With effectiveness of 30 June, 2011, Dr. Konstantin Klien will resign as planned as the CEO of UNIQA Versicherungen AG. Starting from July 1, 2011, the current deputy CEO of UNIQA Group Austria, Dr. Andreas Brandstetter, will take over the responsibility as the CEO of the Group. The corresponding resolutions were taken in today´s Supervisory Board meeting.

In his 10 years period as the CEO of UNIQA Group, Dr. Klien has managed to lead UNIQA to become a sound Player on the European insurance market with business operations successfully performed in 21 countries in the Central and Eastern European region.

Through its dynamic expansion of the international business activities from 6 to current 21 European countries, UNIQA has boosted its turnover to almost 6 billion Euro in insurance premiums in a period of the recent 10 years. This impressive development has significantly supported the Groups´ strategic targets referring to risk diversification and financial stability.

As a forthcoming challenge for the European insurance industry, the new capital adequacy requirement scheme – known in the industry as "Solvency II" standards – will have a major impact on the entire European insurance business.

Encouraged by the promising semi-annual results reported for the business year 2010, and by the expected positive business result of UNIQA for the entire business year 2010, the timing of the hand-over of the responsibilities to Klien´s successor is a very favourable one. Klien, "In addition to the strategic goals of the dynamic expansion and the gradual improvement of the Groups´ business results, dealing successfully with the financial crisis was a great challenge for me. Now, I am in the position to face new tasks."

Facing the celebration of his 60th birthday in April 2011, and after 25 years as a board member in the insurance industry, out of which 20 years as a CEO, Dr. Klien will hand over his responsibility for the UNIQA Group by mid of next year.

41-year-old Andreas Brandstetter has been board member in UNIQA Versicherungen AG since 2002. In the recent years he has been responsible for the international business development for the new markets in Eastern- and South Eastern Europe, as well as for the entire Bankassurance business in UNIQA Group. In 2009, Brandstetter was appointed as the deputy CEO of UNIQA Group Austria.