350 million euros profit: Uniqa recorded strong increase in premiums

Thanks to a strong premium increase in Central and Eastern Europe (CEE), the listed insurance group has Uniqa In the past year, the profit increased by 15 percent to EUR 348 million.

According to the preliminary figures, the offset premiums rose by 9.1 percent to EUR 7.8 billion, the insurer announced in Vienna on Thursday. The group board proposes a dividend of 0.60 euros per share for the 2024 financial year.

The storm damage caused by the storm low “Boris” last September cost the insurance group gross EUR 222 million. A large part of this was taken over by reinsurance. For the Uniqa A deductible of 85 million euros remained. The damage-cost quota (also called Combined Ratio) rose to 93.1 percent in 2023 due to the storm of 92.8 percent.

22 percent premium growth in Poland

“In Austria we have grown by 4.6 percent, strongly supported by damage and accident insurance and health insurance. In Central and Eastern Europe, the premiums increased by 13.9 percent, primarily due to strong growth in damage and accident insurance and in life insurance,” Uniqa-Id CEO, Andreas Brandstetter, cited in the broadcast. In Poland, the premium volume has grown particularly strongly at 22 percent.

According to segments, premium revenue in damage and accident insurance increased the most with 11 percent, followed by health insurance (+10 percent) and life insurance (+3.3 percent). The result before taxes in the entire group was EUR 442 million – an increase of 3.6 percent.

The dividend should increase every year by 2028

With the outlook, the company confirms its growth goal, which was already announced in December: for the years 2025 to 2028, the company is aiming for an average annual premium growth of five percent, while the group gain is supposed to increase by at least six percent annually. In addition, the dividend should increase annually.

With a view of the current year 2025 writes Uniqa: “Our expectations regarding strong growth above GDP (gross domestic product; note) are based on targeted sales activities as well as on adaptations related to inflation and index developments.”