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Insurance Industry
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
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
Lack in Know-How for Investments
For 91% of the Austrians the topics investments and finance are too complex. A lack in transparency is obviously the problem.
December 9, 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 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
Financial Syndicate for Nabucco Arising
The Austrian OeKB intends to conduct a financial consortium for the gas pipeline project Nabucco.
October 15, 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
Restructuring Program at Uniqa
The Austrian insurance corporation sets down one-time expenditures of € 190m in the 2011 balance sheet. Group annual result for 2011 expected to be a "flat zero" – notwithstanding any further negative developments on the capital markets.
September 21, 2011
Insurance Industry: Moderate Decline in Premiums
Total premiums written dropped by 2.87% in the period from April to June. Life insurance business was down 11.23%.
September 15, 2011
Austrian Households with Second Lowest Debt Ratio in Western Europe
A lower ratio was only recorded for Belgium. In the year 2010, Austrians’ gross financial assets averaged € 59,346.
September 14, 2011
Vienna Insurance Group: Market entry in Bosnia-Herzegovina
The Vienna Insurance Group AG has signed a contract to acquire a majority stake in the insurer Jahorina Osiguranje AD Pale (Jahorina) in Bosnia-Herzegovina after successfully concluding due diligence.
September 13, 2011
CEE-Region Remains Essential for Austrian Insurance Companies
According to a current market survey of Fitch, the CEE region plays a central role for domestic insurance companies. There is still growth potential.
September 12, 2011
VIG Merges Polish Subsidiaries
The Austrian insurance group expects increased efficiency resulting from the planned merger between InterRisk and PZM.
August 31, 2011
Uniqa: Solid Results despite Devaluation of Greek Bonds
Net profit of the Austrian insurance company increased by 6.8% to € 53m. Recurring premiums grew 5.3% in the first six months of the year.
August 29, 2011
Vienna Insurance Group Expands Involvement in Albania
With the acquisition of a 75% stake in Intersig, the Austrian insurance company raises its market share in Albania to 30%.
August 24, 2011
Sustainable Increase in Earnings for VIG
The Austrian insurance company recorded profit before taxes of € 282.2m, up 10.4% in the first half of the year.
August 18, 2011
Forecast on Savings and Loans Trends: Austrians Invest € 5,670 on Average
Savings passbooks remained the most popular form of saving in Austria. The average loan volume dropped from € 70,200 to € 62,000.
August 17, 2011
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