The parent company of the UNIQA Group is UNIQA Insurance Group AG. This company is registered in the company registry of the Commercial Court of Vienna under FN 92933t. In addition to its duties as Group holding company, this company also performs the duties of a Group reinsurer.
Related companies and persons
Companies of the UNIQA Group enter into various transactions with related companies and persons.
In line with IAS 24, related companies are identified as those companies, which exercise either a controlling or significant influence on the UNIQA Group. Related parties also include non-consolidated subsidiaries, associates and joint ventures of the UNIQA Group.
Related parties also include persons in key management positions in line with IAS 24, as well as close family members. In particular, this includes key management personnel and their family members as well as family members of those companies which exercise either a controlling or significant influence on the UNIQA Group.
Transactions with related companies
|
|
Companies with significant influence on UNIQA Group |
Affiliated but not consolidated companies |
Associated companies of UNIQA Group |
Other related parties |
Total |
|
Transactions 2013 |
|
|
|
|
|
|
Gross premiums written |
0 |
1,642 |
1,258 |
115,243 |
118,143 |
|
Interest income/expenses due to loans given by UNIQA Group |
572 |
185 |
0 |
602 |
1,359 |
|
Interest income/expenses due to loans given by a bank as a related party (e.g. loans, time deposits, giro) and capital investments (e.g. subscription of bonds) in a related party |
374 |
728 |
5,358 |
44,730 |
51,189 |
|
As at 31.12.2013 |
|
|
|
|
|
|
Investments at market value |
11,185 |
16,507 |
535,039 |
882,640 |
1,445,370 |
|
Deposits with credit institutions |
32 |
1,099 |
2,207 |
1,103,302 |
1,106,640 |
|
Transactions 2012 |
Companies with significant influence on UNIQA Group |
Affiliated but not consolidated companies |
Associated companies of UNIQA Group |
Other related parties |
Total |
|
Transactions 2012 |
|
|
|
|
|
|
Gross premiums written |
8 |
1,104 |
1,258 |
99,927 |
102,297 |
|
Interest income/expenses due to loans given by UNIQA Group |
504 |
56 |
0 |
618 |
1,177 |
|
Interest income/expenses due to loans given by a bank as a related party (e.g. loans, time deposits, giro) and capital investments (e.g. subscription of bonds) in a related party |
1,096 |
809 |
11,836 |
44,217 |
57,957 |
|
As at 31.12.2012 |
|
|
|
|
|
|
Investments at market value |
22,159 |
12,851 |
396,954 |
890,078 |
1,322,042 |
|
Deposits with credit institutions |
14 |
6,259 |
3,484 |
1,139,123 |
1,148,880 |
Transactions with related persons
|
Figures in € thousand |
2013 |
2012 |
||
|
||||
|
Gross premiums written |
837 |
713 |
||
|
Remuneration and short term benefits1) |
5,108 |
5,699 |
||
|
Expenses for employee pensions |
1,571 |
3,016 |
||
|
Compensation on termination of employment contract |
1,424 |
1,415 |
||
|
Share-based compensation |
226 |
0 |
||
|
Other income |
300 |
293 |
||
Other financial commitments and contingent liabilities
|
Figures in € thousand |
31.12.2013 |
31.12.2012 |
|
Contingent liabilities from risks of litigation |
19,720 |
14,700 |
|
Austria |
0 |
0 |
|
Foreign |
19,720 |
14,700 |
|
Other contingent liabilities |
10,830 |
9,254 |
|
Austria |
10,570 |
9,040 |
|
Foreign |
261 |
214 |
|
Total |
30,550 |
23,954 |
The companies of the UNIQA Group are involved in court proceedings in Austria and other countries in connection with their ordinary business operations as insurance companies. The result of the pending or threatened proceedings is often impossible to determine or predict.
In consideration of the provisions set aside for these proceedings, the management is of the opinion that these proceedings have no significant effects on the financial situation and the operating earnings of the UNIQA Group.
Ukraine (Non-Life) - Option to purchase granted
During the incorporation of portions of the Ukrainian company “Closed JSC Credo-Classic Insurance Company” (now “Private JSC UNIQA”), agreements were concluded, which obligate UI-BV to purchase share packages of the local minority shareholders through option agreements on the basis of a predefined purchase price formula. It was initially agreed to exercise the option in the 2nd quarter of 2012, and this was postponed to the financial year 2016 during an amendment of the transaction contracts in 2011. In financial year 2013, this minority interest was reclassified in the context of a previous-year correction in line with IAS 8. What was pro rata goodwill was posted under other liabilities.
|
Figures in € thousand |
2013 |
2012 |
|
Current leasing expenses |
6,825 |
7,257 |
|
|
|
|
|
Future leasing payments due to the financing of the UNIQA Headquarters in Vienna |
|
|
|
Up to 1 year |
5,090 |
5,188 |
|
More than 1 year up to 5 years |
20,360 |
20,754 |
|
More than 5 years |
2,545 |
7,783 |
|
Total |
27,996 |
33,725 |
|
Income from subleasing |
692 |
537 |
We moved into the UNIQA Group headquarters - the UNIQA Tower - in 2004. The aforementioned leasing obligations are based on the investment expenditures in connection with a specific calculatory rate of interest yield.
The auditor fees in this financial year were € 4,423 thousand (2012: € 2,988 thousand). Of these, € 223 thousand (2012: € 274 thousand) were for the audit, € 0 (€ 655 thousand) were for tax advice, € 4,110 thousand (2012: € 1,757 thousand) were for other certification services and € 90 thousand (2012: € 302 thousand) were for other services.
