With a premium volume written (including savings portions from the unit-linked and index-linked life insurance) of € 6,325.1 million, the UNIQA Group is among the leading insurance groups in Central and Eastern Europe. The savings portion from the unit-linked and index-linked life insurance in the amount of € 485.4 million was set off against the change in insurance provision, pursuant to FAS 97 (US-GAAP). Without taking the savings portion from the unit-linked and index-linked life insurance into consideration, the premium volume written amounted to € 5,839.7 million.
UNIQA in Europe
UNIQA offers its products and services via all distribution channels (hired sales force, general agencies, brokers, banks and direct sales) and covers the entire range of insurance lines.
The listed holding company, UNIQA Insurance Group AG, manages the Group and also operates the indirect insurance business. In addition, it carries out numerous service functions for the Austrian and international insurance companies, in order to take best advantage of synergy effects and to consistently implement the Group’s long-term corporate strategy.
UNIQA International AG manages the international activities of the Group. This entity is also responsible for the ongoing monitoring and analysis of the international target markets and for acquisitions and post-merger integration.
Successful subordinated capital bond issue (Tier 2) by the UNIQA Group
In July 2015, UNIQA Insurance Group AG successfully placed a subordinated capital bond (Tier 2) to the value of € 500 million with institutional investors in Europe. The bond is scheduled for repayment after a period of 31 years and subject to certain conditions, and can only be cancelled by UNIQA after 11 years have elapsed and under certain conditions. The coupon amounts to 6.00 per cent per annum during the first 11 years, after which variable interest applies.
In 2015, the rating agency Standard & Poor’s confirmed the rating of UNIQA Insurance Group AG as “A–”. The ratings of UNIQA Österreich Versicherungen AG and the Group’s reinsurer, UNIQA Re AG in Switzerland, also remained “A”. UNIQA Versicherung AG in Liechtenstein received an “A–”. Standard & Poor’s rates the outlook for all the companies as stable. The rating of the UNIQA subordinated capital bond continues to be “BBB”.
Companies included in the IFRS consolidated financial statements
In addition to UNIQA Insurance Group AG, UNIQA’s 2015 consolidated financial statements also include 56 Austrian and 67 international companies. A total of 23 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, eight Austrian companies and one foreign company were valued according to the equity method as associates. Five associates were of minor importance.
Details on the consolidated companies and associates are contained in the corresponding overview in the consolidated financial statements. The accounting policies are also described in the consolidated financial statements.
UNIQA’s comprehensive risk report is included in the notes to the consolidated financial statements 2015.
Corporate Governance Report
Since 2004, UNIQA has pledged to comply with the Austrian Code of Corporate Governance and publishes the Corporate Governance Report at www.uniqagroup.com in the Investor Relations section.