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UNIQA Insurance Group AG: €127 million impairment of Russian bonds at 30 June 2022

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UNIQA Insurance Group AG / Key word(s): Half Year Results
UNIQA Insurance Group AG: €127 million impairment of Russian bonds at 30 June 2022

08-Jul-2022 / 10:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

€127 million impairment of Russian bonds at 30 June 2022

When preparing the closing for the first half of 2022, UNIQA Insurance Group AG (UNIQA) identified a potential need for impairment of Russian bonds in the amount of €127 million.

The impairment concerns Russian government and corporate bonds with an aggregate acquisition cost of €156 million that are denominated in euros, US dollars and Russian roubles and are held by UNIQA in Group companies outside Russia.

Notwithstanding this impairment, UNIQA expects to post earnings before taxes in the range of €145–165 million for the first half of 2022 based on otherwise good net investment income and solid performance in its core underwriting business (first half of 2021: €216 million). The final earnings before taxes will be published in the Half-Year Financial Report 2022 on 19 August.

08-Jul-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

Language:

English

Company:

UNIQA Insurance Group AG

Untere Donaustraße 21

1029 Vienna

Austria

Phone:

+43 1 211 75-0

E-mail:

investor.relations@uniqa.at

Internet:

www.uniqagroup.com

ISIN:

AT0000821103

WKN:

928900

Indices:

ATX

Listed:

Vienna Stock Exchange (Official Market)

EQS News ID:

1393567


 

End of Announcement

EQS News Service

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