Vienna Insurance Group Ag · VIE:VIG
Vienna Insurance — Natixis CIB FIG Conference 2026
39 slides from Vienna Insurance's conference presentation, Sep 18, 2026
Slide 1: Vienna Insurance Group – Natixis CIB FIG Conference
Vienna Insurance Group Natixis CIB FIG Conference Paris, 17-18 September 2026
Slide 2: Agenda
Agenda Company overview 6M 2026 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 2
Slide 3: Number 1 insurance group in CEE
Number 1 insurance group in CEE Broadly diversified and solidly capitalised Top 3 FI VIG is represented More than 50 local SE 30 in 30 markets 50 insurance companies and NO EE > Top 3 pension funds LV Special DK LT Markets BY Around 36mn Excellent S&P rating 36 customers served by ~34,000 A+ of A+ w
Slide 4: Key figures for the full-year 2025
Key figures for the full-year 2025 Solid top- and very strong bottom-line growth Gross written premiums Insurance service revenue Profit before taxes € 16,313.7mn € 13,196.0mn € 1,161.3mn +7.1% +8.7% +31.7% 12M 2024: € 15,226.3mn 12M 2024: € 12,138.5mn 12M 2024: € 881.8mn P&C net combined ratio Solv
Slide 5: Financial targets 2028
financial targets 2028 VIG quantitative targets (not yet including NÜRNBERGER) Growth Profitability Capital strength Gross written Profit before Combined Operating Solvency premiums taxes ratio ROE ratio ≥ € 20 billion ≥ € 1.5 billion ≤ 91% ≥ 17% 150 – 200% in 2028 in 2028 in 2028 in 2028 range ther
Slide 6: Robust Solvency in 2025
Robust Solvency in 2025 Supported by higher own funds 296% Composition of own funds Solvency ratio – sensitivity analysis +15.3% 11,995 Scenario Level Change 10,401 11.2% 1.1% 1.0% 2.3% 11.2% Base case 296% – 2.8% Equity -25% 307% +11 pp 85.5% 85.1% 11,995 Interest rate -100bps 281% -15 pp Interest
Slide 7: Own funds & capital measure uptake capacity
Own funds & capital measure uptake capacity 2025 Solvency II tiering 2026 Q2 Solvency II tiering 2026 Q2 Own funds structure and limits structure and limits composition 2,517 2,814 13,402 1.2% 10.3% 2,238 2.0% 1,861 520 863 2,246 2,547 86.6% 1,340 598 719 1,376 467 561 271 131 267 158 RT1 Tier 2 Tie
Slide 8: Strong funding metrics
Strong funding metrics Providing additional debt capacity Financial leverage (in %) Fixed charge coverage Debt repayment period +2.0 bn debt +2.6 bn debt 43.4 4.4 17.7 32.0 29.6 14.9 27.9 10.9 2.8 2.4 2.0 7.5 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 A prudent leverage profile prov
Slide 9: VIG's bonds overview
VIG’s bonds overview Subordinated bonds - EUR 1.43bn Senior bonds - EUR 500mn Bonds shown at the next call date1 500 500 300 300 134 200 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Bonds shown at final maturity 500 500 300 334 300 2036 2042 2043 2044 2045 2046 2047 Perp. Bonds from subsid
Slide 10: VIG's outstanding bonds – detailed overview
VIG’s outstanding bonds – detailed overview Nominal amount Year of Coupon1 Maturity Next call Tiering S&P rating (EUR mn) issuance 4.7493 100 2026 2047 2037 Tier 2 A- 4.703 100 2026 2047 2037 Tier 2 A- 4.625 300 2025 2045 2035 Tier 2 A- 4.875 500 2022 2042 2032 Tier 2 A- 1 500 2021 2036 2036 Senior
Slide 11: S&P affirms VIG's financial strength with an A+ rating
S&P affirms VIG’s financial strength with an A+ rating and a positive outlook Diversification and growth strengthen VIG’s resilience VIG’s key strengths Positive impact from Nürnberger Well-diversified insurance portfolio across regions and segments A+ acquisition - enhances diversification and expa
Slide 12: Investment portfolio
Investment portfolio Conservative and stable investment strategy Investment split Bond portfolio by rating1 Government bond portfolio split by country at YE 20252 30/06/2026 13.5% 22.6% 38.6% 19.1% 6.2% 0.8% Austria 3.4% 5.0% 10.6% 7.3% AAA A Other Other3 AA BBB Czech Republic 1.8% 32.4% 13.4% 9.5%
Slide 13: VIG Holding's robust interest payments and liquidity
VIG Holding’s robust interest payments and liquidity Debt interest coverage over EUR 270mn (€ mn) Liquidity2 at VIG Holding (€ mn) 2,223 227 Following closing of -67 686 the NÜRNBERGER acquisition, liquidity 41.2% in 2026 remains 346 strong € 839mn 279 58.8% 1,310 Investment Interest Excess of incom
Slide 14: NÜRNBERGER acquisition completed
NÜRNBERGER acquisition completed Only 7 months from signing to closing Overview Pro-forma combined GWP GWP of € 3.5bn2 of VIG incl. NÜRNBERGER1 Largest acquisition in VIG’s history Special Health occupational Markets disability 9% insurance Fitch rating for NÜRNBERGER upgraded to 7% Austria other li
Slide 15: M&A activities
M&A activities Update 2025 & Q2 2026 Poland Investment in Phinance by Vienna Life Germany Acquisition Nürnberger Ukraine IFC investment, War-risk insurance facility Montenegro Moldova Foundation of non-life Acquisition Moldasig insurer Romania IFC investment, Carpathia Albania Pensi Foundation of Vi
