Insurance

The latest insurance industry and company news and analysis from FriedlNews
Page 1/26

Insurers Raised Premiums by 3.3 Percent in 2014

According to preliminary figures Austria’s insurance sector saw its premium income rise by 3.3 percent to EUR 17 billion (USD 19.3 billion) in 2014, the Austrian Insurance Association (VVO) stated.

February 26, 2015

Vienna Insurance Group Places EUR 400 Million Bond Issue

Vienna Insurance Group AG Wiener Versicherung Gruppe placed a subordinated bond with a volume of EUR 400 million with institutional investors.

February 18, 2015

Health Insurance Industry Expects EUR 129 Million Deficit

Austria’s health insurance fund managers expect after several years of surplus to generate a deficit again this year. According to the latest estimates of the Chief Association of Social Insurance Agencies (Hauptverband der Sozialversicherungsträger) the deficit might reach EUR 128.9 million (USD 147 million) in 2015, which marks a hefty drop from last year’s surplus of EUR 83 million (USD 94.9 million).

February 16, 2015

VIG Plans Bond Issue and Buyback of Existing Securities

Provided the market terms are beneficial, listed insurance company Vienna Insurance Group (VIG) intends to issue subordinated bonds, under a EUR 400 million (USD 452.89 million) subordinates notes program, the company announced on Wednesday. At the same time the company is going to carry out the buyback of already issued securities.

February 11, 2015

Generali Austria’s Performance in 2014 Good

Insurance company Generali Austria performed satisfyingly in 2014, CEO Peter Thirring told journalists commenting on the FY results. The company’s results were stable y/y and it managed to increase its market share.

January 27, 2015

VIG Premium Income Stagnated in 2014

Listed insurance company Vienna Insurance Group (VIG) saw its premiums written stagnate last year at EUR 9.374 billion (USD 10.5 billion), by 0.1 percent less than in 2013. The premium income adjusted for one-off items increased by 2.6 percent though.

January 27, 2015

Insurer VIG Unit to Restructure Ailing Italian Business

Listed insurance group VIG unit Donau Versicherung is restructuring its lossmaking car insurance business in Italy and eyes "reasonable” results in 2016, Donau Versicherung new CEO Elisabeth Stadler told the daily Kurier.

January 7, 2015

Fitch Keeps Negative Outlook for Austrian Banking Sector

Credit Rating Agency Fitch still assesses the outlook for the Austrian banking sector in 2015 as negative, the agency said. Fitch pointed to such factors as geopolitical situation connected to the Russia/Ukraine conflict and few signs of a major turn in the CEE.

December 10, 2014

Allianz Austria to Make its Investments Sustainable

Allianz insurance group in Austria will gradually convert its EUR 7 billion (USD 8.7 billion) investment portfolio to sustainability. According to the model developed together with WWF and other stakeholders, the goal is to achieve a 88 percent quota by 2020 and 95 percent by 2030.

December 2, 2014

Uniqa Cuts Profit Target for 2015 to EUR 425 - 450 Mln

Listed insurance group Uniqa presented robust nine-month results on Wednesday, with profits rising. However, in 2015 the management expects the profit on ordinary activities to amount to EUR 425-450 million (USD 529.6 560.7 million), rather than EUR 550 million as the company’s earlier forecasts assumed, due to low interest rates and a market slump. Analysts had anticipated the move though.

November 26, 2014