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

Austrian Insurance Industry Headlines

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

Heta-Related Loss of Allianz at EUR 133 Million

The troubles of banks and firms affected by the liquidation of former Hypo Alpe Adria bank (now Heta) continue. Germany’s insurance group Allianz’s board member Maximilian Zimmerer told shareholders on Wednesday the company’s involvement in Heta amounts to EUR 133 million (USD 149 million).

May 7, 2015

VIG Re Increased Premium Income to EUR 431 Million

VIG Re, reinsurance company of Vienna Insurance Group (VIG) with headquarters in Prague increased its premium income in 2014, compared to 2013 by 4.7 percent to EUR 431 million. Pretax profit increased from EUR 18.4 million (USD 20 million) to EUR 19.9 million the company announced on Monday.

April 27, 2015

Austrian Insurers Earnings Decline in 2014, Premiums Up

Austrian insurance firms suffered a 5.9percent y/y decline in their combine earnings on ordinary operations in 2014 to EUR 1.42 billion (USD 1.53 billion), albeit their premiums rose by 2.82 percent y/y to EUR 17.08 billion, financial market watchdog FMA data showed.

April 20, 2015

Uniqa Insurance Embedded Value Slips in 2014

Listed insurance group Uniqa saw the embedded value slip to EUR 4.201 billion (USD 4.43 billion) in 2014 from EUR 4.217 billion, the company said Wednesday.

April 15, 2015

Uniqa Insurance New Life Policy Sales in Line With Plan

Listed insurer UNIQA's sales of new life insurance policies without guaranteed interest rate are going well, CEO Hartmut Loger said in a press statement on Tuesday. Some 2.5k contracts with a premium volume of over EUR 3 million (USD 3.25 million) have been sold so far, above the plan and more than a year earlier.

April 7, 2015