Consolidated Statement of Comprehensive Income
from 1 January to 31 December 2014


in € thousand

2014

20131)

1)

Prior-year amounts have been adjusted in accordance with IAS 8.42.

2)

Diluted earnings per share equates to basic earnings per share. Calculated based on consolidated profit.

Profit for the year

292,877

287,858

Items not to be reclassified to profit or loss in subsequent periods

 

 

Actuarial gains and losses on defined benefit obligations

 

 

Gains (losses) recognised in equity

–46,042

–32,157

Gains (losses) recognised in equity - deferred taxes

8,841

6,757

Gains (losses) recognised in equity - deferred profit participation

9,779

4,579

 

–27,422

–20,821

Items to be reclassified to profit or loss in subsequent periods

 

 

Currency translation

 

 

Gains (losses) recognised in equity

–64,364

–24,897

Recognised in the consolidated income statement

0

–6,332

Unrealised gains and losses on investments

 

 

Gains (losses) recognised in equity

1,318,234

–170,192

Gains (losses) recognised in equity - deferred taxes

–127,346

21,194

Gains (losses) recognised in equity - deferred profit participation

–893,479

76,778

Recognised in the consolidated income statement

–174,736

–239,082

Recognised in the consolidated income statement - deferred tax

11,112

28,104

Recognised in the consolidated income statement - deferred profit participation

98,135

150,511

Change from measurement under the equity method

 

 

Gains (losses) recognised in equity

–7,445

–10,979

Recognised in the consolidated income statement

0

–1,710

Other changes2)

2,238

–1,540

 

162,350

–178,143

Other comprehensive income

134,928

–198,964

Total comprehensive income

427,805

88,894

of which attributable to shareholders of UNIQA Insurance Group AG

426,516

86,282

of which attributable to non-controlling interests

1,289

2,612

In the 2014 financial year the presentation of the income statement was expanded to include the key management indicator “technical result” as a subtotal.

The items other income and other expenses were split and recorded as other technical and other non-technical income and/or expenses.

The portion of the technical interest income that is financed from capital gains was also reclassified as technical income, since the corresponding expense is also included in the insurance benefits. The technical interest is the amount that we earned in insurance business from investing the assets that cover technical provisions.

The item Amortisation of goodwill and impairment losses has also been reclassified under operating profit/(loss).

The values as at 31 December 2013 and 2012 have been adjusted in accordance with IAS 8.42. Equity as at 31 December 2013 decreased by EUR 4,788 thousand, whereas equity as at 31December 2012 increased by EUR 4,258 thousand. The adjusted profit/(loss) for 2013 increased by EUR 1,081 thousand. The adjustments related to:

  • Reclassification of deferred acquisition costs previously calculated in the insurance provision, the provision for pending losses and in the premiums brought forward to the asset side of the statement of financial position, and presentation as deferred acquisition costs,
  • Change in the determination and amortisation of deferred acquisition costs,
  • Taking into account deferred profit sharing in the Italian classic life insurance business for cumulative value increases of investments shown in the revaluation reserve.
  • Netting of deferred tax assets and liabilities on account of duration matching and identical financial management.
  • Separate presentation of investments under investment contracts, which had previously been reported under investments held for unit-linked and index-linked life insurance investments. The liabilities resulting from this have been reclassified from technical provisions for unit-linked and index-linked life insurance to other liabilities.

Consolidated statement of financial position

31/12/2013

31/12/2013

31/12/2013

in € thousand

After adjustment

Before adjustment

Adjustment

Assets

 

 

 

C.

Intangible assets

1,529,131

1,462,530

66,601

 

I.

Deferred acquisition costs

994,501

927,900

66,601

E.

Investments

19,038,091

18,989,501

48,590

 

V.

Investments under investment contracts

48,590

0

48,590

F.

Unit-linked and index-linked life insurance investments

5,332,611

5,381,201

–48,590

K.

