09.03.2016,
6713 Zeichen
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
other/Company Information/Preliminary results/Dividend/Group structure/Board
of
Directors/Outlook 2016
09.03.2016
UNIQA Insurance Group AG / increased earnings and improve in dividend for
2015; more streamlined Group structure and merger of operating insurance
companies in Austria;
- Preliminary results for 2015: Earnings before taxes climb to EUR423
million in 2015; premiums written up 4.3 per cent; dividend increase proposed
for 2015
- New, more streamlined Group structure resolved - subject to permission of
authorities: Group holding company UNIQA Insurance Group AG to have 3
Management Board members instead of previous 5; merger of Raiffeisen
Versicherung AG, Salzburger Landes-Versicherung AG and FinanceLife
Lebensversicherung AG with UNIQA Österreich Versicherungen AG as the acquiring
entity; number of Management Board members of the Austrian Group companies
(including the holding company) to be reduced from 22 to 10
- Preliminary results for 2015: Based on preliminary data, the UNIQA
Insurance Group (UNIQA) increased its earnings before taxes by 11.9 per cent to
EUR422.8 million in the 2015 financial year, thus achieving the highest
earnings in the company's history. Premiums written - including the savings
portion of unit- and index-linked life insurance - were up 4.3 per cent at
EUR6,325.1 million. Retained premiums earned in accordance with IFRS (i.e. not
including the savings portion of unit- and index-linked life insurance) rose by
6.0 per cent to EUR5,633.5 million. Retained insurance benefits increased by
5.1 per cent to EUR4,607.6 million and thus moved up at a somewhat slower rate
than retained premiums earned. Costs (operating expenses) remained on a par
with the previous year's level at EUR1,298.7 million in 2015. The Group cost
ratio after reinsurance improved from 22.2 per cent to 21.3 per cent. The
combined ratio after reinsurance improved from 99.6 per cent to 97.8 per cent.
Consolidated profit (after taxes and minority interests) was up 14.2 per cent
year-on-year at EUR331.1 million.
The Management Board will propose to the Supervisory Board and Annual
General Meeting that a dividend of 47 cents per share - 11.9 per cent higher
than the dividend for 2014 of 42 cents - be paid for the 2015 financial year.
- New, more streamlined Group structure resolved: Based on the successful
and systematic implementation of the UNIQA 2.0 strategy programme that has been
running since 2011 with improved earnings for the 2015 financial year, and
after resolving a comprehensive innovation and investment programme of EUR500
million in January 2016, UNIQA is gearing the Group structure to the strategic
goals and challenges of the future.
On 9 March 2016, the Management Board and Supervisory Board of UNIQA
resolved - subject to the necessary regulatory approval - a new, streamlined
Group structure with a functional organization and Group-wide responsibilities:
- In future, the listed holding company UNIQA Insurance Group AG will have
three Management Board members instead of the previous five. - The four primary
insurers currently operating on the Austrian market - UNIQA Österreich
Versicherungen AG, Raiffeisen Versicherung AG, FinanceLife Lebensversicherung
AG and Salzburger Landes-Versicherung AG - are to be merged by no later than
the first quarter of 2017, with UNIQA Österreich Versicherungen AG acting as
the acquiring entity. - The number of Management Board members of the Austrian
Group companies (including the holding company) is to be reduced from 22 to 10.
Starting from 1 June 2016, the Management Board of UNIQA Insurance Group AG
will consist of
Andreas Brandstetter (CEO),
Kurt Svoboda (CFO/CRO) and new
Management Board member
Erik Leyers (COO). Their Management Board mandates will
be run until 30 June 2020. Kurt Svoboda and Erik Leyers will take on the same
Management Board roles at UNIQA Österreich Versicherungen AG and at UNIQA
International AG in personal union. The current members of the holding
company's Management Board
Hannes Bogner and
Thomas Münkel will leave the
company by theirs request, while
Wolfgang Kindl will focus on his
responsibilities as CEO of UNIQA International AG.
Starting from 1 June 2016, the Management Board of UNIQA Österreich
Versicherungen AG will consist of Hartwig Löger (CEO, Sales), Klaus Pekarek
(Bancassurance), Kurt Svoboda (Finance & Risk), Erik Leyers (Operations), Peter
Eichler (Life and Health) and Andreas Kößl (Non-Life). Peter Eichler and
Andreas Kößl will take on the same Management Board roles at UNIQA
International AG in personal union.
Starting from 1 June 2016, the Management Board of UNIQA International AG
will consist of Wolfgang Kindl (CEO), Zoran Visnjic (Sales), Johannes Porak
(Bancassurance), Kurt Svoboda (Finance & Risk), Erik Leyers (Operations), Peter
Eichler (Life and H) and Andreas Kößl (Non-Life).
- Outlook: In 2016 UNIQA is launching a comprehensive innovation programme
and will invest around EUR500 million in the redesign of the business model,
the necessary build-up of staff expertise and the required IT systems over the
next few years. A good portion of these considerable future investments will
take effect in 2016 and is thus reflected in an altered earnings forecast. In
combination with the persistently difficult conditions, such as the
still-moderate economic outlook, ongoing low interest rates, sinking investment
income and political uncertainty in individual markets, UNIQA expects a decline
in earnings of up to 50 per cent in the 2016 financial year compared to the
very strong earnings for 2015.
Note: All the figures for the 2015 financial year are based on unaudited
preliminary data. The final annual report with audited figures will be
published on the Group website www.uniqagroup.com on 14 April 2016.
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.
end of announcement euro adhoc
issuer: 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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