UNIQA bonds: solidly financed on a sustainable basis

Subordinated bonds: important component of our capital structure

In addition to equity, subordinated capital is also highly significant when it comes to financing our insurance business: UNIQA had two subordinated bonds outstanding as at 31 December 2025 with a total nominal value of around €700 million. The weighted average interest rate of our subordinated bonds was 4.06 per cent as at 31 December 2025.

Green bonds: active investment in a sustainable future

Of the €700 million, €375 million is attributable to a green bond. As part of the issuance, we have committed ourselves to making investments in equal amounts in renewable energy projects (wind and solar parks) as well as in sustainable waste management (waste separation and recycling including energy production) and mobility (rail transport, local public transport). We see a positive trend here in terms of climate change mitigation: sustainability has become a determining factor in investment decisions.

Senior bond: favourable long-term financing

In addition, there is currently a senior bond with a nominal value of €600 million on the market, which we issued in July 2020 in connection with the acquisition of the former AXA companies in CEE. The bond has a remaining term of 4.5 years and a coupon of 1.375 per cent.

Standard & Poor’s raises UNIQA’s rating

Standard & Poor’s (S&P) upgraded its current rating for UNIQA Insurance Group AG in November 2025 from A– to A. S&P based this upgrade primarily on UNIQA’s very strong operating performance and compelling underwriting results. Successful implementation of the strategy and in particular the broader diversification of earnings between Austria and the international markets were also highlighted. This is underpinned by robust capitalisation and a solid balance sheet structure, according to S&P. The ratings for UNIQA Österreich Versicherungen AG, the reinsurance company UNIQA Re AG in Switzerland and UNIQA Poland were also raised to A+ as part of the upgrade. UNIQA’s two outstanding subordinated bonds were upgraded to BBB+, while the senior bond was upgraded to A.