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 in the UNIQA Group maintain various relationships with related companies and persons.
In accordance with IAS 24, related companies are identified as those companies which either exercise a controlling or crucial influence on the UNIQA Group. The group of companies also includes the non-consolidated subsidiaries, associates and joint ventures of the UNIQA Group.
The related individuals include the members of management holding key positions for the purposes of IAS 24 along with their close family members. This also includes in particular the members of management in key positions at those companies which either exercise a controlling or crucial influence on the UNIQA Group, along with their close family members.
Related party transactions – companies
|
|
Companies with significant influence on the UNIQA Group |
Unconsolidated subsidiaries |
Associates of the UNIQA Group |
Other companies |
Total |
|
Transactions 2014 |
|
|
|
|
|
|
Premiums written (gross) |
318 |
1,592 |
812 |
58,659 |
61,381 |
|
Interest income and expenses from loans with companies that are related parties |
0 |
1,400 |
0 |
1,546 |
2,946 |
|
Interest income and expenses from loans with banks that are related parties and from investments in companies that are related parties |
374 |
4,366 |
10,110 |
30,874 |
45,724 |
|
At 31/12/2014 |
|
|
|
|
|
|
Investments at fair value |
138,935 |
198,305 |
519,123 |
385,211 |
1,241,574 |
|
Bank deposits |
0 |
417,723 |
261 |
358,177 |
776,161 |
|
|
Companies with significant influence on the UNIQA Group |
Unconsolidated subsidiaries |
Associates of the UNIQA Group |
Other companies |
Total |
|
Transactions 2013 |
|
|
|
|
|
|
Premiums written (gross) |
0 |
1,642 |
1,258 |
115,243 |
118,143 |
|
Interest income and expenses from loans with companies that are related parties |
572 |
185 |
0 |
602 |
1,359 |
|
Interest income and expenses from loans with banks that are related parties and from investments in companies that are related parties |
374 |
728 |
5,358 |
44,730 |
51,189 |
|
At 31/12/2013 |
|
|
|
|
|
|
Investments at fair value |
168,989 |
16,507 |
535,039 |
882,640 |
1,445,370 |
|
Bank deposits |
32 |
1,099 |
2,207 |
1,103,302 |
1,106,640 |
Related party transactions – individuals
|
in € thousand |
2014 |
2013 |
||
|
||||
|
Premiums written (gross) |
824 |
837 |
||
|
Salaries and short-term benefits due in the short term1) |
3,725 |
5,108 |
||
|
Pension expenses |
857 |
1,571 |
||
|
Post-employment benefits |
45 |
1,424 |
||
|
Share-based payments |
89 |
226 |
||
|
Other income |
251 |
300 |
||
Other financial obligations and contingent liabilities
|
in € thousand |
31/12/2014 |
31/12/2013 |
|
Contingent liabilities from litigation risks |
24,189 |
19,720 |
|
Austria |
0 |
0 |
|
Outside of Austria |
24,189 |
19,720 |
|
Other contingent liabilities |
12,125 |
10,830 |
|
Austria |
12,125 |
10,570 |
|
Outside of Austria |
0 |
261 |
|
Total |
36,313 |
30,550 |
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 entered into which obligate UNIQA Internationale Beteiligungs-Verwaltungs GmbH to purchase share packages of the local non-controlling shareholders through option agreements on the basis of a predefined purchase price formula. It was initially agreed to exercise the option in the second quarter of 2012, and this was postponed to the 2016 financial year as part of an amendment of the transaction contracts in 2011. In the 2013 financial year, these non-controlling interests were reclassified as equity within the scope of an adjustment for the previous year in accordance with IAS 8 and were stated as other Liabilities with rectification of the proportionate goodwill. The liability amounts to €4,844 thousand, unchanged from the previous year.
Lease expenses
|
in € thousand |
2014 |
2013 |
|
Current lease expenses |
7,826 |
6,825 |
|
|
|
|
|
Future lease payments in connection with the financing of the UNIQA Group headquarters in Vienna |
|
|
|
up to 1 year |
5,102 |
5,090 |
|
more than 1 year up to 5 years |
17,859 |
20,360 |
|
more than 5 years |
0 |
2,545 |
|
Total |
22,961 |
27,996 |
|
Income from subleases |
550 |
692 |
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 interest rate.
Expenses for the auditor of the financial statements
The auditor fees in the financial year were €1,100 thousand (2013: €4,423 thousand); of which €280 thousand (2013: €223 thousand) is attributable to the annual audit, €652 thousand (2013: €4,110 thousand) to other auditing services and €168 thousand (2013: €90 thousand) to other services.
