Brief: UNIQA Insurance Group H1 Consolidated Profit Down 11.8% To EUR 150.6 Mln

UNIQA Insurance AG

19/08/2022 06:38

Aug 19 (Reuters) - UNIQA INSURANCE GROUP AG  UNIQ.VI :
    * SOLID FIRST HALF OF THE YEAR DESPITE HIGH DEPRECIATION ON
RUSSIAN BONDS
    * OUTLOOK: SOLID CORE BUSINESS, NO FORECAST FOR DEVELOPMENT
OF
CAPITAL MARKETS
    * H1 TECHNICAL RESULT IMPROVED BY 7.6 PER CENT TO €119.5
MILLION
    * H1 EARNINGS BEFORE TAXES DECREASED BY 22 PER CENT TO €169
MILLION
    * DEPRECIATION AND IMPAIRMENT LOSSES REDUCED NET INVESTMENT
INCOME
BY 31 PER CENT TO EUR 211 MILLION
    * H1 COMBINED RATIO INCREASED FROM 92.6 PER CENT TO 95.0 PER
CENT,
DUE TO MAJOR CLAIMS AND STORMS
    * H1 CONSOLIDATED PROFIT/(LOSS) (I.E. THE PROPORTION OF THE
NET
PROFIT FOR THE PERIOD ATTRIBUTABLE TO THE SHAREHOLDERS OF UNIQA
INSURANCE GROUP AG) DECREASED BY 11.8 PER CENT TO €150.6 MILLION
(1 – 6/2021: €170.7 MILLION)
    * THE LOSS RATIO AFTER REINSURANCE THEREFORE INCREASED
SLIGHTLY IN
THE FIRST SIX MONTHS OF 2022 TO 63.0 PER CENT (1 – 6/2021: 62.2
PER CENT)
    * H1 EARNINGS PER SHARE AMOUNTED TO €0.49 (1 – 6/2021:
€0.56)
    * H1 COMBINED RATIO AFTER REINSURANCE INCREASED TO 95.0 PER
CENT
(1 – 6/2021: 92.6 PER CENT)
    * H1 NET INVESTMENT INCOME FELL BY 31.2 PER CENT TO EUR
211.2
MILLION (H1 2021: EUR307.2 MILLION)

Further company coverage:  UNIQ.VI 

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