Segment reporting

Operating segments – classified by business line

Property and casualty insurance
In € thousand	UNIQA Austria		UNIQA International		Reinsurance		Group functions		Consolidation		Group
In € thousand	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted
Premiums written (gross)	1,796,102	1,760,672	1,192,585	1,076,924	1,125,744	1,089,855	0	0	–1,104,104	–1,080,668	3,010,327	2,846,783

Premiums earned (net)	1,066,070	1,049,839	702,548	614,061	1,039,922	1,012,808	0	0	414	1,729	2,808,954	2,678,436
Technical interest income	0	0	789	1,590	0	0	0	0	0	0	789	1,590
Other insurance income	2,923	2,459	7,529	16,889	7,581	199	13,253	299	–2,450	–3,403	28,836	16,443
Insurance benefits	–698,649	–688,258	–386,161	–347,571	–687,026	–684,346	153	99	–3,436	609	–1,775,119	–1,719,467
Operating expenses	–353,673	–297,358	–269,392	–235,704	–309,509	–302,111	–42,022	–25,539	3,872	–530	–970,724	–861,241
Other technical expenses	–7,612	–8,297	–36,442	–36,631	–11,748	–12,197	–868	920	11,618	12,317	–45,053	–43,889
Technical result	9,059	58,384	18,871	12,634	39,220	14,353	–29,485	–24,220	10,017	10,722	47,683	71,872

Net investment income	–196,135	33,744	34,234	25,306	1,651	23,203	40,683	321,995	149,113	–282,171	29,547	122,077
Income from investments	84,348	73,677	48,615	33,641	32,331	36,916	182,732	388,007	–127,167	–298,470	220,859	233,770
Expenses from investments	–280,686	–40,226	–14,637	–8,504	–30,680	–13,713	–141,175	–68,438	265,340	11,587	–201,837	–119,295
Financial assets accounted for using the equity method	203	293	256	169	0	0	–874	2,426	10,940	4,712	10,525	7,601
Other income	1,355	679	18,302	5,209	18,011	2,521	8,537	12,093	481	–1,894	46,685	18,607
Reclassification of technical interest income	0	0	–789	–1,590	0	0	0	0	0	0	–789	–1,590
Other expenses	–8,344	–9,678	–15,503	–10,681	–929	–5,452	–11,066	–13,616	–2,676	1,208	–38,518	–38,219
Non-technical result	–203,124	24,745	36,245	18,244	18,733	20,272	38,153	320,471	146,918	–282,857	36,925	100,875

Operating profit/(loss)	–194,065	83,129	55,116	30,878	57,953	34,624	8,669	296,251	156,935	–272,136	84,607	172,747
Amortisation of VBI and impairment of goodwill	0	0	–87,947	–57,001	0	0	0	0	–82	0	–88,029	–57,001
Finance cost	–3,220	0	–4,374	–4,352	–2,901	–2,901	–67,437	–59,239	13,414	12,142	–64,519	–54,349
Earnings before taxes	–197,285	83,129	–37,205	–30,475	55,052	31,724	–58,769	237,012	170,266	–259,994	–67,941	61,397

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Health insurance
In € thousand	UNIQA Austria		UNIQA International		Reinsurance		Group functions		Consolidation		Group
In € thousand	1–12/2020	1–12/2019 adjusted	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted
Premiums written (gross)	1,089,620	1,056,263	77,936	74,558	6,795	5,747	0	0	–6,796	–5,747	1,167,554	1,130,821

Premiums earned (net)	1,082,685	1,050,575	74,409	66,972	6,420	5,407	0	0	99	73	1,163,614	1,123,027
Technical interest income	88,746	86,386	2	2	0	0	0	0	0	0	88,747	86,388
Other insurance income	1,455	1,212	143	118	0	0	0	0	–1	0	1,597	1,331
Insurance benefits	–916,935	–927,766	–42,177	–38,842	–6,056	–5,962	2,165	3,255	–53	17	–963,056	–969,298
Operating expenses	–176,857	–153,324	–27,362	–21,314	–249	–387	–20,486	–12,773	–12	–14	–224,966	–187,813
Other technical expenses	–227	–429	–433	–515	0	0	390	750	0	52	–270	–143
Technical result	78,867	56,654	4,581	6,421	115	–942	–17,931	–8,769	33	129	65,666	53,493

Net investment income	95,073	101,237	30	352	0	0	28,468	20,029	–19,029	–12,584	104,542	109,034
Income from investments	120,805	124,051	254	663	0	0	83,032	46,352	–42,871	–41,109	161,220	129,957
Expenses from investments	–31,097	–30,564	–224	–310	0	0	–54,564	–26,656	7,901	14,454	–77,985	–43,075
Financial assets accounted for using the equity method	5,365	7,750	0	0	0	0	0	333	15,941	14,070	21,307	22,153
Other income	127	555	3,278	3,146	0	0	168,409	180,931	–27,121	–27,398	144,693	157,234
Reclassification of technical interest income	–88,746	–86,386	–2	–2	0	0	0	0	0	0	–88,747	–86,388
Other expenses	–749	–1,122	–3,415	–2,821	–14	–68	–169,985	–170,992	27,606	27,509	–146,556	–147,494
Non-technical result	5,705	14,284	–110	675	–14	–68	26,893	29,969	–18,543	–12,473	13,931	32,387

