18.08.2022 |

New complaint from Infinus investor claims against UNIQA Österreich / Update of disclosure of inside information of 13 November 2020 and 4 May 2022

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On 13 November 2020 UNIQA Insurance AG published an ad hoc disclosure pursuant to Art 17 MAR that a complaint for damage claims based on private law was filed by a German special purpose entity against UNIQA Österreich Versicherungen AG ("UNIQA Österreich") in its capacity as legal successor of former FINANCE LIFE Lebensversicherung AG ("FinanceLife") and that claims have also been alleged by other investors out of court. On 4 May 2022 UNIQA published an updated ad hoc disclosure pursuant to Art 17 MAR on the increase of the amount claimed by the German special purpose entity.

One of these investor claims, which had previously been alleged out of court, has now been asserted in court. UNIQA Österreich has been served a complaint for damage claims with an amount in controversy of EUR 40,000 based on private law filed by a plaintiff belonging to these investor groups. The complaint was filed with the Regional Court (Landgericht) of Traunstein in Germany. These investor groups are different from those whose claims are asserted by the German special purpose entity. It cannot be ruled out that further complaints for damage claims will be filed with German courts by those investor groups. The plaintiff belongs to investor groups coordinated among themselves that alleged claims out of court against UNIQA Österreich in an aggregate low three digit Euro million amount.

These purported claims result from the German business of FinanceLife which was terminated already in the year 2011 and are asserted by investors who invested into Infinus group and suffered losses in respect of their investments in the course of the insolvency proceedings instituted over the companies belonging to Infinus group.

In this new complaint, no significant new facts or allegations are presented as compared to the pending civil proceedings. In the opinion of UNIQA Österreich, the allegations raised in the complaint and out of court are unfounded, and the claims alleged do not have a legal basis, neither the claims as such nor as to the amounts claimed. UNIQA Österreich contests also those purported claims and will resort to the legally available measures to defend itself against the alleged claims.

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