Brief: UNIQA Insurance Group FY Consolidated Profit Rises 18%

UNIQA Insurance AG

07/03/2024 06:34

March 7 (Reuters) - UNIQA INSURANCE GROUP AG  UNIQ.VI :
    * FY COMBINED RATIO IMPROVED FROM 91.7 PER CENT TO 89.4 PER
CENT
    * FY FINANCIAL RESULT THEREFORE INCREASED TO €150.2 MILLION
(2022:
€–49.9 MILLION)
    * FY NET INVESTMENT INCOME ROSE TO €588.8 MILLION IN 2023
(2022:
€179.8 MILLION)
    * FY CONSOLIDATED PROFIT/(LOSS) (THE PROPORTION OF NET
PROFIT/(LOSS) FOR THE PERIOD ATTRIBUTABLE TO THE SHAREHOLDERS OF
UNIQA INSURANCE GROUP AG) INCREASED BY 18 PER CENT TO €302.7
MILLION (2022: €256.0 MILLION)
    * FY RETURN ON EQUITY (PROFIT/(LOSS) FOR THE YEAR FROM
CONTINUING
OPERATIONS IN RELATION TO AVERAGE EQUITY EXCLUDING
NON-CONTROLLING INTERESTS) ROSE TO 14.1 PER CENT IN THE
REPORTING YEAR (2022: 11.6 PER CENT)
    * FY RETURN ON EQUITY (PROFIT/(LOSS) CALCULATION DOES NOT
TAKE
INTO ACCOUNT THE EFFECT OF THE PLANNED SALE OF THE RUSSIAN
COMPANY (PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS (AFTER TAX)
    * OUTLOOK 2024: FOCUSING ON FURTHER IMPROVING OUR CORE
UNDERWRITING BUSINESS IN OUR TWO HOME MARKETS OF AUSTRIA AND CEE
    * OUTLOOK 2024: EXPECTATIONS OF STRONG GROWTH IN PROPERTY
AND
HEALTH INSURANCE ARE BASED ON BOTH TARGETED SALES ACTIVITIES AND
RESTATEMENTS IN CONNECTION WITH INFLATION AND INDEX DEVELOPMENTS
    * OUTLOOK 2024: CONTINUE TO EXPECT SIGNIFICANT EXPENSES IN
THE
2024 FINANCIAL YEAR
    * OUTLOOK 2024: EXPENSES WHICH WILL BE INCURRED FOR BENEFITS
IN
PROPERTY AND HEALTH INSURANCE AND IN THE GENERAL COST AREA, DUE
TO INFLATION
    * PAYOUT RATIO WILL REMAIN AT UP TO 60 PER CENT
    * POSSIBLE NEGATIVE INFLUENCES ON OUR CONSOLIDATED PROFIT,
WHICH
MAY RESULT FROM GEOPOLITICAL UPHEAVALS AND THE ASSOCIATED
UNCERTAINTIES FOR THE GLOBAL CAPITAL MARKETS

Further company coverage:  UNIQ.VI 

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