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 in the UNIQA Group maintain various relationships with related companies and persons.

In accordance with IAS 24, related companies are identified as those companies which either exercise a controlling or crucial influence on the UNIQA Group. The group of companies also includes the non-consolidated subsidiaries, associates and joint ventures of the UNIQA Group.

The related individuals include the members of management holding key positions for the purposes of IAS 24 along with their close family members. This also includes in particular the members of management in key positions at those companies which either exercise a controlling or crucial influence on the UNIQA Group, along with their close family members.

Related party transactions – companies

 

Companies with significant influence on the UNIQA Group

Unconsoli­dated subsidiaries

Associates of the UNIQA Group

Other companies

Total

Transactions 2014

 

 

 

 

 

Premiums written (gross)

318

1,592

812

58,659

61,381

Interest income and expenses from loans with companies that are related parties

0

1,400

0

1,546

2,946

Interest income and expenses from loans with banks that are related parties and from investments in companies that are related parties

374

4,366

10,110

30,874

45,724

At 31/12/2014

 

 

 

 

 

Investments at fair value

138,935

198,305

519,123

385,211

1,241,574

Bank deposits

0

417,723

261

358,177

776,161

 

Companies with significant influence on the UNIQA Group

Unconsoli­dated subsidiaries

Associates of the UNIQA Group

Other companies

Total

Transactions 2013

 

 

 

 

 

Premiums written (gross)

0

1,642

1,258

115,243

118,143

Interest income and expenses from loans with companies that are related parties

572

185

0

602

1,359

Interest income and expenses from loans with banks that are related parties and from investments in companies that are related parties

374

728

5,358

44,730

51,189

At 31/12/2013

 

 

 

 

 

Investments at fair value

168,989

16,507

535,039

882,640

1,445,370

Bank deposits

32

1,099

2,207

1,103,302

1,106,640

Related party transactions – individuals

in € thousand

2014

2013

1)

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

Premiums written (gross)

824

837

Salaries and short-term benefits due in the short term1)

3,725

5,108

Pension expenses

857

1,571

Post-employment benefits

45

1,424

Share-based payments

89

226

Other income

251

300

Other financial obligations and contingent liabilities

in € thousand

31/12/2014

31/12/2013

Contingent liabilities from litigation risks

24,189

19,720

Austria

0

0

Outside of Austria

24,189

19,720

Other contingent liabilities

12,125

10,830

Austria

12,125

10,570

Outside of Austria

0

261

Total

36,313

30,550

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 entered into which obligate UNIQA Internationale Beteiligungs-Verwaltungs GmbH to purchase share packages of the local non-controlling shareholders through option agreements on the basis of a predefined purchase price formula. It was initially agreed to exercise the option in the second quarter of 2012, and this was postponed to the 2016 financial year as part of an amendment of the transaction contracts in 2011. In the 2013 financial year, these non-controlling interests were reclassified as equity within the scope of an adjustment for the previous year in accordance with IAS 8 and were stated as other Liabilities with rectification of the proportionate goodwill. The liability amounts to €4,844 thousand, unchanged from the previous year.

Lease expenses

in € thousand

2014

2013

Current lease expenses

7,826

6,825

 

 

 

Future lease payments in connection with the financing of the UNIQA Group headquarters in Vienna

 

 

up to 1 year

5,102

5,090

more than 1 year up to 5 years

17,859

20,360

more than 5 years

0

2,545

Total

22,961

27,996

Income from subleases

550

692

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 interest rate.

Expenses for the auditor of the financial statements

The auditor fees in the financial year were €1,100 thousand (2013: €4,423 thousand); of which €280 thousand (2013: €223 thousand) is attributable to the annual audit, €652 thousand (2013: €4,110 thousand) to other auditing services and €168 thousand (2013: €90 thousand) to other services.

© UNIQA Group 2015