36. Consolidation principles

Transactions eliminated on consolidation

Intragroup balances and transactions and all income and expenses from intragroup transactions are eliminated when consolidated financial statements are prepared.

Initial consolidation

UNIQA Ventures GmbH (Vienna) and City One Park Sp. z o.o. (Warsaw, Poland) were consolidated for the first time in the first quarter of 2020. Poland, Warsaw.

Acquisitions

In addition to the acquired AXA companies in Poland, the Czech Republic and Slovakia described in the Chapter “Business combinations”, 85 per cent of the shares in Treimorfa Project Sp. z o.o. (Krakow, Poland) were acquired in the second quarter of 2020. UNIQA 5 Star GmbH (Vienna) (previously: SASR Alpha Siebenundfünfzigste Beteiligungsverwaltung GmbH) was acquired in the third quarter of 2020. The acquisitions of Treimorfa Project Sp. z o.o. and UNIQA 5 Star GmbH do not represent a business combination within the meaning of IFRS 3.

Restructuring processes

UNIQA International AG (Vienna) as assigning company was merged in the fourth quarter with UNIQA Österreich Versicherungen AG (Vienna) as acquiring company with retroactive effect from 1 January 2020.

PremiQaMed Management Services GmbH (Vienna) was merged in the third quarter of 2020 with PremiQaMed Holding GmbH (Vienna) as acquiring company.

In the fourth quarter of 2020, UNIQA Real Estate d.o.o. (Belgrade, Serbia) was merged with Renaissance Plaza d.o.o. (Belgrade, Serbia) as the acquiring company.

Sales

The 25 per cent shareholding in SK Versicherung Aktiengesellschaft (Vienna) was sold in September 2020.

Deconsolidation

The fully consolidated investment fund UNIQA Diversified Bond Fund was deconsolidated on 19 October 2020.

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Company
	Type of consolidation	Location	Equity interest at 31/12/2020 in per cent	Equity interest at 31/12/2019 in per cent
Domestic insurance companies
UNIQA Insurance Group AG (Group Holding Company)		Vienna
UNIQA Österreich Versicherungen AG	Fully consolidated	Vienna	100.0	100.0
SK Versicherung Aktiengesellschaft (Deconsolidation: 3/9/2020)	Equity method	Vienna	0.0	25.0

Foreign insurance companies
AXA Życie Towarzystwo Ubezpieczeń S.A. (Initial consolidation: 15 October 2020)	Fully consolidated	Poland, Warsaw	100.0	0.0
AXA Ubezpieczenia Towarzystwo Ubezpieczeń i Reasekuracji S.A. (Initial consolidation: 15 October 2020)	Fully consolidated	Poland, Warsaw	100.0	0.0
AXA pojišťovna a.s. (Initial consolidation: 15/10/2020)	Fully consolidated	Czech Republic, Prague	100.0	0.0
AXA životní pojišťovna a.s. (Initial consolidation: 15/10/2020)	Fully consolidated	Czech Republic, Prague	100.0	0.0
Raiffeisen Life Insurance Company LLC	Fully consolidated	Russia, Moscow	75.0	75.0
SIGAL LIFE UNIQA Group AUSTRIA sh.a	Fully consolidated	Kosovo, Pristina	86.9	86.9
SIGAL LIFE UNIQA Group AUSTRIA sh.a.	Fully consolidated	Albania, Tirana	86.9	86.9
SIGAL UNIQA Group AUSTRIA sh.a.	Fully consolidated	Albania, Tirana	86.9	86.9
SIGAL UNIQA Group AUSTRIA sh.a.	Fully consolidated	Kosovo, Pristina	86.9	86.9
UNIQA AD Skopje	Fully consolidated	North Macedonia, Skopje	86.9	86.9
UNIQA Asigurari de Viata S.A.	Fully consolidated	Romania, Bucharest	100.0	100.0
UNIQA Asigurari S.A.	Fully consolidated	Romania, Bucharest	100.0	100.0
UNIQA Biztosító Zrt.	Fully consolidated	Hungary, Budapest	100.0	100.0
UNIQA Insurance Company, Private Joint Stock Company	Fully consolidated	Ukraine, Kiev	100.0	100.0
UNIQA Insurance plc	Fully consolidated	Bulgaria, Sofia	99.9	99.9
UNIQA Life AD Skopje	Fully consolidated	North Macedonia, Skopje	86.9	86.9
UNIQA Life Insurance plc	Fully consolidated	Bulgaria, Sofia	99.8	99.8
UNIQA LIFE Private Joint Stock Company	Fully consolidated	Ukraine, Kiev	100.0	100.0
UNIQA neživotno osiguranje a.d.	Fully consolidated	Serbia, Belgrade	100.0	100.0
UNIQA neživotno osiguranje a.d.	Fully consolidated	Montenegro, Podgorica	100.0	100.0
UNIQA osiguranje d.d.	Fully consolidated	Croatia, Zagreb	100.0	100.0
UNIQA osiguranje d.d.	Fully consolidated	Bosnia and Herzegovina, Sarajevo	100.0	100.0
UNIQA poisťovňa a.s.	Fully consolidated	Slovakia, Bratislava	100.0	99.9
UNIQA pojišťovna, a.s.	Fully consolidated	Czech Republic, Prague	100.0	100.0
UNIQA Re AG	Fully consolidated	Switzerland, Zurich	100.0	100.0
UNIQA Towarzystwo Ubezpieczeń na Życie S.A.	Fully consolidated	Poland, Lodz	99.8	99.8
UNIQA Towarzystwo Ubezpieczeń S.A.	Fully consolidated	Poland, Lodz	98.6	98.6
UNIQA Versicherung AG	Fully consolidated	Liechtenstein, Vaduz	100.0	100.0
UNIQA životno osiguranje a.d.	Fully consolidated	Serbia, Belgrade	100.0	100.0
UNIQA životno osiguranje a.d.	Fully consolidated	Montenegro, Podgorica	100.0	100.0

