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

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

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