19.02.2020 |
Update to the publication of insider information dated 19 November 2019
On 19 November 2019, UNIQA announced reviewing the possibility of merging UNIQA Insurance Group AG (“UIG”), UNIQA Österreich Versicherungen AG (“UAT”) and UNIQA International AG (“UI”) on the basis of a merger in 2020.
After the review was completed, the Management Board and Supervisory Board of UIG resolved today to merge UI as the transferring company and UAT as the acquiring company in the course of 2020 subject to attaining all regulatory approvals. UIG will remain the holding company until further notice. However, UIG shall transfer additional functions and its holdings in certain service companies to UAT, in particular all intragroup services. UIG’s reinsurance business shall be transferred to UAT and/or UNIQA Re AG, Zurich by surrendering its reinsurance license.
The goal of the restructuring resolved is to achieve the intended further simplification and streamlining of the Group structure, make the management of the Group more efficient, optimise the leadership structure as well as strengthen the customer-focussed organisation.