Group Financial Statements

Consolidated Income Statement
from 1 January until 31 December 2020

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In € thousand

Notes

1–12/2020

1–12/2019 adjusted

(net)

8

 

 

Gross

 

5,231,531

5,034,721

Reinsurers’ share

 

–201,992

–173,651

 

 

5,029,539

4,861,071

Technical interest income

 

322,125

331,238

Other insurance income

 

 

 

Gross

 

41,302

21,438

Reinsurers’ share

 

368

75

 

 

41,669

21,514

9

 

 

Gross

 

–3,819,752

–3,765,286

Reinsurers’ share

 

125,174

99,186

 

 

–3,694,579

–3,666,100

10

 

 

Expenses for the acquisition of insurance

 

–953,377

–925,258

Other operating expenses

 

–631,546

–499,741

commission and share of profit from reinsurance ceded

 

18,524

17,883

 

 

–1,566,399

–1,407,116

Other technical expenses

 

 

 

Gross

 

–49,830

–46,360

Reinsurers’ share

 

–4,232

–3,742

 

 

–54,061

–50,102

Technical result

 

78,295

90,504

 

 

 

 

Net investment income

5

 

 

Income from investments

 

773,686

768,959

Expenses from investments

 

–333,965

–248,143

Financial assets accounted for using the

 

65,689

64,428

 

 

505,409

585,244

Other income

27

216,548

192,359

Reclassification of technical interest income

 

–322,125

–331,238

Other expenses

28

–230,497

–191,019

Non-technical result

 

169,335

255,346

 

 

 

 

Operating profit/(loss)

 

247,631

345,850

Amortisation of VBI and impairment of goodwill

 

–125,817

–59,162

Finance cost

 

–64,758

–54,643

Earnings before taxes

 

57,056

232,045

Income taxes

15

–32,775

–56,953

Profit/(loss) for the period

 

24,281

175,092

of which attributable to shareholders of UNIQA Insurance Group AG

 

19,405

170,957

of which attributable to

 

4,876

4,135

 

 

 

 

Earnings per share (in €)1)

 

0.06

0.56

Average number of shares in circulation

 

306,965,261

306,965,261

1)

Diluted earnings per share equate to undiluted earnings per share. This is calculated on the basis of the consolidated profit/(loss).
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.
Reinsurance
An insurance company insures part of its risk via another insurance company.
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).
Non-controlling interests
Shares in the profit/(loss) that are not attributable to the Group but rather to companies outside the Group that hold shares in affiliated companies.