The international premium volume broke the €2 billion mark

International premium volume written in life insurance

The international premium volume of the UNIQA Group (incl. the savings portion of unit- and index-linked life insurance) broke the €2 billion mark for the first time in 2008 and rose – driven primarily by the above-average growth in the companies in Eastern and South Eastern Europe – by 26.6% to €2,226 million (2007: €1,758 million). This brought the international share of Group premiums up to 38.2% (2007: 33.3%).

Including the savings portion of the unit- and index-linked life insurance (after reinsurance), the premiums earned increased by 31.9% to €2,048 million (2007: €1,552 million). The retained premiums earned (according to IFRS) increased by 44.0% to €1,759 million (2007: €1,221 million).

Central and Eastern Europe (CEE & EEM)

The countries of Eastern and South Eastern Europe achieved very high growth rates once again in 2008 and were able to increase their total premiums written by 56.7% to €1,279 million (2007: €816 million). The increase in 2008, which was far above the respective market growth rates, can be attributed above all to the continued dynamisation projects, which should increase organic growth in these regions still further in the future. In the Eastern Emerging Markets, the premium volume even doubled from €81 million to €164 million (+102.8%). Overall, this places the contribution to Group premiums by the CEE & EEM at 22.0% (2007: 15.5%).

Western Europe (WEM)

Only moderate growth was experienced in the past financial year in the mature markets of Western Europe. After a decline in 2007, the premium volume written increased slightly in 2008 by 0.5% to €947 million (2007: €942 million). The recurring premium business developed better and increased in the region by 1.8% to €700 million (2007: €688 million). Single premium business declined slightly by 2.8% to €247 million (2007: €254 million). In 2008, the WEM region contributed 16.3% (2007: 17.9%) to the Group premiums.

The premium volume written including the savings portion of the unitand index-linked life insurance was divided as follows among the various regions of the UNIQA Group:

Due to strong growth, the total insurance benefits of the international Group countries increased in 2008 by 48.5% to €1,274 million (2007: €858 million). Consolidated operating expenses less reinsurance commissions and profit shares from reinsurance business ceded rose in the past financial year by 23.8% to €519 million (2007: €419 million). In 2008, before consolidation based on the geographic segments (cf. segment reports), the profit on ordinary activities generated by the companies in the three regions outside of Austria increased to €86 million (2007: €53 million).