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Austrian Insurance Industry Headlines

Wüstenrot Group Closed 2015 with a Profit

Wüstenrot group with headquarters in Salzburg closed the financial year 2015 with a substantially higher profit. Pretax profit increased by about 35 percent to EUR 45.2 million (USD 50.56 million).

1 hour ago

VIG Insurance Seen Netting EUR 78.1 Mln in Q1, Down 21 Pct Y/Y

Listed insurance group VIG will likely post EUR 78.1 million (USD 87.5 million ) net profit in Q1 2016, a 21 percent y/y drop, according to a consensus of analysts surveyed ahead of the publication of results slated for tomorrow.

May 23, 2016

Schelhammer Not to Sell Casinos Stake After All

Former church bank Schelhammer & Schattera no longer wants to sell of its stake in Casinos Austria, it follows from a statement of managing board member Gerd Stöcklmair made to daily Krone. He noted the bank was observing the market, but had not plans for change in 2016. The bank holds directly and indirectly 9.86 percent of Casinos Austria.

May 4, 2016

D.A.S. Legal Costs Insurer to Steer CEE Expansion from Vienna

European leader in legal costs insurance D.A.S. plans to expand in the CEE and will manage this expansion from Vienna, the company said in a statement. The Vienna office is already parent of the Slovak and Czech arms of the concern. Further mergers with CEE units are planned in the coming years. The changes will involve altering the organisational structure of the group.

April 25, 2016

Uniqa Raised Embedded Value in 2015 by Over 13%

Listed insurer Uniqa raised its embedded value by 13.2 percent in 2015, to EUR 4.725 billion. The sum includes the value of insurance contracts and future earnings. The stock value of the life and health insurance division increased 17.3 percent to EUR 1.847 billion, Uniqa stressed in a release.

April 15, 2016

Strabag Buys Tech Gate Vienna Office Tower for EUR 110 Million

Listed construction company Strabag is buying office building Tech Gate in Vienna. The office complex is sold by the owner consortium of Wiener Städtische, the city of Vienna and FFG, WirtschaftsBlatt daily reports.

April 12, 2016

VIG Insurance 2015 Net Profit Sinks 73 Pct to EUR 98.2 Mln

Listed insurer VIG suffered a heady, 73.2-percent y/y decline in 2015 net earnings to EUR 98.2 million (USD 111.5 million), the company said on Thursday.

April 7, 2016

RZB Returns to Profits in 2015

Raiffeisen Zentralbank (RZB), parent of the listed Raiffeisen Bank International (RBI) achieved a positive result in 2015, following a loss in 2014. The company recorded a pretax profit of EUR 737 million for 2015, compared to a loss of EUR 56 million for 2014. Group result turned from EUR 399 million to EUR 237 million.

April 5, 2016

Uniqa Insurance's Private Hospital Investment Investigated by Supreme Court

Listed insurance group Uniqa saw the Austrian supreme court OGH look into the planned acquisition of 75 percent in Vienna-based private hospital Goldenes Kreuz, Uniqa's unit PremiQaMed's Barbara Werwendt told APA, confirming earlier information from the medical chamber.

April 5, 2016

Austrian Insurers' Pre-Tax Profit Down 4.7 Pct Y/Y to EUR 1.35 Bln in 2015

Austrian insurance segment posted EUR 1.35 billion (USD 1.51 billion) in 2015 pretax profit (earnings on ordinary activities), down by 4.7 percent y/y, financial market regulator FMA said in a report.

March 22, 2016