In addition to the annual financial statement of UNIQA Insurance Group AG, the consolidated financial statements include the financial statements of all subsidiaries in Austria and abroad. In addition to UNIQA Insurance Group AG, the basis of consolidation included 52 Austrian and 70 foreign subsidiaries. Affiliated companies and associates shows a complete list of the subsidiaries and associates.
The associates relate to eight domestic and one foreign company that were included in the consolidated financial statements using equity method accounting.
In applying IAS 39, fully controlled investment funds were included in the consolidation, insofar as their fund volumes were not of minor importance when viewed separately and as a whole.
The group of consolidated companies was expanded with the following companies in the reporting period as a result of the acquisition of the insurance companies of the Baloise Group in Croatia and Serbia.
|
|
Date of first-time inclusion |
Acquired shares |
Costs |
|
|
in € thousand |
(in per cent) |
|
|
|
|
Basler osiguranje Zagreb d.d. |
31/03/2014 |
100.0 |
67,000 |
15,733 |
|
Neživotno osiguranje Basler a.d.o |
31/03/2014 |
100.0 |
5,000 |
199 |
|
Životno osiguranje Basler a.d.o |
31/03/2014 |
100.0 |
3,000 |
340 |
|
Poliklinika Medico |
31/03/2014 |
100.0 |
0 |
0 |
|
Sedmi element d.o.o. |
31/03/2014 |
100.0 |
3 |
405 |
|
Deveti element d.o.o. |
31/03/2014 |
100.0 |
152 |
53 |
UNIQA is consolidating its market position in the Southeastern Europe region (SEE) with the acquisition and integration of these companies.
Basler osiguranje Zagreb d.d. was merged with UNIQA osiguranje d.d. in the third quarter of 2014. In the fourth quarter, the Serbian companies Neživotno osiguranje Basler a.d.o were merged with UNIQA neživotno osiguranje a.d. and Životno osiguranje Basler a.d.o with UNIQA životno osiguranje a.d. In Italy, UNIQA Protezione S.p.A. was merged with UNIQA Assicurazioni S.p.A. effective retrospectively as of 1 January 2014. The initial consolidation of the Baloise Group in Croatia and Serbia which took place on 31 March 2014 was based on preliminary figures and was adjusted as at 31 December 2014 to reflect the final valuation of the incorporated assets and liabilities. The adjustment reflecting the final valuation mainly pertained to the items goodwill, the insurance contract portfolio, deferred acquisition costs and deferred taxes.
The sale of UNIQA Lebensversicherung AG, Vaduz, was decided in the fourth quarter of 2014. Until this transaction has been completed (expected completion in first half of 2015) the assets and liabilities for this company will be stated as separate items in the statement of financial position: see No. 8 of the notes to the consolidated financial statements for details.
The changes to the basis of consolidation stated above all relate to the UNIQA International segment.
Following the mergers in Croatia and Serbia described above, separate disclosure of the revenues and profits or losses of the acquired companies that are included in the consolidated statement of comprehensive income is no longer possible. The premiums earned along with the profit/(loss) on ordinary activities for Croatia and Serbia as a whole can be seen in the breakdown of the UNIQA International segment by region.
