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VIENNA, Austria UNIQA Group Austria reported a 40.4% increase in its first quarter pretax profit on Thursday, with the most premium growth seen in Eastern European markets, the company said.
For the first three months of 2007, pretax profits were €63.2 million ($84.8 million), UNIQA announced.
UNIQA also said it had reduced its claim and loss ratios, despite the damages from Windstorm Kyrill in January, by 15.8% to €896.1 million ($1.20 billion).
Eastern Europe markets had a premium increase of 15.8% to €187.8 million ($252.5 million), the insurer said.