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Member of the supervisory board of Kooperativa pojisˇt’ovna, a.s., Vienna Insurance Group, Prague Member of the supervisory board of Insurance Joint-Stock Company “STANDARD REZERV” Member of the supervisory board of Wiener Städtische osiguranje a.d.o. Member of the supervisory board of Joint Belarus-Austrian Insurance Company KUPALA Member of the supervisory board of Insurance Company ZASO Victoria Non-Life Dr. Judit Havasi Dr. Judit Havasi was born in 1975 and studied law in Vienna and Budapest. In 2000, she joined Union Biztosító (formerly Gloria Swisslife), a fully owned subsidiary of Wiener Städtische AG. Dr. Havasi has been a member of the management board of UNION Biztosító since 2005. In 2006, she completed her studies as a tax advisor and became a member of the extended board of Wiener Städtische AG that same year. In 2007, Dr. Havasi became a member of the Group management board of the Vienna Insurance Group. Dr. Havasi assists the management board of Wiener Städtische AG, particularly with respect to Group matters in the areas of labor law, international personnel development, corporate law (CEE), legal costs insurance (claims) and finance and accounting (CEE). In addition to her responsibilities at Wiener Städtische AG, Dr. Havasi currently holds directorships and offices in the following: Member of the management board of Union Vienna Insurance Biztosító Rt. Ing. Martin Divis, MBA Ing. Martin Divis was born in 1973. After finishing his business studies in Prague, he completed a post-graduate MBA degree in New York, USA. He joined Kooperativa Prague in 1995. Ing. Divis became a member of the extended board of Kooperativa Prague in 2005 and has been deputy general director of the company and a member of the extended board of Wiener Städtische AG since 2006. In 2007, Ing. Divis became a member of the Group management board of the Vienna Insurance Group, where he assists the management board of Wiener Städtische AG with international coordination in the areas of investments (real estate and real estate oriented investments, as well as securities and funds) and general liability (underwriting and claims). The country for which he is responsible is Belarus. In addition to his responsibilities at Wiener Städtische AG, Ing. Divis currently holds directorships and offices in the following: Member of the management board of Kooperativa pojisˇt’ovna, a.s., Vienna Insurance Group, Prague Member of the supervisory board of the life insurance company Bulgarski IMOTI Member of the supervisory board of the insurance company Bulgarski IMOTI Member of the supervisory board of Bulstrad Insurance & Reinsurance Plc. Member of the supervisory board of Joint Belarus-Austrian Insurance Company KUPALA Member of the supervisory board of Insurance Company ZASO Victoria Non-Life Member of the steering committee of the Czech Insurance Association Chairman of the motor vehicle division of the Czech Insurance Association Members of the Supervisory Board The Wiener Städtische AG’s supervisory board is composed of members elected by the shareholders’ meeting and by employee representatives delegated by the works council. The number of employee representatives on the supervisory board must be at least 50% of the number of members elected by the shareholders’ meeting. In accordance with the Articles of Association of 156
Wiener Städtische AG, the supervisory board must consist of at least three members elected by the shareholders’ meeting. Currently, the supervisory board of Wiener Städtische AG is composed of ten members elected by the shareholders’ meeting and five members delegated by the employees’ representation. Unlike the members elected by the shareholders’ meeting, the employee representatives on the supervisory board are persons employed by Wiener Städtische AG. The term of office of the members of the supervisory board elected by the shareholders’ meeting terminates at the end of the shareholders’ meeting in which the supervisory board actions for fourth fiscal year following the election are formally approved. Re-election (also more than once) is admissible. The members delegated by the employees’ representation are delegated for an indefinite period of time. The following table sets forth information on the persons who are currently members of the supervisory board: Name Age Position Member since Appointed until KR Dkfm. Klaus Stadler Generaldirektor i.R 69 Chairman of the supervisory board KR Dr. Karl Skyba 68 Deputy chairman of the supervisory board Propst Bernhard Backovsky 65 Member of the supervisory board Mag. Alois Hochegger 58 Member of the supervisory board Dipl.-Ing. Guido Klestil 66 Member of the supervisory board Prof. KR Walter Nettig 72 Member of the supervisory board HR Dkfm. Heinz Öhler 62 Member of the supervisory board Mag. Reinhard Ortner 59 Member of the supervisory board Dr. Johann Sereinig 56 Member of the supervisory board Mag. Dr. Friedrich Stara 59 Member of the supervisory board Peter Grimm 1 st deputy chairman of the central works council Heinz Neuhauser member of the central works council Franz Urban chairman of the central works council Gerd Wiehart 2 nd deputy chairman of the central works council Peter Winkler member of the central works council KR Dkfm. Klaus Stadler 55 Member of the supervisory board 64 Member of the supervisory board 58 Member of the supervisory board 46 Member of the supervisory board 52 Member of the supervisory board 1992 2010 1992 2010 2002 2010 2005 2010 1992 2010 1992 2010 2002 2010 2007 2010 1992 2010 2002 2010 KR Dkfm. Stadler was born in 1939. He studied at the University of Economics and Business Administration of Vienna. From 1965 through 1969, he was employed by Österreichische Revisionsund Treuhand-Gesellschaft m.b.H. From 1969 through 1974 he was managing director of Heizbetriebe Wien GmbH (now Fernwärme Wien Ges.m.b.H.). From 1974 until his retirement in 2002. Since 1980, Dkfm. Stadler has been a member of Wien Holding GmbH management board and has been general director since 1989. 157 1991 1991 1991 2002 2005
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WIENER STÄDTISCHE Versicherung AG
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Stabilization measures. In connecti
