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

Signa Holding Sells Building for EUR 94 Mln to Insurer Allianz

Signa Holding of investor Rene Benko sold an office building (Haus an der Wien) to insurance group Allianz for some EUR 94 million (USD 103.5 million), real estate intermediary EHL said.

November 2, 2015

VIG Completes Acquisition of Latvian Non-Life Insurer Baltikums AAS

Vienna Insurance Group (VIG) has finalized the 100-percent acquisition of Riga-based Baltikums AAS. As a result of the acquisition, Vienna Insurance Group is now one of the top five insurers on the Latvian market.

October 27, 2015

Uniqa Insurance to Continue Expansion in CEE

Uniqa insurance will continue its expansion course in terms of its presence on the CEE markets and enjoys nearly fully consistent profitability in the region, even considering the current times of political difficulty in Ukraine and Russia, CEO Andreas Brandstetter and Uniqa International CEO Wolfgang Kindl told journalists in Kiev,

September 21, 2015

Insurer Helvetia Grows Thanks to Takeover

Thanks to the takeover of Basler in Austria, insurer Helvetia Versicherungen AG managed to boost its growth considerably in H1. The premium income climbed 58 percent to EUR 218 million (USD 245.9 million), which allowed the insurer to join the club of the top ten assurance providers in Austria. The company has a headcount of 500,000.

September 2, 2015

Uniqa Insurance Raises Earnings in H1, Confirms Full-Year Guidance

Listed insurance group Uniqa met market expectations with a 5.2 percent y/y increase in earnings on core operations to EUR 190.8 million (USD 218.9 million) in H1 2015, the company said. The group stands by the guidance for raising the amount further to EUR 425-450 million in the whole 2015.

August 27, 2015

Uniqa Subsidiary Liable for Wrong Advice

A subsidiary of Uniqa is liable for the wrong financial advice provided by an independent insurance broker. The customer was left with huge debt and the court ruled that not only the insurance adviser but also the insurance firm is liable.

August 26, 2015

Uniqa Insurance Seen Raising H1 Net Profit to EUR 152 Mln

Listed insurer Uniqa will likely post EUR 152.2 million (USD 175.9 million) H1 net profit, up by 24 percent y/y, shows the consensus of analysts ahead of the release of semi-annual results slated for Thursday.

August 25, 2015

Vienna Insurance Group with Lower Profit and Premium Income in H1

Listed Vienna Insurance Group (VIG) generated lower profit and premium income in the first half of the year. The group was under pressure of low interest rates. Pretax profit sank by 16.8 percent to EUR 250.5 million. Group results sank by 13.7 percent to EUR 192.5 million. Premiums written dropped by 1.5 percent to EUR 4.91 billion (USD 5.63 billion) the company announced.

August 25, 2015

Uniqa Ukraine Gets New CEO

The top management of the Ukrainian arm of Uniqa has undergone a change, as the CEO/COO/CFO post of the subsidiary has been assumed by Olena (Elena) Ulyee (39). She replaces Yuriy Yefimov who will become a supervisory board member instead. She has been CFO of Uniqa Insurance since 2007.

August 21, 2015

VIG's Compensa Acquires Lithuania’s Largest Life Insurance Sales Company

Vienna Insurance Group company Compensa Life SE has strengthened strengthened its sales structure in Lithuania with the acquisition of life insurance sales specialist Finsaltas. Finsaltas holds Latvia's biggest life insurance distribution network and recorded some EUR 7.1 million (USD 8.0 million) in life insurance premiums in 2014. for an undisclosed amount, VIG said Friday.

June 12, 2015