Public Affairs

Mission Statement

At a time when European society is facing numerous challenges and problems, the UNIQA Group sees it as part of its responsibility as a corporate citizen to be part of the solution. Therefore, we are engaged in an open and constructive dialogue with numerous public stakeholders in order to work together on the legal framework of the future. This involves identifying the most important social trends and emerging political and regulatory initiatives that are relevant to the UNIQA Group, developing positions and representing them to the outside world.

The role of Public Affairs at the UNIQA Group is to identify key societal trends and emerging policy and regulatory initiatives that are relevant to the Group. Public Affairs develops a position on these issues in close cooperation with internal and external stakeholders and interest groups and represents it as the company's "foreign policy" to governments, regulators, associations or the public. 

UNIQA participates in the regulation of the financial system 

Since January 2016, Solvency II has successfully met the decades-old challenge of modernising insurance regulation in the European Union (EU) in terms of solvency requirements, governance, risk management and disclosure obligations. The UNIQA Group generally welcomes the adopted review of the Solvency II Directive. Nevertheless, stronger impetus to facilitate long-term investment in Europe's green transformation and a relaxation of reporting requirements would have been desirable. There are also fears that the new requirements of the Insurance Recovery and Resolution Directive (IRRD) will have a negative impact on the European insurance. 

UNIQA supports Sustainable Finance and implements corresponding measures

The risks resulting from climate change have a direct impact on our customers and therefore also on our core business as an insurance company. The insurance industry can play a key role in the transition to a sustainable economy - both through risk coverage for indirect and direct effects of climate risks and through targeted sustainable investments. Since insurance companies cannot act in isolation from the real economy, investments are urgently needed in areas such as infrastructure and energy production. The UNIQA Group therefore supports the efforts of the European Commission to mobilise private capital for investments in a climate-neutral Europe within the framework of the Sustainable Finance Action Plan and the European Green Deal. However, the legislative projects initiated for this purpose, such as the Corporate Sustainability Reporting Directive (CSRD), the Taxonomy Regulation, and the Corporate Sustainability Due Diligence Directive (CSDDD), pose challenges for insurance companies due to their complexity and the short implementation period. Public Affairs supports the departments concerned here by clarifying open legal questions in the implementation of the many new regulatory requirements.  

Digitalisation with responsibility 

The digital economy is developing rapidly worldwide and brings with it great opportunities as well as challenges.  National authorities have developed a digital agenda together with the European Commission in order to promote growth and innovation by implementing a strategy for the digital single market.

UNIQA recognises new potential for the further development of business models in technological innovations such as artificial intelligence, blockchain and cloud computing. The company is actively involved in shaping regulations in the area of cyber risk management, including strengthening operational resilience, managing information and communication technology risks and outsourcing. The aim is to create a regulatory framework that complements existing regulations and ensures the stability of financial services in the event of a potential major event. 

UNIQA considers it essential to participate in the regulatory dialogue on cyber risks and data usage in order to share experiences and ensure that regulation addresses emerging risks without compromising the innovative strength of the European economy.