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

Uniqa Insurance Net Profit Sinks 42.2 Pct Y/Y to EUR 90.3 Mln in H1

Listed insurance group Uniqa enjoyed a good H1 in operating terms, but pretax profit sunk by 44.3 percent y/y to EUR 106.2 million, the company said in a report. Pretax result was burdened by the low interest rates and the launched investments.


Vienna Insurance Finalizes Purchase of BTA Baltic

The listed Vienna Insurance Group (VIG) has finalized the purchase of a majority stake in BTA Baltic Insurance Company AAS (BTA Baltic) with headquarters in Latvia and branches in Lithuania and Estonia.


VIG Insurance H1 Profit Falls, Annual Guidance Confirmed

Listed insurance group Vienna Insurance Group (VIG) in the whole first half recorded deterioration of its earnings. Pretax profit dropped by 17.5 percent y/y to EUR 201 million. Already at the beginning of August VIG signaled its profit was expected to fall to EUR 200 million as low interest rates continued to press on the financial result.

August 23, 2016

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