EANS-News

UNIQA Insurance Group AG / UNIQA on track to achieve targets set - Seite 3

by 2.1 per cent to EUR 4,219.3 million (1 - 9/2015: EUR 4,307.6
million).

The UNIQA Group's net insurance benefitsfell by 2.3 per cent to EUR
3,431.4 million in the first nine months of 2016 (1 - 9/2015: EUR
3,512.5 million) as a result of the decline in premiums in life
insurance.

Total operating expensesless reinsurance commissions received rose by
1.7 per cent to EUR 1,015.0 million in the first nine months of 2016
(1 - 9/2015: EUR 998.5 million). Acquisition expenses posted a
decrease of 0.8 per cent to EUR 702.7 million (1 - 9/2015: EUR 708.5
million). Other operating expenses (administration costs) climbed by
7.8 per cent in the first three quarters of 2016 to EUR 312.4 million
(1 - 9/2015: EUR 289.9 million) as a result of expenses relating to
the innovation and investment programme.

As expected, theGroup cost ratiorose to 22.4 per cent (1 - 9/2015:
21.4 per cent) as a result of the decrease in premiums and the
increase in investments. The combined ratioafter reinsurance
increased slightly to 98.2 per cent (1 - 9/ 2015: 98.0 per cent) due
to higher than average expenses from major claims in the third
quarter.

Net investment incomefell by 20.7 per cent to EUR 490.1 million in
the first three quarters of 2016 (1 - 9/2015: EUR 618.0 million),
partly due to negative exchange rate effects. The comparative figure
for the previous year was influenced by positive measurement results
and the reorganisation of the strategic investment policy in 2015,
whereas in the first nine months of 2016, it was curbed by further
intensification of the low-interest rate environment.

The investmentof the UNIQA Group (including unit- and index-linked
life insurance investments) increased as against the end of the
previous year to EUR 30,584.9 million as at 30 September 2016 (31
December 2015: EUR 29,416.1 million).

The technical result of the UNIQA Group declined by 50.7 per cent to
EUR 74.4 million in the first three quarters of 2016 (1 - 9/2015: EUR
151.0 million). Operating earnings declined by 32.3 per cent to EUR
230.6 million (1 - 9/2015: EUR 340.4 million), chiefly as a result of
the decline in the investment result. The UNIQA Group's earnings
before taxes amounted to EUR 172.2 million (1 - 9/ 2015: EUR 301.9
million). These earnings include extraordinary income before taxes of
EUR 37 million from the sale of our minority financial investment in
Niederösterreichische Versicherung AG, investments of around EUR 30
million as part of our innovation programme, and a EUR 30 million
increase in expenses from major claims compared to the previous year.