Group holding company


The parent company of the UNIQA Group is UNIQA Insurance Group AG. 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 UNIQA. The group of companies also includes the non-consolidated subsidiaries, associates and joint ventures of UNIQA.

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 UNIQA, along with their close family members.

Related party transactions – companies

In € thousand

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2015

 

 

 

 

 

Premiums written (gross)

0

2,001

1,091

33,821

36,913

Interest income and expenses due to loans with companies that are related parties

0

1,271

45

1,530

2,847

Interest income and expenses from loans with banks that are related parties and from investments in companies that are related parties

0

490

7,295

3,522

11,306

As at 31 December 2015

 

 

 

 

 

Investments at fair value

135,848

11,820

445,464

133,323

726,455

Bank deposits

0

0

0

294,286

294,286

In € thousand

Companies with significant influence on UNIQA Group

Affiliated but not consolidated companies

Associated companies of UNIQA Group

Other related parties

Total

Transactions 2014

 

 

 

 

 

Premiums written (gross)

318

1,592

812

58,659

61,381

Interest income and expenses due to 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

As at 31 December 2014

 

 

 

 

 

Investments at fair value

138,935

198,305

519,123

385,211

1,241,574

Bank deposits

0

0

0

358,177

358,177

Related party transactions – individuals

In € thousand

2015

2014

1)

This item includes fixed and variable Management Board and Supervisory Board remuneration components.

Premiums written (gross)

1,066

824

Salaries and short term benefits1)

4,526

3,725

Pension expenses

819

857

Compensation on termination of employment contract

–324

45

Share-based payments

1,941

89

Other income

236

251

Other financial obligations and contingent liabilities

In € thousand

31/12/2015

31/12/2014

Contingent liabilities from risks of litigation

0

24,189

Austria

0

0

other countries

0

24,189

Other contingent liabilities

13,535

12,125

Austria

13,262

12,125

other countries

273

0

Total

13,535

36,313

The UNIQA companies 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 UNIQA’s financial situation or the operating earnings.

Ukraine (Non-Life) – Option to purchase granted

Since the acquisition of the shares in the Ukrainian “Closed JSC Credo-Classic Insurance Company” (now “Insurance Company ‘UNIQA’”, Kiev), the shares held by UNIQA since 2006 have been gradually increased to the current level of 92.23 %. The existing option agreements with the two remaining minority shareholders were agreed again in 2015. This gives UNIQA the option of acquiring further shares in the company from the local minority shareholders based on previously agreed purchase price formulas in option windows in 2017 and 2020.

Lease expenses

In € thousand

2015

2014

Current lease expenses

3,664

7,826

 

 

 

Future lease payments in connection with the financing of the UNIQA Group headquarters in Vienna

 

 

up to 1 year

0

5,102

more than 1 year up to 5 years

0

17,859

more than 5 years

0

0

Total

0

22,961

Income from sublease

0

550

We moved into the UNIQA Group headquarters – the UNIQA Tower – in 2004. In the second Quarter of 2015 UNIQA Immobilien-Projekterrichtungs GmbH was acquired by UNIQA, meaning that no more future lease payments will be incurred in connection with the financing of the head office in Vienna.

Expenses for the auditor of the financial statements

The auditor fees in the financial year were € 1,965 thousand (2014: € 1,100 thousand); of which € 307 thousand (2014: € 280 thousand) is attributable to the annual audit, € 1,590 thousand (2014: € 652 thousand) to other auditing services and € 68 thousand (2014: € 168 thousand) to other services.

© UNIQA Group 2016