Vienna International Insurance Industry News

Read the latest headlines about developments in the international insurance industry in Vienna and Austria

Austrian Insurance Industry Shrinks

Last year, premium income generated by Austrian insurance companies was down by 1.7%. Insurance benefits were up, however.

May 9, 2012

Merkur Records Stable Profit

The Austrian insurance company could improve its results in 2011. The pre-tax profit showed a slight increase to € 6.9m from € 6.8m.

May 8, 2012

Vienna Insurance Raises Dividends by 10%

The biggest Austrian insurance group resolves an increase in dividend by 10 percent to € 1.10 per share.

May 4, 2012

Uniqa Plans Capital Increase

The Austrian insurance group is planning a capital increase of €500 million this year “to be able to take ad-vantage of short-term growth opportunities”.

April 27, 2012

Mixed Results at Generali Austria

The Austrian subsidiary of the Italian insurance group recorded a decent rise in premium income. Earnings were down by 24%.

April 19, 2012

Uniqa Sells German Mannheimer Group

The Austrian insurance company concludes the sale of its majority stake in Mannheimer AG.

April 16, 2012

Austrian Insurance Industry: Growth Opportunities in CESEE

Last year foreign business accounted for almost 40% overall. Austrian insurers believe there is further potential, above all in Eastern Europe.

April 6, 2012

VIG Re: Increase In Profits

Vienna Insurance Group Re posted results. The re-insurer said it raised pre-tax profit by 11.1 percent to € 20.6m, and premium volume by 4.2 percent to € 292.3m.

April 5, 2012

Austrian Insurance Firms Continue to Commit to Internationalisation

Last year foreign business accounted for almost 40% overall. Austrian insurers believe there is further potential, above all in Eastern Europe.

April 4, 2012

VIG Reaches Record in Group Profits

Vienna Insurance Group registers an increase in Group profit (before taxes) by 10.1 percent to about € 560m. VIG proposed a dividend increase of 10 percent to € 1.10 per share.

March 29, 2012

FMA: Insurance Companies Raised Profits to € 1.16bn

The Austrian Financial Market Authority (FMA) observes rising profits in the domestic insurance industry. Operating profits grew to € 1.16bn.

March 20, 2012

Allianz Austria Improves Premium Intake

The Austrian subsidiary of the German insurance group could enhance results in all its segments. Due to a decline in investment results, net profits were down significantly.

March 20, 2012

Uniqa: Changes in Supervisory Board

RZB´s supervisory board chairman Christan Konrad will leave Uniqa. RZB´s CeO Walter Rothensteiner succeeds Konrad.

March 6, 2012

Uniqa Aims for Growth in CESEE Region

The Austrian insurance group wants to sell stakes by the minority shareholders of subsidiaries in Eastern Europe. The capital increase is scheduled for 2013.

March 5, 2012

Austrian Insurance Market Shrinking

In 2011, premium income at Austrian insurance companies declined. Only in the health insurance segment showed growth rates.

February 28, 2012

Uniqa Records Losses of € 330m

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

February 3, 2012

VIG Raises Dividends Due to Excellent Results

Premium income went up by 3.4 percent to € 9bn, profit increased by about 10 percent to nearly € 560m.

January 24, 2012

Warta Sale: VIG Unsuccessful

The sale of the Polish insurance group Warta is closed. The German Talanx takes over Warta, Vienna Insurance Group had no chance.

January 20, 2012

Uniqa: Strong Growth in Premium Income

The Austrian insurance company announced to have achieved 20% growth in Bulgaria.

January 16, 2012

Polish Warta: Decision Expected this Week

Vienna Insurance Group and Zurich fight for Polish Warta. The seller, Belgian KBC, will decide this week.

January 12, 2012

VIG Has „No Problems in Hungary“

“We are an insurance group and not a bank.”, said the management of Vienna Insurance Group. Nevertheless, the developments are observed thoroughly.

January 11, 2012

Uniqa´s Czech Subsidiary Beats Market Growth

The Czech subsidiary of the Austrian insurance group achieved an 11% premium income growth, which is significantly beyond the market growth (1.8%).

January 3, 2012

Hypo Group Sells Insurance Segment

The nationalized Austrian Hypo Group Alpe Adria sold its insurance subsidiary, Hypo Alpe Adria Insurance Services (HIS).

January 2, 2012

Insurance Industry Records Decline in Premiums

Total premiums written dropped by 0.41% in the period from July to September. The life insurance business was down 7.93%.

December 29, 2011

VBAG Sells Insurance Segment

The Austrian Volksbanken AG sells its stake in Victoria Volksbanken to Ergo Austria.

December 20, 2011

Oberösterreichische Versicherung Raises Premium Income

The Upper Austrian regional insurance company expects to record results slightly below the previous year´s level.

