For the next few years, The Management Board and the Supervisory Board of UNIQA Insurance Group AG has approved a strategy program named UNIQA 3.0 that will lead to expenses of about EUR 210 million, according to a press release.

The UNIQA 3.0 program will reduce the number of employees in the UNIQA Group, which means that a number of 600 salaried employees will leave by the end of 2022. Staff reductions will be achieved wherever possible through natural attrition and contract terminations agreed through mutual consent. A severance plan has already been adopted.

According to the UNIQA press release, "among other things, the UNIQA 3.0 programme means that the UNIQA Group will focus in future even more intensively on customers, and make internal processes simpler, more efficient and more cost-effective."

Untill now, UNIQA has not issued any forecast for the 2020 financial year because there is a high level of uncertainly regarding the overall economy and financial developments.