With a premium volume written (including savings portions from unit-linked and index-linked life insurance) of €5,309.5 million, the UNIQA Group is among the leading insurance groups in Central and Eastern Europe. The savings portions from unit-linked and index-linked life insurance in the amount of €320.5 million are set off against the change in insurance provision, pursuant to 97 (). Without taking the savings portions from unit-linked and index-linked life insurance into consideration, the premium volume written amounted to €4,989.0 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 virtually the entire range of insurance lines. UNIQA is the second-largest insurance group in Austria, with a presence in 15 countries of the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. In addition, insurance companies in Switzerland and Liechtenstein are also part of the UNIQA Group.

The listed holding company UNIQA Insurance Group AG manages the Group and also operates the indirect insurance business concluded as active reinsurance with another insurance company. Moreover, UNIQA Insurance Group AG carries out numerous service functions for UNIQA Österreich Versicherungen AG and its international Group companies, in order to take best advantage of synergy effects and to implement the Group’s long-term corporate strategy consistently.

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.

Property and casualty insurance

The property and casualty insurance line includes property insurance for private individuals and companies, as well as private casualty insurance. The UNIQA Group received premiums written in property and casualty insurance in 2018 in the amount of €2,774.4 million (2017: €2,639.7 million) – which is 52.3 per cent (2017: 49.9 per cent) of total premium volume. The largest share by far in the volume of property and casualty insurance comes from private consumer business. Most property and casualty insurance policies are taken out for a limited term of up to three years. A broad spread across the different risks of a great many customers and the relatively short terms of these contracts lead to only moderate capital requirements and also make this field of business attractive as a result.

Health insurance

Health insurance in Austria includes voluntary health insurance for private customers, commercial preventive healthcare and opt-out offers for certain independent professions such as lawyers, architects, and chemists. Although health insurance is still at the early stages in CEE, increased levels of prosperity in the region make the long-term growth potential even greater. Group-wide in 2018, premiums written totalled €1,086.4 million (2017: €1,042.0 million) – 20.5 per cent (2017: 19.7 per cent) of total premium volume. UNIQA is the undisputed market leader in this strategically important line of insurance in Austria with around 46 per cent of market share. The overwhelming majority comes from Austria with around 93 per cent of premiums, with the remaining 7 per cent from international business.

Life insurance

Life insurance covers economic risks that stem from the uncertainty as to how long a customer will live. It includes savings products such as classic and unit-linked life insurance. There are also “biometric products” which hedge against risks such as occupational disability, long-term care needs or death. The life insurance business model is oriented towards the long term, with policy terms at around 25 years on average. Life insurance is still facing major challenges, as the low interest rate environment is particularly disadvantageous to all long-term forms of saving and investment, including for life insurance. In life insurance, UNIQA reached a premium volume (including savings portions from unit-linked and index-linked life insurance) Group-wide in 2018 of €1,448.6 million (2017: €1,611.6 million) – 27.3 per cent (2017: 30.4 per cent) of total premium volume.


UNIQA has consistently been rated at least “A–” by rating agency Standard & Poor’s since 2013. Standard & Poor’s also confirmed the “A–” rating for UNIQA Insurance Group AG for 2018. 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 received an “A–”. Standard & Poor’s rates the outlook for all the companies as stable. UNIQA’s subordinated bonds are rated “BBB”.

Companies included in the IFRS consolidated financial statements

In addition to the annual financial statements of UNIQA Insurance Group AG, the consolidated financial statements include the financial statements of all subsidiaries in Austria and abroad as well as those of the investment funds under the Group’s control. Including UNIQA Insurance Group AG, the basis of consolidation comprised 34 Austrian (2017: 35) and 59 international (2017: 59) subsidiaries along with six Austrian (2017: 6) and one international (2017: 2) investment funds under the Group’s control. The associates are five domestic (2017: 6) and one international company (2017: 1) that were included in the consolidated financial statements using equity method accounting.

Details on the consolidated companies and associates are contained in the corresponding overview in the consolidated financial statements. The accounting policies are also described in the consolidated financial statements.

Error corrections

Errors were corrected in accordance with IAS 8 as part of the process for preparing the consolidated annual financial statements. This resulted in adjustments to the values for the 2017 financial year. See note 37 in the consolidated financial statements for further details.

Risk reporting

UNIQA’s comprehensive risk and opportunities report is included in the notes to the 2018 consolidated financial statements.

Corporate Governance Report

Since 2004, UNIQA has pledged to comply with the Austrian Code of Corporate Governance. UNIQA publishes its consolidated Corporate Governance Report at www.uniqagroup.com in the Investor Relations section.

Consolidated non-financial statement, consolidated non-financial report

Pursuant to Section 267a (6) of the Austrian Commercial Code, UNIQA Insurance Group AG prepares its consolidated non-financial statement as a separate consolidated non-financial report. The separate consolidated non-financial report is prepared and signed by all of the statutory corporate representatives. It is submitted to the Supervisory Board for review and published together with the Group Management Report pursuant to Section 280 of the Austrian Commercial Code.

US Financial Accounting Standards that set out the details on US GAAP (Generally Accepted Accounting Principles).
US Generally Accepted Accounting Principles.