Vienna  - Uniqa Group, Austria's largest insurance company, said Friday it increased net profits by 53.7 per cent to 269 million euros (420 million dollars) in 2007, boosted by strong growth in its Central and Eastern European (CEE) business.

The good performance was based on a 43.3-per-cent increase in operating profits to 378 million euros, the insurance group said. Results after minorities were up 62.7 per cent to 247 million euros.

Uniqa said it would suggest increasing dividends by 43 per cent to 50 cent per share and start a buy-back programme for almost 12 million shares.

Growth in the CEE region more than compensated for losses in Western Europe, mainly Italy. Consolidated premiums grew by 27.6 per cent to 816 million euros, compared with a 3.6-per-cent growth to 5.28 billion euros for the whole group.

In the first quarter of 2008 premiums increased by 14 per cent to 1.4 million euros and again the strongest growth was seen in the CEE region with 50 per cent. (dpa)