Deferred tax assets

8,695

142,215

–133,520

Total assets

31,001,715

31,068,634

–66,919

Equity and liabilities

 

 

 

A.

Total equity

2,785,139

2,789,927

–4,788

 

I.

Shareholders’ equity

2,763,127

2,767,717

–4,590

 

 

3. Revaluation reserve

177,133

193,465

–16,331

 

 

5. Consolidated profit

119,951

108,209

11,742

 

II.

Non-controlling interests

22,012

22,210

–199

C.

Technical provisions

19,900,215

19,826,710

73,505

 

I.

Unearned premiums

631,588

621,986

9,602

 

II.

Insurance provision

16,447,408

16,409,428

37,980

 

V.

Provision for profit-related premium refunds and/or policyholder profit participation

360,676

334,753

25,922

D.

Technical provisions for unit-linked and index-linked life insurance

5,251,035

5,299,625

–48,590

G.

Liabilities and other items classified as equity and liabilities

1,362,117

1,313,527

48,590

 

II.

Other liabilities

505,022

456,432

48,590

I.

Deferred tax liabilities

198,980

334,616

–135,636

Total equity and liabilities

31,001,715

31,068,634

–66,919

Consolidated income statement

2013

2013

2013

in € thousand

After adjustment

Before adjustment

Adjustment

1.

Premiums earned (net)

4,938,600

4,935,888

2,712

 

a) Gross

5,149,467

5,146,755

2,712

4.

Insurance benefits

–3,959,448

–3,955,268

–4,180

 

a) Gross

–4,078,083

–4,073,903

–4,180

5.

Operating expenses

–1,354,167

–1,357,589

3,422

 

a) Expenses for the acquisition of insurance

–942,528

–945,950

3,422

7.

Technical result

48,772

46,817

1,955

13.

Operating profit/(loss)

347,151

345,195

1,955

16.

Profit/(loss) from ordinary activities

307,569

305,614

1,955

17.

Income taxes

–69,711

–68,837

–874

19.

Profit for the year

287,858

286,777

1,081

 

of which attributable to shareholders of UNIQA Insurance Group AG

284,660

283,447

1,213

 

of which attributable to non-controlling interests

3,198

3,330

–132

Earnings per share (in €)

1.21

1.20

0.01

Consolidated statement of financial position

31/12/2012

31/12/2012

31/12/2012

in € thousand

After adjustment

Before adjustment

Adjustment

Assets

 

 

 

C.

Intangible assets

1,480,903

1,417,725

63,179

 

I.

Deferred acquisition costs

931,981

868,802

63,179

E.

Investments

17,912,749

17,869,686

43,064

 

V.

Investments under investment contracts

43,064

0

43,064

F.

Unit-linked and index-linked life insurance investments

5,023,764

5,066,828

–43,064

K.

Deferred tax assets

6,673

128,608

–121,936

Total assets

29,995,797

30,054,554

–58,757

Equity and liabilities

 

 

 

A.

Total equity

2,034,208

2,029,950

4,258

 

I.

Shareholders’ equity

2,013,533

2,009,299

4,233

 

 

3. Revaluation reserve

309,232

315,528

–6,295

 

 

5. Consolidated profit

78,258

67,729

10,529

 

II.

Non-controlling interests

20,675

20,651

25

C.

Technical provisions

19,847,540

19,790,921

56,618

 

I.

Unearned premiums

629,480

617,165

12,315

 

II.

Insurance provision

16,191,990

16,158,189

33,801

 

V.

Provision for profit-related premium refunds and/or policyholder profit participation

566,721

556,218

10,503

D.

Technical provisions for unit-linked and index-linked life insurance

4,939,966

4,983,029

–43,064

G.

Liabilities and other items classified as equity and liabilities

1,532,338

1,479,065

53,273

 

II.

Other liabilities

613,707

560,434

53,273

I.

Deferred tax liabilities

245,956

365,590

–119,633

Total equity and liabilities

29,995,797

30,054,554

–58,757

© UNIQA Group 2015