With a premium volume written (including the savings portion from the unit-linked and index-linked life insurance) of €6,064.4 million, the UNIQA Group is among the leading insurance groups in Central and Eastern Europe. The savings portion from the unit-linked and index-linked life insurance in the amount of €544.7 million was set off against the change in actuarial reserves, pursuant to FAS 97 (US-GAAP). Without taking the savings portion from the unit-linked and index-linked life insurance into consideration, the premium volume written amounted to €5,519.7 million.
UNIQA in Europe
UNIQA offers its products and services via all distribution channels (hired sales force, general agencies, brokers, banks and direct sales) and covers the entire range of insurance lines.
The listed holding company, UNIQA Insurance Group AG, manages the Group and also operates the indirect insurance business. In addition, it carries out numerous service functions for the Austrian and international insurance companies, in order to take best advantage of synergy effects and to consistently implement the Group’s long-term corporate strategy.
UNIQA International AG manages the international activities of the Group. This entity is also responsible for the ongoing monitoring and analysis of the international target markets and for acquisitions and post-merger integration.
New responsibilities on the Management Board of UNIQA Insurance Group AG
On 1 January 2015, Kurt Svoboda took over the role of Chief Financial Officer (CFO) in addition to his responsibilities as Chief Risk Officer (CRO). Hannes Bogner, who was the CFO up until that point, became the Chief Investment Officer (CIO) and his main responsibility is to focus on the area of Investments as well as Legal & Compliance.
Rating
In October 2014, the rating agency Standard & Poor’s confirmed the rating of UNIQA Insurance Group AG as “A-”. The ratings of UNIQA Österreich Versicherungen AG and the Group’s reinsurer, UNIQA Re AG in Switzerland, also remained “A”. UNIQA Versicherung AG in Liechtenstein was rated for the first time and received an “A-”. The rating of the UNIQA supplementary capital bond continues to be “BBB”. The outlook for all the companies is considered by Standard & Poor’s to be “stable”.
Standard & Poor’s substantiates this confirmation of their ratings with the continued strong competitive position and the very strong capital base. The rating agency recognises an improvement in liquid funds: in this area the rating was raised from “strong” to “exceptional”.
Companies included in the IFRS consolidated financial statements
In addition to UNIQA Insurance Group AG, UNIQA’s 2014 consolidated financial statements include 53 Austrian and 70 international companies. A total of 27 affiliated companies whose influence on a true and fair presentation of the financial position, financial performance and cash flows was immaterial were not included in the consolidated financial statements. In add-ition, nine Austrian companies were recognised as associates using equity method accounting. Seven associates were of minor importance, and shares held in these companies are recognised at fair value.
Details on the consolidated companies and associates are contained in the corresponding overview in the notes to the consolidated financial statements. The accounting policies are also described in the notes to the consolidated financial statements.
Risk report
UNIQA’s comprehensive risk report is included in the notes to the consolidated financial statements 2014.
Corporate Governance Report
Since 2004, UNIQA has pledged to comply with the Austrian Code of Corporate Governance and publishes the Corporate Governance Report at www.uniqagroup.com in the Investor Relations section.
