AUSTRIA: UNIQA WITHDRAWS FROM INTERRISK

Article Abstract:

Uniqa is giving up its 50% stake in InterRisk . Wiener Stadtische is raising its stake from 33.33% to 75% and Donau to 25%. InterRisk, which is active in Germany, generated a premium income of DM 84mn in 1999.

Donau Allgemeine Versicherungs-AG

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GERMANY: INTERRISK TAKES OVER FUTURA INSURANCE

Article Abstract:

In Germany, Munich-based Generali Lloyd Versicherung AG has sold Futura Lebensversicherung AG of Frankfurt to InterRisk Versicherung-AG, a Wiesbaden-based subsidiary of Wiener Stadtische Allgemeine Versicherung AG. Futura Lebensversicherung's core business is accident insurance, and it specialises in risk insurance. In 1999 the company generated a premium income of DM 73.3mn. The company is to establish itself as a niche insurer under the name InterRisk Lebensversicherung AG. The company is to launch further specialist insurance forms.

Life Insurance, Direct Life Insurance Carriers, Fire, marine, and casualty insurance, Fire & Theft Insurance, Business insurance, Futura Lebensversicherung AG

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AUSTRIA: UNIQA PROFIT FALLS

Article Abstract:

According to preliminary figures, the Austrian insurance group Uniqa saw a 4.7% increase in premium income to Sch 29bn in 1999. Payouts to the insured rose 5.4% to Sch 20.3bn. The 25% fall in profit on ordinary activities to about Sch 800mn is explained with high write-offs for fixed-interest securities, extraordinary write-offs for real estate, the costs of introducing new products, and increased claims in damage and accident insurance.

Sales, profits & dividends, Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS

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