The UNIQA Group invests in securities in a wide range of currencies. Although the insurance business is operated in different countries, the foreign currency risks of the investments do not always correspond to the currency risks of the technical provisions and liabilities. The most significant currency risk is in USD. The following table shows a breakdown of assets and debts by currency.
|
31 Dec. 2010 |
€ |
USD |
Other |
Total |
|
Assets |
|
|
|
|
|
Investments |
22,304,607 |
466,618 |
2,007,505 |
24,778,730 |
|
Other tangible assets |
116,976 |
|
21,681 |
138,657 |
|
Intangible assets |
1,401,567 |
|
107,881 |
1,509,448 |
|
Share of reinsurance in the technical provisions |
1,029,126 |
|
79,892 |
1,109,018 |
|
Other assets |
889,829 |
|
269,519 |
1,159,348 |
|
Total |
25,742,104 |
466,618 |
2,486,478 |
28,695,200 |
|
|
|
|
|
|
|
Provisions and liabilities |
|
|
|
|
|
Subordinated liabilities |
575,000 |
|
0 |
575,000 |
|
Technical provisions |
22,241,444 |
|
1,629,686 |
23,871,130 |
|
Other provisions |
701,989 |
|
23,536 |
725,526 |
|
Liabilities |
1,845,157 |
|
141,747 |
1,986,904 |
|
Total |
25,363,590 |
0 |
1,794,969 |
27,158,559 |
|
31 Dec. 2009 |
€ |
USD |
Other |
Total |
|
Assets |
|
|
|
|
|
Investments |
21,400,489 |
336,507 |
1,701,499 |
23,438,496 |
|
Other tangible assets |
112,148 |
|
20,299 |
132,447 |
|
Intangible assets |
1,413,610 |
|
102,850 |
1,516,459 |
|
Share of reinsurance in the technical provisions |
1,040,996 |
|
107,793 |
1,148,788 |
|
Other assets |
892,315 |
|
264,229 |
1,156,544 |
|
Total |
24,859,557 |
336,507 |
2,196,670 |
27,392,735 |
|
|
|
|
|
|
|
Provisions and liabilities |
|
|
|
|
|
Subordinated liabilities |
575,000 |
|
0 |
575,000 |
|
Technical provisions |
21,230,666 |
|
1,385,275 |
22,615,941 |
|
Other provisions |
629,390 |
|
29,773 |
659,164 |
|
Liabilities |
1,811,277 |
|
166,570 |
1,977,848 |
|
Total |
24,246,334 |
0 |
1,581,618 |
25,827,952 |
The fair value of securities investments in USD amounted to € 1,625 million as at 31 December 2010 (2009: € 1,344 million). The exchange rate risk was reduced using derivative financial instruments to € 467 million (2009: € 337 million), while the safeguard ratio was 71.0% (2009: 75.0%). The safeguard was maintained in a range of between 56% and 81% during the financial year (2009: 67% and 96%).
