19. Restructuring measures

The Supervisory Board approved the UNIQA 3.0 strategic programme in November 2020. This programme aims to make UNIQA even more focused on the customer and makes internal processes simpler, more efficient and more cost-effective. This will be accompanied by cutbacks in the UNIQA Group’s workforce. Staff reductions will be achieved wherever possible through natural attrition and contract terminations agreed through mutual consent. The severance scheme that has been agreed includes special severance, partial retirement and other compensation models. A provision for restructuring measures was recognised in the amount of €98,587 thousand on account of these measures, which mainly involve a reduction in the number of employees in Austria.

The provision for restructuring measures is stated under the balance sheet item “Other provisions”. It is mainly disclosed in the consolidated income statement under the items and .

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Disclosure in the consolidated income statement

In € thousand

Property and casualty insurance

Health insurance

Life insurance

Total

6,801

4,117

2,819

13,738

Expenses for the acquisition of insurance

14,123

7,475

5,118

26,716

Other

27,773

16,787

11,477

56,037

Expenses from investments

1,333

456

308

2,096

Total

50,030

28,835

19,721

98,587
Insurance benefits
Total of insurance benefit payments and changes in the claims provision during the financial year in connection with direct insurance and reinsurance contracts (gross). This involves net insurance benefits when reduced by the amount ceded to reinsurance companies. This does not include claims settlement expenses and changes in the provisions for claims settlement expenses.
Operating expenses
This item includes acquisition expenses, portfolio management expenses and the expenses for implementing reinsurance. The operating expenses remain for the company’s own account following deduction of the commissions and profit participation received from the reinsurance business ceded.
Insurance benefits
Total of insurance benefit payments and changes in the claims provision during the financial year in connection with direct insurance and reinsurance contracts (gross). This involves net insurance benefits when reduced by the amount ceded to reinsurance companies. This does not include claims settlement expenses and changes in the provisions for claims settlement expenses.
Operating expenses
This item includes acquisition expenses, portfolio management expenses and the expenses for implementing reinsurance. The operating expenses remain for the company’s own account following deduction of the commissions and profit participation received from the reinsurance business ceded.