EANS-News

UNIQA Insurance Group AG / UNIQA on track to achieve targets set - Seite 2

1.9 per cent overall as a result of moderate growth in Austria and
more substantial increases internationally. The decline in premiums
written is entirely due to the fact that we deliberately reduced
single premium business because it is not attractive for our
customers in the current interest rate environment and has a poor
return on capital for the Group. We achieved very good growth in
property and casualty insurance and also continued our solid growth
in health insurance." With regards to the anticipated development,
Brandstetter says: "For the 2016 financial year, we still expect
earnings before taxes to be up to 50 per cent lower than the very
good earnings for 2015. This is due firstly to the innovation
programme launched at the beginning of 2016 with significant future
investments in the redesign of the business model, the enhancement of
staff expertise and the necessary modernisation of our IT landscape.
Secondly, we do not expect the persistently difficult conditions with
negative interest rates, decreasing investment income and political
uncertainty in individual markets to improve in the medium term. We
are keeping to our plan to continuously increase the annual
distribution per share in the years to come on the basis of very
sound capital resources as part of a progressive dividend policy."

Key Group figures for first nine months of 2016 in detail

The premiums written by the UNIQA Group including the savings portion
of unit- and index-linked life insurance fell by 2.3 per cent to EUR
4,753.3 million in the first three quarters of 2016 (1 - 9/2015: EUR
4,866.1 million) due to the reduction in single premium business in
the life insurance segment in line with planning. While recurring
Group premiums rose by 1.9 per cent to EUR 3,949.6 million (1 -
9/2015: EUR 3,876.8 million), single premiums in life insurance fell
by 18.8 per cent to EUR 803.7 million (1 - 9/2015: EUR 989.3
million).

Premiums written in health insurance climbed by 4.0 per cent to EUR
778.8 million in the period under review (1 - 9/2015: EUR 749.1
million), while in property and casualty insurance they grew by 2.4
per cent to EUR 2,079.1 million in the first nine months of 2016 (1 -
9/2015: EUR 2,029.6 million). In life insurance, total premiums
written - including the savings portion of unit- and index-linked
life insurance - declined by 9.2 per cent to EUR 1,895.3 million (1 -
9/2015: EUR 2,087.5 million) due to the reduction of single premium
business.

Premiums earned in accordance with IFRS (i.e. not including the
savings portion of unit- and index-linked life insurance) decreased