The 2018 results of UNIQA show a few important improvements in its activity. The combined ratio has decreased from 97.5% in 2017 to 96.8%. GWP have increased by EUR 16 million compared to the previous year. The Group's overall profit increased by +41.6%, reaching EUR 243 million. The Czech Republic and Russia are the most profitable regions for UNIQA, while Romania is the only CEE country where UNIQA recorded a negative result in 2018.
Andreas BRANDSTETTER, CEO of UNIQA, said that the company is currently facing a "luxury problem," during the recent press conference over balance sheet. The Solvency II SCR indicator of equity capital currently sits around 250%, while the internal targeted size was around 170-180%. To solve this problem, a progressive dividend increase is considered, from 51 cents per share to 53. New acquisitions in FinTech or InsurTech is also a possible choice for UNIQA.
Full report of UNIQA Group's activity in 2018 can be found here (in German).