UNIQA reports profits up by 85% to EUR 197 million

5 September 2013 — Vlad BOLDIJAR
uniqa7In the first half of 2013, the Austrian insurance group UNIQA increased its profit on ordinary activities by 84.5%, to EUR 196.6 million, "despite net costs of around EUR 30 million as a result of flood damage," while the consolidated net profit increased by 162.7% to EUR 150.6 million, according to the 1H2013 Report, recently published by the company. At the same time, the value of GWP increased by 7.4% y-o-y to EUR 3.07 billion, the total amount of retained insurance benefits rose by 5.9% to EUR 2 billion, while the combined ratio improved to 99.4% (100.7% in 1H2012).

"With our figures for the 1st half of the year, we are well on the way to achieving our long-term growth targets: we intend to double the number of our customers from 7.5 million in 2010 to 15 million by 2020, and to increase our EBT by up to EUR 400 million in the time span 2010 - 2015. Depending on the market conditions, we are still planning a capital market transaction (re-IPO) that would allow the free float of UNIQA's shares to increase to up to 49%," declared Andreas BRANDSTETTER, CEO UNIQA Group.

On the main insurance classes, the gross written premiums in property and casualty insurance increased by a total of 4.4%, to EUR 1.41 billion, the value of GWP from health insurance increased by 3.4% y-o-y to EUR 472.1 million, while the life insurance segment rose by 13.1% to EUR 1.18 billion.

By regions, on the Austrian market, the group increased its written premium volume by 4.2% to EUR 1.98 billion, while in Western Europe (Italy, Liechtenstein and Switzerland), the premium volume rose by 13.3% y-o-y, to EUR 359.6 million (11.7% of UNIQA Group's total premiums). At the same time in Central, Eastern, Southeastern Europe and Russia, the GWP increased by almost 14% to EUR 731.5 million, this region contributing to the consolidated premiums portfolio by 24%.

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