Austrian insurer Uniqa posts 18.5 percent lower gross profit y/y in H1, to EUR 110mPublish date: 31-08-2008
Austrian insurance group Uniqa saw gross profit down 18.5 percent in the first half of the year versus the same period in the previous, on hike in business in Eastern Europe, according to the group.
The company posted 110 million euros gross profit in the first semester, versus 135 million euros in the same period in 2007.
Gross premiums written (GPW) rose 10.4 percent in the first six months, to 3.003 billion euros, versus 2.719 billion euros in the same period last year.
Uniqa's GPW in Eastern and Southeastern Europe hiked 60 percent in the first half, to 603 million euros, and represented 20.1 percent of the group's turnover, compared to a 13.9 percent contribution in the same period in 2007. The company's business in Austria inched 3.2 percent in the mentioned period, to 1.89 billion euros.
The net income from investments lowered 57.3 percent to 195 million euros.
Uniqa targets a net profit of 230 - 250 million euros this year, as capital markets are starting to stabilize and assets cannot decline.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei