Vienna Insurance Group Ag · VIE:VIG
Vienna Insurance — Virtual Austrian Conference 2025
34 slides from Vienna Insurance's conference presentation, Feb 19, 2025
Slide 1: Vienna Insurance Group – Virtual Austrian Conference
VIENNA INSURANCE GROUP Virtual Austrian Conference 19 February 2025
Slide 2: Well diversified and solidly capitalised insurance group
WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994 Represented in More than Insurance service revenue of € 10.9bn at YE 2023 30 markets 50 insurance companies and pension funds Life1 MTPL 14.1% 17.4% Around S&P Rating Health 6.8% 32mn customers serve
Slide 3: VIG – Leading insurance group in CEE
Top 3 VIG – LEADING INSURANCE GROUP IN CEE Austria Albania Baltic states VIG as early mover with excellent market shares FI Bulgaria Czech Republic NO Hungary North Macedonia Market positions SE Romania Country Total Market Share EE Slovakia Non-life Life Total 2 Ukraine Austria 1 1 1 22.6% LV Czech
Slide 4: Dynamic development since EU accession in the CEE member states
DYNAMIC DEVELOPMENT SINCE EU ACCESSION IN THE CEE MEMBER STATES VIG markets CZ, EE, HU, LV, LT, PL, SK, SL are becoming EU members as of 1 May 2004 Major developments and future growth drivers GDP per capita as % of EU15 (in pps)1 80 ▪ Within 20 years, GDP per capita grew from as low as 30% of Weste
Slide 5: Taking advantage of the long-term growth potential in CEE
TAKING ADVANTAGE OF THE LONG-TERM GROWTH POTENTIAL IN CEE Annual insurance spending as indicator for growth potential Insurance density 2023 (premiums per capita, in €) Insurance density in 2023 in 1,443 Austria: € 2,220 786 503 502 473 467 455 423 398 272 219 193 189 167 145 113 83 74 60 35 Hungary
Slide 6: Solid macroeconomic outlook for CEE
SOLID MACROECONOMIC OUTLOOK FOR CEE Central and Eastern Europe recovery remains on track despite downward drag from Germany Real GDP average annual change Strong private consumption driving growth in the CEE region in 2025-2026 2024 – 2028 China + 4.0% ▪ GDP growth for the EU members in the region i
Slide 7: Success is built on diversified and resilient business model
SUCCESS IS BUILT ON DIVERSIFIED AND RESILIENT BUSINESS MODEL VIG‘s 4 proven management principles Local entrepreneurship Multi-brand policy ▪ Knowledge of local needs and markets ▪ Utilisation of established local brands → Local identification ▪ Decentralised structures & through market-specific bra
Slide 8: VIG 25 strategic programme secures further dynamic development
VIG 25 STRATEGIC PROGRAMME SECURES FURTHER DYNAMIC DEVELOPMENT Initiatives and projects to optimise, enhance and expand VIG’s business model STRATEGIC TRENDS DEVELOPMENTS Optimise operational excellence by OBJECTIVES ▪ simplification and automation of processes VIG 25 STRATEGIC ▪ exchange and implem
Slide 9: Group-wide sustainability programme complements VIG strategic programme
GROUP-WIDE SUSTAINABILITY PROGRAMME COMPLEMENTS VIG 25 STRATEGIC PROGRAMME Sustainability in VIG means creating economic value today without doing so at the expense of tomorrow Social focus Environmental focus Objectives Objectives ▪ Promote risk literacy As iety Mana set ▪ Reduce emissions of inves
Slide 10: 9M 2024 continuous strong performance of VIG
9M 2024 CONTINUOUS STRONG PERFORMANCE OF VIG Strong development with solid top- and bottom-line growth and stable combined ratio Insurance service revenue Profit before taxes € 8,960.9mn € 666.5mn ▪ Revenue up by 9.3% ▪ PBT increased by 8.5% ▪ 9M 2023: € 8,196.7mn ▪ 9M 2023: € 614.0mn P&C net combin
Slide 11: 9M 2024 insurance service revenue of € 9.0 billion up by 9.3%
