14.4. Challenges and priorities in risk management for 2025
Non-insurance business models
In 2026, UNIQA will continue to focus on strategic expansion beyond the traditional insurance business. These models – including pension and investment funds, the Mavie Group and UNIQA Sustainable Business Solutions – focus on prevention and advice rather than conventional risk transfer, premiums or capital earnings. The aim is to actively reduce and avoid risks, which strengthens customer loyalty, generates new sources of income and keeps UNIQA competitive. At the same time, new operational, technological and reputational risks are emerging that will require the governance structures to be adapted. Overall, these models represent a strategic development that UNIQA will harmonise with changing customer expectations.
Regulatory risks (Solvency II review, IRRD, sustainability risk plans)
Over the course of 2026, UNIQA will focus intensively on implementing the revised Solvency II Directive and the new Insurance Recovery and Resolution Directive (IRRD). The Solvency II Review entails comprehensive changes in almost all areas – from capital calculation and governance to reporting. These changes require structured implementation through targeted projects encompassing both content-related and technical adjustments to internal processes and systems. At the same time, preventive recovery planning and resolution planning is being developed in accordance with the IRRD to ensure financial stability even in crisis situations. This plan includes indicators for early detection, governance structures, specific stabilisation measures, scenario analyses and a communication strategy. Both regulatory initiatives require a comprehensive adjustment of internal processes and reports and underline the strategic goal of fulfilling regulatory requirements with foresight and strengthening the Group’s resilience in the long term. Another key issue in 2026 will be the concrete implementation of the new regulatory requirements relating to sustainability risk plans. Appropriate concepts are being developed both at Group level and in the Group companies to integrate the sustainability risk plans. The specific regulatory requirements are expected to be set out with the publication of the final technical standards in the second half of 2026 and will form the basis for the substantive design of the plans.