EANS-Adhoc: UNIQA Insurance Group AG / UNIQA sells Italian subsidiaries

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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
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other/Sell of majority interest
02.12.2016

Today, the Management Board of UNIQA Insurance Group AG (UNIQA)
resolved to sell the majority interest of 99.7% in its subsidiary
UNIQA Assicurazioni SpA to the Italian mutual insurance company
Società Reale Mutua di Assicurazioni. The Supervisory Board has
approved the sale.

The sale encompasses UNIQA Assicurazioni SpA and its subsidiaries
operating in Italy, UNIQA Previdenza SpA and UNIQA Life SpA. The
parties have agreed on the content of a purchase agreement that is to
be signed shortly. The legal closing of the purchase agreement is
expected to take place in the first half of 2017 after all necessary
regulatory approval has been granted. The purchase price is EUR295
million before transaction costs.

As at 30 September 2016, UNIQA has goodwill of EUR115 million
relating to the Italian companies. In connection with the impairment
of this goodwill, the sale will result in a negative effect on
consolidated net profit of around EUR100 million in 2016. By
contrast, the transaction have a positive effect of around 20
percentage points on UNIQA's economic capital ratio (ECR ratio).

The transaction is part of the UNIQA 2.0 strategy introduced in 2011,
which stipulates a focus on the core markets of Austria and Central
and Eastern Europe.

UNIQA still expects earnings before taxes for fiscal year 2016 to be
up to 50 per cent lower than the very good earnings for 2015 due to
the deduction of the Italian contribution. The company is also
keeping to its intention to continuously increase dividends per
share.

Forward-looking statements This press release contains statements
concerning UNIQA's future development. These statements present
estimates which were reached on the basis of all of the information
available to us at the present time. If the assumptions on which they
are based do not occur, the actual results may deviate from the
results currently expected. As a result, no liability is accepted for
this information.

Further inquiry note:
UNIQA Insurance Group AG
Norbert Heller
Tel.: +43 (01) 211 75-3414
mailto:norbert.heller@uniqa.at

end of announcement euro adhoc
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issuer: UNIQA Insurance Group AG
Untere Donaustraße 21
A-1029 Wien
phone: 01/211 75-0
mail: investor.relations@uniqa.at
WWW: http://www.uniqagroup.com
sector: Insurance
ISIN: AT0000821103
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English

Original-Content von: UNIQA Insurance Group AG, übermittelt durch news aktuell