Vienna (APA-ots) –
* Premiums written up 7.9 percent to 3.7 billion euros
grown
* Underwriting revenue up 10.7 percent to 2.9
billion euros increased
* Significant growth in profit before tax at 216 million
Euro
* Sale of the subsidiary Raiffeisen Life in Moscow:
withdrawal from Russia
With premium growth of 7.9 percent to 3.7 billion euros and
a clear increase in earnings to 216 million euros
UNIQA Insurance Group AG will also be paying taxes in the first half of 2023
strong numbers again. “The decisive factor is still very much
good operational performance, in Austria and especially in ours
international markets. This is also above expectations
financial result. The moderate has also contributed
Claims development in the first half of 2023 – however, we can see that the
Damage due to the storms in the summer months of July and August
increased,” says Andreas Brandstetter, CEO of UNIQA Insurance
group.
UNIQA, which owns 75 percent of the company, sells together
with AO, which belongs to the Raiffeisen Bank International group
Raiffeisenbank, which owns 25 percent of the shares, the Russian
Company Raiffeisen Life to the Russian
Insurance company Renaissance Life. Wolfgang Kindl, Board Member
Kunde & Markt International: “Already immediately after the start of the war
we have largely stopped new business in Russia and
no further investments made. We have in the past
year together with our joint venture partner, the AO
Raiffeisenbank, all options in this also legally complex
environment checked. Now we continue selling our Russian
Subsidiary, which accounts for significantly less than one percent of the
Group sales is responsible and therefore a subordinate
role in our portfolio and the associated
Withdrawal consistently the last step in Russia.” The sale
based on those specified by the Russian authorities
processes and restrictions and is subject to all
regulatory approvals. The purchase price was kept silent
agreed.
Key figures 1 – 6/2023
UNIQA Insurance Group AG accounts according to the new
Accounting standards IFRS 9 and IFRS 17, effective January 1st
to be applied in 2023. The comparative values for 2022 will also be
according to IFRS 9/17. The calculated premiums that are not part
of the IFRS 9/17 reporting are still mentioned.
The premiums written by UNIQA Insurance Group AG included
the savings portion of unit-linked and index-linked life insurance
increased in the first six months of 2023 compared to
by 7.9 percent to EUR 3,707.3 million (1 –
6/2022: 3,436.0 million euros). In particular, damage and
Accident insurance and health insurance contributed to this greatly
pleasing growth.
The insurance turnover – the underwriting proceeds after
IFRS 17 – the UNIQA Group increased in the first two quarters of 2023
by 10.7 percent to 2,919.6 million euros (1 – 6/2022: 2,637.0
million euros), to which all divisions and segments contributed:
Property and casualty insurance increased by 13.1 percent
health insurance by 6.5 percent and life insurance by 6.1 percent
percent increased. In Austria, insurance sales rose by 8.1%
percent, in the international companies by 13.2 percent.
UNIQA’s underwriting result was 267.7
million euros (1 – 6/2022: 298.7 million euros) on a good note
level are maintained.
The investment result rose to 324.8 in the first half of 2023
million euros (1 – 6/2022: -116.9 million euros) – carried forward
mainly due to significantly lower impairments compared to
Previous year. This increased the financial result, which at 72.7
million euros was above expectations.
The UNIQA Group’s earnings before taxes improved significantly
to 215.9 million euros (1 – 6/2022: 91.4 million euros). The
Consolidated result (the shareholders of UNIQA Insurance Group AG
attributable portion of the result for the period) increased by 97.2
percent to 171.6 million euros (1 – 6/2022: 87.0 million euros).
The regulatory capital ratio under Solvency II, which is
The benchmark for capitalization was at UNIQA on the reporting date
June 30, 2023 at a high level of 244 percent.
Results in the business areas
property and casualty insurance
The premiums written in property and casualty insurance
grew by 11.7 percent in the first six months of 2023
to 2,188.8 million euros (1 – 6/2022: 1,960.0 million euros).
The gross combined ratio (gross combined ratio) in the
Property and casualty insurance has improved from an already good 90.4
Percent further improved to 89.2 percent in the first half of 2023. For that
were the strong growth, a good run-off result and
low burdens from major losses and natural catastrophes
responsible.
health and life insurance
In health insurance, the premiums charged in
1st half of 2023 growth of 8.7 percent to 693.8 million
euros (1 – 6/2022: 638.3 million euros).
In life insurance decreased in the reporting period
the premiums written including the savings portion of the fund and the
index-linked life insurance, on the other hand, rose slightly by 1.5 percent
824.7 million euros (1 – 6/2022: 837.6 million euros).
New business in health and life insurance in the first
Half-year 2023 still at a good level. The new business margin
was 4.5 percent with a new business value of 52.2 million
Euro.
Increased Contractual Service Margin
amounted to EUR 5,997.1 million as of June 30, 2023 (December 31, 2022:
5,414.0 million euros).
This balance sheet item, new since IFRS 17, will be issued in the future
the contracts of long-term business in the life and
health insurance expected profits.
outlook
UNIQA is striving to continue the 2023 financial year
improvements in the core business. However, the ongoing
Fiscal year 2023 – like the fiscal year 2022 – because of
the expected unstable macroeconomic development of
significant uncertainties, including
volatile capital markets, high interest rate sensitivities
capital investments, uncertainty about the development of inflation and
tendentially increasing losses from natural catastrophes. Those are them
Reasons why no outlook for the 2023 financial year
Earnings development can be given. The shedding of
Dividend is based on company success. Despite the
challenging economic and political environment, UNIQA is planning
continues with an attractive development of the annual payout.
Further information and details are included in the
Half-Yearly Financial Report 2023 and the corresponding presentation, the
both in [Investor Relations Bereich auf der Webseite von UNIQA]
(https://www.uniqagroup.com/grp/investor-relations/publications/beric
hte-presentations.de.html) can be found.
Reservation for future statements
This release contains statements relating to the future
development from UNIQA. These statements represent estimates
which is based on all available to us at the current time
information has been taken. Should the perish
If the assumptions made do not materialize, the actual
Results may vary from currently anticipated results. One
Therefore, no guarantee can be given for this information.
Query note:
Klaus Kraigher
press secretary
UNIQA Insurance Group AG
Untere Donaustrasse 21
A-1029 Vienna
Mobile: +43 664 8231997
Email: [email protected]
Digital press kit: http://www.ots.at/pressemappe/220/aom
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