The significant growth in international business showing a premium increase by 39.7 per cent to Euro 289.0 million was endorsed by the successful development on the domestic market - plus 8.1 per cent to Euro 2,136.8 Mio. For reasons of profitability and risk reduction in favour of promoting recurring business, single premium and special products in life were further withdrawn.In 2002, UNIQA Group Austria reached a total premium volume of  Euro 2,671.8 million, which will increase by Euro 420 million, when AXA Group Austria joins UNIQAas planned in 2003. 

The share of UNIQA’s international companies in the recurring premium volume rose from7.0 per cent in 2000 to 9.5 per cent in  2001 and 11.9 per cent last year. “We are planning to raise the share of international business in total corporate premium income to 15 per cent and reach a sustained 15 per cent gross ROE (Austrian GAAP) by 2005”, says Konstantin Klien, CEO of UNIQA Versicherungen AG, which is listed on the Vienna Stock Exchange.

Costs
The total costs of the domestic companies were reduced by 7.9 per cent to Euro 351.3 million. Evaluating the last two years together, this development is even more encouraging with a reduction of 11.4 per cent or Euro 45.3 million. Konstantin Klien is convinced that "UNIQA’s cost-saving plans and their consistent implementation were responsible for a promising and detached cost and premium development which was also clearly appreciated in Standard & Poor's recent A-rating of UNIQA.“  

Steady Dividend and Excellent Performance of the UNIQA Share
On the basis of the preliminary figures for 2002, the planned dividend payment will remain unchanged. Klien affirms, “We have – no doubt - been affected by the negative performance of the stock markets. Our share purchase portfolio, however, has not exceededaverage in the last few years and our real estate sales were limited. This type of long-term, preserving and stable investment policy, a high level of reserves in real estate (approx. Euro 400 million), and our strong capitalisation on the Group basis have made this difficult year for insurance business somewhat more easy to live through”.

With a performance of more than 26 per cent, the UNIQA share is one of the front-runners on the Vienna Stock Exchange and holds clearly above the general insurance index. UNIQA’s market capitalisation increased from Euro 725 million by the end of 2001 to just under Euro 914 million at the end of 2002. UNIQA’s dividend payment will correspond to previous years and reflects a stable dividend policy for its shareholders.

MLP
As of December 2002, the UNIQA Group holds 100 per cent of  MLP-Lebensversicherung AG, Wien. The Management Board has been newly appointed in the course of the Company’s integration; the first half of 2003 will be dedicated to rebranding and positioning measures within the UNIQA Group.

Present Members of Board of MLP Lebensversicherung AG, Wien, are: Josef Thiemer (who was also Member of the previous MLP Board), Karl Unger (Head of the Competence Center for Life, UNIQA Group),  Christian Sedlnitzky (Head of the Competence Center for Bankassurance, UNIQA Group) and  Werner Holzhauser.

„It is essential for the UNIQA Group to have the unit-linked business now fully integrated into the Group. It is our clear intention to exploit the existing know-how and to offer a special range of products to UNIQA’s domestic and international companies”, explains Konstantin Klien.

AXA Österreich
At the end of 2002, the Raiffeisen Group Austria and the Austria Versicherungsverein auf Gegenseitigkeit acquired the AXA Group Austria from its German owners. Subject to the approval of the anti-trust and regulatory authorities AXA Austria and its Hungarian and Liechtenstein companies are to be integrated into the UNIQA Group. Konstantin Klien thinks that “the proposed transaction already announced by our core share-holders strengthens our leading position on the Austrian market, creates economies of scale on the Hungarian market, enhances UNIQA’s opportunities in Central Eastern Europe und represents a big challenge for the months to come."AXA Group Austria currently reports a premium volume of approx. Euro 420 million.