Uniqa Records Losses of € 330m

Businessn.a. ♦ Published: February 3, 2012; 10:45 ♦ (Vindobona)

The Austrian insurance company´s results are massively burdened by Greek bonds. Core business is still 'robust', says Uniqa´s management.

Uniqa Records Losses of € 330m / Picture: © Vindobona.org

Uniqa reported preliminary data for 2011. The insurer said that the core operational business developed solidly in 2011 against the backdrop of a difficult economic environment. Recurring premiums written rose by 4.4 percent to € 5,367m (2010: € 5,141m), and in the growth markets of Eastern Europe by as much as 6.5 percent to € 1,085m (2010: € 1,019m).

The loss ratio in…