UNIQA Q1 profit fell by 30% to EUR 81.4 million

12 June 2014 — Vlad BOLDIJAR
uniqa7The Austrian insurer UNIQA announced first-quarter group earnings before tax decreased by 30.3% to EUR 81.4 million, but rose by a fifth excluding a gain of EUR 49.1 million a year ago from selling hotel assets, the company noted in a press release.

The net profit for the period amounted to EUR 57.7 million (1-3/2013: EUR 77.5 million), while the consolidated profit (after taxes and minority interests) fell by 26.4% to EUR 55.9 million. "In both cases, the decline is attributable to the non-recurring effect from the sale of the hotel group in the first quarter of 2013."

At the same time, premiums written rose by 2.3% to EUR 1.70 billion, while the combined ratio improved by 0.5% to 97.8% (1-3/2013: 98.3%). In 2012, the combined ratio was 101.3%.

For FY2013, UNIQA's positive outlook is closely on the stability of the capital markets, on the economic development, and on the remaining of the normal range of natural disasters.

Click here for the press release.

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