[ad_1]
In the first nine months as a whole, the profit before tax (EGT) remained practically the same as the previous year at 213.8 million euros, as well as the group’s result attributable to shareholders at 166.5 million of euros. That comes from a numerical presentation of the group on Thursday.
Third quarter results clearly beat analysts’ forecasts. Because the experts interviewed by the APA only expected an average of 148 million euros EGT and a net profit of around 115 million euros. For the first quarter, UNIQA reported an EGT loss of 14 million euros, for the second quarter more than 69 million euros, that is, 55 million euros for the semester.
The numbers in detail
The expense ratio was 27.0 (26.3) percent in the nine months, fell from 28.4 percent in the first quarter to 25.9 percent in the third quarter. The combined ratio – claims and costs measured by income – was again 95.9 percent.
In gross premiums, 4,092 million euros were accrued, a slight decrease of 0.1 percent. In this way, assets and accidents increased by 1.0 percent to 2,225 million euros, and health insurance by 3.2 percent to 882.8 million euros. In life insurance, which posted losses across the industry, revenue fell 5.3 percent to 983.8 million euros. In property / casualties, an EGT of 60.4 million euros was achieved, almost 37 percent less. In health insurance, EGT increased a good 20 percent to 74.7 million euros and in life it increased 37 percent to 78.8 million euros.
600 job cuts
The group plans to cut around 600 employees by the end of 2022, mostly in Austria, it was announced Wednesday night. In general, as of September 30. around 12,700 employees, around 6,000 of them on the Austrian domestic market. To the greatest extent possible, the reduction should be achieved through natural exit and mutually agreed termination, the group said.
These job cuts would burden the annual financial statements this year of up to 110 million euros. However, these expenses would be offset by future savings of up to € 50 million per year. In addition, this year there would be impairments in goodwill in Serbia, Bulgaria and Romania amounting to about 100 million euros, he said.