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[THIS PAGE INTENTIONALLY LEFT BLANK
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Proceeding Regarding BA-CA Versiche
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in detail factors which may influen
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“Benefia Non-Life” refers to BE
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“Unita” refers to Unita S.A. Vi
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Health insurance products are marke
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The Vienna Insurance Group can give
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The Offer Period and the Employee O
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Entitlement to Dividends: . . . . .
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RISK FACTORS Potential investors sh
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negative effects on the Vienna Insu
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safeguard the stability of the publ
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The Vienna Insurance Group depends
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Since the purchase price of the Tar
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always passed such resolutions as p
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General THE OFFERING The Offering c
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Global Coordinators on the basis of
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PLAN OF DISTRIBUTION Scope of and A
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Termination, Indemnification The Pu
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Japan The Offer Shares have not bee
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CAPITALIZATION The following table
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USE OF PROCEEDS Assuming all of the
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DIVIDEND POLICY All Existing Shares
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The respective country agreements i
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The table below sets forth key fina
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year, the Target Companies derived
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SELECTED FINANCIAL DATA The followi
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Vienna Insurance Group ranked secon
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Year Real economic growth Consumer
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therefore, good growth potential st
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Non-life rate-setting Rate-setting
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has also remained between 9.5 and 1
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Insurance policies generally includ
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Severance obligations Based on stat
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increase also came from insurance c
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of the scope of consolidation throu
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Financial result The following tabl
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The following table sets forth by r
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Health insurance segment The follow
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individual subsidiaries are respons
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Currently, neither the Management B
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EMBEDDED VALUE OF WIENER STÄDTISCH
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Group Embedded Value The following
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Overview BUSINESS With approximatel
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Life Insurance The life insurance b
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for a strong demand for these produ
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For more information regarding comp
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that entity. In 1938, “Gemeinde W
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In 2005, the Issuer acquired a part
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The following table sets forth the
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damages. The changes in the Vienna
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Corporate Customers In the property
Page 116 and 117: medical treatment, medicines (inclu
Page 118 and 119: In connection with endowment insura
Page 120 and 121: Wiener Städtische AG offers produc
Page 122 and 123: premiums written in fiscal year 200
Page 124 and 125: The Vienna Insurance Group conducts
Page 126 and 127: KOMUNÁLNA Poist’ovňa, a.s. Vien
Page 128 and 129: Description of the Six Most Importa
Page 130 and 131: The following table sets forth the
Page 132 and 133: 11.8%), with premiums increasing by
Page 134 and 135: subsidiary of TBIH) transferred its
Page 136 and 137: The investment policy is more conse
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Page 140 and 141: at equity). The table below provide
Page 142 and 143: ought against them will have a mate
Page 144 and 145: Trademarks and Patents The names
Page 146 and 147: Risk Management Organization The Gr
Page 148 and 149: Auditing In keeping with the minimu
Page 150 and 151: Reinsurers with a lower rating are
Page 152 and 153: Real Estate Risk The value of the r
Page 154 and 155: On the basis of the Group’s inter
Page 156 and 157: INSURANCE SUPERVISION Wiener Städt
Page 158 and 159: an ongoing basis. Insurance compani
Page 160 and 161: Persons that would like to directly
Page 162 and 163: In addition to his responsibilities
Page 164 and 165: Chairman of the supervisory board o
Page 168 and 169: General director (retired) KR Dr. K
Page 170 and 171: Members of the Extended Board The f
Page 172 and 173: Members of the Group Management Boa
Page 174 and 175: the extended Group board since 2008
Page 176 and 177: Member of management board, supervi
Page 184 and 185: Shares and Stock Options Held by Me
Page 186 and 187: Human Resources Committee (committe
Page 188 and 189: DESCRIPTION OF SHARE CAPITAL AND SU
