UNIQA International
- Premiums written (including savings portions from unit-linked and index-linked life insurance) rose by 13.9 per cent to € 3,174.6 million
- Technical result decreased slightly to € 241.7 million
- Combined ratio (gross) increased from 85.6 per cent to 89.0 per cent
- Financial result increased to € 78.4 million
- Earnings before taxes of € 214.4 million
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written, including savings portions from unit-linked and index-linked life insurance |
3,174.6 |
2,787.9 |
2,450.0 |
Cost ratio |
37.8% |
37.6% |
37.7% |
Administrative expense ratio |
15.5% |
15.5% |
n/a |
Combined ratio (gross before reinsurance) |
89.0% |
85.6% |
86.1% |
Combined ratio (net after reinsurance) |
92.6% |
91.6% |
n/a |
Earnings before taxes |
214.4 |
229.8 |
91.1 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
2,280.4 |
1,988.5 |
1,698.1 |
Insurance revenue |
2,099.2 |
1,843.3 |
1,579.1 |
Insurance service expenses |
–1,869.1 |
–1,577.0 |
–1,359.9 |
Technical result from reinsurance |
–73.8 |
–112.4 |
–119.3 |
Technical result |
156.4 |
153.9 |
99.8 |
Financial result |
47.2 |
37.7 |
3.4 |
Net investment income |
83.1 |
63.5 |
18.4 |
Non-technical result |
–95.9 |
–53.0 |
–40.3 |
Cost ratio |
35.9% |
35.6% |
35.6% |
Combined ratio (gross before reinsurance) |
89.0% |
85.6% |
86.1% |
Earnings before taxes |
95.6 |
125.5 |
48.0 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
136.9 |
120.2 |
113.8 |
Insurance revenue |
131.7 |
115.3 |
106.6 |
Release of the contractual service margin |
0.6 |
0.5 |
0.3 |
Insurance service expenses |
–125.5 |
–96.6 |
–89.3 |
Technical result from reinsurance |
–0.3 |
–0.8 |
–0.3 |
Technical result |
6.0 |
17.9 |
17.0 |
Financial result |
–0.1 |
–0.2 |
–0.1 |
Net investment income |
0.5 |
0.4 |
0.3 |
Non-technical result |
–5.2 |
–3.8 |
–3.0 |
Cost ratio |
38.3% |
36.3% |
40.6% |
Earnings before taxes |
0.7 |
13.9 |
13.9 |
In € million |
2024 |
2023 |
2022 |
|---|---|---|---|
Premiums written |
757.3 |
679.2 |
638.1 |
Insurance revenue |
524.1 |
471.2 |
422.1 |
Release of the contractual service margin |
117.6 |
103.4 |
94.2 |
Insurance service expenses |
–434.3 |
–364.1 |
–333.8 |
Technical result from reinsurance |
–10.4 |
–9.2 |
–9.3 |
Technical result |
79.4 |
98.0 |
79.0 |
Financial result |
31.3 |
27.0 |
–20.9 |
Net investment income |
49.1 |
43.8 |
–3.7 |
Non-technical result |
29.5 |
–12.9 |
–11.0 |
Cost ratio |
45.4% |
45.9% |
44.9% |
Earnings before taxes |
118.1 |
90.4 |
29.2 |
Changes in premiums
The premium volume written at UNIQA International in 2024 increased by 13.9 per cent to € 3,174.6 million (2023: € 2,787.9 million).
Premiums written in property and casualty insurance increased by 14.7 per cent to € 2,280.4 million in 2024 (2023:€ 1,988.5 million). In health insurance, premiums written rose during the reporting period by 13.9 per cent to € 136.9 million (2023: € 120.2 million) and in life insurance by 11.5 per cent to € 757.3 million (2023: € 679.2 million).
Premiums written, including savings portions from unit-linked and index-linked life insurance – UNIQA International
In € million
Change in insurance revenue
The insurance revenue of the UNIQA International segment rose in 2024 by 13.4 per cent to € 2,755.0 million (2023: € 2,429.9 million).
