UNIQA Group has released its business results for the first nine months of 2019 and announced the restructuring of the Group within its strategic program “UNIQA 3.0“, which will be presented in the mid-2020.
Having generated the earnings before tax of 214.7 million euros in the first 9 months of 2019, UNIQA Group has exceeded its result from the same period in the past year by 2.4%, when its earnings totaled 209.6 million euros.
The growth of earnings in 2019 was also followed by the growth of total premium, which after nine months of the current year totals 4.1 billion euros. Simultaneously, UNIQA Group’s investments, compared to the past year’s, have increased by about 2 billion euros and as at 30 September 2019 they amounted to 21.05 billion euros (31 December 2018: 19.34 billion euros). Without external associates and partners in sales, UNIQA Group numbers 12,750 employees for the first 9 months of 2019.
In the last year of the full implementation of UNQA 2.0 program, UNIQA continues to place emphasis on optimizing the existing business model and supplementing it with further investments in innovations relevant for the future of more than 10 million clients from 18 countries. The solid result in the first nine months of 2019 poses a solid basis for the year as a whole.
In times of challenging economic circ umstances and cut-throat competition, UNIQA Group’s aim is to increasingly focus on customer-centricity, on the faster and extra efficient service. Following such orientation, UNIQA has already begun to establish the structural requirements needed to implement its “UNIQA 3.0” strategy program.
To achieve this, the three largest companies – UNIQA Group and its two subsidiaries UNIQA Österreich Versicherungen AG and UNIQA International AG will be merged into one company – UNIQA Group. Such structural change is going to be followed by changes in the Management Board, which was already reduced from 22 to 11 members at the three companies in 2016, and after the restructuring it is going to be downsized to nine members.
The strong orientation of the Group towards clients as focal determinants has led to forming a new function within the Management Board that is now focused on “Clients and Markets”. Such functional separation enables monitoring and a fast response to requirements of private, commercial and corporate clients in Austria, internationally in other markets where the Group conducts business, including the field of bankassurance.