24.01.2005 |
"HARVEST BROUGHT IN"
As already announced in November, UNIQA is expecting an IAS group profit on ordinary activities for 2004 that is around 50% over the € 68,3 million of the previous year, and thus, for the first time, three figures.
With the takeover of the Italian life-insurer, Claris Vita in December 2004, and the upcoming acquisition of 100% of the Mannheimer Health Insurance PLC (after liberalization through the control authorities for the takeover), the UNIQA Group experienced a further growth spurt and extended its portfolio considerably. These two companies are not going to be taken into consideration on the balance sheet until 2005 owing to consolidation guidelines. Since it came into existence just over 5 years ago, UNIQA has risen from being an Austrian insurance company with participation in very few companies abroad and a share in them of approximately 5% to being an important player in the whole central European area.
"In the last 5 years, we have strengthened our position through acquisitions and our own growth not only on the Austrian domestic market, in Slovakia, the Czech Republic, Italy, Croatia and Switzerland, but also through extending our activities to Poland, Hungary, Germany and Liechtenstein. We have come much closer to our goal, not only of leading the market in Austria, but also of becoming the largest Austrian insurance group in Central Europe," comments UNIQA CEO, Constantin Klien. "At the same time, after the trailblazing fusion of Bundesländer/Raiffeisen and Austria/Collegialität and the introduction of UNIQA as a brand name, we have succeeded in making more than ten acquisitions and mergers in eight European countries and forging a single, uniform corporation out of the individual companies. Today, not only does every third premium already come from outside Austria, but the premiums are earned within the context of a uniform organisational structure."
Klien is expecting approximately 50% more profit for 2004 than in the previous year (€ 68.3 million) for the UNIQA Group, which is the first Austrian insurance company to have been drawing up its balance sheet since 2000 according to international accounting regulations. According to Klien, "After we succeeded in doubling the group's profits back in 2003, the € 100 million limit is going to be exceeded for 2004 and the harvest brought in. This is the result of growth, improved cost and claims situations, and positive development on the capital markets. It is also evidence that UNIQA's expansion is being carried out with circumspection and not at any price. On the domestic market, we have even succeeded in increasing productivity in the costs area by around € 34 million, while expanding our sales and marketing capacity and utilizing the synergies resulting from the AXA integration at the same time."
Vienna, 24. January 2005