Graz (OTS) –
- Double-digit plus for Merkur Group: With a group-wide premium volume of 851.1 million euros in 2023, the group is growing by 11.3 percent
- Stronger than the market: Merkur Versicherung AG’s earned premiums rose by 8.1 percent across all lines and amounted to 631.5 million euros
- Market share gained in the core division: In health insurance, Merkur Versicherung AG is growing by 9.6 percent and is expanding its lead as number two
- Oldest insurance company in Austria: In its 225th anniversary year, Merkur looks back on its development from a community association to a leading personal insurer
Merkur Versicherung is successfully closing the 2023 financial year with dynamic premium growth. Group-wide, the premiums earned increased by 11.3 percent to 851.1 million euros, and as of the balance sheet date there was a pre-tax profit (EGT) of 16.7 million euros. This means that the Graz Merkur Group exceeds the 850 million euro mark for the first time.
In addition to Austria, the Merkur Group is active in four other countries: These include Slovenia, Croatia, Serbia and Italy (South Tyrol). Solid growth to 108.9 million euros was achieved in the group countries mentioned. With a premium increase of 19.2 percent, Croatia achieved the largest increase. Merkur Lebensversicherung AG, based in Salzburg, is closing the 2023 financial year with good results, with the premium volume increasing to 114.5 million euros.
„Last year showed us what is possible when originality, pioneering spirit and team spirit come together. We are pleased about a year of strong growth and know that at the end of the day this dynamic, which is reflected in the numbers, is the strength from within that comes from the organization itself. This makes us very proud and our thanks go to all the employees and supporters who inspire people and make Merkur what it is: a reliable partner,” the Merkur board agrees.
Core market Austria
Merkur Versicherung AG can look back on a successful 2023 financial year in Austria. In total, the premium volume increased by 8.1 percent, with the premiums earned across all divisions amounting to 631.5 million euros. This means that Austria’s oldest insurance company, based in Graz, clearly exceeds the 600 million euro threshold.
More market share in the core division
With a focus on health insurance, Merkur Insurance achieved a premium increase of 9.6 percent. With 540.1 million euros in the core division, the company is further expanding its position as the second largest private health insurer in the country. Merkur Insurance is the only provider in the top 3 to gain market share and is targeting a market share of 20 percent.
The premium volume in property insurance increased overall by 4.2 percent to 22.8 million euros. This means a significantly higher growth rate than in the previous year. The same success in accident insurance: Here too, growth was 2 percent to 29.7 million euros. In the life insurance division, general restraint will also dampen growth in 2023: the earned premiums will fall by 3.7 percent to 38.9 million euros.
As of December 31, 2023, according to Solvency II, Merkur Versicherung AG reported a solvency capital requirement (SCR) of 367.7 million euros and eligible equity capital of 993 million euros. This means that the Graz traditional insurance company achieves an SCR coverage rate of 270.1 percent, which continues to increase compared to the previous year.
The original since 1798
Behind successful ideas and visions there are always people who are there at the right moment and who take that one, often decisive step and are therefore ahead of their time. In its 225th anniversary year, Merkur Versicherung, founded in Graz in 1798, looks back on a history that is characterized by originality and courage. Anniversaries help broaden your perspective. On what was, but above all on what is yet to become. This is how the pioneer of the insurance industry became one of the leading personal insurance companies in the country. This is how the pioneer in health care became an innovative company that not only relies on the existing and proven, but also looks to the future. This is how an association that initially had 58 members became a cross-border community force that passes on solidarity, security and stability to its customers and partners.
In 2023, the Merkur Group will employ an average of 1,637 people in five Central, Eastern and Southeast European countries.
Questions & Contact:
Mag. Jürgen Pock
Press spokesman for Merkur Group
Conrad-von-Hötzendorfstrasse 84
Merkur Campus | 8010 Graz
Mobil: +43 664 4500936
E-Mail: juergen.pock@merkur.at