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Insurance Day

Universa profit stays flat despite premium growth

Bonn - German mutual Universa yesterday said its 1998 profits stayed flat despite a jump in gross premium income from Dm673m to Dm724m. The company's net profit remained at Dm13m. Premium growth came mainly from health, which was up 13.7% to Dm426m, and from property and casualty, where a rise of 6.7% to Dm77m was noted. Universa Life, on the other hand, saw a drop of 2.7% to Dm221m. When releasing its results, Universa also said that it planned to make a comparatively large acquisition this year through its non-mutual interim holding Universa Beteiligungs-AG. However, it declined to be more specific.

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