Group domestic service companies
Agenta Risiko- und Finanzierungsberatung Gesellschaft m.b.H.	Fully consolidated	Vienna	100.0	100.0
Assistance Beteiligungs-GesmbH	Fully consolidated	Vienna	64.0	64.0
call us Assistance International GmbH	Fully consolidated	Vienna	50.2	50.2
UNIQA 5 Star GmbH (Initial consolidation: 1/10/2020)	Fully consolidated	Vienna	100.0	0.0
UNIQA Capital Markets GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA International AG (Merger: 1/1/2020)	Fully consolidated	Vienna	0.0	100.0
UNIQA IT Services GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real Estate Finanzierungs GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real Estate Management GmbH	Fully consolidated	Vienna	100.0	100.0
Valida Holding AG	Equity method	Vienna	40.1	40.1
Versicherungsmarkt-Servicegesellschaft m.b.H.	Fully consolidated	Vienna	100.0	100.0

Group foreign service companies
UNIQA investiční společnost, a.s. (Initial consolidation: 15/10/2020; formerly: AXA investiční společnost a.s.)	Fully consolidated	Czech Republic, Prague	100.0	0.0
UNIQA Management Services, s.r.o. (Initial consolidation: 15/10/2020; formerly: AXA Management Services s.r.o.)	Fully consolidated	Czech Republic, Prague	100.0	0.0
AXA Polska S.A. (Initial consolidation: 15/10/2020)	Fully consolidated	Poland, Warsaw	100.0	0.0
DEKRA-Expert Műszaki Szakértői Kft.	Equity method	Hungary, Budapest	50.0	50.0
sTech d.o.o.	Fully consolidated	Serbia, Belgrade	100.0	100.0
UNIQA GlobalCare SA	Fully consolidated	Switzerland, Geneva	100.0	100.0
UNIQA Group Service Center Slovakia, spol. s r.o.	Fully consolidated	Slovakia, Nitra	100.0	100.0
UNIQA Ingatlanhasznosító Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
UNIQA InsService spol. s r.o.	Fully consolidated	Slovakia, Bratislava	100.0	99.9
UNIQA Raiffeisen Software Service Kft.	Fully consolidated	Hungary, Budapest	60.0	60.0
UNIQA Raiffeisen Software Service S.R.L.	Fully consolidated	Romania, Cluj-Napoca	100.0	60.0
UNIQA Számítástechnikai Szolgáltató Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Vitosha Auto OOD	Fully consolidated	Bulgaria, Sofia	99.9	99.9

Financial and strategic domestic shareholdings
Diakonissen & Wehrle Privatklinik GmbH	Fully consolidated	Gallneukirchen	92.6	90.0
Goldenes Kreuz Privatklinik BetriebsGmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed Ambulatorien GmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed Beteiligungs GmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed Holding GmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed Management Services GmbH (Merger: 1/7/2020)	Fully consolidated	Vienna	0.0	100.0
PremiQaMed Privatkliniken GmbH	Fully consolidated	Vienna	100.0	100.0
STRABAG SE	Equity method	Villach	14.3	14.3
UNIQA Beteiligungs-Holding GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Erwerb von Beteiligungen Gesellschaft m.b.H.	Fully consolidated	Vienna	100.0	100.0
UNIQA Leasing GmbH	Equity method	Vienna	25.0	25.0
UNIQA Ventures GmbH (Initial consolidation: 1/1/2020)	Fully consolidated	Vienna	100.0	0.0

Real estate companies
“Hotel am Bahnhof” Errichtungs GmbH & Co KG	Fully consolidated	Vienna	100.0	100.0
Asena LLC	Fully consolidated	Ukraine, Kiev	100.0	100.0
AVE-PLAZA LLC	Fully consolidated	Ukraine, Kharkiv	100.0	100.0
Black Sea Investment Capital LLC	Fully consolidated	Ukraine, Kiev	100.0	100.0
Design Tower GmbH	Fully consolidated	Vienna	100.0	100.0
DIANA-BAD Errichtungs- und Betriebs GmbH	Equity method	Vienna	33.0	33.0
EZL Entwicklung Zone Lassallestraße GmbH & Co. KG	Fully consolidated	Vienna	100.0	100.0
Floreasca Tower SRL	Fully consolidated	Romania, Bucharest	100.0	100.0
Hotel Burgenland Betriebs GmbH	Fully consolidated	Vienna	100.0	100.0
IPM International Property Management Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Knesebeckstraße 8-9 Grundstücksgesellschaft mbH	Fully consolidated	Germany, Berlin	100.0	100.0
Praterstraße Eins Hotelbetriebs GmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed Immobilien GmbH	Fully consolidated	Vienna	100.0	100.0
Pretium Ingatlan Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Renaissance Plaza d.o.o.	Fully consolidated	Serbia, Belgrade	100.0	100.0
Reytarske LLC	Fully consolidated	Ukraine, Kiev	100.0	100.0
R-FMZ Immobilienholding GmbH	Fully consolidated	Vienna	100.0	100.0
Software Park Kraków Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA Immobilien-Projekterrichtungs GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Linzer Straße 104 GmbH & Co KG	Fully consolidated	Vienna	100.0	100.0
UNIQA Plaza Irodaház és Ingatlankezelő Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
UNIQA poslovni centar korzo d.o.o.	Fully consolidated	Croatia, Rijeka	100.0	100.0
UNIQA Real Estate Bulgaria EOOD	Fully consolidated	Bulgaria, Sofia	100.0	100.0
UNIQA Real Estate BV	Fully consolidated	Netherlands, Hoofddorp	100.0	100.0
UNIQA Real Estate CZ, s.r.o.	Fully consolidated	Czech Republic, Prague	100.0	100.0
UNIQA Real Estate d.o.o. (Merger: 22/12/2020)	Fully consolidated	Serbia, Belgrade	0.0	100.0
UNIQA Real Estate GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real Estate Inlandsholding GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real Estate Polska Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA Real Estate Property Holding GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real III, spol. s r.o.	Fully consolidated	Slovakia, Bratislava	100.0	100.0
UNIQA Real s.r.o.	Fully consolidated	Slovakia, Bratislava	100.0	100.0
UNIQA Retail Property GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Szolgáltató Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
UNIQA-Invest Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Zablocie Park Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0
City One Park Sp. z o.o. (Formerly: Dabrine Investments Sp. z o.o.)	Fully consolidated	Poland, Warsaw	100.0	0.0
Treimorfa Project Sp. z o.o. (Initial consolidation: 1.4.2020)	Fully consolidated	Poland, Krakow	85.0	0.0
Treimorfa Hotel Sp. z o.o.	Fully consolidated	Poland, Krakow	85.0	0.0

Pension and investment funds
UNIQA d.d.s., a.s. (Initial consolidation: 15/10/2020; formerly: AXA d.d.s., a.s.)	Fully consolidated	Slovakia, Bratislava	100.0	0.0
UNIQA d.s.s., a.s. (Initial consolidation: 15/10/2020; formerly: AXA d.s.s., a.s.)	Fully consolidated	Slovakia, Bratislava	100.0	0.0
UNIQA penzijní společnost, a.s. (Initial consolidation: 15/10/2020; formerly: AXA penzijní společnost a.s.)	Fully consolidated	Slovakia, Brno	100.0	0.0
AXA Powszechne Towarzystwo Emerytalne S.A. (Initial consolidation: 15 October 2020)	Fully consolidated	Poland, Warsaw	100.0	0.0
AXA Towarzystwo Funduszy Inwestycyjnych S.A. (Initial consolidation: 15 October 2020)	Fully consolidated	Poland, Warsaw	100.0	0.0
SSG Valluga Fund	Fully consolidated	Ireland, Dublin	100.0	100.0
UNIQA Corporate Bond	Fully consolidated	Vienna	100.0	100.0
UNIQA Diversified Bond Fund (Deconsolidation: 19/10/2020)	Fully consolidated	Vienna	0.0	100.0
UNIQA Eastern European Debt Fund	Fully consolidated	Vienna	100.0	100.0
UNIQA Emerging Markets Debt Fund	Fully consolidated	Vienna	100.0	100.0
UNIQA Euro Government Bond Fund	Fully consolidated	Vienna	99.7	99.7
UNIQA World Selection	Fully consolidated	Vienna	100.0	100.0

IFRSs

International Financial Reporting Standards. Since 2002 the term IFRSs has applied to the overall concept of standards adopted by the International Accounting Standards Board. Standards already adopted beforehand continue to be referred to as International Accounting Standards (IASs).

Equity method

Investment in associates is accounted for using this method. The value carried corresponds to 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 measurement, this value must be updated to incorporate proportional changes in equity with the share of net income/(loss) being allocated to consolidated profit/(loss).

Equity method