"In an extraordinary year shaped by Russia's attack on Ukraine, skyrocketing energy prices and high inflation, our core business once again proved to be crisis-resistant," says Andreas Brandstetter, CEO of the UNIQA Insurance Group.
Premiums written by UNIQA Austria increased by 4.3% to EUR 4.09 billion, while in case of UNIQA International, they rose by 3.4% to EUR 2.51 billion despite a sharp drop in sales in Ukraine and Russia.
The technical result of the UNIQA Group went up by 96.2% to EUR 410.5 million in 2022.
"We are seeing excellent business development not just in Austria, but especially in our international companies in CEE too. With around 38% of the premiums written and excellent profitability, they contributed significantly to the highly satisfactory results," Brandstetter says.
Despite high burdens due to major damages and natural catastrophes, as well as the inflation-related price increase for repair services, the combined ratio was improved further to 92.9%.
"During this phase after the pandemic has subsided, which we have still not been in for long, demand for healthcare products remains high. For that reason, we will continue to systematically expand our health ecosystem, including beyond the standard insurance products," says Brandstetter.