Uniqa raises dividend after earnings leap

VIENNA Fri Feb 28, 2014 2:14am EST

Related Topics

VIENNA Feb 28 (Reuters) - Austrian insurance group Uniqa said on Friday it would propose raising its dividend to 0.35 euros per share from 0.25 euros in 2012 after net profit more than doubled.

Consolidated net profit for 2013 was 283 million euros ($387 million) and pretax earnings rose 50 percent on premiums that increased by 6 percent to 5.9 billion euros.

Uniqa's net combined ratio improved to 99.9 percent from 101.3 percent as it paid out slightly less in claims than it received in premiums.

The insurer said it targeted a significant improvement in pretax profit in 2014, which would require a stable capital market environment, further improvement in the economy and losses from natural disasters within a normal range. ($1 = 0.7309 euros) (Reporting by Georgina Prodhan; Editing by Michael Shields)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.