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

S Versicherung: Life Insurance Still on Path of Growth

s Versicherung believes that life insurance will keep growing. There may be a visible growth of the number of new contracts by the end of the year, the head of the management Heinz Schuster predicts. S Versicherung will hold on to guarantees. Interest will probably sink.

June 25, 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

Legal Insurance Provider D.A.S. Austria Boosts Premium Income in 2014

Legal protection insurer D.A.S. Österreich raised premium income in 2014 by 18.5 percent to EUR 78.5 million, the company announced. Out of this EUR 64.5 million came from Austria, the rest came from Czech Republic and Slovakia.

June 10, 2015

Uniqa Insurer Set to Issue at Least EUR 500 Mln Bond

Listed insurer Uniqa plans to isse a subordinate (Tier 2) bond with a benchmark volume of at least EUR 500 million (USD 545 million). The issue will be conducted in the next few weeks, following a road show in Europe, depending on the current market conditions.

June 3, 2015

VIG Expands Sales Network in Bulgaria, Buys UBB-AIG

The listed Vienna Insurance Group (VIG) is expanding its sales network in Bulgaria. VIG's subsidiary Bulstrad has concluded a contract for the takeover of 100 percent in UBB AIG and a cooperation agreement with United Bulgarian Bank (UBB) VIG announced on Tuesday.

June 2, 2015

Wüstenrot Consolidated Results for 2014 Stable

Salzburg-based insurance group Wüstenrot’s profit from ordinary activities edged down almost not noticeably y/y to EUR 33.4 million (USD 36.48 million), from EUR 33.9 million a year ago. The company announced that the consolidated balance sheet sum totaled EUR 11.38 billion, up from EUR 11.15 billion a year ago.

May 27, 2015

Allianz Elementar to Acquire Remaining 50 Percent of Bawag Allianz Vorsorgekasse

Allianz Elementar Versicherung, 50-percent owner of BAWAG Allianz Vorsorgekasse, will acquire the remaining 50 percent from BAWAG PSK.

May 22, 2015

Uniqa Boosts Profit in Q1

Thanks to boosting profit in the first quarter of the year insurance group Uniqa confirmed that it is on course to achieve planned growth of profit in the whole year. In the period till March a surprisingly strong growth in premium income was recorded.

May 22, 2015

Analyst Expect Higher Q1 Profit for Uniqa

Analysts of Erste Group, JPMorgan and Raiffeisen Centrobank (RCB) concur that listed insurer UNIQA which is to present Q1 figures on Friday, will report a considerable hike of net and pretax profits.

May 20, 2015

VIG Insurance Seen Posting EUR 10.7 Mln Q1 Net Profit, Down by 9 Pct Y/Y

Listed insurance group VIG will likely post EUR 107.3 million (USD 120.1 million) in Q1 net profit, down 9 percent y/y, on stable gross premiums of EUR 2.75 billion, shows the consensus of analysts ahead of the release of Q1 financial statements slated for Wednesday.

May 19, 2015