27.11.2015,
7396 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
9-month report
UNIQA remains on track in the third quarter 2015
· Premiums written (including savings portion) increased by 8.3 per cent to
EUR 4,866.1 million · Combined ratio improved from 99.0 per cent to 98.0 per
cent · Group cost ratio reduced from 22.7 per cent to 21.4 per cent · EBT of
EUR 301.9 million (+9.7 per cent) · Consolidated net profit rose by 29.6 per
cent to EUR 245.0 million
In the first nine months of 2015, UNIQA Insurance Group AG (UNIQA Group)
generated an operating profit of EUR 340.4 million (+10.6 per cent; 1-9/2014:
EUR 307.9 million). Profit from ordinary activities (EBT) amounted to EUR 301.9
million (+9.7 per cent; 1-9/2014: EUR 275.2 million). Consolidated net profit
(after taxes and minority interests) amounted to EUR 245.0 million (+29.6 per
cent; 1-9/2014: EUR 189.1 million).
Andreas Brandstetter, CEO of UNIQA Insurance Group AG: "Our strong earnings
performance was due particularly to positive performance in health insurance
and a significant rise in profitability in international business. In addition
to this we were able to reduce the cost ratio and have also improved the
combined ratio despite the negative impact of the hailstorms in the third
quarter. In view of the challenges posed by the continuing low interest rate
environment, which will particularly affect net investment income in life
insurance, as well as the weak economic situation in parts of Europe, we are
continuing to focus on our core business and in the process are concentrating
on continuously improving our insurance operating business. We are keeping to
our ambitious earnings outlook for 2015."
Key Group figures 1-9/2015
Premiums written by UNIQA Group, including the savings portion of unit- and
index-linked life insurance, increased by 8.3 per cent to EUR 4,866.1 million
in the first nine months of 2015 (1-9/2014: EUR 4,492.6 million). This increase
is primarily attributable to very strong growth in single premium business in
life insurance in the first three months of the year - particularly in
bank-based sales in Italy - and good development in the area of health
insurance. While recurring premiums rose by 0.2 per cent across all business
areas, single premiums in life insurance climbed by 58.5 per cent. Premiums in
property and casualty insurance rose only slightly to EUR 2,029.6 million (+0.3
per cent; 1-9/ 2014: EUR 2,024.2 million) as a result of restraint in the
highly competitive vehicle business in CEE. Premiums written in life insurance
were up 19.6 per cent at EUR 2,087.5 million (1-9/2014: EUR 1,744.8 million),
while premium income in health insurance increased by 3.5 per cent to EUR 749.1
million (1-9/2014: EUR 723.6 million).
Retained premiums earned (in accordance with IFRS, not including the savings
portion of unit- and index-linked life insurance) increased by 10.4 per cent to
EUR 4,307.6 million (1-9/2014: EUR 3,900.7 million).
The UNIQA Group's net insurance benefits increased by 10.6 per cent to EUR
3,512.5 million in the first nine months of 2015 (1-9/2014: EUR 3,175.5
million) primarily as a result of the substantial increase in premiums in life
insurance. This figure includes costs of EUR 28.6 million resulting from the
hailstorms in the third quarter.
Total operating expenses less reinsurance commissions increased by 3.0 per
cent to EUR 998.5 million compared with the same period of the previous year
(1-9/ 2014: EUR 969.1 million). Despite the strong premium growth, operating
expenses for acquisition only rose by 4.3 per cent to EUR 708.5 million
(1-9/2014: EUR 679.2 million). From January to September 2015, other operating
expenses (administrative expenses) remained exactly the same as in the previous
year at EUR 289.9 million.
The Group cost ratio (after reinsurance) improved by 1.3 percentage points
from 22.7 per cent to 21.4 per cent. However, the cost ratio will increase
again somewhat by the end of the year when premium growth levels off as planned
and expected.
The combined ratio (after reinsurance) improved by 1.0 percentage points to
98.0 per cent despite the negative impact of the hailstorms (1-9/2014: 99.0 per
cent).
Net investment income climbed by 2.8 per cent to EUR 618.0 million in the
first nine months of 2015 (1-9/2014: EUR 601.5 million). This is chiefly due to
lower losses from the disposal of investments and continued reorganisation of
the strategic investment policy.
The investment portfolio of UNIQA Group (including unit- and index-linked
life insurance investments) increased by 1.8 per cent as against the end of the
previous year to EUR 29,740.6 million as at 30 September 2015 (31 December
2014: EU R29,212.7 million).
UNIQA Group's profit from ordinary activities amounted to EUR 301.9 million,
up 9.7 per cent compared to the same period of the previous year (1-9/2014: EUR
275.2 million).
Consolidated net profit (after taxes and minority interests) increased by
29.6 per cent to EUR 245.0 million (1-9/2014: EUR 189.1 million). Earnings per
share amounted to EUR 0.79 (1-9/2014: EUR 0.61). The return on equity after
taxes and minority interests rose to 10.6 per cent in the first three quarters
of 2015 (1- 9/2014: 8.7 per cent).
UNIQA Group's equity increased by 0.6 per cent to EUR 3,081.9 million (31
December 2014: EUR 3,063.5 million). The solvency ratio (Solvency I) remained
stable at 295.1 per cent (31 December 2014: 295.4 per cent).
The number of employees at the UNIQA Group fell to 14,038 (1-9/2014:
14,451).
Outlook For 2015, the UNIQA Group has set itself the target of increasing
its profit on ordinary activities to between EUR 425 million and EUR 450
million. This assumes that the capital market environment will be stable, that
economic development will improve moderately and that losses caused by natural
disasters will remain within a normal range.
Forward-looking statements This press release contains statements referring
to the future development of the UNIQA Group. These statements present
estimates which were reached on the basis of all of the information available
to us at the present time. If the assumptions on which they are based do not
occur, the actual results may deviate from the results currently expected. As a
result, no liability is accepted for this information.
UNIQA The UNIQA Group is one of the leading insurance groups in its core
markets of Austria and Central and Eastern Europe (CEE). 22,000 employees and
exclusive sales partners serve more than 10 million customers in 19 countries.
UNIQA is the second-largest insurance group in Austria with a market share of
around 22%. UNIQA operates in 15 markets in the CEE growth region: Albania,
Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo,
Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, and Ukraine.
The UNIQA Group also includes insurance companies in Italy, Switzerland and
Liechtenstein.
end of announcement euro adhoc
company: UNIQA Insurance Group AG
Untere Donaustraße 21
A-1029 Wien
phone: 01/211 75-0
mail: investor.relations@uniqa.at
WWW: http://www.uniqagroup.com
sector: Insurance
ISIN: AT0000821103
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/220/aom
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Akt. Indikation: 7.45 / 7.48
Uhrzeit: 20:56:01
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Letzter SK: 7.48 ( -0.13%)
Bildnachweis
1.
Renzo Giovanni Avesani (Chairman CRO Forum und CRO Unipol), Kurt Svoboda (CRO / CFO Uniqa Insurance Group) : Chief Risk Officers treffen sich in Wien : Auf Einladung von Kurt Svoboda, Chief Risk und C
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