Vienna Insurance Group expects to raise its pretax profit next year even though 2011 will be “more difficult” than 2010, the group’s chief executive told Austrian daily newspaper WirtschaftsBlatt in an interview.
“We want to show a positive trend for the pretax profit also beyond 2010,” Vienna Insurance CEO Guenter Geyer was quoted as saying in WirtschaftsBlatt. “Although I assume that 2011 will be more difficult than 2010.” Geyer has forecast Vienna Insurance to raise 2010 pretax profit by more than 10 percent this year helped by a better financial result and rising life insurance premium income and despite high claims from storm and flood damages in central Europe.
The average analyst forecast is more optimistic than Geyer, predicting a 16 percent rise of pretax profit to 514 million Euro this year, and a further rise to 575 million euros in 2011.
