The basis for this participation is a “Framework agreement” signed in July 2003 by UNIQA and the EBRD. According to this, UNIQA receives a commitment to the greatest volume that an insurance corporation has so far been granted for extending its activities in Eastern Europe. Altogether, the EBRD will provide UNIQA with up to € 70 million for minority holdings in existing companies, as well as for further acquisitions in Central and Eastern Europe.

Prior to UNIQA Biztosito, the EBRD has already taken stakes in UNIQA in Croatia (20%), the Czech Republic (17%) and Poland (30%). Along with UNIQA’s current involvement in Hungary, € 46 million of the EBRD’s commitment has already been used up. UNIQA CEO Dr. Konstantin Klien: “We also interpret our successful cooperation with the EBRD over quite a number of years as recognition and confirmation of our strategy and competence in Central and Eastern Europe”. The reinforcement of UNIQA Biztosito’s capital basis through the EBRD’s holding supports the growth policy of increasing market shares, in addition to the strategy of broadening the range of products.

UNIQA Biztosito Rt. was founded in 1990 and has been a member of the UNIQA Group Austria since summer 2003. The company is the sixth largest insurance company in Hungary and sells all sorts of property and personal insurance. UNIQA Biztosito Rt. also sells pension and health insurance products, and has a sales and marketing network all over Hungary. Preliminary data indicate that the company received € 120 million as income on premiums in 2004.