Czech Republic: Insurer UNIQA Reports Lower Profit in 2006

Czech insurance company UNIQA saw its net profit decrease by 27 per cent year-on-year to CZK 139 million in 2006, director Marek Venuta told the journalists.

According to him, the local insurance market added 3.75 per cent in 2006.

The companys billed premiums surged 10 per cent to CZK 3.15 billion, he said.

The life insurance contracts of the company added the most - 30 per cent - to CZK 845 million.

Billed premiums in non-life insurance grew by four per cent to CZK 2.3 billion.

The overall number of insurance contracts added 14 per cent on the year to 357,000, he said.

Austrias leading insurer UNIQA controls 83.33 per cent of the companys shares, while the rest are in the hands of the European Bank for Reconstruction and Development.