October 10, 2008 10:00 ET

Vienna Insurance Group Reinforces Its Trust in IBM

VIENNA, AUSTRIA--(Marketwire - October 10, 2008) - The Vienna Insurance Group doesn't have to worry about their IT services. The leading insurance group affirms its belief in IBM Austria by announcing a new information technology (IT) services agreement with IBM (NYSE: IBM) for the next 6 years.

In recent years, Vienna Insurance Group has grown beyond Austrian borders and has become a leading international insurance group in Central and Eastern Europe (CEE). To consolidate their powerful IT growth and create resources for further growth, the company reinforced its partnership with IBM.

Günter Geyer, CEO, Vienna Insurance Group, said, "With this step, we can concentrate on our further growth and our core business (main tasks). Now we are prepared to further develop our role as a forerunner in the insurance sector. Trendsetting developments in the insurance sector can be driven quicker in the future."

Leo Steiner, CEO IBM Austria, underlined the collaboration with Vienna Insurance Group, "IBM provides Vienna Insurance Group with local and international experience in the insurance sector, deep industry know-how and latest technology. With the flexibility and transparency of our IT services, the insurance company does not need to worry about IT specifics and retains a full view of its operations."

The growth of Vienna Insurance Group is reflected in the new IT services contract because of its flexible and transparent form. All IT services are focused on a flexible output performance to optimally satisfy the business needs of the expanding insurance group.

In addition to these services, IBM Austria will make sure that the infrastructure as well as the enlargement and renewal of a considerable part of hardware, software and applications development on mainframe are available. The IT services are delivered and charged "on demand."

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