32. Basis of consolidation

Initial consolidation

UNIQA Real Estate Beteiligungsverwaltung International GmbH (Vienna) was included in the consolidated financial statements for the first time in the second quarter of 2023 and DOROS Immobilien GmbH (Vienna) in the fourth quarter.

Restructuring processes

In the third quarter, PremiaFIT GmbH (Vienna) was split and incorporated into PremiQaMed Holding GmbH (Vienna) and PremiQaMed Immobilien GmbH (Vienna).

Acquisitions

On 30 November 2023, UNIQA acquired 65.4 per cent of the shares in Telemedi Sp. z o.o. (Poland, Warsaw) and 100 per cent of the capital shares in each of its subsidiaries Telemedicin Sp. z o.o. (Poland, Warsaw), Przychodnia24 sp. z o.o. (Poland, Warsaw) and Telemedico Spain SL (Spain, Madrid) (referred to jointly as the “Telemedi Group” below). Together with the 10.4 per cent already held, UNIQA now holds 75.8 per cent of the capital shares. An “option agreement” was concluded with the minority shareholder for the acquisition of the remaining 24.2 per cent with an exercise period of two or three years, according to which the capital shares can be acquired in accordance with an agreed purchase price formula. However, the structure of this means that for the purposes of consolidated accounting in accordance with IAS/IFRS provisions, the Group is already included 100 per cent and no minority interests need to be reported. Future payments resulting from the option agreement are recognised as current expenses in the exercise period in accordance with IAS/IFRS provisions – as 100% have already been recognised in the consolidated financial statements.

The Telemedi Group constitutes a business operation within the meaning of IFRS 3. The companies were acquired in order to expand the portfolio in the healthcare sector. The companies are recognised in the “Group functions” segment and in the health insurance business line.

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Assets and liabilities from business combinations at acquisition date
In € thousand
Property, plant and equipment	2
Intangible assets	16,972
Investments	3
Receivables and other assets	1,890
Cash	2,794
Total assets	21,661
Liabilities and other items classified as liabilities	1,249
Deferred tax liabilities	3,143
Total liabilities	4,392
Net identifiable assets acquired	17,268

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Preliminary differential amount
In € thousand
Transferred of consideration	27,376
Net identifiable assets acquired at fair value	17,268
Preliminary differential amount	10,108

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Consideration transferred

In € thousand

Contractually agreed purchase price

27,376

Price paid¹⁾

27,376

Acquired bank balances

–2,794

Consideration transferred less acquired bank balances

24,583

1)	The acquisition price was settled in full through the transfer of cash.

No revenue or earnings were contributed to UNIQA’s profit/(loss) for the period in the 2023 financial year. If the acquisition had already taken place on 1 January 2023, profit/(loss) for the period (the share attributable to the shareholders of UNIQA Insurance Group AG) would amount to around € 304,252 thousand and earnings per share would remain unchanged due to the low earnings contribution. Other non-technical income would amount to € 447,591 thousand if the acquisition had already taken place on 1 January 2023 due to the revenue contribution of the Telemedi Group.

Deconsolidation

Vitosha Auto OOD (Bulgaria, Sofia) was deconsolidated in the fourth quarter of 2023.

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Company
	Type of consolidation	Location	Equity interest at 31/12/2023 in per cent	Equity interest at 31/12/2022 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

