Operating segments – classified by business line

Property and casualty insurance
In € thousand	UNIQA Austria		UNIQA International		Reinsurance		Group functions		Consolidation		Group
In € thousand	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted
Premiums written (gross)	1,796,102	1,760,672	1,192,585	1,076,924	1,125,744	1,089,855	0	0	–1,104,104	–1,080,668	3,010,327	2,846,783

Premiums earned (net)	1,066,070	1,049,839	702,548	614,061	1,039,922	1,012,808	0	0	414	1,729	2,808,954	2,678,436
Technical interest income	0	0	789	1,590	0	0	0	0	0	0	789	1,590
Other insurance income	2,923	2,459	7,529	16,889	7,581	199	13,253	299	–2,450	–3,403	28,836	16,443
Insurance benefits	–698,649	–688,258	–386,161	–347,571	–687,026	–684,346	153	99	–3,436	609	–1,775,119	–1,719,467
Operating expenses	–353,673	–297,358	–269,392	–235,704	–309,509	–302,111	–42,022	–25,539	3,872	–530	–970,724	–861,241
Other technical expenses	–7,612	–8,297	–36,442	–36,631	–11,748	–12,197	–868	920	11,618	12,317	–45,053	–43,889
Technical result	9,059	58,384	18,871	12,634	39,220	14,353	–29,485	–24,220	10,017	10,722	47,683	71,872

Net investment income	–196,135	33,744	34,234	25,306	1,651	23,203	40,683	321,995	149,113	–282,171	29,547	122,077
Income from investments	84,348	73,677	48,615	33,641	32,331	36,916	182,732	388,007	–127,167	–298,470	220,859	233,770
Expenses from investments	–280,686	–40,226	–14,637	–8,504	–30,680	–13,713	–141,175	–68,438	265,340	11,587	–201,837	–119,295
Financial assets accounted for using the equity method	203	293	256	169	0	0	–874	2,426	10,940	4,712	10,525	7,601
Other income	1,355	679	18,302	5,209	18,011	2,521	8,537	12,093	481	–1,894	46,685	18,607
Reclassification of technical interest income	0	0	–789	–1,590	0	0	0	0	0	0	–789	–1,590
Other expenses	–8,344	–9,678	–15,503	–10,681	–929	–5,452	–11,066	–13,616	–2,676	1,208	–38,518	–38,219
Non-technical result	–203,124	24,745	36,245	18,244	18,733	20,272	38,153	320,471	146,918	–282,857	36,925	100,875

Operating profit/(loss)	–194,065	83,129	55,116	30,878	57,953	34,624	8,669	296,251	156,935	–272,136	84,607	172,747
Amortisation of VBI and impairment of goodwill	0	0	–87,947	–57,001	0	0	0	0	–82	0	–88,029	–57,001
Finance cost	–3,220	0	–4,374	–4,352	–2,901	–2,901	–67,437	–59,239	13,414	12,142	–64,519	–54,349
Earnings before taxes	–197,285	83,129	–37,205	–30,475	55,052	31,724	–58,769	237,012	170,266	–259,994	–67,941	61,397

Reinsurance

An insurance company insures part of its risk via another insurance company.

Gross (premiums written)

The gross (premiums written) includes details on the items in the balance sheet and the income statement, excluding the proportion from reinsurance.

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.

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).