Page 190 and 191: through a resolution of the shareho
Page 192 and 193: After the capital increase resolved
Page 194 and 195: The following measures require purs
Page 196 and 197: Neither Austrian law nor the Articl
Page 198 and 199: Dividend Rights The offered New Sha
Page 200 and 201: the purchase price exceeds 10% of t
Page 202 and 203: The executive bodies of WST-Versich
Page 204 and 205: esolution on the formal approval of
Page 206 and 207: Taxation in Austria TAXATION Taxes
Page 208 and 209: Capital Gains Resident Shareholders
Page 210 and 211: tax consequences that may be releva
Page 212 and 213: liability and may entitle such hold
Page 214 and 215: THE VIENNA STOCK EXCHANGE The infor
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Trading Volume In 2006, the aggrega
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Czech languages. The dissemination
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Takeover Commission and must prepar
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THE PRAGUE STOCK EXCHANGE The follo
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est quotation. During the closed ph
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obligations; or (iv) a criminal off
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Operating private hospitals in the
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RESPONSIBILITY STATEMENT PURSUANT T
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CONSOLIDATED BALANCE SHEET AS OF 31
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CONSOLIDATED SHAREHOLDERS’ EQUITY
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CONSOLIDATED CASH FLOW STATEMENT FR
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SEGMENT REPORTING CONSOLIDATED INCO
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total of 29 domestic and 41 foreign
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In the third quarter, the Celetná
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existing on the balance sheet repor
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For both owner-occupied and third p
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The credit quality of each contract
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not set to zero for Group subsidiar
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The calculations for 31 December 20
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RISK REPORTING The Vienna Insurance
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internal processes, strategic procu
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Concentration risk Concentration ri
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Other securities Financial investme
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The following table shows Vienna In
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measurement of the value of a compa
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that occurred in the current and al
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amount, the closely held corporatio
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Unrealised profits and losses are a
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Affiliated companies and participat
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Detail: Acquisition Costs Carried F
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9. RECEIVABLES Detail in EUR ’000
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13. CONSOLIDATED SHAREHOLDERS’ EQ
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Development in EUR ’000 Property/
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Development in life insurance 31.12
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Development in severance obligation
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24. LIABILITIES Detail in EUR ’00
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Off-balance sheet commitments The f
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Premiums written — Direct life in
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Detail — income in EUR ’000 Cur
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Detail — expenses in EUR ’000 D
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Detail in EUR ’000 Property/Casua
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The Supervisory Board is composed o
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the Austrian Stock Corporation Act
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SIGNIFICANT EVENTS AFTER THE BALANC
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REPORT OF THE SUPERVISORY BOARD The
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INDEPENDENT AUDITOR’S REPORT We h
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CONSOLIDATED SHAREHOLDERS’ EQUITY
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CONSOLIDATED CASH FLOW STATEMENT FR
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SEGMENT REPORTING CONSOLIDATED INCO
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28 does not exist, since Wiener St
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Information on the companies that a
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Accounting policies for specific it
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Financial investments Financial inv
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Active tax deferrals are not recogn
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policyholders. These reserves are f
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Operating expenses Group personnel
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To manage these underwriting risks,
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The Vienna Insurance Group has made
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Investments segment Health Life in
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Equities As of 31 December 2006, Vi
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The following table shows the Vienn
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The shareholder margin is calculate
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Reinsurance The Vienna Insurance Gr
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Development of purchased insurance
