October 19, 2018 / 11:09 AM / a month ago

Austrian insurer Uniqa ready to spend 1 bln eur for acquisitions

VIENNA, Oct 19 (Reuters) - Austrian insurer Uniqa plans to grow via acquisitions and is ready to spend up to 1 billion euros ($1.15 billion), its chief executive said on Friday.

“We can certainly imagine acquisitions of up to 1 billion euros,” Andreas Brandstetter said at an investors fair in Vienna.

However, he currently sees only few suitable opportunities and what is available is extremely expensive, he said.

($1 = 0.8724 euros)

Reporting by Kirsti Knolle; editing by Thomas Seythal

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