EANS-Adhoc: UNIQA revises forecast for 2020; First quarter earnings negative; Proposed dividend of 18 cents (instead of 54 cents) per share EAE

Tuesday, 14. April 2020 12:48
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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.
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Earnings Forecast
14.04.2020

Vienna - Based on preliminary work on the result for the first quarter of 2020,
the significant negative effects of COVID-19 on the capital markets in the first
quarter of 2020 will have a negative impact, above all, on the investment result
of UNIQA. As a result, UNIQA expects negative earnings before taxes in the low
double-digit million euro range for the first quarter of 2020.

Due to the high uncertainty regarding the overall economic and financial impact
of COVID-19 in the further course of the year, UNIQA cannot maintain the
forecast for the business year 2020, according to which the result from ordinary
activities in 2020 will be approximately at the level of 2019. UNIQA therefore
expects a possibly negative result before taxes for the full year 2020.

In careful consideration of all currently known circumstances and conceivable
consequences of the COVID-19 pandemic and with special attention to the
statements of the European Insurance and Occupational Pensions Authority
("EIOPA") from April 2, 2020 and those of the Austrian Financial Market
Authority ("FMA") from April 3, 2020, and taking into account the very good
result in the 2019 financial year, a complete elimination of the dividend will
not be proposed to the Annual Shareholders Meeting but a reduction of the
planned dividend of 54c per share to 18c per share for the 2019 financial year.

A complete elimination of the dividend for the 2019 financial year is not
proposed to the Annual Shareholders Meeting because - despite the burdens
resulting from developments on the capital markets - on the one hand, the
solvency ratio (SCR) at the end of the first quarter of 2020 is at the upper end
of the target range of 155 to 190 percent. At the end of 2019, the solvency
ratio (SCR) was 216 percent. On the other hand, the institutional and private
shareholders of UNIQA should also participate appropriately in the positive
results of the financial year 2019 even in times of COVID-19.

UNIQA plans not to distribute a dividend for the 2020 financial year. The bonus
payments (STI) for the Executive Board for the 2020 financial year are
cancelled.

The regular Annual Shareholders Meeting will take place as announced on May 25,
2020 in Vienna. Due to the current legal restrictions on meetings, UNIQA plans
to hold the shareholders meeting as a virtual meeting in accordance with the
provisions of the company law COVID-19 regulation of the Federal Minister of
Justice of April 8, 2020.

Due to the currently different priorities shaped by COVID-19, UNIQA Insurance
Group AG will postpone the planned transfer of in-group services and their
reinsurance business to UNIQA Österreich Versicherungen AG. UNIQA Insurance
Group AG will remain for the time being as a reinsurance company. The merger of
UNIQA International AG and UNIQA Österreich Versicherungen AG will take place
according to plan.

Further inquiry note:
Presse
Gregor Bitschnau
UNIQA Insurance Group AG
Group Communication
+43 (0)1 21175 3440
+43 664 88915564
gregor.bitschnau@uniqa.at

Investor Relations
Michael Oplustil
UNIQA Insurance Group AG
Investor Relations
+43 (0)1 21175 3236
+43 664 88915215
michael.oplustil@uniqa.at

end of announcement                         euro adhoc
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issuer:       UNIQA Insurance Group AG
              Untere Donaustraße 21
              A-1029 Wien
phone:        01/211 75-0
FAX:          
mail:         investor.relations@uniqa.at
WWW:          http://www.uniqagroup.com
ISIN:         AT0000821103
indexes:      WBI, ATX
stockmarkets: Wien
language:     English

EAX0003    2020-04-14/12:48

Related Links: UNIQA Insurance Group AG
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