EANS-Adhoc: UNIQA Insurance Group AG / UNIQA on track for a significant rise in EBT in 2014 as a whole after robust development in the first nine months-EBT target for 2015 adjusted to between EUR 425

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Financial Figures/Balance Sheet/9-month report
26.11.2014

UNIQA on track for a significant rise in EBT in 2014 as a whole after
robust development in the first nine months-EBT target for 2015
adjusted to between EUR 425 million and EUR 450 million

· After a robust development in the first three quarters of 2014,
UNIQA generates EBT of EUR 275.2 million (+3.3 per cent) · UNIQA
specifies outlook for 2014 as a whole ("significant increase in
comparison to 2013") with EBT forecast of EUR 370 - 380 million (+20
per cent) and consolidated net profit of EUR 275 - 285 million ·
UNIQA adjusts the original EBT target for 2015("up to EUR 550
million") in line with the economic environment and currently
anticipates a double-digit percentage increase in EBT in 2015
compared to 2014 to a level of EUR 425 - 450 million

The UNIQA Insurance Group (UNIQA) improved its earnings before tax
(EBT) by 3.3 per cent to EUR 275.2 million (1-9/2013: EUR 266.3
million) in a challenging economic environment in the first three
quarters of 2014. Adjusted for the non- recurring effect (in the
amount of EUR 51.6 million) from the sale of the hotel group in 2013
and despite the complete write-off of EUR 35.4 million on Hypo
Alpe-Adria-Bank International bonds, EBT rose by more than 28 per
cent. This increase in earnings was attributable to a 5.3 per cent
rise in retained premiums earned in accordance with IFRS (i.e. not
including the savings portion of unit- and index-linked life
insurance), a EUR 30.3 million (-9.9 per cent) reduction in
administrative expenses, an improved technical profit of EUR 120.0
million (+94.1 per cent) and a 4.3 per cent increase in net
investment income to EUR 586.2 million.

Outlook for 2014 Despite the subdued economy, for 2014 as a whole
UNIQA anticipates an increase in retained premiums earned in
accordance with IFRS of around 4 per cent compared to 2013, a further
improvement in the cost ratio to a little over 23 per cent, stable
investment income and EBT of between EUR 370 million and EUR 380
million. This represents an increase of more than 20 per cent in
comparison to the EBT of EUR 305.6 million generated in 2013. UNIQA
expects to generate a consolidated profit (after taxes and minority
interests) of EUR 275 million to EUR 285 million in 2014. The outlook
for 2014 assumes that there will be no negative developments on the
capital markets and no extraordinary large losses caused by natural
disasters in the remaining weeks of the year. In line with the
dividend policy, UNIQA intends to distribute between 40 and 50 per
cent of the consolidated profit as a dividend again for the 2014
financial year.

Targets for 2015 In light of the fact that economic growth has slowed
considerably in large parts of Europe in recent months and the
economic forecasts for 2015 were recently lowered further, UNIQA now
anticipates weaker growth for the coming year than originally
expected. Growth is also held back by the very low interest rate
level, which decreased further over the course of 2014 and is not
expected to see a turnaround in the near future, either. Combined
with increasing geopolitical tensions, UNIQA believes that this
results in an unusually high degree of uncertainty with regard to the
medium-term economic development in Europe.

This unstable environment prompted UNIQA to revise its planning in
comparison to the original targets, which had specified an increase
in EBT to up to EUR 550 million for the 2015 financial year. UNIQA
currently still expects double-digit percentage growth in the profit
on ordinary activities to a level of EUR 425 million to EUR 450
million, moderate growth in premiums and a further improvement in the
cost ratio in 2015 as against 2014.

In the medium term, UNIQA will increasingly focus on managing costs,
improving efficiency and further increasing the profitability of its
core insurance business.

Financial report for1st - 3rd quarter of 2014 In light of the
specified outlook, UNIQA will publish its financial report for the
1st - 3rd quarter of 2014 on the Group website www.uniqagroup.comon
26 November 2014, a day earlier than originally announced in the
financial calendar.

Key data for the first three quarters of 2014

Change
1-9/2014 1-9/2013 in %
Figures in

millions of
euros unless
otherwise
stated

Premiums
written
including the
savings portion
from unit- and
index-linked
life insurance 4,492.6 4,447.3 +1.0

Premiums earned
including the
savings portion
from unit- and

index-linked
life insurance 4,271.0 4,201.3 +1.7

Retained
premiums earned
in accordance
with IFRS 3,900.7 3,703.5 +5.3
... of which
property and
casualty
insurance 1,869.8 1,834.1 +1.9
... of which
health

insurance 718.5 701.8 +2.4
... of which
life insurance 1,312.4 1,167.7 +12.4

Retained
insurance
benefits1) -3,175.5 -2,960.1 +7.3

Operating
expenses2) -953.9 -968.9 -1.6

Cost ratio
(after
reinsurance) 22.3% 23.1% -

Combined ratio
(after

reinsurance) 98.9% 98.8% -

Net investment
income 586.2 561.8 +4.3

Technical
result 120.0 61.8 +94.1

Profit on
ordinary
activities 275.2 266.3 +3.3

Consolidated
net profit 189.1 209.7 -9,9

Investments3) 29,119.3 26,883.2 +8,3

Total equity
including non-
controlling

interests 3,197.7 2,002.4 59.7

1) Including expenses for profit-sharing and premium refunds 2) Less
reinsurance commissions and profit shares from reinsurance business
ceded. 3) Including owner-occupied land and buildings, land and
buildings held as

financial investments, shares in associated companies, unit- and index-linked
life insurance investments and liquid funds.

Forward-looking statements

This press release contains statements referring to the future
development of the UNIQA Group. These statements present estimates
which were reached on the basis of all of the information available
to us at the present time. If the assumptions on which they are based
do not occur, the actual results may deviate from the results
currently expected. As a result, no liability is accepted for this
information.

Further inquiry note:
UNIQA Insurance Group AG
Norbert Heller
Tel.: +43 (01) 211 75-3414
mailto:norbert.heller@uniqa.at

end of announcement euro adhoc
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issuer: UNIQA Insurance Group AG
Untere Donaustraße 21
A-1029 Wien
phone: 01/211 75-0
mail: investor.relations@uniqa.at
WWW: http://www.uniqagroup.com
sector: Insurance
ISIN: AT0000821103
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English