Austrian insurance group Uniqa injected 45 million euros in Unita after takeover, and is now preparing a rebranding of the insurer. Uniqa's strategy, after buying Unita from the Vienna Insurance Group, is to significantly reduce the share of motor insurance in its portfolio and boost the share of health insurance, a segment where the Austrians are market leaders in their country of origin, as well as the share of SME and home insurance, according to Wolfgang Kindl, managing director of Uniqa International, who is in charge of the group's operations in Romania. "We have to significantly reduce the share of motor insurance in Unita's portfolio, it will probably fall to 65% from over 80% at present. We want to balance our portfolio by boosting the share of non-motor insurance, especially health insurance, where Uniqa is leader in Austria. Other segments targeted are insurance for SMEs and home insurance," Austrian-born Kindl told ZF in an interview. Reducing the share of motor insurance is important under the current market circumstances, when new car sales are declining fast, which affects comprehensive insurance.
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