UNIQA raises its YE forecasts following H1 preliminary figures

20 July 2021 — Andrei Victor
Following preliminary H1 2021 statements, Austrian insurance group UNIQA announced is raising its FY2021 forecast. At the same time, for the first half of 2021, UNIQA estimates that earnings before taxes will exceed EUR 200 million.

"Contrary to previous expectations of earnings before taxes at around the same level as 2018, due to improved profitability in the core underwriting business, the Group is now expecting earnings before taxes for 2021 in the range of EUR 330 to EUR 350 million".

The Austrian insurer mentioned that, for the period 2021 to 2025, its growth targets are as follows: average annual premium growth of 3%, a substantial reduction in cost ratio to 25%, a sustainable combined ratio of around 93% by 2025, and return on equity consistently above 9%.

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