39. Other disclosures

Group holding company

The parent company of UNIQA is UNIQA Insurance Group AG. 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 UNIQA. The group of companies also includes the non-consolidated subsidiaries, associates and joint ventures of UNIQA.

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 UNIQA, along with their close family members.

Related party transactions – companies

In € thousand

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2016

 

 

 

 

 

Premiums written (gross)

0

463

1,420

29,724

31,607

Interest income due to loans with companies that are related parties

0

79

0

252

331

Interest income and expenses arising from loans with entities that are related parties

0

0

0

–2,388

–2,388

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

1,371

0

9,511

4,105

14,987

Interest expenses arising from loans with banks that are related parties and from investments in entities that are related parties

–309

0

0

–20

–328

At 31 December 2016

 

 

 

 

 

Investments at fair value

155,653

10,166

532,129

57,202

755,150

Bank deposits

276,278

0

0

147,016

423,294

In € thousand

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2015

 

 

 

 

 

Premiums written (gross)

0

2,001

1,091

33,821

36,913

Interest income and expenses arising from loans with entities that are related parties

0

1,271

45

1,530

2,847

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

0

490

7,295

3,522

11,306

At 31 December 2015

 

 

 

 

 

Investments at fair value

135,848

11,820

445,464

133,323

726,455

Bank deposits

0

0

0

294,286

294,286

Related party transactions – individuals

In € thousand

1-12/2016

1-12/2015

1)

This item includes fixed and variable Management Board remuneration paid in the financial year and remuneration of the Supervisory Board.

Premiums written (gross)

1,861

1,066

Salaries and short term benefits1)

5,168

4,526

Pension expenses

407

819

Compensation on termination of employment contract

2,513

–324

Expenditures for share-based payments

2,495

1,941

Other income

203

236

In 2017, 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 € 1,739 thousand for the 2016 financial year.

Other financial obligations and contingent liabilities

In € thousand

31/12/2016

31/12/2015

Other contingent liabilities

 

 

Austria

0

13,262

other countries

0

273

Total

0

13,535

Ukraine (non-life) – option to purchase granted

The shares held by UNIQA in the UNIQA Insurance Company, Private Joint Stock Company (Kiev, Ukraine) were acquired in 2006 from the Ukraine-based Closed JSC Credo-Classic Insurance Company and have been gradually increased to the current level of 92.23 per cent. The existing option agreements with the two remaining minority shareholders were agreed again in 2015. This gives UNIQA the option of acquiring further shares in the company from the local minority shareholders based on previously agreed purchase price formulas in option windows in 2017 and 2020.

SIGAL Group – option to purchase granted

Shares held by UNIQA in the SIGAL UNIQA Group AUSTRIA sh.a. have likewise been gradually increased to the current level of 86.93 per cent. The existing option agreements with the two remaining minority shareholders were agreed again in 2016. This gives UNIQA the option of acquiring further shares in the company from the local minority shareholders based on previously agreed purchase price formulas in an option window between July 2017 and June 2020.

Lease expenses

In € thousand

1-12/2016

1-12/2015

Current lease expenses

3,018

3,664

 

 

 

Future leasing rates

 

 

up to 1 year

2,186

0

more than 1 year up to 5 years

4,363

0

more than 5 years

0

0

Total

6,549

0

Expenses for the auditor of the financial statements

The auditor fees in the financial year were € 1,567 thousand (2015: € 1,965 thousand); of which € 485 thousand (2015: € 307 thousand) is attributable to the annual audit, € 859 thousand (2015: € 1,590 thousand) to other auditing services and € 223 thousand (2015: € 68 thousand) to other general services.