Uniqa keeps outlook despite Ukraine crisis

VIENNA Fri May 23, 2014 2:19am EDT

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VIENNA May 23 (Reuters) - Austrian insurer Uniqa's first-quarter earnings before tax fell 30.3 percent to 81.4 million euros ($111.16 million), but rose by a fifth excluding a gain of 49.1 million euros a year ago from selling hotel assets, it said on Friday.

Its combined ratio, a measure of profitability in the property and accident segments, improved to 97.8 percent from 98.3 percent a year earlier.

It stuck to its forecast for a significant gain in 2014 profit, noting its business in Ukraine and Russia was growing despite the political crisis between the two countries.

It could not yet estimate the hit it faced from widespread Balkans flooding, but saw damages in Austria of around 5 million euros. ($1 = 0.7323 Euros) (Reporting by Angelika Gruber, writing by Derek Brooks, Editing by Michael Shields)

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