On October 14, 2003 it was decided at the general meetings of UNIQA TU S.A. (property insurance) and UNIQA TU na Zycie S.A. (life assurance) that the EBRD (European Bank for Reconstruction and Development) would participate in the two Polish subsidiaries of the UNIQA Group which is quoted on the stock exchange (http://www.uniqagroup.com).

Within the course of capital increases in both companies the EBRD will take on a 30% share in the capital of the two insurers. In this context, Mr. Andre Kuusvek was appointed to the Supervisory Board of the Polish UNIQA companies as representative of the EBRD.

The basis for the EBRD’s commitment in the Polish UNIQA companies is a framework agreement that was signed in July 2003. With this Framework Agreement UNIQA was assured the largest volume of participation that has ever been granted to an insurance company to build up its activities in the East. Altogether, the EBRD will provide UNIQA with up to EUR 70 million for minority participations in existing companies and for acquisitions in Central and Eastern Europe. Within the framework of an agreement concluded in 1998 the EBRD has participated in the UNIQA subsidiaries in the Czech Republic at approximately 17% and in Croatia at about 20%.

“The EBRD’s commitment shows us that they recognize our expertise and strategy and, on the financial side, it increases our capability to further expand in our focus markets in Central and Eastern Europe”, emphasized UNIQA's CEO, Dr. Konstantin Klien.

It is also intended that the EBRD shall have a share in the Polish insurer Filar, which is currently being acquired by UNIQA.

UNIQA in Poland
In 2001, UNIQA acquired the Polonia insurance company as it was called – in the meantime its name has been changed to UNIQA – and has been active on the Polish insurance market ever since. The companies, with their headquarters in Lodz, attained a premium volume of EUR 83.7 million in 2002.

In May 2003, the UNIQA Group Austria and the German insurer R+V Allgemeine Versicherung AG concluded a contract whereby R+V shall transfer the shares in its companies in Poland (and in Slovakia) to UNIQA.   After receiving the required approvals, UNIQA will hold about 90% of the Polish K.U. FILAR S.A and 100% of the K.U. FILAR Zycie S.A.  Filar was founded in Stettin and earned a premium volume of EUR 34.5 million in 2002.

Together, UNIQA and FILA attained a market share in the Polish property insurance line of 4.0 %, putting them in 4^th place.

UNIQA in Central and Eastern Europe
In the course of completed and still ongoing acquisitions, the UNIQA Group is increasing foreign share in the Group premium to EUR 467.2 million (database 2002), i.e. by approximately 15%.   Apart from Poland and Austria, UNIQA is also active in the Czech Republic, in Slovakia, Hungary, Croatia, Italy, Liechtenstein and Switzerland with its own companies under the unified brand name of UNIQA.