31.05.2006 |
- Fully consolidated premium volume increased by 10% to EUR 1,195.6 million
- Profit after taxes of EUR 37.8 million, 21.9% above this period of the previous year
- Profit on ordinary activities of EUR 45.0 million, significantly above this period of the previous year
- International share in an group premium volume and profit on ordinary activities grew by about one third
In the first quarter of 2006, the UNIQA Group achieved 10% growth in fully consolidated premiums written to reach EUR 1,195.6 million. Included here are the savings portion of the unit- and index-linked life insurance products in the amount of EUR 102.1 million (+65.9%). The Austrian group companies contributed 68.0% to the premium volume with a total of EUR 812.7 million. During the course of the disproportionately large growth of the companies outside of Austria - by 33.8% to EUR 382.9 million - their share in the total group premiums increased to 32.0%. At EUR 37.8 million, the profit after taxes is 21.9% higher than the value in the same period of the previous year. The companies of Central, Eastern and Southeast Europe have already contributed EUR 14.7 (+24.0%) million or 32.7% of the profit on ordinary activities totalling EUR 45.0 million (+8.1%).
In property and casualty insurance, the total premiums earned in the first three months of 2006 increased by 7.6% to EUR 426.2 million. Of this, EUR 253.8 million (59.5%) results from Austria and EUR 172.4 million (40.5%) from international business.
In the area of life insurance, the premiums earned rose from EUR 501.1 million to EUR 546.5 million (+9.1%) with inclusion of the savings portion from the unit- and index-linked products. In Austria, it was possible to recover from the large number of expirations for contracts with reduced premium payment periods through a premium volume of EUR 383.0 million. In Central, Eastern and Southeast Europe, the premiums from life insurance grew particularly strongly by 35.6% to EUR 163.5 million. This makes the share of international business in this line already 29.9%.
The premiums earned from health insurance increased at the group level by 17.5% to EUR 222.8 million. The premiums in Austria reached EUR 175.8 million or 78.9 % of the group premium volume of this line. Outside of Austria, the premiums from health insurance were increased by 165.5% to EUR 47.0 million - also through the complete consolidation of Mannheimer Krankenversicherung. In line with the strong growth outside of Austria, the international portion of the premiums in this line rose from 9.3% to 21.1%.
The entire loss expenses and benefits paid of the UNIQA Group including the change in actuarial provision increased in the 1st quarter of 2006 by 10.2% to EUR 1,063.9 million during the course of expanding the consolidation scope and as a result of the harsh winter.
The total investments of the UNIQA Group as of the end of the 1st quarter of 2006 amounted to EUR 19,689.2 million. Compared to the same period of the previous year, this corresponds to an increase of EUR 2,004.4 million or 11.3%. The net investment income increased over the reporting period by 32.0% to EUR 274.4 million.
The total operating expenses rose by 12.1% to EUR 256.2 million. Despite acyclic investments in the IT area during the 1st quarter of 2006, the cost ratio was 21.4%, only slightly above the value from the same period of the previous year (21.0%).
At EUR 37.8 million, the profit after taxes after the first three months is 21.9% higher than the value in the same period of the previous year.
Due to the consistent implementation of the increased earnings program both domestically and abroad, UNIQA expects profits on ordinary activities in the current year that are higher by approximately 20%, amounting to approximately EUR 228 million.
Vienna, 31. May 2006