UNIQA capital requirement ratio improves to 264 per cent

“The 2024 financial year has shown how resilient and fast-growing UNIQA is. Even though we were confronted with economic challenges and considerable flood damage, we are able to look back on a very good financial year: with a growth in premiums written of 9 per cent to € 7.8 billion, of which 14 per cent in CEE and 5 per cent in Austria, earnings before taxes increased by almost 4 per cent to € 442 million,” emphasizes Kurt Svoboda, CFO/CRO of UNIQA Insurance Group AG, in his yearly review. “Our capital requirement ratio of 264 per cent, which has increased once again, highlights UNIQA’s solid financial basis. This gives us a capital strength that makes the company very resilient, also in view of the many economic challenges we are currently facing,” says Kurt Svoboda. Further details can be found in the Group Report 2024 published today and in the Solvency Capital Report. “These results confirm the outstanding performance of our team in Austria and Central and Eastern Europe, the strength of our diversified business model and the success of our strategic orientation,” concludes Svoboda.

Capital requirement ratio improves to 264 per cent

The solvency capital requirement (SCR) ratio in accordance with Solvency II rose by a further 9 percentage points year-on-year. This key figure, which serves as an indicator of capitalisation, was at a high level of around 264 per cent as at 31 December 2024 (2023: 255 per cent).

The SCR ratio is based on the ratio of own funds of €6,211 million (2023: €5,941 million) to the own funds requirement of €2,350 million (2023: €2,328 million). Tier 1 capital (core capital), which is regarded as particularly secure, currently accounts for 86 per cent of UNIQA’s own funds.

360 key figures for 17 countries on 85 pages

At the same time, UNIQA published the latest Sustainability Report – for the first time no longer separately, but as part of the Group Report 2024. The basis for this is the new EU Corporate Sustainability Reporting Directive (CSRD). It ensures uniform European standards by combining group and sustainability reports in one document. This is intended to make it easier to compare companies, prevent greenwashing and promote sustainable practices throughout the economy. Kurt Svoboda explains: “The goal is to create more transparency with regard to sustainability so that investors, customers and all our stakeholders can make informed decisions. The report covers the most important topics relating to the environment, social responsibility and corporate governance and contains a total of 360 key figures.”

On the way to net zero emissions

UNIQA will reduce greenhouse gas emissions in the insurance business, in investments and in its own operations to a minimum level in order to achieve net zero emissions. A central component is the gradual phase-out of coal, oil and natural gas in our own investments and in the insurance business. UNIQA will achieve net zero emissions within the business model (insurance business, own operations management) by 2040 in Austria, and by 2050 throughout the entire Group (investment, insurance business, own operations management). Details can be found in the ESG section of the Group Report, as well as in the company’s climate transition plan. (https://www.uniqagroup.com/grp/sustainability/reporting-disclosure/UNIQA_Transition_Plan.pdf)

“Growing Impact 2025 – 2028” strategy

“With its clear focus on our 17 million customers, our Growing Impact strategy presented at the end of 2024 creates the structural conditions for realising stable earnings, profitable growth and an attractive, progressive dividend for our shareholders. At the same time, it shows that we are also prepared for periods of increased risks due to climate change and increasingly severe natural catastrophes,” emphasises Svoboda. Over the next four years, UNIQA is aiming for average growth in the number of premiums written

of at least 5 per cent. Earnings per share are expected to increase by an average of at least 6 per cent per annum. The aim is to achieve an annually increasing dividend per share with an unchanged payout ratio of 50 to 60 per cent.

Clause regarding predictions about the future

This press release contains statements which refer to the future development of UNIQA. These statements present estimations which were reached on the basis of all of the information available to us at the present time. If the assumptions on which they are based do not occur, the actual results may vary from the results currently expected. As a result, no guarantee can be provided for the information given.

Download Group Report 2024

Download Solvency Capital Report

Download UNIQA Transition Plan