UNIQA Group Report 2011 - Consolidated Balance Sheet

Assets			Notes	31 Dec. 2011	31 Dec. 2010	1 Jan. 2010
Figures in € thousand			Notes
A.	Tangible assets
	I.	Self-used land and buildings	1	252,288	268,563	230,077
	II.	Other tangible assets	2	131,261	138,657	132,447
				383,549	407,220	362,524
B.	Land and buildings held as financial investments		3	1,566,958	1,465,297	1,433,091
C.	Intangible assets
	I.	Deferred acquisition costs	4	899,732	891,131	883,851
	II.	Goodwill	5	570,048	599,643	614,431
	III.	Other intangible assets	6	30,551	31,103	31,577
				1,500,331	1,521,877	1,529,860
D.	Shares in associated companies		7	530,485	546,444	717,163
E.	Investments
	I.	Variable-yield securities
		1. Available for sale	9	1,636,133	1,751,520	1,321,142
		2. At fair value through profit or loss		549,296	694,424	706,219
				2,185,429	2,445,944	2,027,361
	II.	Fixed interest securities
		1. Held to maturity	8	0	340,000	340,000
		2. Available for sale	9	11,215,448	11,198,539	9,879,620
		3. At fair value through profit or loss		389,645	317,335	246,888
				11,605,094	11,855,874	10,466,508
	III.	Loans and other investments
		1. Loans	11	2,189,439	2,442,231	2,943,107
		2. Cash at credit institutions/cash at banks	12	1,023,133	863,652	1,201,925
		3. Deposits with ceding companies	12	140,657	136,794	136,149
				3,353,229	3,442,677	4,281,180
	IV.	Derivative financial instruments
		1. Variable-yield	10	4,160	6,239	3,606
		2. Fixed interest	10	24,338	22,013	8,252
				28,498	28,252	11,858
				17,172,249	17,772,746	16,786,907
F.	Investments held on account and at risk of life insurance policyholders		24	4,396,016	4,192,730	3,473,553
G.	Share of reinsurance in technical provisions
	I.	Provision for unearned premiums	19	18,542	22,238	20,341
	II.	Actuarial provision	20	455,835	448,708	448,599
	III.	Provision for outstanding claims	21	207,271	239,975	293,762
	IV.	Provision for profit-unrelated premium refunds	22	4	33	99
	V.	Provision for profit-related premium refunds, i.e. policyholder profit sharing	22	0	0	0
	VI.	Other technical provisions		2,494	3,005	3,649
			23	684,146	713,959	766,450
H.	Share of reinsurance in technical provisions held on account and at risk of life insurance policyholders		24	405,513	396,542	382,338
I.	Receivables including receivables under insurance business		13
	I.	Reinsurance receivables		58,825	39,741	52,558
	II.	Other receivables		870,767	909,924	913,601
	III.	Other assets		58,404	54,819	50,690
				987,996	1,004,484	1,016,850
J.	Receivables from income tax		14	51,156	46,111	40,348
K.	Deferred tax assets		15	206,166	103,401	93,875
L.	Liquid funds			683,094	532,903	797,658
Total assets				28,567,658	28,703,713	27,400,616

Equity and liabilities			Notes	31 Dec. 2011	31 Dec. 2010	1 Jan. 2010
Figures in € thousand			Notes
A.	Total equity
	I.	Shareholders' equity	16
		1. Subscribed capital and capital reserves		540,681	540,681	540,681
		2. Revenue reserves		414,397	718,219	715,429
		3. Revaluation reserves		–44,663	–2,511	23,781
		4. Actuarial gains and losses on defined benefit plans		–36,147	–22,287	7,057
		5. Group total profit/loss		1,608	43,053	35,901
				875,876	1,277,155	1,322,849
	II.	Minority interests in shareholders' equity	17	219,708	244,299	230,993
				1,095,584	1,521,454	1,553,842
B.	Subordinated liabilities		18	575,000	575,000	575,000
C.	Technical provisions
	I.	Provision for unearned premiums	19	616,034	598,646	552,685
	II.	Actuarial provision	20	16,706,249	16,479,906	16,055,368
	III.	Provision for outstanding claims	21	2,456,528	2,392,514	2,300,085
	IV.	Provision for profit-unrelated premium refunds	22	51,533	49,472	47,588
	V.	Provision for profit-related premium refunds, i.e. policyholder profit sharing	22	7,786	169,912	201,653
	VI.	Other technical provisions		49,982	47,472	47,705
			23	19,888,111	19,737,921	19,205,084
D.	Technical provisions held on account and at risk of life insurance policyholders		24	4,318,331	4,142,636	3,416,231
E.	Financial liabilities
	I.	Liabilities from loans	25	47,114	48,505	55,356
	II.	Derivatives	10	26,598	3,663	26,939
				73,711	52,168	82,295
F.	Other provisions
	I.	Pensions and similar provisions	26	593,019	524,376	466,837
	II.	Other provisions	27	195,090	208,390	199,568
				788,109	732,766	666,404
G.	Payables and other liabilities		28
	I.	Reinsurance liabilities		902,472	889,550	872,587
	II.	Other payables		572,126	667,380	659,148
	III.	Other liabilities		43,318	21,617	15,718
				1,517,916	1,578,547	1,547,453
H.	Liabilities from income tax		29	19,157	56,170	48,732
I.	Deferred tax liabilities		30	291,739	307,051	305,575
Total equity and liabilities				28,567,658	28,703,713	27,400,616

UNIQA has adjusted the amounts from the previous year in accordance with IAS 8. This primarily concerned the adjustment of deferred profit sharing in health insurance in Germany, adjustments to various technical items in Romania and Serbia, and the retroactive incorporation of tax rate adjustments in Italy and Germany. Furthermore, various provisions and the resulting goodwill were adjusted retroactively in order to correct the initial consolidation. The special tax for the financial sector that was recorded in the past years is included in the other operating expenses.

