The latest insurance industry and company news and analysis from FriedlNews
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Austrian Insurance Industry Headlines

RZB Sold 17.6 Percent Stake of Uniqa

Raiffeisen Zentralbank (RZB) is selling a larger part of its stake in insurance company Uniqa. The bank will part with 17.64 percent of the insurer’s shares, thus reducing its stake to 8.64 percent.

July 26, 2016

Ergo Insurer Buys Tiny Insurance Group in Romania

Ergo Austria International and Ergo Versicherung bought a small Romanian accident and damage insurer Credit Europe Asigurari, Ergo said. The price was not disclosed.

July 20, 2016

Vienna Insurance Group Buys AXA Subsidiaries in Serbia

Vienna Insurance Group (VIG) is acquiring AXA’s life and non-life companies in Serbia. The purchase will increase VIG’s market share in Serbia to around 11.5 percent.

July 7, 2016

Generali Insurer Loses Court Case Over Changes for 70+ Customers

Insurance firm Generali lost a court case over unfavourable changes introduced to insurance policies of customers over 70 years old, the Vienna supreme regional court OGL said. The ruling is not binding.

July 5, 2016

Uniqa Privatstiftung Sells Erste Group Share

Uniqa Versicherungsverein Privatstiftung, one of the owners of listed insurer Uniqa, has sold a 4.1 percent stake of Erste Group bank, thus sending Erste shares plummeting on Wednesday. Uniqa Privatstiftung has sold 17.4 million shares at a price of EUR 22.5 (USD 25.576) one, thus the total share sales volume amounts to EUR 391.5 million.

June 8, 2016

Uniqa Eyes Over EUR 100 Mln from Design Tower Sale

Listed insurer Uniqa expects to obtain over EUR 100 million (USD 113.5 million) from the sale of the Design Tower building in Vienna, the company's spokesman said, confirming an earlier report by broadcaster ORF. The sale of the building, which houses primarily a Sofitel hotel, is in line with the company's long-assumed strategy of focusing on core business, he added.

June 7, 2016

Uniqa Rewards Drivers Resigning from Mobile Phone Use at Steering Wheel

Uniqa insurance group is expanding its vehicle telematics tariff SafeLine: it will reward drivers resigning from mobile phone use while driving and young drivers under the age of 25 for leaving the care standing at the weekend (night from Saturday to Sunday).

June 2, 2016

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).

May 27, 2016

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