29.04.2011 |
- Premium growth of 8.4% in the group to a total of EUR 6,224 million
- Profit before taxes of 153 million euros were more than 50% higher than those of 2009 (EUR 100 million)
- Dividend distributions should remain unchanged at 40 cents per share
- Growth in the first three months of 2011
- Change in the company's top management at the end of July 2011
According to the fully audited data for the balance sheet for the year 2010, the UNIQA Group Austria achieved a growth in the premium volume written (including the savings portion from the unit-linked and index-linked life insurance) of 8.4% to EUR 6,224 million. Thanks to the consistent growth dynamic, this allowed the UNIQA Group to leap the premium hurdle of EUR six billion for the very first time. As a result of the growth, an improved cost ratio and strongly increased financial results, the results of the ordinary act ivities were able to be significantly increased and, at EUR 153 million, are more than 50% higher than the values of the previous year at EUR 100 million. An unchanged dividend of 40 cents per share will be suggested at the annual general meeting on 30 May 2011.
UNIQA in Austria: The UNIQA Group in Austria was able to increase the total value of premiums written (recurring and single premiums) in 2010 by 1.9% to EUR 3,829 million. The property and casualty insurance indicated above-average growth rates of +2.9% (to EUR 1,362 million) as well as health insurance with 2.3% (to EUR 791 million). In terms of life insurance, a very pleasant premium dynamic for the products subject to recurring premiums more than compensated for the drop in the sector of the classic single premium products. The overall premium growth in the sector of life insurance amounts to 1.0%.
UNIQA in Eastern and South-Eastern Europe: The UNIQA Group was able to raise the premiums in Eastern and South-Eastern Europe by 12.2% to EUR 1,294 million in the year 2010. In terms of property and casualty insurances - which includes more than 60% of the premiums in this region - the premiums were able to be increased by 12.5% to EUR 821 million. The life insurance premiums grew by 11.7% to EUR 456 million and those in health insurance grew by 16.4% to EUR 17 million. The share of Eastern and South-Eastern Europe in the Group premiums amounted to 20.8% in the year 2010.
UNIQA in Western Europe: In Western Europe, the companies of the UNIQA Group earned premiums in the amount of EUR 1,101 million last year - 32.6% more than in the year 2009. This development was especially marked by the massive demand for life insurance in Italy. The share of Western Europe in the Group premiums amounted to 17.7% in the year 2010.
Group growth according to segments Group-wide, life insurance achieved a growth in premiums of 13.1% to EUR 2,664 million; this was the strongest growth within the individual insurance segments.
UNIQA increased the premiums in property and casualty insurance in the year 2010 by 5.9% to EUR 2,590 million.
In the health insurance segment, UNIQA increased the premiums in the year 2010 across all regions by 3.5% to EUR 970 million.
Above-average growth, improved financial results and positive developments for the cost ratio allowed, despite natural disasters and major claims, results from the ordinary activities to be increased to EUR 153 million - the dividend distributions remain unchanged at 40 cents per share The insurance benefits (before reinsurance) to the customers of the UNIQA Group and the corresponding provisions increased by 6.6% in the year 2010 to EUR 4,566 million. The total operating expenses increased by 7.4% to EUR 1,346 million in comparison to the previous year.
The investments, including unit-linked and index-linked life insurances, were increased by the UNIQA Group in 2010 by 7.1% to EUR 24,246 million. The net income from investments was able to be increased in the year 2010 by 17.3% to EUR 841 million.
The results of ordinary activities (as recognised by the IFRS and before consideration of the Hungarian special tax for the financial sector in the amount of approximately EUR 7 million) amounted to EUR 153 million in the past fiscal year (in comparison with EUR 100 million in the year 2009). As a result, the Group results for 2010 were more than 50% above those of the previous year.
Unchanged dividend payouts of 40 cents per share will be proposed at the Annual General Meeting.
First quarter 2011 with growth impulses According to the preliminary data, the UNIQA Group has been able to solidly increase the premiums during the first three months of the current years - the premium volume (according to local accounting standards, not consolidated accounting standards) rose by 3.5% to EUR 1,768 million.
The growth in property and casualty insurance at approximately 5.8% and in health insurance at approximately 4.3% were both above-average. In terms of life insurance, the recurring premiums continue to indicate a very dynamic development while the single premiums have declined, especially due to a phase shift. After three months, the overall premium growth in life insurance amounted to 0.4%.
In Austria, the companies of the UNIQA Group achieved premiums in the amount of EUR 1,052 million (+0.9%) in the first three months of 2011. The premiums from the international business were able to be increased by 7.6% to EUR 715 million.
On 1 July 2011, Brandstetter will follow Klien as Chairman of the Board As was already announced, Andreas Brandstetter will take over from Konstantin Klien as Chairman of the Board of UNIQA Versicherungen AG on 1 July 2011. Brandstetter and his management board team will present their work plans for the corporate group by the end of the second quarter to the bodies of the company.
Reservations concerning statements about the future This message contains statements that refer to future developments in the UNIQA Group Austria. These statements are appraisals that are made based on all information available to us at the current point in time. If the assumptions on which they are based do not occur, the actual events may vary from the results currently expected. For this reason, we cannot accept liability for these statements.
Vienna, 29. April 2011