HDI Versicherung AG, Austria

Market position

The HDI Versicherung AG (HDI/A) was founded in 1983 by HDI in its present form, emanating from the Paper Industry's Fire Insurance Association. Up to 1990 the Austrian company primarily underwrote industrial business, before entering in 1990 the motor vehicle business and thus then to develop all P/C. The last few years were marked by strong growth with a simultaneous significant improvement in results. This enabled the HDI/A to constantly improve its market position both in the motor and industrial sectors.

Key figures

IFRS		2009	2008	+/- %
Gross written premium	EUR m	193.3	195.8	-1.3
Retention	%	36.8	38.1
Net written premium	EUR m	71.2	74.5	-4.5
Net premium earned	EUR m	71.6	73.6	-2.7
Combined ratio	%	87.0	79.4
Net investment income	EUR m	6.9	4.9	40.2
Operating profit (EBIT)	EUR m	16.0	18.8	-14.7
Net profit (after tax)	EUR m	12.1	14.8	-18.4
Equity	EUR m	113.3	94.9	19.4
Return on equity after tax	%	10.6	15.6
Investments	EUR m	256.4	218.3	17.4
Total assets	EUR m	452.2	413.0	9.5
Number of contracts	thousand pcs.	404	399	1.2
Staff (31 Dec.)		242	236	2.5

History

1983
Foundation of the HAPA Aktiengesellschaft für Industrieversicherungen (HDI takes up business in Austria).

1985
Change of name to Hannover International AG für Industrieversicherungen.

2003
Change of name to HDI Hannover Versicherung AG.

2008
Acquisition of the GKA branch in Vienna.
Foundation of Eastern European platform in Hungary, Czech Republic and, from 1.1.2009, Slovakia.
Renamed as "HDI Versicherung AG".