Premium development
The international premium volume of the UNIQA Group (including the savings portion of unit- and index-linked life insurance) fell by 4.1 per cent to € 2,297 million in 2011 (2010: € 2,395.4 million) as a result of the development of single premiums. The international share of Group premiums therefore remained almost unchanged year-on-year at 38.4 per cent (2010: 38.5 per cent).
Including the savings portion of unit- and index-linked life insurance (after reinsurance), premiums earned decreased by 4.7 per cent to € 2,109.7 million (2010: € 2,212.9 million). Retained premiums earned (in accordance with IFRS) fell by 3.2 per cent to € 1,972.6 million (2010: € 2,038.5 million).
International premium volume written
Figures in € million
In Central Europe (CE) – Poland, Slovakia, the Czech Republic and Hungary – premiums written fell by 9.0 per cent to € 868.3 million (2010: € 954.5 million). In Eastern Europe (EE) – which consists of Romania and Ukraine – premiums written remained at the prior-year level at € 157.6 million (2010: 158.4 million). In Southeastern Europe (SEE) – Albania, Bosnia and Herzegovina, Bulgaria, Kosovo, Croatia, Macedonia, Montenegro and Serbia – 2011 saw highly encouraging growth of 10.6 per cent to € 187.4 million (2010: € 169.3 million). The strongest premium growth was generated in the Russian market (RU), where premiums increased by 128.2 per cent to € 26.8 million (2010: € 11.7 million).
All in all, the Group’s premiums in Central and Eastern Europe fell by 4.2 per cent to € 1,240.1 million (2010: € 1,294.0 million). Recurring premiums enjoyed extremely positive development in 2011, increasing by 7.7 per cent to € 1,095.3 million (2010: € 1,017.0 million). However, single premium business declined strongly, particularly in Poland, falling by 47.7 per cent to € 144.8 million (2010: € 277.0 million). Central and Eastern Europe’s share of Group premiums amounted to 20.7 per cent (2010: 20.8 per cent) in the 2011 financial year.
In Western Europe (WE) – Germany, Italy, Liechtenstein and Switzerland – the business volume fell by 4.0 per cent to € 1,056.9 million (2010: € 1,101.5 million). Recurring premiums in this region also experienced very strong growth, however, climbing by 9.5 per cent to € 740.0 million (2010: € 676.0 million). Due to the deterioration in Italy, single premiums fell by 25.5 per cent to € 316.9 million (2010: € 425.4 million). Western Europe’s share of Group premiums amounted to 17.7 per cent in 2011 (2010: 17.7 per cent).
Accordingly, the Group’s level of internationalisation at year-end 2011 was 38.4 per cent (2010: 38.5 per cent).
The premium volume written including the savings portion of unit- and index-linked life insurance was broken down among the individual regions of the UNIQA Group as follows:
|
UNIQA Group international markets |
Premiums written1) |
Share of Group premiums | ||||
|
Figures in € million |
2011 |
2010 |
2009 |
2011 | ||
| ||||||
|
Central Europe (CE) |
868.3 |
954.5 |
863.5 |
14.5 % | ||
|
Eastern Europe (EE) |
157.6 |
158.4 |
167.1 |
2.6 % | ||
|
Southeastern Europe (SEE) |
187.4 |
169.3 |
122.1 |
3.1 % | ||
|
Russia (RU) |
26.8 |
11.7 |
0.1 |
0.4 % | ||
|
Western Europe (WE) |
1,056.9 |
1,101.5 |
830.4 |
17.7 % | ||
|
Total international markets |
2,297.0 |
2,395.4 |
1,983.3 |
38.4 % | ||
