Sustainable growth in Austria and CEE
More than 17 million customers in Austria and CEE place their trust in the UNIQA Group’s first-class service. Our goal is to be recognised as a leading service provider in both markets and to guarantee customer satisfaction at the highest level – with a rating of at least 4.5 out of 5 stars.
With more than 200 years of experience, UNIQA is one of the leading insurance providers in Austria. We have significantly strengthened our market position in the CEE region in recent years through the successful integration of the former AXA companies in Poland, Slovakia and Czechia. The UNIQA Group continues to focus consistently on profitable growth despite the geopolitical and economic challenges.
Austria: strong market position and attractive growth opportunities
We secure our leading position in Austria with innovative products, efficient sales and distribution and strong brands, such as UNIQA and Raiffeisen. Our market share of around 21 per cent makes us the second largest insurance company in Austria and we have also been the undisputed market leader in private health insurance for many years. We support 3.7 million customers in Austria, either directly or through our banking and sales partner Raiffeisen. We see great potential in the healthcare sector in particular over the next few years, as this is a market with high growth momentum. We are therefore expanding our activities specifically in this business segment.
The Austrian insurance market also offers interesting long-term development potential. Austrians currently invest around €2,228 per capita per year in insurance products – thereby remaining noticeably below the European average despite the country’s high standard of living. A stable economic situation and a prudent regulatory environment also ensure good prospects.
CEE: growth through rising insurance density
Three quarters of our customers live in Central and Eastern Europe, i.e. more than 14 million customers. This region already accounts for around 40 per cent of the UNIQA Group’s total premiums. At €290, the average insurance expenditure per capita is still significantly lower than in Austria. The average premium is around €466 in our core markets of Poland, Slovakia, Czechia and Hungary, with the trend still rising.
With a total population of around 152 million people, the CEE region offers enormous potential. It has been experiencing a remarkable economic upturn for several years. It soon managed to overcome the economic downturn caused by Covid-19, and the insurance markets in CEE also recovered rapidly. Following the strong growth in 2022 and 2023, our premium volume in the region rose significantly again in 2024, increasing by almost 14 per cent.
The economy in the CEE region remains robust despite global uncertainties and challenging economic conditions, particularly the recession in Germany. Economic momentum is being supported above all by rising real wages, which are boosting private consumption. As the economic convergence process in the region is not yet complete, we continue to expect growth rates that significantly exceed those for the eurozone.
We expect a steady increase in insurance density in the coming decades in view of this positive development and the economic catch-up process. Experience has shown that in addition to motor vehicle liability insurance – traditionally the strongest-selling business line in the CEE region – the demand for home and homeowner insurance as well as personal protection, such as accident and health insurance, is continuously increasing as prosperity rises. UNIQA is making the most of this growth in a targeted manner and is banking on strong sales and proven partnerships with Raiffeisen, the Addiko Group in the Balkans and mBank in Poland.
In order to allow us to focus even more effectively on our core markets in CEE, we recently withdrew from Albania, Kosovo and North Macedonia and sold our companies in these countries, which most recently represented around 1.5 per cent of our total premium volume. Assuming that the required regulatory approvals are granted, we expect the transaction to complete over the course of 2025. Our planned withdrawal from Russia was already completed in 2024 with the sale of our subsidiary “Raiffeisen Life”.
We integrated our activities in Romania into the highly successful Southeastern Europe region in 2024 (formerly SEE5, now SEE6). These markets were already merged in 2022 in order to optimise the operating performance of the insurance companies active in these markets. Business in Romania will also benefit from the success of this measure in the future.
CEE: a region with major growth potential
Insurance spending per capita and year in €
