined ratio significantly below 100%

The Group combined ratio (after reinsurance, not including investment income) improved to 96.7% in 2014. The value of 100.6% in the year before was still slightly above the 100% mark.

The combined ratio is calculated as the sum of all underwriting expenses and income, and net payments for claims and insurance benefits, including the net change in underwriting provisions, divided by net earned premiums in the property and casualty segment.