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UNIQUA reports 21% profit rise

Posted On: Dec. 1, 2006 12:00 AM CST

VIENNA, Austria— Austrian insurance company UNIQA Versicherungen A.G. posted a 21% increase in pretax profit, to €191.2 million, for the first ninemonths, due in part to a rise in premium volume from its foreign operations.

UNIQA's profits on ordinary activities through the third quarter are alreadyahead of the entire year of 2005, the company said.

Earnings in Austria have risen by 20.0%, to €139.6 million, while unitsin western and eastern Europe increased earnings by 24.4%, to €51.6 million.

After nine months, the UNIQA companies outside of Austria have contributed27% to earnings, the company said. Most of the company's premium growthcomes from its foreign life business, UNIQA said.

UNIQA Chief Executive Officer Konstantin Klien said the company has set atarget to increase profit to €430 million by 2010, up from an expectedfull-year pre-tax profit for this year of €230 million.