WE ARE - Wiener Städtische

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»FULL CONCENTRA- TION ON AUSTRIA« 40 ANNUAL REPORT 2010 | WIENER STÄDTISCHE WIENER STÄDTISCHE NEW Welcome to the future! Wiener Städtische is a wholly-owned subsidiary of the Vienna Insurance Group and number 1 in the Austrian insurance market. A look back explains the way to the new company structure: Over the last two decades Wiener Städtische has developed from a successful local insurance company to a group operating internationally. Against this background, Wiener Städtische was responsible for a variety of control tasks in addition to the insurance business operations. factbox > New corporate structure of Wiener Städtische legally binding since 3 August 2010. > The Managing Board of Wiener Städtische is composed as followed: Robert LASSHOFER, CEO Christine DORNAUS Judit HAVASI Peter HÖFINGER Erich LEISS Ralph MÜLLER* * Effective 1 April 2011, Ralph Müller is appointed a member of the Managing Board of Wiener Städtische. To do justice to the dynamic expansion, the company decided to create a new corporate structure and to separate the Austrian insurance business from the international activities of the group. At the general meeting of Wiener Städtische on 29 June 2010, the split-off of the entire insurance business into a whollyowned subsidiary was resolved. The resolution was passed with 100% of the votes present at the general meeting. The new organisational structure became final on 3 August 2010 and took effect retroactively as of 1 January 2010. Since then, VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe, as a publicly traded holding company, has been responsible for the control of the group in Austria and Central and Eastern Europe. WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group continues to be the group’s largest individual property/casualty, life and health insurance company in Austria. As a result of the corporate reorganisation, Wiener Städtische can fully concentrate on the Austrian market. The new structure provides transparency and a strong starting position for the future.
COMPANY & STRATEGY | MAJOR TOPICS 2010 | MANAGEMENT REPORT 2010 | ANNUAL FINANCIAL STATEMENTS 2010 EXPANSION OF THE SERVICE CENTRES Still more customer service, more efficient communication and optimisation of the cost position are the essential basic ideas of the bundling of activities in Service Centres. As early as in 2009, Wiener Städtische started a future-oriented reorganisation programme to create clear new structures and allow an even more efficient processing of the insurance business. As part of the restructuring measures, three new Service Centres for the areas of personal insurance, property insurance and collections were established. The Service Centres assume the administrative agendas for all of Austria. This relieves the individual provincial head offices so that they can concentrate even better on their core businesses, customer service and sales. Bundling of underwriting and claims units creates synergy effects that allow expansion of expertise through specialisation. Standardised and uniform processing of all cases offers customers an even higher level of quality and employees a more structured work environment. Not least, bundling has a positive effect on the cost position. Personal Insurance Service Centre The Personal Insurance Service Centre has been responsible throughout Austria for policy and claims processing for standard personal insurance transactions since September 2009. The bundling of life, health and casualty insurance classes was successfully completed in March 2010 as scheduled. Property Insurance Service Centre The Property Insurance Service Centre assumes the policy and claims processing for standard property insurance transactions (motor vehicle, homeowner, household and legal expenses claims). The Property Insurance Service Centre is divided into two locations – Vienna and Linz. The Property Insurance Service Centre located in Linz manages Upper Austria and Salzburg; the other provinces are managed in Vienna. The assumption of the agendas of the provincial head offices was completed in January 2011, faster than scheduled. Collections Service Centre The responsibilities of the third service centre cover the entire spectrum of collection services. The bundling of collections activities was successfully implemented over the course of the past year. In the course of the combining exercise, all business processes were streamlined and the workflow was optimised. Top priority is to process external and internal customer requests quickly and professionally. »THE GOAL IS TO OFFER EVEN HIGHER SERVICE QUALITY TO OUR CUSTOMERS.« ANNUAL REPORT 2010 | WIENER STÄDTISCHE 41 B
Page 1 and 2: AnnuAl rePOrt 2010 | WiENER STädTi
Page 3 and 4: WE ARE AVAILABLE nation-wide ANNUAL
Page 5 and 6: WE GIVE NEW MEANING TO problem-free
Page 7 and 8: WE OFFER THE MOST professional ADVI
Page 9 and 10: WE BELONG TO THE VIENNA INSURANCE G
Page 11 and 12: »We Are AuStriA ...« in August 20
Page 13 and 14: »... FAced With the chAllenge OF B
Page 15 and 16: the AuStriAn inSurAnce MArKet ...«
Page 17 and 18: the SucceSS OF All Our eMPlOYeeS.«
Page 19 and 20: chriStine dOrnAuS Member of the Man
Page 21 and 22: c MAnAgeMent rePOrt 2010 Business d
Page 23 and 24: Life 43.5% cOMPAnY & StrAtegY | MAJ
Page 25 and 26: Grieskirchen Ried/Innkreis Vöcklab
Page 27 and 28: Proximity to customers and service
Page 29 and 30: MAnY BrAndS, One grOuP and are the
Page 31 and 32: cOMPAnY & StrAtegY | MAJOR TOPicS 2
Page 33 and 34: ance coverage. Wiener Städtische t
Page 35 and 36: cOMPAnY & StrAtegY | MAJOR TOPicS 2
Page 37 and 38: tailored courses for the different
Page 39: Cross throughout Austria to provide
Page 43 and 44: After several years of increased cl
Page 45 and 46: income tax. No insurance taxes or s
Page 47 and 48: COMPANY & STRATEGY | MAJOR TOPICS 2
Page 49 and 50: of EUR 10,000 with annuitisation, a
Page 51 and 52: ter role in the future. This, in tu
Page 53 and 54: Print campaigns Consistent with the
Page 55 and 56: Expenses for claims and insurance b
Page 57 and 58: Life insurance Wiener Städtische l
Page 59 and 60: RISK REPORT The risk management dep
Page 61 and 62: OUTLOOK ECONOMIC GROWTH FOR AUSTRIA
Page 63 and 64: PROPOSED DISTRIBUTION OF PROFITS CO
Page 65 and 66: Wiener StädtiSche Versicherung Ag
Page 81 and 82: The insurance business operations o
Page 83 and 84: Japanese Small/Mid Ca, INVESCO GLB
Page 85 and 86: shown under deferred income on the
Page 87 and 88: values (purchase price, reduced by
Page 89 and 90: IV. NOTES TO THE INCOME STATEMENT C
Page 91 and 92:
COMPANY & STRATEGY | MAJOR TOPICS 2
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V. PROFIT PARTICIPATION HEALTH INSU
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a) an interest bonus equal to 0.5%
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Settlement Classes 2008 and 2010 -
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2. In accordance with policy terms
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VII. OTHER DISCLOSURES The company
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The company is a wholly-owned subsi
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We believe that the audit evidence
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ecommend unqualified approval to th
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PROVINCIAL ADVISORY COUNCILS The fo
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Michael Koch Helmut Löffler Hans L
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CONTACTS AND ADDRESSES ADVERTISING
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REAL ESTATE AND REAL ESTATE-RELATED
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Hollabrunn Direct dial 51900 Bahnst
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Schörfling Direct dial 57100 Markt
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Bad Gastein Direct dial 61700 Bahnh
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GLOSSARY Actuarial reserve A reserv
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Hidden reserves The actual value (m
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POSTAL ADDRESS WIENER STÄDTISCHE V
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WE ARE - Wiener Städtische

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