The release of the contractual service margin increased by 6.7 per cent to € 130.2 million (2023: € 122.0 million).
Insurance revenue in property and casualty insurance increased in 2024 by 13.9 per cent to € 2,099.2 million (2023: € 1,843.3 million).
In health insurance, insurance revenue in the reporting period rose by 14.2 per cent to € 131.7 million (2023: € 115.3 million). The release of the contractual service margin increased to € 0.6 million (2023: € 0.5 million).
In life insurance, insurance revenues in the UNIQA International segment grew in 2024 by 11.2 per cent to € 524.1 million (2023: € 471.2 million). The release of the contractual service margin increased by 13.7 per cent to € 117.6 million (2023: € 103.4 million).
Change in insurance service expenses
Insurance service expenses in the UNIQA International segment in 2024 increased by 19.2 per cent to € 2,428.9 million (2023: € 2,037.7 million).
The cost ratio in the UNIQA International segment increased slightly to 37.8 per cent (2023: 37.6 per cent). The administrative cost ratio was 15.5 per cent in 2024 (2023: 15.5 per cent).
Insurance service expenses in property and casualty insurance increased by 18.5 per cent to € 1,869.1 million (2023: € 1,577.0 million). The cost ratio rose to 35.9 per cent as a result (2023: 35.6 per cent). The combined ratio (gross before reinsurance) increased to 89.0 per cent (2023: 85.6 per cent).
In health insurance, insurance service expenses grew by 29.8 per cent to € 125.5 million in 2024 (2023: € 96.6 million). The cost ratio in this area increased to 38.3 per cent (2023: 36.3 per cent).
In life insurance, insurance service expenses rose by 19.3 per cent to € 434.3 million (2023: € 364.1 million). The cost ratio in life insurance was 45.4 per cent (2023: 45.9 per cent).
Technical result from reinsurance
The technical result from reinsurance in 2024 amounted to €–84.4 million (2023: €–122.4 million).
Technical result
The technical result in the UNIQA International segment in 2024 decreased by 10.4 per cent to € 241.7 million (2023: € 269.8 million).
Financial result
The net investment income of UNIQA International increased in 2024 to € 132.7 million (2023: € 107.7 million). The financial result increased to € 78.4 million as a result (2023: € 64.5 million).
Net investment income from unit-linked and index-linked life insurance amounted to € 146.9 million in 2024 (2023: € 126.5 million).
Non-technical result
The non-technical result amounted to € –71.6 million in 2024 (2023: € –69.7 million). Other income increased by 13.7 per cent to € 160.2 million (2023: € 140.9 million), while other expenses rose by 10.1 per cent to € 231.8 million (2023: € 210.6 million).
Earnings before taxes
Operating profit in the UNIQA International segment fell by 6.1 per cent to € 248.6 million (2023: € 264.6 million). Earnings before taxes declined by 6.7 per cent to € 214.4 million (2023: € 229.8 million).
In property and casualty insurance, earnings before taxes decreased by 23.9 per cent to € 95.6 million (2023: € 125.5 million), while in health insurance they declined by € 0.7 million (2023: € 13.9 million). Finally, in life insurance, earnings before taxes grew to € 118.1 million (2023: € 90.4 million).
Earnings before taxes – UNIQA International
In € million
In the Central Europe region (CE) – Poland, Slovakia, Czechia and Hungary – earnings before taxes in the 2024 financial year decreased by 2.6 per cent to € 191.6 million (2023: € 196.8 million). In Eastern Europe (EE) – consisting of Romania and Ukraine – they fell to € 34.4 million (2023: € 37.8 million). In Southeastern Europe (SEE) – comprising Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Montenegro, North Macedonia and Serbia – the earnings before taxes in the 2024 financial year declined to € 26.1 million (2023: € 32.9 million). In Western Europe (WE), earnings before taxes amounted to €–1.0 million (2023: € 0.3 million).