Uniqa Q1 profit jumps, premiums rise

VIENNA Fri May 17, 2013 2:00am EDT

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VIENNA May 17 (Reuters) - Austrian insurer Uniqa nearly doubled first-quarter earnings from ordinary activities to 116.8 million euros ($150.9 million) as premiums gained almost 10 percent, it said on Friday.

Excluding a gain of 49.1 million euros from selling hotel assets, profit rose 14 percent.

Its combined ratio, a measure of profitability in the property and accident segments, improved to 98.3 percent from 99.4 percent a year earlier.

Group embedded value after minorities swelled 86 percent to 2.86 billion euros in 2012, it said.

($1 = 0.7742 euros) (Reporting by Angelika Gruber, Editing by Michael Shields)

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