30 | Premiums written

Direct business		2006 Group total € 000	2005 Group total € 000
1.	Property and casualty insurance	1,996,674	1,876,302
2.	Life insurance	1,577,346	1,568,783
3.	Health insurance	888,902	843,023
Total (fully consolidated values)		4,462,923	4,288,108
Of which written in:
1.	Austria	3,071,160	3,057,892
2.	Other member states of the EU and other signatory states of the Treaty on the European Economic Area	1,280,195	1,170,770
3.	Other countries	111,568	59,446
Total (fully consolidated values)		4,462,923	4,288,108

Indirect business		2006 Group total € 000	2005 Group total € 000
1.	Property and casualty insurance	40,473	57,276
2.	Life insurance	27,844	22,410
3.	Health insurance	898	2,371
Total (fully consolidated values)		69,214	82,057

	2006 Group total € 000	2005 Group total € 000
Total (fully consolidated values)	4,532,137	4,370,165

Premiums written in property and casualty insurance	2006 Group total € 000	2005 Group total € 000
Direct business
Fire and business interruption insurance	166,131	160,802
Household insurance	157,768	151,163
Other property insurance	188,244	175,925
Motor TPL insurance	511,755	471,553
Other motor insurance	335,076	311,577
Casualty insurance	224,076	210,439
Liability insurance	210,712	198,175
Legal expenses insurance	44,663	40,353
Marine, aviation and transport insurance	100,525	103,790
Other insurance	57,725	52,526
Total	1,996,674	1,876,302
Indirect business
Marine, aviation and transport insurance	2,529	3,272
Other insurance	37,943	54,004
Total	40,473	57,276
Total direct and indirect business (fully consolidated values)	2,037,147	1,933,578

Reinsurance premiums ceded	2006 Group total € 000	2005 Group total € 000
1. Property and casualty insurance	293,678	285,929
2. Life insurance	77,603	67,642
3. Health insurance	1,085	839
Total (fully consolidated values)	372,366	354,410

31 | Premiums earned (retained)

		2006 Group total € 000	2005 Group total € 000
1.	Property and casualty insurance	1,715,604	1,627,706
	Gross	2,008,241	1,912,925
	Reinsurers’ share	-292,637	-285,220
2.	Life insurance	1,527,391	1,523,309
	Gross	1,604,998	1,591,095
	Reinsurers’ share	-77,607	-67,786
3.	Health insurance	886,672	849,415
	Gross	887,746	850,321
	Reinsurers’ share	-1,074	-906
Total (fully consolidated values)		4,129,666	4,000,429

Premiums earned in indirect business	2006 Group total € 000	2005 Group total € 000
Posted immediately	10,836	17,197
Posted after up to one year	30,318	40,129
Property and casualty insurance	41,155	57,326
Posted immediately	5,452	599
Posted after up to one year	22,339	22,115
Posted after more than one year	53	-304
Life insurance	27,844	22,410
Posted immediately	495	717
Posted after up to one year	403	1,653
Health insurance	898	2,371
Total (fully consolidated values)	69,896	82,107

Earnings from indirect business	2006 Group total € 000	2005 Group total € 000
Property and casualty insurance	11,985	18,295
Life insurance	866	2,185
Health insurance	-137	-448
Total (fully consolidated values)	12,714	20,032

32 | Income from fees and provisions

	2006 Group total € 000	2005 Group total € 000
Reinsurance commission and profit shares from reinsurance business ceded	80,865	66,744
Property and casualty insurance	59,539	55,851
Life insurance	21,203	10,818
Health insurance	122	74
Total (fully consolidated values)	80,865	66,744

33 | Net investment income1)

I. Properties held as financial investments II. Variable-yield securities 1. Available for sale 2. Reported in the income statement III. Fixed interest securities 1. Held to maturity 2. Available for sale 3. Reported in the income statement IV. Loans and other investments 1. Loans 2. Other investments V. Derivative financial instruments VI. Expenditures for asset management, interest expenditures and other Total (fully consolidated values)

Property and casualty insurance Life insurance Health insurance Consolidated financial statements 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2,757 6,201 3,370 3,994 8,726 6,215 14,852 16,410 69,131 65,698 302,237 403,428 53,930 35,518 425,298 504,643 63,100 57,054 257,310 312,335 47,015 29,452 367,425 398,841 6,031 8,644 44,927 91,093 6,915 6,065 57,873 105,802 33,156 69,069 209,024 490,996 28,231 61,196 270,411 621,260 0 0 0 0 0 0 0 0 32,284 68,220 188,906 448,792 25,663 57,751 246,853 574,762 872 849 20,118 42,204 2,568 3,445 23,559 46,498 13,877 22,111 27,735 41,080 20,244 18,479 61,856 81,670 13,107 17,869 14,835 24,242 16,074 17,092 44,017 59,203 770 4,242 12,900 16,838 4,169 1,387 17,839 22,467 8,753 -22,314 80,599 -189,873 6,882 -16,950 96,233 -229,137 -12,448 -8,490 -7,160 -7,281 -3,717 -2,475 -23,326 -18,247 115,226 132,274 615,804 742,343 114,294 101,982 845,325 976,600

