Subordinated liabilities

In July 2013, UNIQA Insurance Group AG successfully placed a supplementary capital bond in the volume of €350 million with institutional investors in Europe. The bond has a maturity period of 30 years and may only be cancelled after 10 years. The coupon equals 6.875 per cent per annum during the first ten years, after which a variable interest rate applies. The supplementary capital bond meets the requirements for equity netting as Tier 2 capital under the regime. The issue was also aimed at replacing older supplementary capital bonds from Austrian insurance groups and at bolstering UNIQA’s capital resources and capital structure in preparation for II and optimising these over the long term. The supplementary capital bond has been listed on the Luxembourg Stock Exchange since the end of July 2013. The issue price was set at 100 per cent.

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 eligible for netting as Tier 2 capital under . 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 eleven years have elapsed and under certain conditions. The coupon amounts to 6.00 per cent per annum during the first eleven years, after which a variable interest rate applies. The bond has been listed on the Vienna Stock Exchange since July 2015. The issue price was set at 100 per cent.

Carrying amounts

In € thousand

 

At 1 January 2017

869,115

Amortisation of transaction costs

316

Additions from accrued interests

22,991

Disposals from accrued interests

–23,073

At 31 December 2017

869,349

At 1 January 2018

869,349

Amortisation of transaction costs

335

Additions from accrued interests

23,139

Disposals from accrued interests

–22,991

At 31 December 2018

869,832

Maturity

In € thousand

2018
long term

2018
short term

2017
long term

2017
short term

Subordinated liabilities

846,693

23,139

846,358

22,991

Contractual maturities at 31 December 2018

In € thousand

Notional amount1)

Coupon payments

Total

1)

Contractual maturities based on the first possible termination date

2019

 

54,063

54,063

2020

 

54,063

54,063

2021

 

54,063

54,063

2022

 

54,063

54,063

2023

350,000

54,063

404,063

> 2024

500,000

90,000

590,000

Contractual maturities at 31 December 2017

In € thousand

Notional amount1)

Coupon payments

Total

1)

Contractual maturities based on the first possible termination date

2018

 

54,109

54,109

2019

 

54,109

54,109

2020

 

54,109

54,109

2021

 

54,109

54,109

2022

 

54,109

54,109

> 2023

850,000

144,850

994,850

Solvency II
European Union Directive on publication obligations and solvency rules for the equity base of an insurance company.
Solvency
An insurance company’s equity base.
Solvency II
European Union Directive on publication obligations and solvency rules for the equity base of an insurance company.