The current investment income increased by 4.0% to ATS 2,114.0 million (Euro 153.6 million) compared to the corresponding time period the previous year. The poor performance of the stock markets in the first quarter encumbered the quarterly financial results by about ATS 400 million (about EUR 29.1 million). The total operating costs (excluding commissions) increased by only 2.3% to ATS 1,398.5 million (EUR 101.6 million) compared to the first three months the previous year. The total expenses, (costs and commissions) including claims settlement and asset administration costs increased by 0.9% to ATS 2,169.4 million (EUR 157.7 million).

The premium growth was predominantly carried by life assurance. This line accounted for a premium increase of 29.0% to ATS 5,796.0 million (EUR 421.2 million) for the first quarter. Benefits of ATS 2,261.3 million (EUR 164.3 million) were paid, 5.1% more than in the corresponding period the previous year.

The property and casualty insurance lines achieved a premium volume of ATS 3,580.3 million (EUR 260.2 million / +2.4%) in the first quarter 2001. The paid claims and benefits increased, accounting conditioned, disproportionately higher to ATS 1,896.8 million (EUR 137.8 million / +16.8%).

The health insurance line attained premiums written of ATS 2,324.2 million (EUR 168.9 million / +6.4%) in the first quarter 2001. The paid claims increased, accounting conditioned, disproportionately higher to ATS 1,929.5 million (EUR 140.2 million +11.0%).