UNIQA expanding industrial business in CEE

  • Hub for international insurance programme of 15 CEE subsidiaries located in Liechtenstein
  • Business model: direct insurance and participation via reinsurance
  • Standard & Poor’s rating for UNIQA Liechtenstein: “A- outlook stable”

Multinational corporations with subsidiaries in Central and Eastern Europe (CEE) are now able to bundle their insurance activities through UNIQA. “We focussed on the retail sector in our first wave of expansion toward CEE. We have also offered customised insurance products to our industrial customers since 2011. Today, UNIQA is represented in fifteen Central and Eastern European markets and is among the top five insurance companies in eight of the region’s markets”, says UNIQA International CEO Wolfgang Kindl. “We are now taking yet another step through offering an optimum combination of international expertise and local customer support to European corporations that operate in these countries.”

Business model in Liechtenstein
The chief contact for international corporations is UNIQA’s subsidiary in Liechtenstein. Originally established as an insurer of art, UNIQA Liechtenstein is now positioned as a specialist for cooperation in terms of customised transnational industrial insurance solutions. In the process, UNIQA Liechtenstein usually establishes international programmes that merge a corporation’s country-specific insurance policies into one central master policy for corporations that operate in CEE. “Thus, all of a customer’s subsidiaries enjoy optimum insurance protection but are still supported by our local UNIQA companies in their home country”, is how Daniel Kühneisen, CEO UNIQA Liechtenstein, describes the business model.

International programs open access to the market
“This business model makes particular use of our exceptional international cooperation with brokers and other insurance companies. We will offer our international customers chiefly property and business interruption insurance, technical insurance as well as third party liability insurance”, says Kühneisen. “UNIQA Liechtenstein serves as a hub for our UNIQA companies operating throughout the CEE area.”

Rating for UNIQA Liechtenstein
The first-time Standard and Poor’s rating of A-, awarded to UNIQA Liechtenstein on 10 October 2014, means that both the head office and the company have now received an excellent rating with stable outlook.

The UNIQA Group is one of the leading insurance groups in its core markets of Austria and Central and Eastern Europe (CEE). 22,000 employees and exclusive sales partners serve more than 9.3 million customers in 19 countries. UNIQA is the second-largest insurance group in Austria with a market share of around 22 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, and Ukraine. The UNIQA Group also includes insurance companies in Italy, Switzerland and Liechtenstein.

Daniel Kühneisen

Daniel Kühneisen [1.1 MB]

CEO UNIQA Liechtenstein

Vienna, 6. November 2014

UNIQA Group Communication

Untere Donaustraße 21
A-1029 Vienna, Austria
Phone: (+43 1) 211 75-3414
Fax: (+43 1) 211 75-3619