12.2. Remuneration for the Management Board and Supervisory Board

Since 1 July 2020, the members of the Management Board of UNIQA Insurance Group AG assume a dual operational role in their function, as they also hold the Management Board function at UNIQA Österreich Versicherungen AG. This identical composition of the Management Board in both companies enables efficient management of UNIQA. Since 1 July 2020, all employment contracts of the members of the Management Board have been with UNIQA Insurance Group AG, which has paid out all remuneration since this date.

The remuneration system was amended with effect from 1 July 2024 based on the renewed remuneration policy established by the Supervisory Board on 10 April 2024, which was the subject of a vote at the company’s Annual General Meeting on 3 June 2024. The short-term incentive (STI) and the multi-year share-based remuneration long-term incentive plan (LTI) together are capped at 100 per cent of the fixed salary. The STI will therefore account for 65 per cent of the annual fixed-income in future (previously 100 per cent), and the LTI (grant value) will account for 35 per cent in future (previously 50 per cent). Conversely, the fluctuation margin for annual fixed salaries for the members of the Executive Board was increased, taking into account relevant benchmarks for comparable companies. The new system applies on a pro rata basis from 1 July 2024 with regard to the 2024 reporting year.

For the 2022 financial year, payments of €1,102 thousand are expected in 2026. For the 2023 financial year, payments of €1,174 thousand are expected in 2027. For the 2024 financial year, payments of €1,071 thousand are expected in 2028. For the 2025 financial year, payments of €3,419 thousand are expected to be made in the years 2026 and 2029.

As part of the multi-year share-based remuneration (long-term incentive plan (LTI), payments amounting to €2,387 thousand were made to the members of the Management Board of UNIQA Insurance Group AG in 2025 from the 2021 LTI allocation. For the subsequent years 2026 to 2029, a payment of €9,496 thousand is expected for 1,046,518 virtual shares allocated up to 31 December 2025.

For pension commitments and pension liability insurance to cover these commitments for the members of the Management Board, a total of €1,138 thousand was paid in the reporting year (2024: €1,025 thousand). The pension liability insurance amounts to €830 thousand (2024: €589 thousand). The amount expended on pensions in the reporting year for former members of the Management Board and their surviving dependents was €2,231 thousand (2024: €2,278 thousand).

The remuneration of the members of the Supervisory Board for their work in the 2024 financial year was €1,213 thousand. Provisions of €1,120 thousand have been recognised for the remuneration for their work in the 2025 financial year. Daily allowances and cash outlays of €166 thousand (2024: €193 thousand) were paid out in the financial year. Since 14 April 2020, the members of the Supervisory Board of UNIQA Insurance Group AG who are also members of the Supervisory Board of UNIQA Österreich Versicherungen AG have received their daily allowances and remuneration exclusively from UNIQA Insurance Group AG despite their dual function. These daily allowances and remunerations therefore also cover the Supervisory Board activities at UNIQA Österreich Versicherungen AG.