UNIQA looking for investment opportunities after the Group ended year 2018 overcapitalized

27 February 2019 — Cosmin CONCEATU
UNIQA has around EUR 700-800 million at its disposal to invest in new acquisitons, InsurTech and Fintech. The Group won't expand its business in new countries but will invest instead in the CEE markets where it is already active.

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).

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