Premiums written in property and casualty insurance grew by 11.7% to EUR 2,188.8 million in the first six months of 2023. The gross combined ratio in property and casualty insurance improved further from an already good level of 90.4% to 89.2% in the first half of 2023. This was attributable to strong growth, good settlement results and low claims burdens from major losses and natural catastrophes.
In health insurance, growth of 8.7% to EUR 693.8 million was recorded in premiums written in the first six months of 2023.
In life insurance, premiums written (including savings portions from unit-linked and index-linked life insurance) decreased slightly in the reporting period by 1.5% to EUR 824.7 million.
The insurance revenue in accordance with IFRS 17 at the UNIQA Group rose in the first two quarters of 2023 by 10.7% to EUR 2,919.6 million. “All business lines and segments contributed towards this, with property and casualty insurance increasing by 13.1%, health insurance by 6.5% and life insurance by 6.1%. Insurance revenue in Austria rose by 8.1%, and gained 13.2% in the international companies.
UNIQA’s technical result was maintained at a good level of EUR 267.7 million (vs. EUR 298.7 million).
Net investment income rose to EUR 324.8 million in the first half of 2023 (vs. EUR -116.9 million) – driven above all by the considerably lower impairments compared to the previous year. The financial result increased as a result and was above expectations at EUR 72.7 million.
The UNIQA Group’s earnings before taxes improved significantly to EUR 215.9 million (EUR 91.4 million). Consolidated profit/(loss) (the proportion of net profit/(loss) for the period attributable to the shareholders of UNIQA Insurance Group AG) increased by 97.2% to EUR 171.6 million (1 – 6/2022: EUR 87.0 million).
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