UNIQA Austria
- Premiums written (including savings portions from unit-linked and index-linked life insurance) rose by 4.6 per cent to € 4,488.3 million
- Technical result at € 293.3 million
- Combined ratio (gross) decreased from 92.3 per cent to 91.9 per cent
- Financial result increased to € 163.2 million
- Earnings before taxes of € 313.0 million
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written, including savings portions from unit-linked and index-linked life insurance |
4,488.3 |
4,290.0 |
4,086.4 |
Cost ratio |
24.1% |
24.3% |
25.2% |
Administrative expense ratio |
13.5% |
13.5% |
n/a |
Combined ratio (gross before reinsurance) |
91.9% |
92.3% |
94.5% |
Combined ratio (net after reinsurance) |
95.2% |
95.0% |
n/a |
Earnings before taxes |
313.0 |
279.2 |
180.6 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
2,222.1 |
2,119.2 |
1,973.6 |
Insurance revenue |
2,241.3 |
2,118.5 |
1,970.4 |
Insurance service expenses |
–2,059.0 |
–1,954.4 |
–1,862.6 |
Technical result from reinsurance |
–74.6 |
–57.6 |
–34.9 |
Technical result |
107.7 |
106.5 |
72.8 |
Financial result |
145.1 |
113.6 |
6.8 |
Net investment income |
159.1 |
118.7 |
0.7 |
Non-technical result |
–54.8 |
–45.7 |
–39.6 |
Cost ratio |
26.8% |
27.2% |
28.8% |
Combined ratio (gross before reinsurance) |
91.9% |
92.3% |
94.5% |
Earnings before taxes |
182.3 |
160.2 |
28.7 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
1,389.6 |
1,268.0 |
1,162.1 |
Insurance revenue |
1,224.1 |
1,119.4 |
1,033.2 |
Release of the contractual service margin |
105.3 |
94.2 |
85.7 |
Insurance service expenses |
–1,129.7 |
–1,013.6 |
–949.2 |
Technical result from reinsurance |
–0.5 |
–1.7 |
–2.3 |
Technical result |
93.8 |
104.1 |
81.7 |
Financial result |
–5.0 |
–1.5 |
–1.4 |
Net investment income |
182.1 |
171.5 |
–47.1 |
Non-technical result |
–38.1 |
–34.9 |
–19.4 |
Cost ratio |
13.8% |
14.4% |
14.0% |
Earnings before taxes |
50.8 |
67.7 |
60.9 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
876.5 |
902.9 |
950.6 |
Insurance revenue |
254.6 |
281.1 |
237.2 |
Release of the contractual service margin |
80.2 |
88.8 |
101.8 |
Insurance service expenses |
–169.3 |
–228.2 |
–109.7 |
Technical result from reinsurance |
6.4 |
6.6 |
9.9 |
Technical result |
91.7 |
59.5 |
137.4 |
Financial result |
23.1 |
29.3 |
8.2 |
Net investment income |
213.0 |
352.0 |
150.9 |
Non-technical result |
–26.4 |
–20.3 |
–10.6 |
Cost ratio |
50.6% |
41.5% |
43.8% |
Earnings before taxes |
79.9 |
51.4 |
91.1 |
Changes in premiums
The premium volume written at UNIQA Austria in 2024 increased by 4.6 per cent to € 4,488.3 million (2023: € 4,290.0 million).
Premiums written in property and casualty insurance increased in 2024 by 4.9 per cent to € 2,222.1 million (2023:€ 2,119.2 million). In health insurance, premiums written rose by 9.6 per cent to € 1,389.6 million in the reporting period (2023: € 1,268.0 million). However, premiums written in life insurance fell by 2.9 per cent to € 876.5 million (2023: € 902.9 million).
Premiums written, including savings portions from unit-linked and index-linked life insurance – UNIQA Austria
In € million
Change in insurance revenue
The insurance revenue of the UNIQA Austria segment rose in 2024 by 5.7 per cent to € 3,720.0 million (2023: € 3,519.0 million).
The release of the contractual service margin increased slightly overall by 4.9 per cent to € 206.6 million (2023: € 196.9 million).
Insurance revenue in property and casualty insurance increased in 2024 by 5.8 per cent to € 2,241.3 million (2023: € 2,118.5 million).
In health insurance, insurance revenue in the reporting period rose by 9.3 per cent to € 1,224.1 million (2023:€ 1,119.4 million). The release of the contractual service margin increased by 11.8 per cent to € 105.3 million (2023: € 94.2 million).
Insurance revenue in life insurance at UNIQA Austria in 2024 fell by 9.4 per cent to € 254.6 million (2023: € 281.1 million). The release of the contractual service margin decreased by 9.7 per cent to € 80.2 million (2023: € 88.8 million).
Change in insurance service expenses
Insurance service expenses at UNIQA Austria in 2024 increased by 5.1 per cent to € 3,358.0 million (2023: € 3,196.1 million). The main drivers for this were high burdens from natural catastrophes.
The cost ratio in the UNIQA Austria segment nevertheless decreased to 24.1 per cent (2023: 24.3 per cent). The administrative cost ratio was 13.5 per cent in 2024 (2023: 13.5 per cent).
Insurance service expenses in property and casualty insurance increased by 5.4 per cent to € 2,059.0 million (2023: € 1,954.4 million). The cost ratio decreased to 26.8 per cent (2023: 27.2 per cent). The combined ratio (gross before reinsurance) fell to 91.9 per cent (2023: 92.3 per cent) due to the run-off gains and a positive development of costs despite the significant impact from natural catastrophes.
In health insurance, insurance service expenses grew by 11.5 per cent to € 1,129.7 million in 2024 (2023:€ 1,013.6 million). The cost ratio in this area decreased to 13.8 per cent (2023: 14.4 per cent).
In life insurance, insurance service expenses fell by 25.8 per cent to € 169.3 million (2023: € 228.2 million). The life insurance cost ratio in the UNIQA Austria segment nevertheless increased to 50.6 per cent (2023: 41.5 per cent).
Technical result from reinsurance
The technical result from reinsurance in 2024 amounted to €–68.7 million (2023: €–52.8 million).
Technical result
The technical result in the UNIQA Austria segment increased in 2024 to € 293.3 million (2023: € 270.1 million).
Financial result
The net investment income of UNIQA Austria decreased in 2024 to € 554.3 million (2023: € 642.2 million). The financial result increased to € 163.2 million (2023: € 141.5 million).
Net investment income from unit-linked and index-linked life insurance amounted to € 186.0 million in 2024(2023: € 179.6 million).
Non-technical result
The non-technical result amounted to € –119.3 million in 2024 (2023: € –100.9 million). Other income rose to € 19.5 million (2023: € 18.7 million), while other expenses increased by 16.0 per cent to € 138.8 million (2023: € 119.7 million).
Earnings before taxes
Operating profit grew by 8.5 per cent to € 337.1 million due to the increased financial result (2023: € 310.7 million). Earnings before taxes in the UNIQA Austria segment increased by 12.1 per cent to € 313.0 million (2023: € 279.2 million).
Earnings before taxes – UNIQA Austria
In € million
In property and casualty insurance, earnings before taxes increased to € 182.3 million (2023: € 160.2 million), while in health insurance they declined by 25.0 per cent to € 50.8 million (2023: € 67.7 million). In life insurance, on the other hand, earnings before taxes rose to € 79.9 million (2023: € 51.4 million).