Uniqa net profit rises 13.8 pct

VIENNA Fri May 25, 2012 2:24am EDT

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VIENNA May 25 (Reuters) - First-quarter net profit at Austrian insurer Uniqa rose 13.8 percent to 30.4 million euros ($38.3 million), it said on Friday, giving no outlook for 2012.

Current premiums rose 2.6 percent to 1.61 billion euros, while overall premiums fell 5.4 percent to 1.70 billion.

Its combined ratio dipped to 100.7 percent from 100.9 a year earlier, while it cut its exposure to peripheral euro zone sovereign debt by 43 percent from the end of 2011 to a nominal 1.17 billion euros. ($1=0.7948 euros) (Reporting by Michael Shields)

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