I. Properties held as financial investments II. Variable-yield securities 1. Available for sale 2. Reported in the income statement III. Fixed interest securities 1. Held to maturity 2. Available for sale 3. Reported in the income statement IV. Loans and other investments 1. Loans 2. Other investments V. Derivative financial instruments VI. Expenditures for asset management, interest expenditures and other Total (fully consolidated values)

Ordinary income Write-ups and unrealised capital gains Realised capital gains Write-offs and unrealised capital losses Realised capital losses Consolidated financial statements 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 2006 € 000 2005 € 000 43,985 40,457 0 0 8,820 797 -36,630 -24,754 -1,323 -91 14,852 16,410 122,585 79,418 661 28,365 303,447 299,491 -53,011 -4,466 -6,257 -3,967 367,425 398,841 30,522 42,629 43,739 55,833 29,644 19,865 -35,797 -1,406 -10,235 -11,119 57,873 105,802 0 0 0 0 0 0 0 0 0 0 0 0 410,441 368,117 1,553 59,225 42,017 175,238 -159,091 -21,501 -48,068 -6,317 246,853 574,762 29,627 40,159 589 3,567 1,840 9,637 -7,638 -4,939 -860 -1,927 23,559 46,498 49,901 59,716 2,399 2,582 0 3,329 -8,283 -6,420 0 -5 44,017 59,203 17,839 22,467 0 0 0 0 0 0 0 0 17,839 22,467 -26,327 -9,255 65,361 37,880 139,993 55,377 -22,420 -82,912 -60,373 -230,226 96,233 -229,137 -23,326 -18,247 0 0 0 0 0 0 0 0 -23,326 -18,247 655,247 625,462 114,302 187,452 525,761 563,734 -322,869 -146,397 -127,116 -253,651 845,325 976,600

Impairment		Write-offs and value adjustment		Of which current depreciation/amortisation		Of which value adjustment
		2006 € 000	2005 € 000	2006 € 000	2005 € 000	2006 € 000	2005 € 000
I.	Properties held as financial investments	-36,630	-24,754	-25,179	-24,754	-11,451	0
II.	Variable-yield securities
	1. Available for sale	-53,011	-4,466	-20,480	3,607	-32,530	-8,073
	2. Reported in the income statement	-35,797	-1,406	-35,797	-1,406	0	0
III.	Fixed interest securities
	1. Held to maturity	0	0	0	0	0	0
	2. Available for sale	-159,091	-21,501	-67,937	-65	-91,154	-21,436
	3. Reported in the income statement	-7,638	-4,939	-7,638	-4,939	0	0
IV.	Loans and other investments
	1. Loans	-8,283	-6,420	-8,283	-6,420	0	0
	2. Other investments	0	0	0	0	0	0
V.	Derivative financial instruments	-22,420	-82,912	-22,420	-82,912	0	0
VI.	Expenditures for asset management, interest expenditures and other	0	0	0	0	0	0
Total (fully consolidated values)		-322,869	-146,397	-187,733	-116,888	-135,136	-29,509

34 | Other income

				2006 Group total € 000	2005 Group total € 000
a)	Other actuarial income			18,771	12,616
	Property and casualty insurance			15,538	9,816
	Life insurance			2,558	2,521
	Health insurance			675	280
b)	Other non-actuarial income			19,534	18,054
	Property and casualty insurance			14,443	13,781
	Life insurance			4,435	3,344
	Health insurance			655	929
		Of which
			Services rendered	7,312	5,028
			Changes in exchange rates	3,629	2,148
			Other	8,593	10,878
c)	Other income			3,579	5,896
	From foreign currency conversion			2,967	1,377
	From other			612	4,519
Total (fully consolidated values)				41,884	36,566

35 | Insurance benefits

Property and casualty insurance Expenditure for claims Claims paid Change in provision for outstanding claims Total Change in actuarial provision Change in other actuarial provisions Expenditure for profit-unrelated and profit-related premium refunds Total amount of benefits Life insurance Expenditure for claims Claims paid Change in provision for outstanding claims Total Change in actuarial provision Change in other actuarial provisions Expenditure for profit-unrelated and profit-related premium refunds and/or (deferred) profit participation Total amount of benefits Health insurance Expenditure for claims Claims paid Change in provision for outstanding claims Total Change in actuarial provision Change in other actuarial provisions Expenditure for profit-unrelated and profit-related premium refunds Total amount of benefits Total (fully consolidated values)

