17.05.2013 |
- Premiums written increased by 9.8 per cent to 1,664.0 million euros
- Combined ratio improved from 99.4 per cent to 98.3 per cent
- Profit on ordinary activities increased by 97 per cent to 116.8 million euros
- Consolidated net profit improved by 149.8 per cent to 76 million euros
- Embedded Value 2012 increased by 86.2 per cent to 2,875.8 million euros
The UNIQA Group (UNIQA) increased the profit on ordinary activities (EBT) by 97 per cent to 116.8 million euros (1Q 2012: 59.3 million euros) in the first quarter of 2013. This figure includes the profit from the sale of hotel holdings amounting to 49.1 million euros. Adjusted for this effect, EBT has risen by 14.2 per cent to 67.7 million euros. Consolidated net profit (after taxes and minority interests) increased by 149.8 per cent to 76 million euros (1Q 2012: 30.4 million euros).
UNIQA has sold its shares in the Mannheimer Group in the second quarter of 2012. In compliance with IFRS 5, its figures are therefore no longer included in the comparative data for the first quarter of 2012.
Total premiums written – including the savings portion of unit- and index-linked life insurance – increased by 9.8 per cent to 1,664.0 million euros (1Q 2012: 1,514.8 million euros). The consolidated cost ratio after reinsurance declined to 22.3 per cent (1Q 2012: 25.0 per cent). The combined ratio (loss cost ratio in property and casualty insurance) after reinsurance improved to 98.3 per cent (1Q 2012: 99.4 per cent). The return on equity (ROE) after taxes and minority interests amounted to 11.1 per cent. This figure is slightly below last year‘s figure (1Q 2012: 12.7 per cent) due to the increase in total equity which has almost doubled.
The adjusted1) return on equity (ROE) after taxes and minority interests decreased slightly from 12.7 per cent to 11.1 per cent in the 1st quarter of 2013 due to the roughly doubled underlying shareholders’ equity.The adjusted (for the profit from the sale of hotel holdings) return on sales (ROS) was 4.7 per cent (1Q 2012: 4.6 percent).
Group Embedded Value in the 2012 financial year:
The UNIQA Group’s market consistent embedded value after minority interests increased by 86.2 per cent to 2,875.8 million euros in the 2012 financial year (2011: 1,544.6 million euros).
The market consistent embedded value, which was compiled in accordance with international guidelines, estimates the value of the Group’s insurance policies and is composed of the net assets for life, health and property/casualty insurance as well as the present value of future earnings from existing life and health insurance policies. UNIQA’s life and health insurance in Austria, Italy, Poland, Slovakia, the Czech Republic and in Hungary was taken into consideration.
B & W Deloitte GmbH, Cologne audited the UNIQA Group’s market consistent embedded value in its entirety.
Issuer:
UNIQA Group:
Untere Donaustrasse. 21
1029 Vienna, Austria
Telephone: +43 (01) 211 75-0
Branch: Insurance
ISIN: AT0000821103
Indices: ATX Prime, ATX FIN, WBI, VÖNIX
Stock exchange: Vienna
Vienna, 17. May 2013