GRAWE 2021 - Balance Sheet

• Earnings before tax (EBT) of GRAWE AG EUR 72.4 million
• As at 31.12.2021, GRAWE AG has a solvency ratio (Solvency II) of 328.3%
• GRAWE AG equity ratio (24.3%) also increased further in 2021
• Earnings on ordinary business activities of the GRAWE Group were EUR 135.0 million
• GRAWE Group employs an annual average of 5,155 employees in 13 Central, Eastern and South-Eastern European countries in 2021

In a few years, GRAWE will celebrate its 200th anniversary. Time and again in this long history, we have had to overcome turbulent times. The key to our sustainable success: a culture based on respect and entrepreneurial commitment and a consistent focus on the needs of our customers. Professional expertise, conscientiousness and an optimistic view of the future have always been part of our corporate culture and the most important building block for success. GRAWE has set itself the goal of actively shaping future developments and being a reliable partner for our customers and employees at all times.

Facts and figures 2021

Ever since its foundation over 190 years ago, GRAWE has recorded sustainable growth, which is also reflected in the current figures. In the 2021 financial year, the total premium income of GRAWE AG increased by 6.8% to EUR 694.2 million. Premium growth in property and casualty insurance was 6.0%, while life insurance recorded an increase of 9.3%. The contract portfolio increased by 3.0% to 2,359,244 contracts in the past financial year. Earnings before tax (EBT) reached a value of EUR 72.4 million. Meanwhile, the development of the GRAWE Group shows total premium growth of 7.8% to EUR 1,070 million. In the 2021 financial year, the GRAWE Group succeeded for the first time in reaching and significantly exceeding the one-billion-euro mark in written premiums. The Group’s earnings before tax (EBT) totalled EUR 135.0 million in the insurance, banking and real estate sectors.

Sustainable investment policy - safety through consistency and determination

Particularly in an economically difficult environment, characterised by low interest rates and high inflation, the special importance of balanced capital investment - a basic principle of GRAWE AG - becomes apparent. The primary objective in capital investment is to continuously ensure that the obligations from the insurance contracts can be fulfilled. Clients often entrust their money to insurance companies for very long investment periods. This trust and the performance commitments related to the contracts obligate GRAWE to sustainable, safety-oriented investment. Accordingly, the portfolios of GRAWE AG and the GRAWE Group are very broadly positioned. In the past financial year, the GRAWE Group recorded an increase of 4.6% in investments to EUR 5,737.1 million.

As a result of this consistent investment strategy, GRAWE AG is well equipped with own funds and, with an equity ratio of 24.3%, is well above the market average. With a solvency ratio of 328.3% as at 31.12.2021, GRAWE AG exceeds the legal requirements according to Solvency II. This high value once again underlines the special stability and consistency that have always characterised GRAWE.

Honesty and reliability create trust

Recommendation is the yardstick for customer satisfaction. GRAWE AG can be particularly proud of the fact that it has received the "Recommender Award" from the Financial Marketing Association of Austria (FMVÖ) no less than 14 times in 15 years. In 2021, GRAWE AG won in the "Insurances throughout Austria" category and was also awarded the title "Excellent customer orientation". Almost 1,600 highly trained employees at GRAWE AG and a total of around 5,155 in the GRAWE Group strive every day to be a reliable contact partner for customers and to advise them individually and in line with their needs.

GRAWE Banks and Real Estate

Stability, security and reliability are the values that GRAWE has exemplified for over 190 years. GRAWE's business model includes not only the insurance sector. GRAWE also acts as a reliable service provider in the finance and real estate sector, both nationally and internationally. The successful merger of Bankhaus Schelhammer & Schattera, Vienna's oldest private bank, with Capital Bank to form Schelhammer Capitalbank AG is particularly noteworthy in this respect.

Last year, the GRAWE Real Estate Group successfully completed the "GRAWE REININGHAUS - Living in the Park" project on the former Reininghaus grounds. A total of 318 residential units were built with a total floor space of around 22,400 m2 x and a new GRAWE customer centre was also established. Since the beginning of the year, the latest project, the "Styria-Wohnpark" in Conrad-von-Hötzendorf-Straße, has also been under construction. Here, at a central location, around 190 residential units will be built by 2024. Both projects are characterised by ideal public transport connections and excellent accessibility. Responsible and sustainable construction is a particular concern for GRAWE. The primary goal is to offer living space for all needs, so that customers can live in a GRAWE apartment throughout their entire lives.

Extension of mandates and election of new member to the Board of Directors

The Supervisory Board extended the mandates of General Director Klaus Scheitegel, Deputy General Director Gernot Reiter and Board Director Georg Schneider for a further five years, and elected Paul Swoboda to the GRAWE AG Board of Directors.

Overall, GRAWE put the past financial year to very good use and can look back on a pleasing result. Grawe has always proven to be a group with a long tradition that generates constant growth.

Download:

Annual Report 2021 - short version

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

Enquiries:

Mag. (FH) Karin Taferner-Bauer | Head of Communication and Marketing | Grazer Wechselseitige Versicherung AG | Telephone: 0316/8037-6430 | E-mail: karin.taferner-bauer@grawe.at