€5,825 million in premiums written

With €5,825 million in premiums written, including the savings portion of unit- and index-linked life insurance, UNIQA is one of the leading insurance groups in Central and Eastern Europe. The savings portion of premiums from unit- and index-linked life insurance amounting to €823 million is, in accordance with FAS 97 (US-GAAP), balanced out by the changes in the actuarial provision. Premium volume excluding the savings portion from the unit- and index-linked life insurance amounts to €5,002 million.

UNIQA in Europe

The UNIQA Group offers its products and services through all distribution channels (salaried sales force, general agencies, brokers, banks and direct sales). UNIQA is active in all types of insurance and operates its direct insurance business in Austria through UNIQA Personenversicherung AG, UNIQA Sachversicherung AG, Raiffeisen Versicherung AG, FINANCE LIFE Lebensversicherung AG, Salzburger Landes-Versicherung AG and CALL DIRECT Versicherung AG.

The listed Group holding company, UNIQA Versicherungen AG, is responsible for Group management, operates the indirect insurance business and is the central reinsurer for the Group’s Austrian operational companies. In addition, it carries out numerous service functions for the Austrian and international insurance subsidiaries in order to take best advantage of synergy effects within all the Group companies and to consistently implement the Group’s long-term corporate strategy. UNIQA Re AG has its headquarters in Zurich and is responsible for reinsuring the Group’s international operational companies. In order to achieve maximum synergy effects, the international activities of the UNIQA Group are managed centrally through Competence Centers as well as the Group’s Central Services, and UNIQA International Versicherungs-Holding GmbH is responsible for ongoing monitoring and analysis of the international target markets for acquisitions as well as for integration of acquisitions into the Group.

Takeover of the Romanian UNITA

At the start of November 2008, the UNIQA Group took over 100% of the share capital of the Romanian property insurer UNITA – one of the largest insurance companies in Romania with a market share of roughly 7%. With this acquisition, UNIQA has taken another important step in its expansion into Eastern Europe since Romania with its roughly 22 million residents is currently one of the largest and fastest-growing markets of the CEE region. Special focus will naturally be given in the future to close cooperation with the local Raiffeisen bank within the framework of the cooperation throughout the entire geographic region.

Companies included in the IFRS consolidated financial statements

Along with UNIQA Versicherungen AG, the 2008 consolidated financial statements of the UNIQA Group include 38 domestic and 77 foreign companies. A total of 38 affiliated companies whose influence on an accurate presentation of the actual financial status of the assets, financial position and profitability was insignificant were not included in the consolidated financial statements. In addition, 15 domestic and two foreign companies were included as associates according to the equity accounting method. Ten associates were of minor importance, and their shares are recognised at market value.

SIGAL Holding sH.A. in Albania was valued “at equity” for the first time in the 1st quarter of 2008. As of 31 March, the scope of consolidation was expanded to include the Ukrainian company Credo-Classic. The results of this company were fully consolidated as of the 2nd quarter. In the 4th quarter of 2008, the scope of consolidation was expanded to include UNITA Vienna Insurance Group S.A., AGRAS Vienna Insurance Group S.A. and UNIQA Asigurari de Viata S.A. in Romania as well as UNIQA Health Insurance AD in Bulgaria.

Details on the consolidated and associated companies are contained in the corresponding overview in the Group notes. The accounting and valuation methods used as well as the changes in the scope of consolidation are also explained in the Group notes.

Risk report

The comprehensive risk report of the UNIQA Group is in the 2008 Group notes (cf. Group notes).

UNIQA Group business development

The following comments on the business development are divided into two sections. The section “Group business development” describes the business performance from the perspective of the Group with fully consolidated amounts. Fully consolidated amounts are also used in the Group management report for reporting on the development of the business segments of “property and casualty insurance”, “health insurance” and “life insurance”.