On 13 November 2020 UNIQA Insurance AG published an ad hoc disclosure pursuant to Art 17 MAR that a German special purpose entity has filed a complaint for damage claims based on private law against UNIQA Österreich Versicherungen AG ("UNIQA Österreich") in its capacity as legal successor of former FINANCE LIFE Lebensversicherung AG in the amount of approx. EUR 3,900,000; the complaint has been filed in connection with bonds issued by German Infinus group over which insolvency proceedings were instituted in the year 2014. The announcement of 13 November 2020 also mentions that the complaint includes a reservation of further claims of additional investors possibly being lodged and that the plaintiff has alleged claims in an up to aggregate medium size two digit Euro million amount out of court.
After having increased the amount claimed several times by smaller amounts the plaintiff has now increased the amount claimed in its complaint to a total of approx. EUR 99,200,000.
No significant new facts or allegations are presented by the plaintiff in its filing of the increased claim. UNIQA Österreich sticks to its position that the arguments presented and allegations raised in the complaint (and out of court) are unfounded and that the claims alleged do not have a legal basis, neither the claims as such nor as to the amount claimed. Therefore, UNIQA Österreich will continue to contest the claims raised and will resort to the legally available measures to defend itself against the alleged claims. In the opinion of UNIQA, the increase of the amount claimed does not lead to a relevant change of UNIQA's risk assessment.