10.11.2004 |
- Premiums increased by 20%
- Foreign premiums increase by 65.3%
- Benefits grow underproportionally
- Three-figure profit on ordinary activities (IAS) expected for 2004
The UNIQA Group increased its written premiums by 20.0% to € 2672 million in the first three quarters of 2004 compared with the same period in 2003. According to international accounting regulations, savings premiums from fund-linked life insurance amounting to € 96.6 (+52.4%) were not taken into consideration. The increase in insurance benefits of 14.2% or € 2032.4 million remained clearly behind the growth in premiums.
For the financial year 2004, UNIQA is expecting a profit on ordinary activities of around 50% above the amount of€ 68.3 million from 2003, according to international accounting regulations, i.e. the first 3-figure amount ever, as long as there are no extraordinary developments in claims or on the capital markets in the remaining months.
The most notable result in the first 9 months of the current year was the increase in premiums in insurance against loss or damage and in accident insurance by 31.7% to € 1 251.2 million. In life insurance, written premiums rose by 17.0% to € 861.1 million, which, if the savings share from fund-linked life insurance were to be included, increased by 19.8% to € 957.8 million. In health insurance, premiums grew by 3.4% to 559.6 million.
Benefits in insurance against loss or damage and in accident insurance rose by 22.0% to € 653.7 million, in life insurance by 16.0% to € 890.5 million and in health insurance by 2.6% to 488.1 million.
When the results are analysed according to regions, 2 212.9 million (+13.6%) of the written premiums are accounted for by Austria and € 459.1 million (+65.3%) by the remaining 9 Central European countries in which UNIQA is active. The foreign share of the premiums has already risen to 17.2%, although the Mannheimer was only included in the 3rd quarter of 2004 and the former R+V companies in Poland and Slovakia only in the 2nd and 3rd quarters. The Mannheimer Krankenversicherung and the Italian Claris Vita have not yet been included in the data (the UNIQA Group's 9-month report will be published at the end of November).
UNIQA takes over 51% of shares in Mannheimer Krankenversicherung AG from Continentale Holding AG UNIQA and the Continentale Holding AG have agreed that UNIQA is to take over 51% of the shares in the Mannheimer Krankenversicherung from the Continentale Holding AG. Concrete details of the deal are going to be arranged over the next few weeks. The share transfer is to take place on January 1, 2005 - subject to approval by the authorities.
The Continentale Holding AG held the most of the share capital in the Mannheimer Krankenversicherung in August 2003. The remaining 49% belongs to the Mannheimer AG Holding, which is noted on the stock exchange.
In a further step, UNIQA also intends to take over the 49% share of the equity of the Mannheimer Krankenversicherung held by the Mannheimer AG Holding.
The Mannheimer Krankenversicherung was founded in 1991, has a staff of 75 and made € 122.4 million from premiums from 66 600 polices in 2003.
Vienna, 10. November 2004