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GRAWE 2016 - Balance Sheet

09. May 2017
GRAWE 2016 - Balance Sheet

GRAWE unites many values – but the trust of our clients is particularly important to us. We take their trust as a reason to continue to generate good results and thus remain a reliable and stable partner for our clients.

We are united by dynamism.
For more than 185 years, GRAWE has united tradition with dynamism. The development of total premium income at GRAWE AG (Austria) was also dynamic in the 2016 financial year and increased by 3.5% to EUR 541.1 million. In non-life insurance, growth in premiums was 4.7% and in life insurance 0.4%. In the past financial year, the contract portfolio increased by 3.1% to 2,165,492 contracts. With a value of EUR 58.2 million, earnings before tax (EBT) exceeded the previous year's figure by 12.4%.
We are united by security.
The desire to invest the funds that our clients entrust us with as securely as possible and at the same time correspondingly profitably unites us with our clients. Accordingly, just under 60% of the investment portfolio of GRAWE Austria and more than 70% of the portfolio of the GRAWE Group is invested in fixed-interest-bearing securities and real estate properties of stable value. Overall, the investments of the GRAWE Group posted growth of 7.1% to EUR 4,722.0 million in the past financial year.
We are united by stability.
The solvency ratio of GRAWE AG as per 31.12.2016 of 343% not only demonstrates the overachievement of the statutory requirements pursuant to Solvency II but also the stability that has always united us at GRAWE. The equity quota of GRAWE is also a good indicator for the company's financial stability: At 20.5%, this also rose again in 2016 and is considerably above the industry average of 10.1%.
We are united by diversity.
GRAWE brings together more than 4,500 employees in 13 Central and Eastern European countries. The diversity of knowledge, languages and cultural influences constitutes a fundamental success factor. In 2016, the GRAWE Group generated earnings before tax (EBT) of EUR 157.2 million and thus an increase of 36.3% compared to the previous year. Both the banking and the real estate sector of the GRAWE Group developed well in the past year. However, the result was also positively influenced by one-off effects in the banking sector. In the insurance sector, premiums written increased by 2.5% and reached a figure of EUR 813.8 million. Around 34% of total premium income is generated by the GRAWE insurance subsidiaries in Central and Eastern Europe.
We are united by growth.
With the establishment of its first subsidiary in Slovenia, GRAWE ventured outside of Austria as early as 1991 and since then has posted constant growth in Central and Eastern Europe. Most recently, GRAWE was able to expand its market position in Bosnia and Herzegovina further with the takeover of a majority interest in VGT Visoko in March 2017. Together with GRAWE osiguranje d.d. Sarajevo, which has been active on the Bosnian insurance market since 1998, the market share of GRAWE is now around 12%.
GRAWE also enjoyed growth in Montenegro. Since 31.12.2016, the former Merkur osiguranje a.d. Podgorica has been part of the GRAWE family. It will be merged with GRAWE osiguranje a.d. Podgorica which was established in 2004.
The development of GRAWE in Romania is also positive: At the end of 2016, GRAWE Romania Asigurare S.A. started to offer motor insurance and has already been able to generate initial pleasing results on the Romanian market. GRAWE thus continues to be on a course of growth – both through its own development and through acquisition.
We are united by change.
Change is part of the tradition at GRAWE. In this year, there are also changes in the management team: After 31 years on the Board of Directors, including 17 years as Chairman of the Board and General Director, Dr. Othmar Ederer is handing over the reins of GRAWE AG (Austria). From 1.7.2017, his deputy up to now, Mag. Klaus Scheitegel, will be taking over the Chair of the Board of Directors and the position of General Director at GRAWE AG (Austria).
He will be assisted on the Board of Directors team by Dr. Gernot Reiter as his deputy (up to now Head of the IT Services department at GRAWE AG), Mag. Gerald Gröstenberger (up to now Board Director at GRAWE Hrvatska d.d., Zagreb) und Mag. Georg Schneider (up to now Head of the Technical Situation Property department at GRAWE AG).
Dr. Othmar Ederer will remain in his position as Chairman of the Board of Directors of GRAWE Vermögensverwaltung. Dr. Günther Puchtler and Dipl.Techn. Erik Venningdorf will also be leaving the Board of Directors of GRAWE AG (Austria) but will remain on the Board of Directors team at GRAWE Vermögensverwaltung.

The GRAWE financial year 2016 at a glance

  • Earnings before tax (EBT) of GRAWE AG (Austria) increases by 12.4% to EUR 58.2 million in 2016
  • As of 31.12.2016, GRAWE AG (Austria) has a solvency ratio (Solvency II) of 343%.
  • GRAWE equity ratio (20.5%) also increased again in 2016 and is substantially above the industry average (10.1%).
  • In 2016, GRAWE employs more than 4,500 staff in 13 Central and Eastern European countries.

Photo: Mag. Klaus Scheitegel, General Manager of GRAWE and Dr. Othmar Ederer, Chairman of the Board of GRAWE-Vermögensverwaltung (© GRAWE/Ralph König)


Mag. (FH) Karin Taferner-Bauer | Head of Corporate Communication and Marketing | Grazer Wechselseitige Versicherung AG | Tel.: 0316/8037-6430 | E-mail:

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