UNIQA Insurance Group AG Approves €0.57 Dividend Per Share at 25th Annual Meeting

On June 3, 2024, UNIQA Insurance Group AG held its 25th annual general meeting in Vienna, where shareholders approved a dividend of €0.57 per share for the 2023 financial year. This dividend translates to a yield of 7.9%, reflecting the company's ongoing commitment to rewarding its investors.

The dividend payment schedule is as follows: UNIQA shares will be traded ex-dividend on June 13, 2024, with the record date set for June 14, 2024. The dividend will be paid out on June 17, 2024, through a credit to the deposit-holding bank, with Raiffeisen Bank International AG being the main paying agent. A 27.5% capital gains tax will be deducted from the dividend payment.

UNIQA's progressive dividend policy aims to provide annual increases to shareholders, based on a solvency ratio of at least 170%, with a payout ratio expected to remain unchanged at up to 60%. Despite challenging weather conditions and significant large-scale losses, the group reported a successful 2023 financial year, achieving significant growth and improved results, particularly in Central and Eastern Europe (CEE).

In addition to the dividend approval, the meeting saw changes to the supervisory board. Christian Kuhn stepped down because of age limits and was succeeded by Monika Henzinger, an internationally acclaimed expert in algorithms and a professor at the University of Vienna. Henzinger has led the research department of a global company in Silicon Valley and has authored over 200 scientific papers and holds more than 80 patents.

Why this matters: The approval of the dividend payout by UNIQA Insurance Group AG's annual general meeting has significant implications for the company's investors and the broader insurance industry. This move may influence other insurance companies to follow suit, potentially affecting the overall market and investor confidence.

Burkhard Gantenbein, Chairman of the Supervisory Board of UNIQA Insurance Group AG, acknowledged appreciation for Kuhn's contributions: *"We bid farewell to Christian Kuhn, who has made an invaluable contribution to the company's growth and success over many years. We thank him for his outstanding achievements and are pleased that he will remain closely associated with the company as Chairman of the Supervisory Board of UNIQA Versicherungsverein Privatstiftung. "* Gantenbein also welcomed Henzinger, stating, *"We are delighted to welcome Monika Henzinger as a new member of our Supervisory Board. With her exceptional expertise as an internationally recognized authority in algorithms, she will provide valuable impulses for the strategic orientation of our company around digitalization, data analysis, and artificial intelligence. "*

UNIQA's future plans include investing approximately €245 million in its private hospitals and doctor network, with a focus on telemedicine, 24-hour care, home testing, and psychological coaching for corporate customers. These investments aim to enhance the healthcare ecosystem and provide better services to their clients.

The approval of the €0.57 dividend per share at UNIQA Insurance Group AG's 25th annual general meeting highlights the company's commitment to its shareholders and its strategic focus on growth and innovation. The changes in the supervisory board and the planned investments in healthcare signal a forward-looking approach as UNIQA continues to adapt to the evolving insurance environment.

Key Takeaways

• UNIQA Insurance Group AG approves €0.57 dividend per share for 2023.
• Dividend yield is 7.9%, reflecting commitment to rewarding investors.
• Dividend payment schedule: ex-dividend on June 13, record date on June 14, payment on June 17.
• Monika Henzinger joins Supervisory Board, replacing Christian Kuhn.
• UNIQA to invest €245 million in private hospitals and doctor network, focusing on telemedicine.