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Corporate Governance Report

We are committed to following the Austrian Code of Corporate Governance.

Comply or Explain

The “L rules” (legal requirements) detailed in the Code are adhered to in full. However, UNIQA deviates from the provisions of the version of the Code applicable to the year under review with regard to the “C rule” (Comply or Explain) below, which it explains as follows: 

Rule 49

Due to the growth of the UNIQA Group’s shareholder structure and the special nature of the insurance business with regard to the investment of insurance assets, a number of contracts are in place with companies associated with individual members of the Supervisory Board. Should such contracts require approval by the Supervisory Board in accordance with Section 95 paragraph 5 item 12 of the Austrian Stock Corporation Act (rule 48), the details of these contracts cannot be made public for reasons of company policy and competition law. In any case, all transactions are handled on the basis of customary market conditions.

Consolidated Corporate Governance Report 2016