12.8. Basis of consolidation
Initial consolidation
The initial consolidation took place in the second quarter of 2024 for OPERATOR MEDYCZNY CENTRUM Sp. z o.o. (Poland, Warsaw). In the third quarter of 2024, the initial consolidation took place for Mavie Next GmbH (Vienna) and the fourth quarter saw initial consolidation for Mavie Work GmbH (Vienna).
Restructuring processes
In the third quarter of 2024, R-FMZ Immobilien Holding GmbH (Vienna) was deconsolidated due to the contribution to UNIQA Sustainable Business Solutions GmbH (formerly: UNIQA Retail Property GmbH (Vienna)) with retroactive effect to 31 December 2023.
Acquisition
In the third quarter of 2024, 100 per cent of the shares in Wronia 31 GmbH (Vienna) were acquired. The purchase price is almost equal to the share capital acquired.
Business combination
UNIQA acquired 50.1 per cent of the shares in Mavie Work Deutschland GmbH (formerly wellabe GmbH) (Germany, Munich) on 2 August 2024. Together with the 5.94 per cent already held and the capital increase carried out in the course of the acquisition, UNIQA now holds 63.63 per cent of the capital shares. Option agreements for the acquisition of the remaining 36.37 per cent were entered into with the remaining shareholders with an exercise period of 2 or 3 years, after which the capital shares can be acquired in accordance with an agreed purchase price formula. However, the structure of these leads to 100 per cent inclusion in the consolidated financial statements and no non-controlling interests are to be recognised. The different structure for the option agreements means that part of the resulting future payments must be treated as a purchase price component and part is recognised as a current expense in the exercise period. The company is recognised in the “Group functions” segment and in the health insurance business line.
Revenue of €407 thousand and a negative contribution to earnings of around €1,014 thousand are recognised in the consolidated financial statements from the acquisition. If the acquisition had been effective as of 1 January 2024, the profit/(loss) for the period (the share attributable to the shareholders of UNIQA Insurance Group AG) would amount to around €345,975 thousand and earnings per share would remain unchanged due to the low earnings contribution. If the acquisition had been effective as of 1 January 2024, other non-technical income would have increased by €758 thousand.
In € thousand |
|
Property, plant and equipment |
250 |
|---|---|
Intangible assets |
4,422 |
Receivables and other assets |
273 |
Deferred tax assets |
1,388 |
Cash |
23 |
Total assets |
6,356 |
Liabilities and other items classified as liabilities |
417 |
Deferred tax liabilities |
1,388 |
Total liabilities |
1,806 |
Net identifiable assets acquired |
4,550 |
In € thousand |
|
Price Paid |
5,323 |
|---|---|
plus the shares held before the acquisition |
364 |
less the fair value of the identifiable net assets acquired |
–4,550 |
Preliminary differential amount |
1,136 |
In € thousand |
|
Contractually agreed purchase price |
5,323 |
|---|---|
of which transfer of cash and cash equivalents |
1,600 |
of which contingent purchase price |
3,723 |
Price Paid |
5,323 |
Acquired bank balances |
–23 |
Consideration transferred less acquired bank balances |
5,300 |
Deconsolidation
In the third quarter of 2024, UNIQA Pénzügyi és Szolgáltató Kft. (Hungary, Budapest) was deconsolidated. The Limited Liability Insurance Company “Raiffeisen Life” (Russia, Moscow) was deconsolidated in the fourth quarter of 2024 (see the Chapter “Assets and liabilities held for sale and discontinued operations”).
Type of consolidation |
Location |
Consolidated share as at 31 December 2024 data in per cent |
Consolidated share as at 31 December 2023 data 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” (deconsolidation: 4/10/2024) |
Fully consolidated |
Russia, Moscow |
0.0 |
75.0 |
SIGAL LIFE UNIQA Group AUSTRIA sh.a |
Fully consolidated |
Kosovo, Pristina |
90.0 |
86.9 |
SIGAL LIFE UNIQA Group AUSTRIA sh.a. |
Fully consolidated |
Albania, Tirana |
90.0 |
86.9 |
SIGAL UNIQA Group AUSTRIA sh.a. |
Fully consolidated |
Albania, Tirana |
90.0 |
86.9 |
SIGAL UNIQA Group AUSTRIA sh.a. |
Fully consolidated |
Kosovo, Pristina |
90.0 |
86.9 |
UNIQA AD Skopje |
Fully consolidated |
North Macedonia, Skopje |
90.0 |
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 |
90.0 |
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 Ubezpieczeń na Życie S.A. |
Fully consolidated |
Poland, Warsaw |
100.0 |
100.0 |
UNIQA Towarzystwo Ubezpieczeń 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 |
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 |
Mavie Next GmbH (Initial consolidation: 01/07/2024) |
Fully consolidated |
Vienna |
100.0 |
0.0 |
Mavie Work GmbH (initial consolidation: 01/10/2024) |
Fully consolidated |
Vienna |
100.0 |
0.0 |
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 |
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 |
UNIQA Sustainable Business Solutions GmbH (formerly: UNIQA Retail Property 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 |
Mavie Work Deutschland GmbH (formerly: wellabe GmbH: initial consolidation 01/07/2024) |
Fully consolidated |
Germany, Munich |
100.0 |
0.0 |
OPERATOR MEDYCZNY CENTRUM Sp. z o.o. (deconsolidation: 9/4/2024) |
Fully consolidated |
Poland, Warsaw |
100.0 |
0.0 |
Przychodnia24 sp. z o.o. |
Fully consolidated |
Poland, Warsaw |
100.0 |
100.0 |
SEE Digital d.o.o. |
Fully consolidated |
Serbia, Belgrade |
100.0 |
100.0 |
Telemedi Sp. z o.o. |
Fully consolidated |
Poland, Warsaw |
100.0 |
100.0 |
Telmedicin sp. z o.o |
Fully consolidated |
Poland, Warsaw |
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 Pénzügyi és Szolgáltató Kft. (Deconsolidation 30/09/2024) |
Fully consolidated |
Hungary, Budapest |
0.0 |
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 |
|
|
|
|
|
Financial and strategic domestic shareholdings |
|
|
|
|
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 |
17.0 |
15.7 |
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 |
Fully consolidated |
Vienna |
100.0 |
100.0 |
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 |
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 (Merger: 31/12/2023) |
Fully consolidated |
Vienna |
0.0 |
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 Szolgáltató Kft. |
Fully consolidated |
Hungary, Budapest |
100.0 |
100.0 |
UNIQA-Invest Kft. |
Fully consolidated |
Hungary, Budapest |
100.0 |
100.0 |
Wronia 31 GmbH (Initial consolidation: 30/09/2024) |
Fully consolidated |
Vienna |
100.0 |
0.0 |
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 |
87.9 |
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 |
99.3 |
100.0 |
UNIQA penzijní společnost, a.s. |
Fully consolidated |
Czechia, Prague |
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 |
98.0 |
100.0 |