EANS-News

UNIQA Insurance Group AG / UNIQA posts significant growth in Q1 2017

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Quaterly Report

Vienna, Austria - UNIQA posts significant growth in Q1 2017



* Group premiums written up 5.1 per cent
* Improved technical result compensates for drop in investment income
* Combined ratio increases to 97.7 per cent
* Earnings before taxes remain stable at EUR 33.1 million
* Strong capitalisation with economic capital requirement ratio (ECR ratio in
accordance with Solvency II) of 215 per cent as at the end of 2016
* Outlook for 2017 and plans to continue progressive dividend policy confirmed

The UNIQA Insurance Group started 2017 with strong growth in premiums written
(including the savings portion of unit- and index-linked life insurance) of 5.1
per cent in the first quarter. Premiums in property and casualty insurance saw
the most significant growth (+5.5 per cent), especially in the CEE region (+10.7
per cent). Health insurance (+4.0 per cent) and life insurance (+5.0 per cent),
particularly unit- and index-linked life insurance, also made a significant
contribution to this strong premium growth.

In the same period, total retained insurance benefits were down 0.8 per cent due
to the strategically planned decrease in single premium business and the
reduction of the portfolio in the traditional life insurance segment in Austria.
In the area of property and casualty insurance, higher insurance benefits due to
winter damage and the regulatory environment in Romania among other things led
to an increase in the combined ratio to 97.7 per cent.

The total expense ratio across all business segments fell slightly to 25.9 per
cent as a result of strong premium growth despite expenses in connection with
the innovation and investment program launched in 2016.

The technical result improved considerably by 31.6 per cent as a result of the
significant rise in premiums, the decrease in payments and a lower expense
ratio.

Investment income fell by 29.8 per cent, which was due to persistently low
interest rates and negative exchange rate effects.

Earnings before taxes remained virtually stable at EUR 33.1 million as the
significant improvement in the underwriting result compensated for the decrease
in investment income.

As at the end of 2016, UNIQA is very strongly capitalised as compares to both