and start up in Russia
Despite the difficult overall economic environment of recent years, the UNIQA Group remains true to its long-term strategy of expansion into the future growth markets of Europe, and continues to pursue a course of internationalisation and regional diversification important for Solvency II. The primary economic engine remains Eastern and South Eastern Europe. Approximately a decade after initiating its course of expansion, the Group is successfully represented in 21 markets with more than 40 insurance companies. Its primary goal remains to continuously increase profits with a broad-based international presence to dilute risk.
Even though the UNIQA Group will not be making a mediumterm forecast for the time being due to market uncertainties, its main goals remain unchanged. In 2010, the consistent implementation of its growth strategy yielded highly positive results: With an overall premium volume of €6,224 million, the UNIQA Group recovered its dynamic growth of years past after two highly challenging years. Premium revenue from Eastern Europe rose 12.2%. The Group’s profit (before taxes) also increased by 53% to €153 million.
Chairman of the Management Board
“UNIQA’s successful development into a European player confirms our strategy of focusing on both Eastern and Western Europe, pursuing internationalisation and regional diversification while aggressively developing the Austrian home market. In the future as well, we will continue to concentrate on all of the 21 European markets in which UNIQA it is already active. By exploiting available growth potential, we will continue to prudently expand the internationalisation of the Group. FROM AUSTRIA TO EUROPE.”