9M 2024 INSURANCE SERVICE REVENUE OF € 9.0 BILLION EURO UP BY 9.3% Insurance service revenue by segments (€ mn) ▪ AT: Solid insurance service revenue up by € 152.7mn driven by 2,489.7 non-life business (PAA) Austria +6.1% 2,642.4 ▪ CZ: Stable revenue growth based on positive developments in the moto
Slide 12: Solvency ratio development
SOLVENCY RATIO DEVELOPMENT Solvency position (including transitionals) of VIG Group 269% 262% 265% 259% 10,345 10,287 10,477 10,545 3,847 3,921 3,950 4,072 31/12/2023 31/03/2024 30/06/2024 30/09/2024 Solvency II own funds (€ mn) SCR (€ mn) Solvency ratio (%) 12 9M 2024 UPDATE VIG VIENNA INSURANCE GR
Slide 13: 9M 2024 executive summary
9M 2024 EXECUTIVE SUMMARY VIG well on track to reach 2024 target Confirmation of guidance for 2024 ▪ Profit before taxes expected on the upper end of announced target range of EUR 825 to EUR 875 million for 2024 − Strong performance in Austria despite impact of NatCat event Boris in CEE; growth driv
Slide 14: VIG in a nutshell
VIG IN A NUTSHELL Well-diversified M&A based on Strong over countries Resilient VIG 25 strategic Sustainability strong footprint capitalisation and lines of business model programme programme and selective and continuous business approach dividend payer ▪ Leading insurance ▪ Local entrepreneurship ▪
Slide 15: 6M 2024 results appendix
6M 2024 RESULTS APPENDIX Please note that rounding differences may occur 15 VIG VIENNA INSURANCE GROUP
Slide 16: Excellent half-year performance of VIG
EXCELLENT HALF-YEAR PERFORMANCE OF VIG Top and bottom-line growth with improved combined ratio Insurance service revenue Profit before taxes P&C net combined ratio € 5,919.0mn € 481.0mn 93.3% ▪ Revenue up by 10.0% ▪ PBT increased by 3.9% ▪ Net COR improved by 0.7pp ▪ 6M 2023: € 5,380.4mn ▪ 6M 2023:
Slide 17: Group income statement
GROUP INCOME STATEMENT 6M 2024 (€ mn) 6M 2024 6M 2023 +/- % ▪ Insurance service revenue up by € 538.6mn Insurance service result 585.0 550.8 6.2 primarily due to strong growth in P&C business Insurance service revenue - issued business 5,919.0 5,380.4 10.0 (Premium Allocation Approach) Insurance ser
Slide 18: Insurance service revenue of € 5.9 billion up by 10.0%
INSURANCE SERVICE REVENUE OF € 5.9 BILLION EURO UP BY 10.0% Insurance service revenue by segments; 6M 2024 (€ mn) ▪ AT: Solid insurance service revenue up by € 107.5mn coming 1,642.1 from non-life business (PAA) Austria +6.5% 1,749.6 ▪ CZ: Stable revenue growth based on positive development in the m
Slide 19: Insurance service revenue growth by lines of business
INSURANCE SERVICE REVENUE GROWTH IN NON-LIFE, HEALTH AND LIFE INSURANCE WITHOUT PROFIT PARTICIPATION Insurance service revenue by lines of business, incl. Group Functions; 6M 2024 (€ mn) MTPL Casco Other property Insurance service revenue +10.0% 5,919.0 6M 2023 1,023.5 859.6 2,728.1 372.1 5,380.4 45
Slide 20: Result before taxes grew by 3.9% to 481.0 million euro
RESULT BEFORE TAXES GREW BY 3.9% TO 481.0 MILLION EURO Result before taxes; 6M 2024 (€ mn) ▪ AT: Result before taxes up by € 7.0mn mainly due to volume 192.2 growth Austria +3.6% 199.1 ▪ CZ: Result before taxes decline by € 17.1mn due to the decrease in the life insurance result and an increased 114
Slide 21: P&C net combined ratio of 93.3%
P&C NET COMBINED RATIO OF 93.3% Discounting impact on claims ratio in 6M 2024 of 3.1% (12M 2023: 3.3%) ▪ Net insurance service expenses of € 3,794.6mn (6M23: € 3,325.1mn) / Net insurance service revenue of € 4,067.8mn (6M23: € 3,539.1mn) ▪ Slightly improved combined ratio compared to the previous ye
Slide 22: L/H contractual service margin & L/H new business
