Consolidated Balance Sheet

as at 31 December 2010


Assets

Notes

31 Dec. 2010
€ 000

31 Dec. 2009
€ 000

1 Jan. 2009
€ 000

A.

Tangible assets

 

 

 

 

 

I.

Self-used land and buildings

1

268,563

230,077

220,565

 

II.

Other tangible assets

2

138,657

132,447

113,412

 

 

 

 

407,220

362,524

333,977

B.

Land and buildings held as financial investments

3

1,465,297

1,433,091

1,147,634

C.

Intangible assets

 

 

 

 

 

I.

Deferred acquisition costs

4

885,646

877,394

872,003

 

II.

Goodwill

5

592,402

607,191

500,969

 

III.

Other intangible assets

6

31,400

31,875

34,424

 

 

 

 

1,509,448

1,516,459

1,407,396

D.

Shares in associated companies

7

546,444

717,163

851,382

E.

Investments

 

 

 

 

 

I.

Variable-yield securities

 

 

 

 

 

 

1. Available for sale

9

1,751,520

1,321,142

1,397,749

 

 

2. At fair value through profit or loss

 

694,424

706,219

948,998

 

 

 

 

2,445,944

2,027,361

2,346,747

 

II.

Fixed interest securities

 

 

 

 

 

 

1. Held to maturity

8

340,000

340,000

448,957

 

 

2. Available for sale

9

11,198,539

9,879,620

8,605,679

 

 

3. At fair value through profit or loss

 

317,383

246,936

271,468

 

 

 

 

11,855,922

10,466,556

9,326,105

 

III.

Loans and other investments

 

 

 

 

 

 

1. Loans

11

2,442,231

2,943,107

3,201,817

 

 

2. Cash at credit institutions

12

863,652

1,201,925

1,457,298

 

 

3. Deposits with ceding companies

12

136,794

136,149

129,405

 

 

 

 

3,442,677

4,281,180

4,788,519

 

IV.

Derivative financial instruments

 

 

 

 

 

 

1. Variable-yield

10

6,239

3,606

15,898

 

 

2. Fixed interest

10

22,013

8,252

3,179

 

 

 

 

28,252

11,858

19,077

 

 

 

 

17,772,793

16,786,955

16,480,448

F.

Investments held on account and at risk of life insurance policyholders

24

4,192,730

3,473,553

2,642,462

G.

Share of reinsurance in technical provisions

 

 

 

 

 

I.

Provision for unearned premiums

19

20,755

20,341

26,853

 

II.

Actuarial provision

20

448,708

448,599

431,387

 

III.

Provision for outstanding claims

21

239,975

293,762

265,344

 

IV.

Provision for profit-unrelated premium refunds

22

33

99

225

 

V.

Provision for profit-related premium refunds, i.e. policyholder profit sharing

22

0

0

0

 

VI.

Other technical provisions

 

3,005

3,649

5,529

 

 

 

23

712,476

766,450

729,338

H.

Share of reinsurance in technical provisions held on account and at risk of life insurance policyholders

24

396,542

382,338

382,480

I.

Receivables including receivables under insurance business

13

 

 

 

 

I.

Reinsurance receivables

 

39,741

52,558

46,766

 

II.

Other receivables

 

912,855

916,653

835,119

 

III.

Other assets

 

54,819

50,690

50,432

 

 

 

 

1,007,415

1,019,902

932,317

J.

Receivables from income tax

14

46,111

40,348

54,077

K.

Deferred tax assets

15

105,821

96,295

69,096

L.

Liquid funds

 

532,903

797,658

567,853

Total assets

 

28,695,200

27,392,735

25,598,461

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity and Liabilities

Notes

31 Dec. 2010
€ 000

31 Dec. 2009
€ 000

1 Jan. 2009
€ 000

A.

Total equity

 

 

 

 

 

I.

Shareholders' equity

16

 

 

 

 

 

1. Subscribed capital and capital reserves

 

540,681

540,681

390,681

 

 

2. Revenue reserves

 

731,217

724,523

809,227

 

 

3. Revaluation reserves

 

–15,639

10,600

11,570

 

 

4. Actuarial gains and losses on defined benefit plans

 

–22,287

7,057

18,660

 

 

5. Group total profit

 

57,617

50,201

34,577

 

 

 

 

1,291,589

1,333,063

1,264,714

 

II.

Minority interests in shareholders' equity

17

245,051

231,720

194,062

 

 

 

 

1,536,641

1,564,782

1,458,776

B.