2006 2005 Gross € 000 Reinsurers’ share € 000 Retention € 000 Gross € 000 Reinsurers’ share € 000 Retention € 000 1,204,312 -150,890 1,053,422 1,141,388 -170,547 970,841 60,800 -4,053 56,746 101,980 7,341 109,321 1,265,112 -154,943 1,110,169 1,243,368 -163,206 1,080,162 -1,723 -4,157 -5,880 -1,429 -1,052 -2,481 -491 -1 -492 1,568 501 2,069 24,933 1,328 26,262 27,192 -818 26,373 1,287,832 -157,773 1,130,059 1,270,699 -164,576 1,106,123 975,275 -48,192 927,083 821,923 -46,189 775,733 5,807 3,997 9,804 -5,785 1,100 -4,685 981,082 -44,195 936,887 816,138 -45,089 771,049 638,341 -20,207 618,134 901,734 -18,313 883,421 -2,418 0 -2,418 706 0 706 227,085 95 227,180 242,544 0 242,544 1,844,089 -64,307 1,779,782 1,961,122 -63,402 1,897,720 649,390 -616 648,774 622,163 -262 621,901 -2,474 -726 -3,199 11,518 -32 11,486 646,917 -1,342 645,575 633,681 -295 633,387 132,727 133 132,861 104,267 -409 103,858 9 0 9 40 0 40 27,352 -2 27,350 35,779 -4 35,775 807,004 -1,210 805,794 773,767 -707 773,060 3,938,925 -223,290 3,715,635 4,005,588 -228,685 3,776,903

36 | Operating expenses

		2006 Group total € 000	2005 Group total € 000
Property and casualty insurance
a)	Acquisition costs
	Payments	424,170	406,901
	Change in deferred acquisition costs	-12,342	-7,235
b)	Other operating expenses	216,582	208,949
		628,410	608,615
Life insurance
a)	Acquisition costs
	Payments	252,282	207,848
	Change in deferred acquisition costs	-42,576	-40,041
b)	Other operating expenses	72,902	87,105
		282,608	254,912
Health insurance
a)	Acquisition costs
	Payments	86,845	79,316
	Change in deferred acquisition costs	64	-979
b)	Other operating expenses	49,878	52,597
		136,787	130,934
Total (fully consolidated values)		1,047,805	994,461

37 | Other expenses

			2006 Group total € 000	2005 Group total € 000
a)	Other actuarial expenses		74,391	67,060
	Property and casualty insurance		33,129	21,825
	Life insurance		36,161	38,731
	Health insurance		5,101	6,503
b)	Other non-actuarial expenses		27,009	25,813
	Property and casualty insurance		23,513	24,086
	Life insurance		2,931	1,282
	Health insurance		565	445
	Of which
		Services rendered	2,155	1,759
		Exchange rate losses	8,821	7,852
		Motor vehicle registration	6,404	3,711
		Other	9,629	12,491
c)	Other expenses		5,623	357
	For foreign currency translation		304	357
	For other		5,320	0
Total (fully consolidated values)			107,024	93,230

38 | Profit from associated companies

	Consolidated financial statements
	2006 € 000	2005 € 000
Income from associated companies	45,017	12,871
Shares in associated companies	2006 € 000	2005 € 000
Ordinary income	45,017	18,358
Write-ups and unrealised capital gains	0	0
Realised capital gains	0	0
Depreciation/amortisation and unrealised capital losses	0	-5,488
Realised capital losses	0	0
Consolidated financial statements	45,017	12,871

39 | Tax expenditure

Income tax	2006 Group total € 000	2005 Group total € 000
Actual tax in reporting year	52,218	41,255
Actual tax in previous year	9,086	15,713
Deferred tax	2,117	22
Total (fully consolidated values)	63,422	56,991

Reconciliation statement			2006 Group total € 000	2005 Group total € 000
A.	Profit from ordinary activities		238,487	190,332
B.	Anticipated tax expenditure (A * Group tax rate),		59,607	46,913
	Adjusted by tax effects from
	1) Tax-free investment income		-10,943	-4,665
	2) Other		14,757	14,742
		Amortisation of goodwill	91	2,794
		Non-deductible expenses / other tax-exempt income	1,406	2,215
		Changes / deviations in tax rates	9,412	4,981
		Lapse of loss carried forward and other	3,849	4,752
C.	Income tax expenditure		63,422	56,991
Average effective tax burden in %			26.6	29.9

The basic applicable corporate income tax rate for all segments was 25%. For life insurance, to the extent that the minimum taxation is applied, in the case of an assumed profit participation of 85%, this leads to a different corporate tax rate.