Continuos vitality in life assurance
The extraordinary increase in premiums earned, of 38.4% in the life assurance line, contributed significantly to the pleasing overall result. Thereby the growth segment life achieved premiums written volume of ATS 4.5 billion (EUR 326.6 million) in the first quarter 2000. The strong development of single premium business in particular is reflected. The strong increase in premium income contrasts to an increase in paid benefits of 15.1%.

Increased premium income in health insurance
The health insurance line improved the premiums written volume by 2.4% to 2.2 billion (EUR 158.7 million) in the first three months of the year. The possibility for certain professional workers to choose a private mandatory health insurance since the beginning of the year contributed significantly to this. Simultaneously the paid benefits increased by 14.0% to ATS 1.7 billion (EUR 126.3 million). This is due to the fact that, determined by the system, there was a decrease in benefits paid in the comparable quarter the previous year. An increase of about 2% in the benefits ratio is expected for the whole year 2000.

Property and casualty insurance in difficult motor vehicle environment
The premiums earned volume in direct business increased by 2.7% to ATS 3.5 billion (EUR 254.0 million) in the property and casualty insurance line.

The number of concluded motor vehicle insurance policies increased by 6.5%. As a result of the unfavourable general conditions, this growth generated a premium increase of only 2.9%. The Salzburger Landes-Versicherung AG managed to clearly differentiate itself in this segment with an above average increase in premium income of 61.8% as a result of doing much business in Germany.

The benefits paid increased by 4.1% to ATS 1,6 billion (EUR 116.9 million).

Domestic companies of the UNIQA Group Austria        

UNIQA Versicherungen AG
Die UNIQA Versicherungen AG is the holding company of the UNIQA Group Austria and is the only Group company listed on the Vienna stock exchange. It is the central reinsurer of the operative Group companies.

The premium income of the company from active reinsurance amounted to ATS 1,320.7 million (EUR 96.0 million) in the first three months of the year 2000. The vast major thereof – ATS 1,185.7 million (EUR 86.2 million) – comes from the takeover within the Group.

The total loss amounted to ATS 916.3 million (EUR 66.6 million), of which ATS 606.0 million (EUR 44.0 million) was retained.

UNIQA Personenversicherung AG
The UNIQA Personenversicherung AG conducts health, life and accident insurance.
The premiums written volume of the company improved by 9.1% to ATS 3,573.9 million (EUR 259.7 million) in the first quarter 2000. Of that, 55.8% accrued to health insurance, 36.3% to life assurance and 7.9% to accident insurance. Paid benefits amounted to ATS 3,145.2 million (EUR 228.6 million).

UNIQA Sachversicherung AG
The UNIQA Sachversicherung AG exclusively conducts property and casualty insurance.
The premiums written volume of the company increased in the reporting period by 0.2% to ATS 2,446.3 million (EUR 177.8 million). This compares to paid benefits to the value of ATS 1,198.1 million (EUR 87.1 million).

Raiffeisen Versicherung AG
The market leader amongst Austria’s life insurance companies again operated with above average success in the first three months of 2000, and achieved an increase in premiums written of 43.5% in direct business. Thereby the premium volume increased by ATS 982.3 million (EUR 71.4 million) to ATS 3,240.5 million (EUR 235.5 million).
The paid benefits increased in comparison by only 9.2% to ATS 785.1 million (EUR 57.1 million).

Salzburger Landes-Versicherung AG
The classic regional insurer improved its premiums written volume during the reporting period by 14.0% to ATS 533.0 million (EUR 38.7 million).
Benefits paid increased by 14.8% to ATS 178.1 million (EUR 12.9 million) at the same time.

Collegialität Versicherung AG
The Collegialität Versicherung AG operates in the market under the name ‘Collegialität direct’, and specialises in direct marketing of accident, life and health insurance products. It had premiums written growth for the first three months of 2000 of 13.1% to ATS 9.2 million (EUR 0.7 million). Benefits paid amounted to ATS 0.8 million (EUR 0.1 million).

Foreign insurance companies of the UNIQA Group Austria         
Forcing growth abroad has a high strategic importance within the Group. On the planned path to becoming a leading insurance group in Central Europe, we are consolidating our position in established neighbouring countries such as Italy and Switzerland. In addition, massive amounts for investment are being made available for the prosperous Central and Eastern Europe markets.
After the redeveloping the business in the Czech and Slovak Republics, the expansion of business activities Croatia and the realignment of activities in Hungary and especially, the market entry into Poland, have high priority. In the short term, the share of the foreign premium revenue should increase from 4.7% to 15%. The brand image of the UNIQA Group in Austria will also be used for market positioning abroad within the scope of the internationalisation strategy. In the medium term, the market branding of all foreign subsidiaries should be unified. The synergies resulting therefrom will be used for a uniform communication appearance, which will be adapted to adequately reflect the particular situation of the individual countries.
The first quarter 2000 was very satisfactory for all foreign Group subsidiaries, whereby especially the CRP had an above average growth. The situation in the Slovak Republic is difficult because of the general economic situation. The subsidiaries in Italy and Switzerland show a very pleasing development.

Capital investments increased    
The total capital investments of the UNIQA Group as at the end of March was capitalised to the amount of – excluding the deposits receivable from the reinsurance business – ATS 141.4 billion (EUR 10.3 billion). Herewith it was ATS 9.7 billion (EUR 702.9 million) above the previous year’s value. The investment income of the domestic and foreign insurance companies included in the consolidated financial statements amounted ATS 2.1 billion (EUR 155.9 million) in the first quarter 2000, and thereby exceeded the comparable previous year’s result by 8.4%.

Moderate cost development         
The total costs (excluding commission) of the Group companies amounted to ATS 1.2 billion (EUR 89.7 million) in the first quarter 2000, 2.0% below the comparable value of the previous year.
The commissions in the reporting period amounted to about ATS 0,6 billion (EUR 46.9 million) – 19.9% more compared to the previous year.

Outlook       
The business activities of the UNIQA Group Austria are marked by several different priorities during the course of the year. First of all, the financial year 2000 stands under the sign of the project "Beweis" (proof), the cornerstone for a comprehensive perennial quality program. In connection with this, the quality demands and the service ability will be strongly communicated and presented outside UNIQA.
Of special importance to the Group is the line expansion of the Raiffeisen Versicherung, which offers its own property products since April. In health insurance, the expansion of the medical assistance takes centre stage. The property insurance line must improve the results in the motor vehicle segments through the containment of discount possibilities and rate increases.

Forcing foreign business continues to be a priority. After the acquisition of 72% of the Friuli Venezia Giulia Assicurazioni "La Carnica" S.p.A. in April this year, the focus of our efforts is the acquisition of the POLONIA property and the POLONIA life insurance. A binding letter of intent was signed in May. At present the structuring and processing of the purchase is being prepared. The acquisition should be concluded by September 2000 at the latest. With the acquisition of CARNICA and POLONIA the achieved Group foreign premium volume will almost double in the coming year. 

The business development of the UNIQA Group Austria in 2000 leads to expecting a marked improvement of the Group results.