29. Remuneration for the Management Board and Supervisory Board

Remuneration for the Management Board

In € thousand

1–12/2019

1–12/2018

1)	The fixed salary components include remuneration in kind equivalent to 35 thousand (2018: 35 thousand).
2)	The Short-Term Incentive (STI) comprises a variable remuneration component which is paid beginning with the 2017 financial year, partly in the following year and partly after three years (the “deferred component”).
3)	The Long-Term Incentive (LTI) corresponds to a share-based remuneration agreement first introduced in 2013, with the beneficiary entitled to receive a cash settlement following a four-year term.

Fixed remuneration¹⁾

1,574

1,612

Variable remuneration²⁾

1,141

1,295

Multi-year share-based remuneration³⁾

468

450

Current remuneration

3,183

3,356

For the 2017 financial year, expected payments of €423 thousand will be made for variable remuneration (STI) in subsequent years. For the 2018 financial year, payments of €437 thousand are expected to be made in the year 2022. For the 2019 financial year, payments of €1,585 thousand are expected to be made in the years 2020 and 2023.

As part of the multi-year long-term incentive plan (LTI), payments of €468 thousand were made to the members of the Management Board of UNIQA Insurance Group AG in 2019. For the subsequent years 2020 to 2023, a payment of €2,559 thousand is expected for the virtual shares allocated up to 31 December 2019.

Existing pension contributions for the members of the Management Board amounted to €359 thousand in the reporting year (2018: €359 thousand). The amount expended on pensions in the reporting year for former members of the Management Board and their survivors was €2,766 thousand (2018: €2,492 thousand).

The compensation to the members of the Supervisory Board for their work in the 2018 financial year was €739 thousand. Provisions of €745 thousand have been recognised for the remuneration to be paid for their work in 2019. The amount paid out in attendance fees and cash expenditures in the financial year was €72 thousand (2018: €67 thousand).