Foreign insurance companies
Limited Liability Company “Insurance Company “Raiffeisen Life”	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, Kyiv	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, Kyiv	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 pojišťovna, a.s.	Fully consolidated	Czechia, Prague	100.0	100.0
UNIQA Re AG	Fully consolidated	Switzerland, Zurich	100.0	100.0
UNIQA Towarzystwo Ubezpieczen´ na Życie S.A.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA Towarzystwo Ubezpieczen´ S.A.	Fully consolidated	Poland, Warsaw	99.7	99.7
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
Ecosyslab GmbH (formerly: Assistance Beteiligungs-GesmbH)	Fully consolidated	Vienna	100.0	100.0
call us Assistance International GmbH	Fully consolidated	Vienna	100.0	100.0
Mavie Holding GmbH	Fully consolidated	Vienna	100.0	100.0
Real Versicherungsvermittlung GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Capital Markets GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA IT Services GmbH	Fully consolidated	Vienna	100.0	100.0
UNIQA Real Estate Beteiligungsverwaltung International GmbH (initial consolidation: 30/6/2023)	Fully consolidated	Vienna	100.0	0.0
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
CherryHUB BSC Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Przychodnia24 sp. z o.o. (initial consolidation: 31/12/2023)	Fully consolidated	Poland, Warsaw	100.0	0.0
SEE Digital d.o.o. (formerly: sTech d.o.o.)	Fully consolidated	Serbia, Belgrade	100.0	100.0
Telemedi Sp. z o.o. (initial consolidation: 31/12/2023)	Fully consolidated	Poland, Warsaw	100.0	0.0
Telmedicin sp. z o.o (initial consolidation: 31/12/2023)	Fully consolidated	Poland, Warsaw	100.0	0.0
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 Pénzügyi és Szolgáltató Kft. (formerly: UNIQA Ingatlanhasznosító Kft.)	Fully consolidated	Hungary, Budapest	100.0	100.0
UNIQA investiční společnost, a.s.	Fully consolidated	Czechia, Prague	100.0	100.0
UNIQA Management Services, s.r.o.	Fully consolidated	Czechia, Prague	100.0	100.0
UNIQA Polska S.A.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA Raiffeisen Software Service Kft.	Fully consolidated	Hungary, Budapest	60.0	60.0
UNIQA Software Service S.R.L.	Fully consolidated	Romania, Cluj-Napoca	100.0	100.0
Vitosha Auto OOD (deconsolidation: 1/10/2023)	Fully consolidated	Bulgaria, Sofia	0.0	99.9

Financial and strategic domestic shareholdings
PremiaFIT GmbH (division: 1/7/2023)	Fully consolidated	Vienna	0.0	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 Privatkliniken GmbH	Fully consolidated	Vienna	100.0	100.0
Speedinvest Co-Invest UVG GmbH & Co KG	Fully consolidated	Vienna	100.0	100.0
STRABAG SE	Equity method	Villach	15.7	15.3
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	Fully consolidated	Vienna	100.0	100.0

Real estate companies
“Hotel am Bahnhof” Errichtungs GmbH & Co KG	Fully consolidated	Vienna	100.0	100.0
Asena LLC	Fully consolidated	Ukraine, Kyiv	100.0	100.0
AVE-PLAZA LLC	Fully consolidated	Ukraine, Kharkiv	100.0	100.0
Black Sea Investment Capital LLC	Fully consolidated	Ukraine, Kyiv	100.0	100.0
City One Park Sp. z o.o.	Fully consolidated	Poland, Warsaw	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
DOROS Immobilien GmbH (initial consolidation: 1/10/2023)	Fully consolidated	Vienna	100.0	0.0
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
IPM International Property Management Kft.	Fully consolidated	Hungary, Budapest	100.0	100.0
Light Investment Cotroceni SRL	Fully consolidated	Romania, Bucharest	100.0	100.0
Maraton Park Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0
Praterstraße Eins Hotelbetriebs GmbH	Fully consolidated	Vienna	100.0	100.0
PremiQaMed IMS GmbH (formerly: 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
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
Treimorfa Hotel Sp. z o.o.	Fully consolidated	Poland, Krakow	92.5	92.5
Treimorfa Project Sp. z o.o.	Fully consolidated	Poland, Krakow	92.5	92.5
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 CZ, s.r.o.	Fully consolidated	Czechia, Prague	100.0	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 B Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0
Zablocie Park Sp. z o.o.	Fully consolidated	Poland, Warsaw	100.0	100.0

Pension and investment funds
SSG Valluga Fund	Fully consolidated	Ireland, Dublin	100.0	100.0
UNIQA Capital Partners S.A. SICAV-RAIF – Infrastructure Equity Select	Fully consolidated	Luxembourg, Munsbach	100.0	100.0
UNIQA Capital Partners S.A. SICAV-RAIF – Private Debt Select	Fully consolidated	Luxembourg, Munsbach	100.0	100.0
UNIQA Capital Partners S.A. SICAV-RAIF – Private Equity Select	Fully consolidated	Luxembourg, Munsbach	100.0	100.0
UNIQA Corporate Bond	Fully consolidated	Vienna	100.0	100.0
UNIQA d.d.s., a.s.	Fully consolidated	Slovakia, Bratislava	100.0	100.0
UNIQA d.s.s., a.s.	Fully consolidated	Slovakia, Bratislava	100.0	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 penzijní společnost, a.s.	Fully consolidated	Czechia, Brno	100.0	100.0
UNIQA Powszechne Towarzystwo Emerytalne S.A.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA Towarzystwo Funduszy Inwestycyjnych S.A.	Fully consolidated	Poland, Warsaw	100.0	100.0
UNIQA World Selection	Fully consolidated	Vienna	100.0	100.0