Uniqa reports Q1 loss due to coronavirus provisions, expenses for storm "Sabine"

UNIQA Insurance AG

22/05/2020 06:56

VIENNA, May 22 (Reuters) - Austrian insurer Uniqa  UNIQ.VI 
reported its first quarterly net loss since the financial crisis
as it built provisions in connection with the coronavirus
pandemic and due to expenses after February's storm "Sabine" and
an earthquake in Albania.
    The group said on Friday it booked a net loss of 13.2
million euros  ($14.4 million) for the January-March period
after a profit of 32.2 million in the previous year's period.   
    Provisions in connection with the coronavirus pandemic
amounted to 37.5 million euros. Written premiums rose 3.2%,
driven by solid growth in its health, property and casualty
insurances.
    Uniqa stuck to its April assessment according to which it
might make a pre-tax loss in 2020 because of the coronavirus
pandemic.

($1 = 0.9154 euros)

 (Reporting by Kirsti Knolle
Editing by Scot W. Stevenson)
 ((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))