December 19, 2011

Uniqa Grows Quickly in Bosnia and Herzegovina

The insurance company’s premium volume increased by 14% in the first three quarters of the year.

December 16, 2011

VIG and Zurich Fight for Polish Warta

According to the Polish newspaper Rzeczpospolita, the Swiss Zurich and the Austrian Vienna Insurance Group are the favorites for the acquisition of Warta.

December 14, 2011

S&P Cuts Uniqa´s Rating

Standard & Poors today lowered the long-term financial rating of the Austrian insurance group Uniqa from “A-“ to “BBB+”.

December 13, 2011

S Immo Announces Changes in Shareholding Structure

The Austrian real estate company S Immo clarifies that the two core shareholders still remain in S Immo and hold a threshold beyond 9% each.

December 3, 2011

VIG Acquires Polish Life Insurance Company Polisa

The Austrian insurance group rounds off its product portfolio in Poland. Polisa generated a premium volume of € 21m in 2010.

November 29, 2011

Uniqa Reports Positive Development in Core Business

One-off effects of the “write-down of Greece” and the new focus of the Austrian insurance company significantly influence results for the third quarter of the year.

November 24, 2011

Uniqa Plans Sale of German Subsidiary Mannheimer

The Austrian insurance group’s new strategy brings increased concentration on Eastern European growth markets.

November 24, 2011

Uniqa Group Strengthens Market Position in SEE Region

The Austrian insurance company expands its market leadership in Albania and is ranked on number two in Kosovo.

November 21, 2011

VIG Raises Equity Base in Croatia

The local authority claimed for a capital increase for the Croatian subsidiary of Vienna Insurance Group. Now, € 15m were transferred.

November 16, 2011

Vienna Insurance Group Reports Moderate Rise in Profits

Profit (before taxes) went up by about 10 percent to € 414.1m. Group premiums rose by 4.0 percent to € 6.8bn.

November 15, 2011

S&P Reviews Uniqa’s Rating

The Austrian insurance company was set to CreditWatch negative due to its weakened capital adequacy. A downgrade by one notch is possible.

November 10, 2011

VIG Officially Bids for Polish Warta

Potential buyers of the Polish Warta insurance had to publish their offers by the end of October. Vienna Insurance Group participates.

November 7, 2011

Uniqa Expects Loss of € 300m

The Austrian insurance group is writing down all of its Greek government bonds at fair value in the third quarter and will therefore not break even in profit on ordinary activities as originally anticipated.

November 3, 2011

Weak Development for Austrian Private Insurers

After a substantial growth in 2010, this year shows only a slight upward trend for the insurance industry. The outlook however is rather pessimistic.

November 1, 2011

Volksbanken Group Wants to Sell its 25% Stake in Insurer Victoria

According to Wirtschaftsblatt, which is citing well informed sources, ÖVAG Österreichische Volksbanken-AG want to separate completely from Victoria Insurance by selling its shares to the Victoria’s majority owner Ergo, the unit of German Munich Re.

October 21, 2011

VIG Acquires Jahorina Insurance in Bosnia and Herzegovina

The Vienna Insurance Group AG Wiener Versicherung Gruppe is the new majority shareholder in the Jahorina Osiguranje AD Pale (Jahorina) insurance company in the Republic of Bosnia and Herzegovina.

October 20, 2011

VIG Upgraded by Raiffeisen

Current talks of bank recapitalization can in the view of Raiffeisen Research be a positive trigger for the insurance sector.

October 17, 2011

The Intended VIG Acquisition of Polish Warta Faces a Tough Competition

According to the Polish daily Rzeczpospolita, analysts estimate the value of the Polish insurer Warta at € 230-340m.

October 17, 2011

Vienna Insurance Group Has Its Own Funds to Buy the Polish Insurer Warta

Guenter Geyer, the head of the Austrian insurance company quoted by the Polish daily Gazeta Prawna confirmed the interest in an auction of the Warta Insurance and Reinsurance Company.

October 13, 2011

New Board Member for Slovak Subsidiary of VIG

Erik Nikmon was appointed to the Managing Board of Kooperativa. He will take up his position on 1 November.

October 6, 2011

Personnel Changes in the Managing Board of Czech VIG Subsidiary

The Austrian Vienna Insurance Group reshuffles the board of the Czech Kooperativa.

October 5, 2011

Generali Austria Report Small Rise in Premiums

The Italian insurance group shows a small rise in premiums in spite of a difficult Austrian insurance market.

October 5, 2011

Vienna Insurance Group Merges Bulgarian Subsidiaries

The Austrian insurance corporation intends to strengthen its market presence via the merger of Bulstrad and Bulgarski Imoti,

October 5, 2011

VIG to Start Due Diligence on Warta in October

The Austrian insurance group intends to grow on the Polish market. An acquisition would double its premium income in the country.

September 28, 2011