Mercury takes stock and announces the end of a brand

May 31, 2022: Merkur Versicherung AG achieved 561.0 million euros in earned premiums last year. That’s a 3.7 percent increase. The benefit before taxes went from 4.5 to 6.3 million euros. The volume of premiums also increased in the Group as a whole and reached a value of 651.4 million euros. The “Nürnberger Versicherung Österreich” brand will cease production at the end of the year. Merkur had completed the acquisition of NVÖ in April.

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Merkur Versicherung AG was able to increase its volume of premiums earned by 3.7 percent to 561 million euros in 2021, thanks in particular to the development of health insurance. In its main division, it achieved growth of 4.76 percent to 468.4 million euros.

For property insurance, the company reports an increase of 0.55 percent to 21.4 million euros, for accident insurance a decrease of 0.77 percent to 28.9 million euros. Overall, property/damage fell slightly year over year from €50.4 million to €50.3 million.

The life insurance business was more moderate than in 2021: the volume of premiums fell by 2.89 percent to 42.3 million euros, “due to the difficult market environment and the zero interest rate policy that it will prevail in 2021,” Merkur said in a broadcast on Monday. .

Profit before taxes increased to 6.3 million

Insurance benefits (expenses for insurance claims) amounted to €401.3 million, compared to €377.4 million in 2020. The combined property/casualty ratio increased by 15.96 percentage points to 95.38 %.

There were increases both in the financial result, from 30.1 to 45.7 million euros, and in the profit before taxes (EGT), which went from 4.5 to 6.3 million euros.

Merkur Versicherung AG in 2021

identification number

2021

2020

Awards won

– of which health insurance

– of the same property/casualty insurance

– of which life insurance

561.0

468.4

50.3

42.3

541.1

447.1

50.4

43.5

Insured risks

– of which health insurance

– of the same property/casualty insurance

– of which life insurance

1,029,357

668,210

287,634

73,513

1,019,908

649,819

295,622

74,467

Insurance claim expenses

– of which health insurance

– of the same property/casualty insurance

– of which life insurance

401.3

282.9

34.2

84.2

377.4

271.8

28.2

77.3

financial results

45.7

30.1

result D. normally Business activity (EGT)

6.3

4.5

Investments (including index-linked funds and life insurance)

2,133.9

2,005.3

651.4 million euros in the entire group

Earned premiums for the entire Group, including international business, amounted to €651.4 million, an increase of 3.43 percent compared to 2020.

At the balance sheet date, the POA of the entire Group was €14.31 million (of which €14.08 million came from insurance companies). In 2020 it was €13.68 million, of which €13.52 million from insurance companies. The rest is pre-tax earnings from the banks.

The Nuremberg Austria brand will be launched this year

Merkur Annual Report 2021 (Cover; Source: Merkur)
Merkur Versicherung announced the
Monday your 2021 annual report
before (cover; source: Merkur)

The acquisition of Nürnberger Versicherung AG Austria, which was completed in April 2022 (VersicherungsJournal April 5, 2022), was formative for Merkur in 2021.

According to its annual report, Nürnberger Austria earned EUR 110.52 million in earned premiums in 2021 (-1.0 percent compared to 2020).

The Salzburg location will become “the life insurance hub within the Merkur Group” with the aim of “developing products and tailoring them to specific countries,” according to Merkur.

The life insurance business in Austria will be grouped under Merkur Lebensversicherung AG in future, the company explained. The “Nürnberger Versicherung Österreich” brand will be withdrawn from the market by the end of the year, with the target being October.

Discharge

The Merkur Annual Report 2021 can be downloaded from the company’s website as a PDF document.

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