L/H CONTRACTUAL SERVICE MARGIN & L/H NEW BUSINESS 6M 2024 L/H CSM roll-forward (€ mn) L/H New Business (€ mn) -2.8% 13 -132 216 11 -19 € 216mn € 2,199mn 5,789 28 New Business PV NB -279 CSM premiums 5,627 9.8% CSM Net Change in New CSM Changes Other FX Effect CSM CSM Net New Business 01/01/2024 the
Slide 23: Investment split
INVESTMENT SPLIT Investments held at VIG’s own risk (excl. investments for unit- and index linked life insurance) Investment split Bond portfolio by rating1 3.3% 1.6% 12M 2023 12.2% 26.3% 32.5% 22.1% 7.0% 9.2% 0.1% 2.0% 6M 2024 12.2% 25.2% 32.5% 22.9% 7.3% 9.9% €35.4bn AAA AA A BBB Other in 6M 2024
Slide 24: Equity development
EQUITY DEVELOPMENT Change in consolidated Shareholders’ Equity (€ mn) +2.0% 29 -35 -34 -198 363 6,153 -2 6,030 Equity Result for Hyperinflation Currency reserve Unrealised gains Dividend payment Other Equity as of 01/01/2024 the period effects and losses as of 30/06/2024 24 6M 2024 RESULTS VIG VIENN
Slide 25: 6M 2024 results appendix
6M 2024 RESULTS APPENDIX Please note that rounding differences may occur 25 VIG VIENNA INSURANCE GROUP
Slide 26: S&P confirms A+ rating with stable outlook
S&P CONFIRMES A+ RATING WITH STABLE OUTLOOK Revised S&P Capital Model Criteria S&P published updated research for VIG under revised model and affirmed A+ rating with stable outlook ▪ Solid capital buffers at the highest confidence level (99.99%), as per S&Ps updated risk-based capital model, support
Slide 27: Dividend of € 1.40 per share
DIVIDEND OF € 1.40 PER SHARE Attractive dividend yield in line with the industry 2023 2022 2021 2020 Earnings per Dividend policy of VIG € 4.31 € 3.631 € 2.94 € 1.81 share ▪ Minimum dividend set at the previous year’s level Dividend per based on capital strength of the Group and to € 1.40 € 1.30 € 1
Slide 28: Gross written premiums of EUR 11.5 billion up by 8.0%
GROSS WRITTEN PREMIUMS OF EUR 11.5 BILLION UP BY 8.0% Gross written premiums by segments (€ mn) +6.5% 4,271.9 +11.2% 4,041.8 3,578.6 3,361.2 3,330.1 2,993.6 2,574.8 +1.6% 2,316.7 2,243.4 1,769.0 1,797.9 +6.6% 1,510.0 1,524.6 +30.2% 1,213.0 1,150.2 1,226.5 1,142.0 941.4 1,001.7 795.2 769.1 620.5 686.
Slide 29: VIG share (I)
VIG SHARE (I) Number of common shares: 128,000,000 / ISIN: AT0000908504 General information Analyst recommendations (as of Nov 2024) Listings Ticker Rating Major Indices SELL BUY Vienna ▪ Stock Exchanges: VIG Standard & Poor’s: ATX 1 5 Prague ▪ Bloomberg: VIG AV / VIG CP / VIG XH A+, stable outlook
Slide 30: VIG share (II)
VIG SHARE (II) Shareholder structure Free float split by region1 North America 32% Austria 29% ~72% Wiener Städtische ~28% Continental Europe 28% Versicherungsverein Free float (Mutual) UK & Ireland 7% Other 4% 1 Split of identified shares, May 2024 (Source: S&P Global) 30 APPENDIX VIG VIENNA INSURA
Slide 31: Appendix
31 APPENDIX VIG VIENNA INSURANCE GROUP
Slide 32: Contact details / financial calendar
CONTACT DETAILS / FINANCIAL CALENDAR Investor Relations / investor.relations@vig.com / www.group.vig Nina Higatzberger-Schwarz Sylvia Hollerer Financial calendar 2025* Tel. +43 50 390-21920 Tel. +43 50 390-21919 Date Event nina.higatzberger@vig.com sylvia.hollerer@vig.com 12 Mar. 2025 Preliminary re
Slide 33: Disclaimer
DISCLAIMER IMPORTANT NOTICE These materials are for information purposes only. These materials do not constitute or form part, or all, of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in any jurisdiction in which such solicita
Slide 34: VIG? Protecting what matters.
N VIG? VIENNA INSURANCE GROUP Protecting what matters.
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