STATISTICS:

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

GENERALI successfully placed a subordinated bond for EUR 500 million

Generali has launched on 21 January a subordinated bond with a 10 years bullet format targeting institutional investors for an overall amount of EUR 500 million. At the initial yield guidance of 4.625%, the issuance attracted around 450 orders for more than EUR 6.5 billion, more than 13 times the target size.

2019-01-22

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

2019-01-18

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all