AUSTRIA: GENERALI GROWING IN THE EAST

Article Abstract:

Generali Holding Vienna AG, which is active in Austria, Poland, the Czech Republic, Slovakia, Hungary, Romania and Slovenia, saw a 34.4% increase in premiums from outside Austria in year 2000. Premium income from the Austrian market grew 2%. Premiums from non-life insurance increased 4.9% to Sch 19.9bn, while life assurance premiums grew 8.4% to Sch 10.4bn. The profit for the year of Generali Holding Vienna AG fell from Sch 495.3mn to Sch 262.1mn and that of the group from Sch 815.4mn to Sch 302.3mn.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS

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AUSTRIA: GENERALI RESULTS FOR 1999

Article Abstract:

The Austrian Generali insurance group saw an increase in profit on ordinary activities from Sch 320mn to Sch 572mn in 1999. While non-life premiums stagnated, premiums from life insurance business increased 11.1% to Sch 5.9bn and accounted for more than half of overall premium income. Medical insurance premiums increased 3.2% to Sch 1.6bn. Generali expects the reduction of guaranteed yield for new life policies at the beginning of July 2000 to result in increased sales in the first half.

Surety insurance, Medical Service and Health Insurance, Generali

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AUSTRIA: MEDICAL INSURANCE PREMIUMS TO RISE

Article Abstract:

Werner Reimelt, chief executive of the insurance company Merkur, expects the premiums of medical insurance in Austria to rise by 2.5-4% in February 2000. The increase is a result of longer life expectancy, increased treatment costs and more frequent hospital visits. Gregor Kozak, spokesman for the insurance association, says that also the premiums of motor insurance will be increased. He refers to the disastrous development of profitability in this segment in 1999.

Commodity & service prices, Merkur

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