Subordinated liabilities

18

575,000

575,000

580,544

C.

Technical provisions

 

 

 

 

 

I.

Provision for unearned premiums

19

594,822

552,569

521,637

 

II.

Actuarial provision

20

16,479,742

16,055,368

15,601,625

 

III.

Provision for outstanding claims

21

2,392,372

2,299,943

2,175,342

 

IV.

Provision for profit-unrelated premium refunds

22

49,472

47,588

46,135

 

V.

Provision for profit-related premium refunds, i.e. policyholder profit sharing

22

164,695

196,565

–5,229

 

VI.

Other technical provisions

 

47,392

47,677

49,452

 

 

 

23

19,728,494

19,199,710

18,388,962

D.

Technical provisions for life insurance policies held on account and at risk of life insurance policyholders

24

4,142,636

3,416,231

2,579,997

E.

Financial liabilities

 

 

 

 

 

I.

Liabilities from loans

25

48,505

55,356

189,053

 

II.

Derivatives

10

3,663

26,939

7,087

 

 

 

 

52,168

82,295

196,140

F.

Other provisions

 

 

 

 

 

I.

Pensions and similar provisions

26

524,376

466,837

436,478

 

II.

Other provisions

27

201,149

192,327

207,919

 

 

 

 

725,526

659,164

644,397

G.

Payables and other liabilities

28

 

 

 

 

I.

Reinsurance liabilities

 

889,550

872,587

869,258

 

II.

Other payables

 

660,339

650,881

567,129

 

III.

Other liabilities

 

14,662

10,854

11,122

 

 

 

 

1,564,551

1,534,321

1,447,509

H.

Liabilities from income tax

29

56,170

48,732

57,294

I.

Deferred tax liabilities

30

314,014

312,499

244,841

Total equity and liabilities

 

28,695,200

27,392,735

25,598,461

To increase transparency in the reporting process, the UNIQA Group has decided to exercise the right stipulated in IAS 19.93A ff concerning balancing the accounts of pension and severance payment provisions, and to implement this change as of 31 December 2010. From now on, the amount of the actuarial gains and losses will therefore be reported as shareholders’ equity, after deducting deferred taxes and deferred profit participation, without affecting income. In accordance with IAS 8, the amounts of the previous year have been adjusted to reflect this.

 

 

 

2009
after change
€ 000

2009
before change
€ 000

2009
change
€ 000

Consolidated Balance Sheet

 

 

 

I.

Shareholders' equity

 

 

 

 

4.

Actuarial gains and losses on defined benefit plans

7,057

0

7,057

 

5.

Group total profit

50,201

57,258

–7,057

Consolidated Income Statement

 

 

 

5.

Net investment income

751,656

751,603

53

7.

Insurance benefits

–4,056,446

–4,054,442

–2,004

 

a)

Gross

–4,284,398

–4,282,394

–2,004

8.

Operating expenses

–1,267,206

–1,283,750

16,544

 

b)

Other operating expenses

–412,852

–429,396

16,544

9.

Other expenses

–119,947

–123,052

3,105

11.

Operating profit

135,118

117,420

17,698

15.

Profit on ordinary activities

100,026

82,328

17,698

16.

Income taxes

–44,362

–39,596

–4,766

17.

Net profit

55,664

42,732

12,932

 

of which consolidated profit

25,672

14,115

11,557

 

of which minority interests

29,993

28,618

1,375

Earnings per share

0.19

0.11

0.08

The following parts of the Group report are, in accordance with IAS 8, affected by the change in the balancing of the accounts of defined benefit plans: the consolidated balance sheet, consolidated income statement, comprehensive income statement, Group cash flow statement, development of equity, segment reports, earnings per share and the details in the notes.

 

2009
after change
€ 000

2009
before change
€ 000

2009
change
€ 000

Classified by region

 

 

 

Net investment income

 

 

 

Austria

617,996

617,943

53

In the consolidated financial statements

751,656

751,603

53

Insurance benefits (net)

 

 

 

Austria

–2,738,835

–2,736,831

–2,004

In the consolidated financial statements

–4,056,446

–4,054,442

–2,004

Operating expenses

 

 

 

Austria

–735,700

–749,534

13,834

Germany

–134,293

–137,003

2,710

In the consolidated financial statements

–1,267,206

–1,283,750

16,544

Profit on ordinary activities

 

 

 

Austria

86,143

74,115

12,028

Germany

15,217

9,547

5,670

In the consolidated financial statements

100,026

82,328

17,698

© 2011 BY UNIQA GROUP AUSTRIA