200th anniversary

Wiener Städtische on the road to success on its 200th birthday

Tyrolean Regional Director Walter Peer (left) with General Director Ralph Müller. Wiener Städtische celebrated its anniversary on Wednesday. The company has been in business for 200 years.(Bild: Birbaumer Christof)

Wiener Städtische Versicherung AG is looking back on its 200th anniversary. General Manager Ralph Müller and Tyrolean Regional Director Walter Peer therefore hosted a press conference on Wednesday.

In Tyrol, the insurance company recorded premium income of EUR 82.4 million in the first quarter of this year. The largest increase of 12.5 percent was achieved in health insurance. Income in this area amounted to 10.9 million euros. In life insurance, the figure was EUR 28.1 million (+9.7%), while in property/casualty insurance it was EUR 43.4 million (+9.4%).

Wiener Städtische paid out around EUR 800,000 in benefits to its customers in Tyrol every day in the first quarter.

Walter Peer

Solid growth expected for the rest of the year
"After a successful year in 2023, we continue to see very positive development in Tyrol this year. After economically challenging years, we are noticing a noticeable change in awareness in customer discussions towards an increased need for insurance and pension provision," summarizes Peer. He expects "continued solid growth for the rest of the year".

But it was not only on the income side that there was an increase.

Damage caused by storms amounted to more than EUR 2 million
"Wiener Städtische paid out around EUR 800,000 in benefits to its customers in Tyrol every day in the first quarter." This impressive sum is attributed to high claims inflation in terms of repair costs in the motor vehicle and household/home, industry and health sectors. A large proportion is also attributable to customer services due to natural disasters.

Peer comments: "In Tyrol, losses in the first half of this year amounted to 2.1 million euros. The summer and autumn months, when experience shows that most storm damage occurs, are still ahead of us." Tyrol achieved the best result in Austria in 2023 with 231 million or +3.3 percent.