UNIQA Q1 EBT more than doubled to EUR 73.9 million

Austrian insurer UNIQA announced its Q1 premiums increased by 1.6% y-o-y to EUR 1.53 billion while the EBT more than doubled increasing by 122.9% to EUR 73.9 million.

Premiums written in property and casualty insurance climbed by 6.5% y-o-y to EUR 868.8 million, while in health insurance the same indicator rose by 3.9% to EUR 280.1 million. In life insurance, total premiums written including the savings portion of unit- and index-linked life insurance - driven by the planned reduction of single premiums in international business (Poland) - declined by 9.4% to EUR 386.5 million.

In international business, premiums written in property and casualty insurance climbed by an impressive 11.3% to EUR 307.4 million and those in health insurance by 23.7% to EUR 19.7 million, while life insurance premiums written fell by 25.0% to EUR 100.9 million, due to the planned decrease in single premiums, especially in Poland. Overall, UNIQA generated written premiums in international business including savings portions of EUR 428.0 million, 0.3% more y-o-y.

In Austria (GWP of EUR 1.09 billion, 2.3% more y-o-y), UNIQA recorded a significant increase in property and casualty premiums of 4.6% to EUR 553.9 million, while health insurance premiums moved up by 2.6% to EUR 260.4 million. Premiums written in life insurance fell by 2.0% to EUR 283.6 million.

The Group cost ratio improved by one percentage point to 24.9% (1-3/2017: 25.9 per cent), while the combined ratio improved to 97.4% (vs. 97.7% a year before).

Investment income rose by 89.3% y-o-y to EUR 143.4 million, while the underwriting result fell by 40.2% y-o-y to EUR 24.2 million. In contrast, operating earnings increased by 81.6% to EUR 87.2 million while earnings before taxes was up by 122.9% to EUR 73.9 million.

Consolidated net profit (net profit for the period attributable to the shareholders of UNIQA Insurance Group AG) increased by 87.0% to EUR 54.4 million (vs. EUR 29.1 million), while earnings per share amounted to EUR 0.18 (vs. EUR 0.09).

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

AXA leaves the Ukrainian insurance market

AXA announced on 23 October it had entered into an agreement with Fairfax Financial Holdings Limited, through its subsidiary FFHL Group Ltd., ("Fairfax") to sell all its insurance operations in Ukraine and exit the Ukrainian market.

2018-10-23

US antitrust approval granted for MMC's acquisition of JLT Group

Marsh & McLennan Companies (MMC) and Jardine Lloyd Thompson Group (JLT) have confirmed that October 10 the Federal Trade Commission (FTC) granted early termination for the waiting period under the Hart-Scott-Rodino Act, with respect to MMC's previously announced acquisition of JLT.

2018-10-18

Mark WILSON steps down as CEO of AVIVA

AVIVA announced Mark WILSON and the Board have agreed that Mark is stepping down as CEO of the group. "Mark will remain with the group until April 2019 and will assist with the planned and orderly transition".

2018-10-11

ON THE MOVE

Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.

11.10.2018

TOP EVENT

HOEPKE, Munich Re: I expect at least a stable renewal round in 2019

After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.

22.10.2018

photodune-3834701-laughing-girl-xs

Five new XPRIMM insurance reports on the Baden Baden stands

Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.

21.10.2018

See all