Wüstenrot insurance: 2021 more premiums, less EGT

June 24, 2022 – Wüstenrot Versicherung reports more premium income than in 2020, at the same time more expenses for insurance benefits, but also an advantage in the financial result for 2021. Profit before tax was 44.9 million euros, after 47.9 million euros in the previous year.

Wüstenrot headquarters in Salzburg (Image: Wüstenrot)
Wüstenrot headquarters in Salzburg (Image: Wüstenrot)

Wüstenrot Versicherungs-AG closed the 2021 financial year with an increase in premiums, as can be seen in the annual report published on Thursday.

In life insurance, growth of 5.2 percent to EUR 254.35 million was achieved in direct business.

This is due to single premiums, the volume of which doubled. Recurring premiums fell 4.2 percent.

Property/casualty business posted growth of 1.1 percent to EUR 197.41 million, while health insurance remained at the previous year’s level at EUR 5.43 million.

Wüstenrot insurance: premiums collected (total bill)

divisions

2021

+/- vs. 2020

life, direct business

254,349

+5.2%

– of the same single premiums

– current bonds of the same

41,900

212,449

+108.5%

-4.2%

– of which endowment insurance

– of which risk insurance

– of which V linked to units and indices.

– of which pension insurance

176,567

13,640

41,549

22,593

+6.0%

+1.8%

-23%

+16.5%

life, indirect business

438

-2.4%

life, whole

254,787

+5.2%

Damage-accidents, direct business

property-casualty, indirect business

197,406

226

+1.1%

-3.0%

Property-loss, total

197,632

+1.1%

sick direct business

5,427

+/-0.0%

reduced inventory

The life insurance portfolio fell 5.8 percent to 334,631 (single premiums: 39,237, -4.8 percent; ordinary premiums: 295,394, -6.0 percent).

There was also a drop in property/casualty insurance, down 0.9 percent to 937,210, as well as health insurance (35,444, -1.9 percent).

more expenses

Insurance claims expenses (total account including change in actuarial reserve) rose in life insurance by around a third (+32.1 percent) to €322.91 million.

Of this, EUR 183.22 million (+218.4 percent) were attributable to single premiums, EUR 139.69 million to contracts with regular premiums (–25.3 percent).

In Damage/Accidents, expenses for insurance claims increased by 28.1 percent to 139.62 million euros, and in health insurance by 4.0 percent to 2.62 million euros.

Plus in the financial result

“With a return of 3.2 percent, the financial result also exceeded the previous year’s figure of 2.7 percent,” says CEO Gerald Hasler.

In view of the market environment, it is “an essential factor for the economic success of the company”.

44.9 million euros of profit before taxes

The profit before taxes, result of ordinary activities (EGT), amounted to 44.91 million euros. In the previous year it had risen to 47.94 million euros.

“A very good result was achieved despite the pandemic environment,” Hasler said.

Wüstenrot insurance: EGT and benefit

divisions

2021

2020

Total EGTs

– of which life insurance

– of the same property/casualty insurance

– of which health insurance

44,908

24,314

18,181

2,414

47,939

15,965

29,282

2,692

net income

32,819

38,843

annual earnings

10,232

7,732

retained earnings

10,232

17,732

Discharge

The annual report of Wüstenrot Versicherungs-AG can be downloaded from the company website as a PDF document.

.

Leave your vote

Leave a Comment

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.