The premium volume in property and casualty insurance increased by 23.4% to 542.3 million euro. The life assurance recurring premium income increased by 11.5% to 346.3 million euro. Single premium and special product business continued to be withdrawn because of profitability and risk considerations in the second quarter and reduced by 57.5% to 132.1 million euro. In total, the premium revenue in life assurance therefore reduced by 23.0% to 478.4 million euro. The premium in health insurance could be increased by 3.5% to 346.3 million euro. Total paid benefits remained at 857.6 million euro, a marginal increase of 0.8% on the previous years level.

The trend to improve the actuarial results was successfully continued, with the achievement of a combined ratio of below 100%. 

The total capital investments of the UNIQA Group Austria – excluding the deposits receivable from the reinsurance business – amounted to 11,620.9 million euro / +4,5% at the end of June 2002. The current investment income increased by 2.5% to 317.9 million euro in the first six months of this financial year. The poor performance of the stock markets worldwide encumbered the financial results in the first half-year with a definite value reduction.

The costs of the Group companies could be reduced by 16.3% to 182.4 million euro compared to the same period the previous year.

The continued development in this financial year will largely depend on the situation of the capital markets. Should there be no significant recovery of the stock markets by the end of the year, then a decline in the Group results is to be expected. From today’s point of view, an unchanged dividend level of 16 cents per share is envisaged for the year 2002.

The catastrophic thunderstorms and floods in large parts of Austria in the middle of the third quarter represents a setback for the – up to now outstanding development –actuarial results in the property insurance.