UNIQA Versicherungen AG (WBAG:UQA) has announced first-quarter earnings from ordinary activities as €116.8 million, excluding a gain of €49.1 million from selling hotel assets. UNIQA plans to use the proceeds to fuel expansion in eastern Europe, where it is seeking acquisitions worth up to €150 million. "I can imagine that something will come up in the course of the next 18 months," Andreas Brandstetter, Chief Executive Officer of UNIQA, said.

UNIQA Versicherungen AG reported earnings results for the first quarter of 2013. The company increased the profit on ordinary activities (EBT) by 97% to €116.8 million, compared to €59.3 million for the last year. Adjusted for this effect, EBT has risen by 14.2% to €67.7 million. The consolidated profit (after taxes and minority interests) increased by 149.8% to €76 million, compared to €30.4 million for the last year. Premiums written - including the savings portion of unit- and index-linked life insurance - increased by 9.8% to €1,664.0 million, compared to €1,514.8 million for the last year. Net investment income increased by 13.1% to €226.0 million, compared to €199.8 million for the last year. The net profit amounted to €77.5 million, compared to €40.4 million for the last year. The adjusted return on equity (ROE) after taxes and minority interests decreased slightly from 12.7% to 11.1% in the 1st quarter of 2013 due to the roughly doubled underlying shareholders' equity.

UNIQA Versicherungen AG, Q1 2013 Earnings Call, May 17, 2013