The evolution was impacted by the accentuation of effects generated by measures aimed at lowering the share of third-party motor vehicle insurance (RCA) and voluntary car insurance (CASCO) on the leasing segment, in the company’s portfolio, as well as in the context created by the COViD-19 pandemic.
The net profit registered by both Uniqa companies in January-September 2020 reached EUR3.2 million, under IFRS, due to an increased damage claim volume on the automotive insurance segment, after lifting the mobility restrictions implemented during the period of the state of emergency, per data provided by Uniqa officials on Monday.
On the non-automotive insurance segment, the company reported a 10% year-over-year increase, seeing gross underwritings of EUR26.1 million. The segments contributing the most to this increase remained home insurance (+10%), fire insurance (+39%) and liability insurance (+47%).
Life insurer Uniqa Asigurari de Viata reported gross underwritings of EUR12.6 million in the first nine months of 2020, under IFRS, down 7% on the year. In the third quarter of 2020, the business line grew 2.5% compared to the same period a year before.
At the end of the third quarter of 2020, Uniqa’s two insurers, UNIQA Asigurari and UNIQA Asigurari de Viata, reported a total number of 179 complaints, fewer than in the same period in 2019, per the latest data released by Romania’s Financial Supervisory Authority (ASF).
Austria’s Uniqa Group entered the Romanian market eleven years ago, by acquiring a 27% stake in then-bankrupt company Astra Asigurari.
Uniqa’s Romanian operations have been run since 2014 by Austrian Franz Weiller, who had previously worked for Uniqa in Serbia and Croatia.