This is the first rating for the new umbrella holding UNIQA Versicherungen AG, which arose from the restructuring in November 1999. Thus there will be no longer be a rating for UNIQA Sachversicherungen AG, which also had an “A” rating previously. Since the restructuring, the UNIQA Versicherung AG is the umbrella company and the only member of the group listed on the stock exchange.

As major rating factors, Standard & Poor's list the following:

• The central strategic role of the concern, and its central function as a reinsurer for the operative companies of the group.
• The very strong position of the Group on the Austrian market. With Raiffeisen Versicherung and UNIQA Personenversicherung UNIQA is the clear market leader in life and health insurance, and with UNIQA Sachversicherung it is one of the leading  non-life insurers in Austria. Also, because of the limited growth possibilities arising from the size of the Austrian market, the concern is also energetically pursuing an internationalization strategy, mainly in Central and Eastern Europe as well as in neighbouring countries. The take-over of the Polish composite insurance company Polonia alone will double UNIQA’s premium share coming from abroad.
• The very strong capitalization of the UNIQA Group, also considering further growth

Because of the difficult competitive situation in the non-life sector and the pressure on results, Standard and Poor`s currently assess prospects negatively. The counterstrategies already in place should however lead to clear improvement in the current year. Thus highest priority is being give to implementation of the synergies striven for in cost reduction, following one-time costs incurred by the restructuring, as well as to the rapid and efficient incorporation of the new subsidiaries abroad into the overall strategy.