Group Report 2023

Independent Limited Assurance Report on the (Consolidated) Non-financial Report as at 31 December 2023

We performed a limited assurance engagement of the (consolidated) non-financial report pursuant to section 267a UGB (Austrian Company Code) (hereinafter the “consolidated non-financial report”) of UNIQA Insurance Group AG, Vienna, (the “Company”) for the financial year 2023.

Conclusion

Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the Company’s (consolidated) non-financial report as at 31 December 2023 is not prepared, in all material aspects, in accordance with the requirements of section 267a UGB and Article 8 of the Regulation (EU) 2020/852 (“EU Taxonomy Regulation”) and the Delegated Acts adopted in this regard.

Emphasis of matter – Uncertainties regarding the interpretation of the Delegated Acts adopted with regard to Article 8 of the EU Taxonomy Regulation

We refer to the information provided by management in the section “Disclosures in accordance with the EU Taxonomy Regulation” of the (consolidated) non-financial report. This section describes that the EU Taxonomy Regulation and the Delegated Acts adopted in this regard contain wordings and definitions that are still subject to considerable interpretation uncertainties. Management describes how they have made the necessary interpretation of the EU Taxonomy Regulation and the Delegated Acts adopted in this regard. Due to the inherent risk that undefined legal terms can be interpreted differently, the legal conformity of the interpretation is subject to uncertainty. Our audit opinion is not modified in respect of this matter.

Responsibility of Management and the Supervisory Board

Management is responsible for the preparation of the (consolidated) non-financial report in accordance with the requirements of section 267a UGB and the EU Taxonomy Regulation and the Delegated Acts adopted in this regard.

Management’s responsibility includes the selection and application of appropriate methods to prepare the (consolidated) non-financial reporting (in particular the selection of key issues) as well as making assumptions and estimates related to individual sustainability disclosures which are reasonable in the circumstances. This responsibility also includes the interpretation of the wordings and definitions contained in the EU Taxonomy Regulation and the Delegated Acts adopted in this regard, and management is responsible for such internal control as it determines is necessary to enable the preparation of a (consolidated) non-financial report that is free from material misstatement, whether due to fraud or error.

The Supervisory Board is responsible for examining the (consolidated) non-financial report.

Auditor’s Responsibility

Our responsibility is to express a limited assurance conclusion based on our procedures performed and evidence obtained as to whether anything has come to our attention that causes us to believe that the (consolidated) non-financial report as at 31 December 2023 is not prepared, in all material aspects, in accordance with section 267a UGB and Article 8 of the Regulation (EU) 2020/852 (“EU Taxonomy Regulation”) and the Delegated Acts adopted in this regard.

We performed our engagement in accordance with the professional standards applicable in Austria with regard to KFS/PG 13 “Other assurance engagements” as well as the International Standards on Assurance Engagements (ISAE) 3000 (Revised) “Assurance engagements other than audits or reviews of historical financial information”. These standards require that we comply with our ethical requirements, including rules on independence, and that we plan and perform our procedures by considering the principle of materiality to be able to express a limited assurance conclusion based on the assurance obtained.

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement; consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

The selection of the procedures lies in the sole discretion of the auditor and comprised, in particular, the following:

  • Interviewing the relevant employees responsible for the analysis of materiality considering the concerns of external stakeholders to update the understanding of the procedure for identifying material sustainability matters
  • Assessment of risks regarding the essential non-financial matters/disclosures
  • Updating the overview of the policies pursued by the Company, including due diligence processes implemented with regard to environmental, social and labour matters, respect for human rights and the fight against corruption and bribery
  • Updating the understanding of reporting processes by interviewing the relevant employees and inspecting selected documentations
  • Evaluating the reported disclosures by performing analytical procedures regarding non-financial performance indicators, interviewing relevant employees and inspecting selected documentations
  • Assessment of the process for identifying investments qualifying as Taxonomy-eligible and Taxonomy-aligned and activities qualifying as Taxonomy-eligible and Taxonomy-aligned in the underwriting business and the corresponding disclosures in the non-financial reporting by interviewing the relevant employees and inspecting selected internal documentation to assess whether the requirements of the EU Taxonomy Regulation have been adequately addressed
  • Evaluating the presentation and completeness of the disclosures and non-financial information pursuant to section 267a UGB and the EU Taxonomy Regulation

The following was not part of our engagement:

  • Examining the prior-year figures, forward-looking information or data from external surveys
  • Examining the correct transfer of data and references from the (consolidated) financial statements to the non-financial reporting; and
  • Examining the information and disclosures on the website or further references on the internet

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.

Neither an audit nor a review of financial statements is objective of our engagement. Furthermore, neither the disclosure and solution of fraud, such as e.g., embezzlement or other kinds of fraudulent acts and wrongful doings, nor the assessment of the effectiveness and profitability of the management are objectives of our engagement.

Restriction of Use

Because our report is prepared solely for and on behalf of the client, it does not constitute a basis for any reliance on its contents by other third parties. Therefore, no claims of other third parties can be derived from it. We consent to the publication of our report together with the (consolidated) non-financial report. However, the publication may only take place in the complete version certified by us.

General Conditions of Contract

Our report is issued based on the engagement agreed upon with you and is governed by the General Conditions of Contract for the Public Accounting Professions (AAB 2018) enclosed to this report, which also apply towards third parties.

Vienna
15 March 2024

PwC Wirtschaftsprüfung GmbH

Werner Stockreiter
Austrian Certified Public Accountant

signed