21st Austria weekly - Uniqa (19/08/2022)

Uniqa: In the first six months of 2022, the UNIQA Insurance Group AG (UNIQA) generated earnings before taxes of €169 million. Premiums written grew by 3.8 per cent in the first half of 2022. All business lines contributed to this increase: property and casualty insurance grew by 4.4 per cent, health insurance by 3.8 per cent and life insurance by 2.5 per cent. “In view of the depreciation of €127 million on Russian bonds, as already communicated in July, and the high level of adverse impact from major claims and natural catastrophes, the results for the first half of the year are solid,” says Andreas Brandstetter, CEO of the UNIQA Insurance Group. The combined ratio rose from a very strong 92.6 per cent in the first half of 2021 to 95.0 per cent. Responsible for this were not only higher burdens due to major claims and natural catastrophes, but also inflation-related price increases for repair services – both primarily at our Austrian subsidiary. At the same time, however, UNIQA was able to further improve the total cost ratio slightly from 26.9 per cent to 26.8 per cent. “A look at the challenging first half of 2022 shows that, despite strong headwinds, we are still on course with our strategic programme, ‘UNIQA 3.0 – Seeding the Future’. This is mainly due to the fact that we had already launched a number of strategic initiatives at an early stage in 2020, of which the cost-cutting measures in particular are paying off, in view of the current inflation,” adds Brandstetter.
Uniqa: weekly performance: -5.82%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (19/08/2022)

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