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24.05.2020

Uniqa Insurance Group: Picking up by 3.2 per cent to Euro 1,578.3 mn, premium income at Uniqa Insurance Group AG was significantly better than in the first quarter of the previous year. Premiums written enjoyed growth in health insurance (up 5.1 per cent), in property and casualty insurance (up 3.7 per cent) and in life insurance (up 0.3 per cent), as the effects of COVID-19 on sales were still barely noticeable in the first three months. This caused premiums to rise considerably more than insurance benefits (up 2.2 per cent), although these already included initial provisions of Euro 37.5 mn in connection with COVID-19 and other expenses for the storm front “Sabine” and an earthquake in Albania. The combined ratio in property and casualty insurance deteriorated from 96.3 per cent in the first quarter of the previous year to 97.8 per cent. Consolidated net profit (net profit for the period attributable to the shareholders of Uniqa Insurance Group AG) declined to Euro – 13.2 mn (January to March 2019: Euro 32.2 mn). In light of the high levels of uncertainty regarding the macroeconomic and financial impact of COVID-19, which extends to the rest of the year, Uniqa cannot maintain its outlook for the 2020 financial year, which anticipated profit on ordinary activities in 2020 at a similar level to that of 2019. Uniqa thus expects the possibility of negative earnings before taxes for 2020 as a whole.
Uniqa: weekly performance: 0.68%

Addiko Bank: The Chief Financial Officer (CFO) of Addiko Bank AG, Johannes Proksch, has expressed his willingness to resign from his function as a member of the Management Board to the Supervisory Board. The decision was made for differing views. Details will be formally finalized within the next few days.
Addiko Bank: weekly performance: -2.25%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (22/05/2020)


 

Bildnachweis

1. UNIQA Burgenland: Die aktuelle Marktstatistik des Versicherungsverbandes VVO weist für Uniqa im Burgenland einen Marktanteil von 28,3 Prozent aus. Das macht Uniqa im Burgenland zum klaren Marktführer. Im Bild: Alfred Vlcek, Uniqa Landesdirektor Burgenland, Credit: Rudi Froese



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