Insurer Uniqa Underwritten Premiums In Romania Fell 20% In 2010, To EUR61M

04.29.2011 By Gavrila Oana

Premiums underwritten in Romania by Austrian insurer Uniqa dropped 20.4% in 2010, to EUR61 million from EUR76.6 million the year before.

Premiums underwritten in Romania by Austrian insurer Uniqa dropped 20.4% in 2010, to EUR61 million from EUR76.6 million the year before.

Romania and Bulgaria were the only markets where the Austrian insurer posted downfalls.

Net revenues from investments in Romania declined last year to EUR2.8 million from EUR9.9 million the year before, according to Uniqa's financial report. Net revenues from investments include interests, dividends and other gains generated by the insurer's invested assets, excluding costs associated with these investments and capital gains or losses.

In Bulgaria, Uniqa's underwritten premiums declined 2.4%, to EUR26.5 million in 2010 from EUR27.15 million in 2009.

The group also has insurance divisions in Austria, Italy, Germany, Switzerland, Lichtenstein, Poland, Hungary, Czech Republic, Slovakia, Ukraine, Serbia, Croatia, Bosnia-Herzegovina, Albania, Kosovo, Macedonia and Montenegro.

In Austria, the insurer's biggest market, underwritten premiums saw a slight increase last year, to EUR3.06 billion last year from EUR3.03 billion in 2009.

At group level, underwritten premiums increased 7.75% in 2010, to EUR5.14 billion from EUR4.77 billion in 2009.

Uniqa posted a net profit of EUR95 million for 2010, up 70% from the EUR56 million reported the year before.

In Romania, Uniqa owns Uniqa Asigurari and Uniqa Asigurari de Viata and a 27% stake in Astra.

Uniqa plans to sell its share in Astra this year, according to its financial report. Last year, Uniqa announced a deal for the sale with Nova Group, which owns 72.68% in Astra.