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4. PARTICIPATIONS On 31 December 20
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The information required under § 2
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For financial investments available
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9. RECEIVABLES Detail in EUR ’000
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13. CONSOLIDATED SHAREHOLDERS’ EQ
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14. SUBORDINATED LIABILITIES Subord
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Health insurance mathematical reser
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Maturities in EUR ’000 31.12.2006
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23. OTHER PROVISIONS Detail in EUR
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agreements with other insurers conc
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income statement. A portion of the
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Detail — income in EUR ’000 Cur
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The Other income of EUR 7,091 milli
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33. OTHER EXPENSES Detail in EUR
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The Supervisory Board is comprised
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The Managing Board is comprised of
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Significant events after the balanc
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AUDITOR’S REPORT We have audited
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REPORT OF THE SUPERVISORY BOARD The
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CONSOLIDATED INCOME STATEMENT FOR T
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SEGMENT REPORTING CONSOLIDATED BALA
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NOTES TO THE CONSOLIDATED FINANCIAL
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During the reporting period from 1
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negative, taking into account capit
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factors including contract and mark
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The creditworthiness of each contra
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formed at the individual policy lev
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The reserves are recognised at the
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The other capital assets item consi
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date, real estate has not represent
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Embedded value sensitivity analysis
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IBNR provisions are formed to offse
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Private customer activities. Privat
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Detail in EUR ’000 31.12.2005 31.
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For financial instruments available
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10. CASH AND CASH EQUIVALENTS Detai
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existing preferred shares may be is
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17. RESERVE FOR OUTSTANDING CLAIMS
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22. OTHER PROVISIONS Detail in EUR
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Other threatened and pending court
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Premiums written, total account Pro
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29. OTHER INCOME Detail in EUR ’0
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35. OTHER INFORMATION The Superviso
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The Management Board is comprised o
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in the area of pension funds in Bul
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Tax-free reserves In the consolidat
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AUDITOR’S REPORT We have audited
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Banker’s blanket bond The Banker
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Expense ratio The ratio of premium
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Loss ratio The percentage ratio of
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Shares of minority shareholders in
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experience are normal and are to be
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The FOG and the Cost of Non-Market
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The NBV has only been calculated fo
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policyholder behaviors, i.e. some a
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The yields shown are risk-free euro
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Sensitivity Analysis EEV The follow
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B&W Deloitte GmbH Magnusstra�e 11
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Embedded Value of the Target Compan
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3.2 Value of In-Force The VIF is th
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5. Sensitivity Analysis The followi
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ZUSAMMENFASSUNG DES PROSPEKTS Diese
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Gewinn vor Steuern von rund 1,05 Mr
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Sollten es die bisherigen Aktionär
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Mai 2008 ablaufen. Die Bezugsrechte
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diesem Prospekt enthaltenen Konzern
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SHRNUTÍ PROSPEKTU Toto shrnutí pr
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Dne 26. brˇezna 2008 uzavrˇely sp
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Uplatnění Upisovacích práv ze s
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prˇedstavují právo prˇevodu na
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Vybrané informativní finanční
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