Operating profit/(loss)	84,573	70,938	4,471	7,096	102	–1,011	8,962	21,200	–18,510	–12,344	79,597	85,879
Amortisation of VBI and impairment of goodwill	0	0	0	0	0	0	0	0	0	0	0	0
Finance cost	0	–1	0	0	0	0	–65	–44	0	0	–66	–44
Earnings before taxes	84,573	70,938	4,471	7,096	102	–1,011	8,896	21,157	–18,510	–12,344	79,531	85,835

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Life insurance
In € thousand	UNIQA Austria		UNIQA International		Reinsurance		Group functions		Consolidation		Group
In € thousand	1–12/2020	1–12/2019 adjusted	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019	1–12/2020	1–12/2019 adjusted
Premiums written (gross), including savings portions from unit-linked and index-linked life insurance	951,778	983,884	434,921	409,760	30,128	33,576	0	0	–29,363	–32,273	1,387,465	1,394,946
Premiums earned (net), including savings portions from unit-linked and index-linked life insurance	927,921	956,620	423,528	401,599	9,734	11,083	0	0	–89	70	1,361,094	1,369,372
Savings portions from unit-linked and index-linked life insurance (gross)	207,018	211,683	97,104	98,083	0	0	0	0	0	0	304,122	309,766
Savings portions from unit-linked and index-linked life insurance (net)	207,018	211,683	97,104	98,083	0	0	0	0	0	0	304,122	309,766

Premiums written (gross)	744,760	772,201	337,817	311,677	30,128	33,576	0	0	–29,363	–32,273	1,083,343	1,085,180

Premiums earned (net)	720,903	744,938	326,424	303,516	9,734	11,083	0	0	–89	70	1,056,972	1,059,607
Technical interest income	205,504	213,722	27,084	29,538	0	0	0	0	0	0	232,589	243,260
Other insurance income	599	171	18,964	3,569	25	17	35	50	–8,387	–67	11,237	3,740
Insurance benefits	–768,151	–810,312	–179,758	–155,143	–7,523	–10,134	0	0	–972	–1,746	–956,404	–977,335
Operating expenses	–188,817	–185,051	–169,599	–157,862	–1,208	–1,176	–17,541	–10,202	6,457	–3,771	–370,708	–358,062
Other technical expenses	–5,566	–6,146	–5,704	–2,928	–3,053	–3,233	315	675	5,269	5,562	–8,739	–6,071
Technical result	–35,527	–42,678	17,412	20,690	–2,025	–3,444	–17,190	–9,476	2,277	48	–35,053	–34,861

Net investment income	261,862	289,144	71,820	35,929	5,248	6,248	27,050	14,260	5,340	8,553	371,321	354,133
Income from investments	281,036	341,472	83,558	55,433	5,248	6,248	55,306	48,339	–33,542	–46,260	391,606	405,232
Expenses from investments	–26,467	–62,861	–11,738	–19,504	0	0	–29,489	–35,861	13,550	32,454	–54,143	–85,773
Financial assets accounted for using the equity method	7,293	10,534	0	0	0	0	1,233	1,781	25,332	22,359	33,858	34,674
Other income	111	331	24,581	14,980	2	19	3,292	1,247	–2,816	–59	25,171	16,517
Reclassification of technical interest income	–205,504	–213,722	–27,084	–29,538	0	0	0	0	0	0	–232,589	–243,260
Other expenses	–435	–670	–44,875	–1,898	–88	–24	–3,891	–1,950	3,866	–765	–45,423	–5,307
Non-technical result	56,034	75,083	24,442	19,472	5,162	6,242	26,452	13,557	6,390	7,729	118,479	122,084

Operating profit/(loss)	20,507	32,405	41,854	40,162	3,137	2,798	9,261	4,080	8,667	7,777	83,426	87,223
Amortisation of VBI and impairment of goodwill	–1,786	–1,786	–36,000	–375	0	0	0	0	–1	0	–37,787	–2,161
Finance cost	–25,067	–25,101	–155	–391	0	0	–7,926	–7,229	32,975	32,472	–173	–249
Earnings before taxes	–6,346	5,518	5,698	39,396	3,137	2,798	1,336	–3,148	41,640	40,249	45,466	84,813

Reinsurance

An insurance company insures part of its risk via another insurance company.

Gross (premiums written)

The gross (premiums written) includes details on the items in the balance sheet and the income statement, excluding the proportion from reinsurance.

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.

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).

Premiums written

All premiums due during the financial year arising from insurance contracts under direct insurance business, regardless of whether these premiums relate (either wholly or partially) to a later financial year. This involves (net) premiums written when reduced by the amount ceded to reinsurance companies.

Premiums

Total premiums written. All premiums from contracts written in the financial year from business acquired by the company directly and as inward reinsurance.