According to IAS 8, the following parts of the final report are affected by the change in the balancing of the accounts of defined benefit plans: the Consolidated Balance Sheet, Consolidated Income Statement, Consolidated Comprehensive Income Statement, Group Cash Flow Statement, Development of Group Equity, Segment Reports, earnings per share and the details in the Group Notes.

Consolidated Balance Sheet			31 Dec. 2010 after change	31 Dec. 2010 before change	31 Dec. 2010 change
Figures in € thousand			31 Dec. 2010 after change	31 Dec. 2010 before change	31 Dec. 2010 change
Assets
C.	Intangible assets		1,521,877	1,509,448	12,429
	I.	Deferred acquisition costs	891,131	885,646	5,486
	II.	Goodwill	599,643	592,402	7,241
	III.	Other intangible assets	31,103	31,400	–297
E.	Investments		17,772,746	17,772,793	–48
	II.	Fixed interest securities	11,855,874	11,855,922	–48
		3. At fair value through profit or loss	317,335	317,383	–48
G.	Share of reinsurance in technical provisionsRückstellungen		713,959	712,476	1,483
	I.	Provision for unearned premiums	22,238	20,755	1,483
I.	Receivables including receivables under insurance business		1,004,484	1,007,415	–2,931
	II.	Other receivables	909,924	912,855	–2,931
K.	Deferred tax assets		103,401	105,821	–2,420
Total assets			28,703,713	28,695,200	8,513
Equity and liabilities
A.	Total equity		1,521,454	1,536,641	–15,187
	I.	Shareholders’ equity	1,277,155	1,291,589	–14,434
		2. Revenue reserves	718,219	731,217	–12,998
		3. Revaluation reserves	–2,511	–15,639	13,128
		5. Group total profit/loss	43,053	57,617	–14,565
	II.	Minority interests in shareholders' equity	244,299	245,051	–753
C.	Technical provisions		19,737,921	19,728,494	9,427
	I.	Provision for unearned premiums	598,646	594,822	3,824
	II.	Actuarial provision	16,479,906	16,479,742	164
	III.	Provision for outstanding claims	2,392,514	2,392,372	142
	V.	Provision for profit-related premium refunds, i.e. policyholder profit sharing	169,912	164,695	5,217
	VI.	Other technical provisions	47,472	47,392	80
F.	Other provisions		732,766	725,526	7,241
	II.	Other provisions	208,390	201,149	7,241
G.	Payables and other liabilities		1,578,547	1,564,551	13,995
	II.	Other payables	667,380	660,339	7,041
	III.	Other payables	21,617	14,662	6,955
I.	Deferred tax liabilities		307,051	314,014	–6,963
Total equity and liabilities			28,703,713	28,695,200	8,513

Consolidated Income Statement			2010 after change	2010 before change	2010 change
Figures in € thousand			2010 after change	2010 before change	2010 change
2.	Change due to premiums earned (retained)		–38,103	–35,877	–2,225
	a)	Gross	–39,260	–35,552	–3,709
	b)	Reinsurers’ share	1,158	–326	1,483
3.	Premiums earned (retained)		5,138,622	5,140,847	–2,225
	a)	Gross	5,339,878	5,343,587	–3,709
	b)	Reinsurers’ share	–201,256	–202,740	1,483
4.	Income from fees and commissions
	Reinsurance commission and profit shares from reinsurance business ceded		14,483	16,574	–2,091
7.	Insurance benefits		–4,458,285	–4,458,075	–210
	a)	Gross	–4,566,133	–4,565,923	–210
8.	Operating expenses		–1,361,977	–1,362,231	254
	a)	Acquisition costs	–935,746	–936,001	254
9.	Other expenses		–132,899	–132,967	68
11.	Operating profit		173,321	177,524	–4,203
13.	Profit on ordinary activities		141,830	146,033	–4,203
14.	Income taxes		–50,967	–50,981	14
15.	Net profit/loss		90,863	95,052	–4,189
	of which consolidated profit		42,266	46,434	–4,168
	of which minority interests		48,597	48,618	–21
Earnings per share in €			0.30	0.33	–0.03

Classified by region	2010 after change	2010 before change	2010 change
Figures in € thousand	2010 after change	2010 before change	2010 change
Premiums earned (retained)
Romania	58,766	60,991	–2,225
In the consolidated financial statements	5,138,622	5,140,847	–2,225
Insurance benefits (net)
Germany	–269,280	–269,234	–46
Serbia	–16,338	–16,174	–164
In the consolidated financial statements	–4,458,285	–4,458,075	–210
Operating expenses
Romania	–34,991	–35,246	254
In the consolidated financial statements	–1,361,977	–1,362,231	254
Profit on ordinary activities
Germany	–7,138	–7,092	–46
Romania	–22,101	–18,160	–3,941
Serbia	947	1,163	–216
In the consolidated financial statements	141,830	146,033	–4,203

Consolidated Balance Sheetas at 31 December 2011

Consolidated Balance Sheet
as at 31 December 2011