Highlights of 2017

UNIQA relies on partial internal model for Solvency II

The UNIQA Group has been relying on a (PIM) for the purposes of determining the quantitative capital requirements in property and casualty insurance since 2017. This model, which has been approved by the Austrian Financial Market Authority (FMA), allows UNIQA to map actuarial risks more precisely in line with the Company’s individual structure.

S&P confirms UNIQA’s excellent rating

In an update on UNIQA published in June 2017, Standard & Poor’s confirmed UNIQA’s current rating of “A–” with a stable outlook. Above all, the strong capital and earnings position, as well as the balanced product portfolio in life, property and health insurance, had a particularly positive impact on the rating.

UNIQA sets the course for the future

Since 1 January 2018, UNIQA has been dealing with topics such as the future of digitalisation and changing customer expectations and market requirements through separate functions represented at the Management Board level. Alexander Bockelmann now heads the Digitalisation department at both UNIQA Austria and UNIQA International, and therefore has taken on responsibility for this topic across the entire Group. Sabine Usaty-Seewald has taken over the Customers and Markets department at UNIQA Austria. Peter Humer took over responsibility for Sales on the Management Board of UNIQA Austria.

UNIQA expands start-up portfolio

In October 2017, the UNIQA Group invested in the Czech fintech company Twisto, which provides innovative short-term financing options for everyday use. This was the fourth start-up in 2017 after “fragnebenan.at” (a neighbourhood platform), the SME funding platform “FinCompare” and “FINABRO”, a digital advice service for private savings and long-term investments. And in 2018, things are continuing to progress at an undiminished pace: in February, the UNIQA Group invested in “bsurance”, a start-up specialising in affinity products, providing insurance products to end-customers via retail enterprises and other companies with broad customer bases.

UNIQA invests in infrastructure

UNIQA made two further investments in the area of infrastructure in 2017. In Hungary, UNIQA co-financed the expansion of the airport terminal in Budapest, and in Germany UNIQA was involved in investments for the construction of an off-shore wind farm in the North Sea. As a result, UNIQA had investments of around € 130 million in infrastructure bonds and loans at year-end.

200 UNIQA employees support the Special Olympics World Winter Games 2017

The tasks the volunteers in Styria took on included catering for participants during the Games, security service tasks, and setup and removal activities during the competition.

UNIQA Austria launches innovative health services

Acute care insurance “Akut-Versorgt” has given customers from Vienna, Lower Austria and Burgenland the opportunity to receive primary care for acute conditions at the Döbling Private Hospital around the clock since March 2017.

UNIQA publishes its first ever SFCR for 2016

UNIQA published its and Financial Condition Report (SFCR) 2016 on 24 May 2017. The UNIQA Group’s economic capital ratio, which serves as an indicator for capitalisation, was 215 per cent as at 31 December 2016, and therefore is at a very high level.

UNIQA sells shares in Casinos Austria

In January 2017, UNIQA decided to sell its indirect stake of 11.35 per cent in Casinos Austria Aktiengesellschaft to CAME Holding GmbH. The legal aspects of the sale were completed in the first quarter of 2018, and it therefore had an effect on the net income for this quar ter with an extraordinary accounting profit of € 47.5 million.

UNIQA increases dividends to shareholders

The UNIQA Group continued its progressive dividend policy of recent years as planned in 2018, and proposed a dividend increase to 51 cents for the 2017 financial year to the Annual General Meeting.

UNIQA completes sale of its Italian subsidiaries

The legal aspects of the sale of UNIQA Assicurazioni SpA and its subsidiaries operating in Italy were completed on 16 May 2017. This allowed UNIQA to strengthen its focus on the core markets of Austria and Central and Eastern Europe. Although the transaction reduced net income for 2017 by € 33.4 million, we significantly fortified our capital position and also reduced our market risk considerably as a result.

UNIQA opens Innovation Lab at weXelerate

November 2017 saw the opening of a 9,000 square metre innovation centre and start-up hub in Vienna’s Design Tower. It is the largest of its kind in Central and Eastern Europe. UNIQA is not just the lessor, but is also corporate partner to weXelerate, providing an opportunity for close collaboration between selected start-ups. This allows start-ups to benefit from the insurance company’s established infrastructure, prominence, market experience, and – last but not least – financial strength.

UNIQA is main sponsor of the Austrian Cup

The UNIQA Group will be the main sponsor and also the namesake of the UNIQA ÖFB Cup (Austrian Cup) for the next five years – until 2022.

(Partial) internal model
Internally generated model developed by the insurance or reinsurance entity concerned and at the instruction of the FMA to calculate the solvency capital requirement or relevant risk modules (on a partial basis).
An insurance company’s equity base.