Group holding company


The parent company of the UNIQA Group is UNIQA Insurance Group AG. This company is registered in the company registry of the Commercial Court of Vienna under FN 92933t. In addition to its duties as Group holding company, this company also performs the duties of a Group reinsurer.

Related companies and persons

Companies of the UNIQA Group enter into various transactions with related companies and persons.

In line with IAS 24, related companies are identified as those companies, which exercise either a controlling or significant influence on the UNIQA Group. Related parties also include non-consolidated subsidiaries, associates and joint ventures of the UNIQA Group.

Related parties also include persons in key management positions in line with IAS 24, as well as close family members. In particular, this includes key management personnel and their family members as well as family members of those companies which exercise either a controlling or significant influence on the UNIQA Group.

Transactions with related companies

 

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2013

 

 

 

 

 

Gross premiums written

0

1,642

1,258

115,243

118,143

Interest income/expenses due to loans given by UNIQA Group

572

185

0

602

1,359

Interest income/expenses due to loans given by a bank as a related party (e.g. loans, time deposits, giro) and capital investments (e.g. subscription of bonds) in a related party

374

728

5,358

44,730

51,189

As at 31.12.2013

 

 

 

 

 

Investments at market value

11,185

16,507

535,039

882,640

1,445,370

Deposits with credit institutions

32

1,099

2,207

1,103,302

1,106,640

Transactions 2012

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2012

 

 

 

 

 

Gross premiums written

8

1,104

1,258

99,927

102,297

Interest income/expenses due to loans given by UNIQA Group

504

56

0

618

1,177

Interest income/expenses due to loans given by a bank as a related party (e.g. loans, time deposits, giro) and capital investments (e.g. subscription of bonds) in a related party

1,096

809

11,836

44,217

57,957

As at 31.12.2012

 

 

 

 

 

Investments at market value

22,159

12,851

396,954

890,078

1,322,042

Deposits with credit institutions

14

6,259

3,484

1,139,123

1,148,880

Transactions with related persons

Figures in € thousand

2013

2012

1)

This item includes fixed and variable Management Board remuneration and Supervisory Board remuneration.

Gross premiums written

837

713

Remuneration and short term benefits1)

5,108

5,699

Expenses for employee pensions

1,571

3,016

Compensation on termination of employment contract

1,424

1,415

Share-based compensation

226

0

Other income

300

293

Other financial commitments and contingent liabilities

Figures in € thousand

31.12.2013

31.12.2012

Contingent liabilities from risks of litigation

19,720

14,700

Austria

0

0

Foreign

19,720

14,700

Other contingent liabilities

10,830

9,254

Austria

10,570

9,040

Foreign

261

214

Total

30,550

23,954

The companies of the UNIQA Group are involved in court proceedings in Austria and other countries in connection with their ordinary business operations as insurance companies. The result of the pending or threatened proceedings is often impossible to determine or predict.

In consideration of the provisions set aside for these proceedings, the management is of the opinion that these proceedings have no significant effects on the financial situation and the operating earnings of the UNIQA Group.

Ukraine (Non-Life) - Option to purchase granted

During the incorporation of portions of the Ukrainian company “Closed JSC Credo-Classic Insurance Company” (now “Private JSC UNIQA”), agreements were concluded, which obligate UI-BV to purchase share packages of the local minority shareholders through option agreements on the basis of a predefined purchase price formula. It was initially agreed to exercise the option in the 2nd quarter of 2012, and this was postponed to the financial year 2016 during an amendment of the transaction contracts in 2011. In financial year 2013, this minority interest was reclassified in the context of a previous-year correction in line with IAS 8. What was pro rata goodwill was posted under other liabilities.

Figures in € thousand

2013

2012

Current leasing expenses

6,825

7,257

 

 

 

Future leasing payments due to the financing of the UNIQA Headquarters in Vienna

 

 

Up to 1 year

5,090

5,188

More than 1 year up to 5 years

20,360

20,754

More than 5 years

2,545

7,783

Total

27,996

33,725

Income from subleasing

692

537

We moved into the UNIQA Group headquarters - the UNIQA Tower - in 2004. The aforementioned leasing obligations are based on the investment expenditures in connection with a specific calculatory rate of interest yield.

The auditor fees in this financial year were € 4,423 thousand (2012: € 2,988 thousand). Of these, € 223 thousand (2012: € 274 thousand) were for the audit, € 0 (€ 655 thousand) were for tax advice, € 4,110 thousand (2012: € 1,757 thousand) were for other certification services and € 90 thousand (2012: € 302 thousand) were for other services.

© UNIQA Group 2014