Remuneration of the Management Board and Supervisory Board


The members of the Management Board receive their remuneration exclusively from UNIQA Insurance Group AG, the Group holding company.

In € thousand

2015

2014

1)

The fixed salary components included remuneration in kind equivalent to € 86,661 (2014: € 85,463).

The expenses attributable to the financial year in question for the remuneration of the members of the Management Board amounted to:

 

 

Fixed remuneration1)

2,469

2,468

Variable remuneration

1,029

2,242

Current remuneration

3,498

4,710

Termination benefit entitlements

0

0

Total

3,498

4,710

of which proportionately recharged to operating subsidiaries:

2,157

2,173

Former members of the Management Board and their surviving dependants received:

2,751

2,706

The breakdown of the total Management Board remuneration among the individual members of the Management Board was as follows:

Name of Mgt. Board member

Fixed remuneration

Variable remuneration (STI)1)

Multi-year share-based remuneration (LTI)2)

Total current remuneration

Termination benefit entitlements

Total for
the year

In € thousand

1)

The Short-Term Incentive (STI) includes the variable remuneration for the 2014 financial year, paid out in 2015.

2)

The Long-Term Incentive (LTI) corresponds with a share-based remuneration agreement that was introduced in 2013 for the first time, with the beneficiary entitled to receive a cash settlement following a 4-year term. Details can be found in the Notes to the Consolidated Financial Statements.

Andreas Brandstetter

609

250

0

859

0

859

Hannes Bogner

459

195

0

653

0

653

Wolfgang Kindl

459

190

0

649

0

649

Thomas Münkel

485

204

0

689

0

689

Kurt Svoboda

458

190

0

648

0

648

Total 2015

2,469

1,029

0

3,498

0

3,498

Total 2014

2,468

2,242

0

4,710

0

4,710

In 2016, it is expected that the members of the Management Board of the UNIQA Insurance Group AG will be paid a variable remuneration (STI) in the amount of €1.9 million for the 2015 financial year.

In addition to the remuneration listed above, the following pension fund contributions were paid in the financial year for the existing pension commitments to the members of the Management Board. The compensation payments arise if a member of the Management Board steps down before the age of 65 because pension entitlements are generally funded in full until the age of 65.

Pensions Funds Contributions

Regular
contributions

Compensation
payments

Total for
the year

In € thousand

Andreas Brandstetter

84

0

84

Hannes Bogner

128

0

128

Wolfgang Kindl

119

0

119

Thomas Münkel

245

0

245

Kurt Svoboda

105

0

105

Total 2015

681

0

681

Total 2014

681

0

681

The remuneration paid to the members of the Supervisory Board for their work in the 2014 financial year was €443,750. Provisions of €425,000 have been set aside for the remuneration to be paid for this work in 2015. A total of €49,100 was paid out in 2015 to cover attendance fees and out-of-pocket expenses (2014: €32,700).

In € thousand

2015

2014

Current financial year (provision)

425

444

Attendance fees

49

33

Total

474

476

The breakdown of the total remuneration (including attendance fees) paid to the individual members of the Supervisory Board was as follows:

Name of Supervisory Board member

Remuneration
2015

Remuneration
2014

In € thousand

Walter Rothensteiner

74

72

Christian Kuhn

65

61

Georg Winckler

0

24

Erwin Hameseder

65

62

Eduard Lechner

65

53

Günther Reibersdorfer

0

22

Ewald Wetscherek

0

20

Markus Andréewitch

33

20

Ernst Burger

37

35

Peter Gauper

39

35

Johannes Schuster

37

35

Kory Sorenson

43

27

Payments to employee representatives

17

12

Total

474

476

Former members of the Supervisory Board did not receive any remuneration.

The disclosures in accordance with Section 239(1) of the Austrian Commercial Code in conjunction with Section 80b of the Austrian Insurance Supervisory Act, which must be included as mandatory disclosures in the notes to the financial statements for IFRS financial statements to release the Company from the requirement to prepare financial statements in accordance with the Austrian Commercial Code, are defined more broadly for the separate financial statements in accordance with the provisions of the Austrian Commercial Code. The separate financial statements include not only the remuneration for the decision-making functions (Management Board) of UNIQA Insurance Group AG, but also the remuneration paid to the Management Boards of the subsidiaries if such remuneration is based on a contract with UNIQA Insurance Group AG.

© UNIQA Group 2016