UNIQA Group

With a premium volume written including savings portions from unit-linked and index-linked life insurance of € 7,839.7 million, the UNIQA Group is among the leading insurance groups in Central and Eastern Europe.

UNIQA in Europe

UNIQA offers its products and services via all distribution channels (hired sales force, general agencies, brokers, banks and direct sales) and covers virtually the entire range of insurance lines. UNIQA is the second largest insurance group in Austria. In the growth region of Central and Eastern Europe, UNIQA has a presence in 14 countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia and Ukraine. In addition, insurance companies in Switzerland and Liechtenstein are also part of the UNIQA Group.

The listed holding company UNIQA Insurance Group AG manages the Group and also operates the indirect insurance business concluded as active reinsurance with another insurance company. Moreover, UNIQA Insurance Group AG carries out numerous service functions for UNIQA Österreich Versicherungen AG and its international Group companies, in order to take best advantage of synergy effects and to implement the Group’s long-term corporate strategy consistently.

Property casualty insurance

The property and casualty insurance line includes property insurance for private individuals and companies, as well as private casualty insurance. The UNIQA Group received premiums written in property and casualty insurance in the amount of € 4,678.3 million in 2024 (2023: € 4,214.3 million) – which is 59.7 per cent (2023: 58.7 per cent) of total premium volume. The largest share by far in the volume of property and casualty insurance comes from private consumer business. Most property and casualty insurance policies are taken out for a limited term of up to three years. A broad spread across the different risks of a great many customers and the relatively short terms of these contracts lead toonly moderate capital requirements and also make this business segment attractive as a result.

Health insurance

Health insurance in Austria includes voluntary health insurance for private customers, commercial preventive healthcare and opt-out offers for certain independent professions such as lawyers, architects and chemists. Although health insurance is still at the early stages in CEE, increased levels of prosperity in the region make the long-term growth potential even greater. Group-wide, premiums written totalled € 1,526.5 million in 2024, (2023: € 1,388.1 million) – which is 19.5 per cent (2023: 19.3 per cent) of total premium volume. UNIQA is the undisputed market leader in this strategically important business line in Austria, with around 44 per cent of market share. The overwhelming majority comes from Austria with around 91 per cent of premiums, with the remaining 9 per cent from international business.

Life insurance

Life insurance covers economic risks that stem from the uncertainty as to how long a customer will live. It includes savings products such as classic and unit-linked life insurance. There are also biometric products which hedge against risks such as occupational disability, long-term care needs or death. The life insurance business model is structured towards the long term. The average term is 25 years. In life insurance, UNIQA reached a premium volume (including savings portions from unit-linked and index-linked life insurance) of € 1,634.9 million Group-wide in 2024 (2023:€ 1,583.3 million) – which is 20.9 per cent (2023: 22.0 per cent) of total premium volume.

Companies included in the IFRS consolidated financial statements

In addition to the annual financial statements of UNIQA Insurance Group AG, the consolidated financial statements include the financial statements of all subsidiaries in Austria and abroad as well as those of the investment funds under the Group’s control. The basis of consolidation – including UNIQA Insurance Group AG – comprised 34 Austrian (2023: 32) and 61 international (2023: 61) subsidiaries as well as 4 Austrian (2023: 4) and 9 international (2023: 9) controlled pension and investment funds. The associates are 4 Austrian companies (2023: 4) that were included in the consolidated financial statements using the equity method of accounting.

Details on the consolidated companies and associates are contained in the corresponding overviews in the consolidated financial statements. The accounting and measurement methods are also described in the consolidated financial statements.

Risk reporting

UNIQA’s comprehensive risk report is included in the notes to the 2024 Consolidated Financial Statements.

Corporate Governance Report

Since 2004, UNIQA has pledged to comply with the Austrian Code of Corporate Governance. UNIQA publishes its consolidated Corporate Governance Report at www.uniqagroup.com in the Investor Relations section.

Discontinued operations

In accordance with the provisions of IFRS 5, all values attributable to the Russian business were recognised in the consolidated income statement (including the comparative period) in the profit/(loss) from discontinued operations (after tax).

Corporate governance

Corporate governance refers to the legal and factual framework for managing and monitoring companies. Corporate governance regulations serve to ensure transparency and thereby boost confidence in responsible company management and controls based around added value.

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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).