Group Financial Statements

Consolidated Income Statement
from 1 January until 31 December 2019

(XLS:) Download

In € thousand

Notes

1–12/2019

1–12/2018 adjusted

1)

Diluted earnings per share equate to undiluted earnings per share. This is calculated on the basis of the consolidated profit/(loss).

(net)

7

 

 

Gross

 

5,034,721

4,950,079

Reinsurers’ share

 

–173,651

–189,335

 

 

4,861,071

4,760,744

Technical interest income

 

331,238

335,586

Other insurance income

 

 

 

Gross

 

21,438

32,302

Reinsurers’ share

 

75

92

 

 

21,514

32,395

8

 

 

Gross

 

–3,756,264

–3,800,194

Reinsurers’ share

 

99,186

166,447

 

 

–3,657,078

–3,633,748

9

 

 

Expenses for the acquisition of insurance

 

–925,258

–865,546

Other operating expenses

 

–499,741

–462,706

commission and share of profit from reinsurance ceded

 

17,883

13,599

 

 

–1,407,116

–1,314,653

Other technical expenses

 

 

 

Gross

 

–46,360

–41,525

Reinsurers’ share

 

–3,742

–5,725

 

 

–50,102

–47,250

Technical result

 

99,526

133,074

 

 

 

 

Net investment income

4

 

 

Income from investments

 

768,959

917,575

Expenses from investments

 

–248,143

–441,735

Financial assets accounted for using the

 

64,428

109,189

 

 

585,244

585,029

Other income

26

192,359

177,258

Reclassification of technical interest income

 

–331,238

–335,586

Other expenses

27

–191,019

–209,683

Non-technical result

 

255,346

217,018

 

 

 

 

Operating profit/(loss)

 

354,872

350,092

Amortisation of goodwill and impairment losses

 

–4,562

–2,674

Finance cost

 

–54,643

–52,800

Earnings before taxes

 

295,667

294,618

Income taxes

16

–59,172

–59,470

Profit/(loss) for the period

 

236,496

235,148

of which attributable to shareholders of UNIQA Insurance Group AG

 

232,360

243,274

of which attributable to

 

4,135

–8,126

 

 

 

 

Earnings per share (in €)1)

 

0,76

0,79

Average number of shares in circulation

 

306,965,261

306,965,261
Premiums earned
The actuarial premiums earned that determine the income for the year. In order to determine these, the changes to the unearned premiums, the cancellation provisions and the premium volume not yet written are taken into account, along with the gross premium volume written attributable to the financial year.
Insurance benefits
Total of insurance benefit payments and changes in the claims provision during the financial year in connection with direct insurance and reinsurance contracts (gross). This involves net insurance benefits when reduced by the amount ceded to reinsurance companies. This does not include claims settlement expenses and changes in the provisions for claims settlement expenses.
Operating expenses
This item includes acquisition expenses, portfolio management expenses and the expenses for implementing reinsurance. The operating expenses remain for the company’s own account following deduction of the commissions and profit participation received from the reinsurance business ceded.
Reinsurance
An insurance company insures part of its risk via another insurance company.
Equity method
Investment in associates is accounted for using this method. The value assessed corresponds with the Group’s proportional equity in these companies. In the case of shares in companies that prepare their own consolidated financial statements, their Group equity is assessed accordingly in each case. Within the scope of ongoing valuations, this value must be updated to incorporate proportional changes in equity; it is used to impute the pro rata profit on ordinary activities to the Group results.
Non-controlling interests
Shares in the profit/(loss) that are not attributable to the Group but rather to companies outside the Group that hold shares in affiliated companies.