Slide 16: Agenda
Agenda VIG introduction & strategy 6M 2026 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 16
Slide 17: Key figures for the half-year 2026
Key figures for the half-year 2026 VIG remains on a profitable growth trajectory Gross written premiums Insurance service revenue Profit before taxes € 9,031.6mn € 6,849.9mn € 641.5mn +5.4% +7.1% +20.7% 6M 2025: € 8,569.5mn 6M 2025: € 6,396.9mn 6M 2025: € 531.4mn P&C net combined ratio Solvency II r
Slide 18: Executive summary & outlook
Executive summary & outlook VIG well on track at half-year 2026 Guidance for 2026 affirmed Good gross written premiums development, with Poland (+8.3%), Czechia (+8.1%) and Extended CEE (+6.4%) outperforming VIG’s overall premium growth of 5.4% Slight decrease in Special Markets (-1.6%) driven by Tü
Slide 19: Gross written premiums up by 5.4% to € 9.0bn
Gross written premiums up by 5.4% to € 9.0bn Gross written premiums by segments; 6M 2026 (€ mn) +6.4% +3.6% 4,873.2 4,742.0 3,751.2 3,644.5 2,807.6 +8.1% 2,709.1 2,629.4 2,559.8 2,470.1 +8.3% 1,935.8 -1.6% 1,832.4 1,673.6 1,587.3 1,399.0 1,391.8 1,322.6 1,294.4 1,186.4 915.8 991.8 714.0 817.2 803.8
Slide 20: Insurance service revenue up by 7.1% to € 6.8bn
Insurance service revenue up by 7.1% to € 6.8bn Insurance service revenue by segments; 6M 2026 (€ mn) 1,831.5 Austria: Insurance service revenue grew by € 65.2mn Austria +3.6% driven by non-life and health insurance 1,896.7 Czechia: Strong revenue growth of € 95.3mn based on 1,098.2 the positive per
Slide 21: Solid growth across all lines of business
Solid growth across all lines of business Insurance service revenue by lines of business, incl. Group Functions; 6M 2026 (€ mn) MTPL Casco Other property Insurance service revenue +7.1% 6M 2025 1,241.1 1,048.6 3,206.3 6,849.9 6,396.9 486.0 +5.6% +6.2% +6.6% 411.0 461.0 456.4 67.3 60.8 573.2 6M 2026
Slide 22: Result before taxes of € 641.5mn up by 20.7%
Result before taxes of € 641.5mn up by 20.7% Result before taxes by segments; 6M 2026 (€ mn) 204.6 Austria: Result up by € 22.9mn mainly attributable to Austria +11.2% the the positive performance of the total capital investment 227.5 result in life, driven by the favourable yield curve developments
Slide 23: P&C net combined ratio improved to 91.4%
P&C net combined ratio improved to 91.4% Discounting impact on claims ratio in 6M 2026 of 3.6% Net insurance service expenses of € 4,404.4mn (6M25: € 4,170.8mn) / Net insurance service revenue of € 4,821.2mn (6M25: € 4,536.7mn) Improvement of the combined ratio supported by a lower overall claims bu
Slide 24: L/H contractual service margin & new business
L/H contractual service margin & new business 6M 2026 Life/Health CSM roll-forward (€ mn) +1.3% CSM New Business 86 1 41 € 252mn 4 -299 252 6,307 PV NB premiums 6,223 € 2,797mn CSM net New Business CSM interest Changes in Other changes FX effect CSM release CSM net 01/01/2026 accretion Variable Fee
Slide 25: Solvency II ratio
Solvency II ratio VIG Group’s Solvency position including and excluding transitional measures Solvency II ratio Solvency II ratio including transitional measures excluding transitional measures 272% 258% 13,404.5 12,757.0 4,931.0 4,938.5 30/06/2026 30/06/2026 Solvency calculation as of 30/06/2026 in
Slide 26: Segment overview
Segment overview Gross written premiums Insurance service revenue Result before taxes P&C net combined ratio in € mn in € mn in € mn in % 6M 2026 6M 2025 +/- % 6M 2026 6M 2025 +/- % 6M 2026 6M 2025 +/- % 6M 2026 6M 2025 +/- pp Austria 2,807.6 2,709.1 3.6 1,896.7 1,831.5 3.6 227.5 204.6 11.2 90.6 90.
Slide 27: Agenda
Agenda VIG introduction & strategy 6M 2026 results Appendix Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 27
Slide 28: Experienced Managing Board
Experienced Managing Board Extensive experience in insurance industry & specific country responsibilities Hartwig Peter Gerhard Höfinger Lahner Liane Löger Hirner 1st Deputy CEO, CEO, 2nd Deputy CEO, COO, 1st Deputy Chairman CFRO, Chairman of the 2nd Deputy Chairman of the Managing Member of the Man
Slide 29: VIG strategy framework
VIG strategy framework Four elements forming a framework for the local companies’ targets to ensure the long-term success of the Group Group programmes Five distinctive group-wide programs in which all local companies participate Group programmes Designed to support objectives and strategic implicat
Slide 30: Group-wide sustainability programme
Group-wide sustainability programme Sustainability in VIG means creating economic value today without doing so at the expense of tomorrow SOCIAL FOCUS ENVIRONMENTAL FOCUS Objectives Objectives Reduction of emissions to net zero by 2050 A ETY MANA SSET Risk literacy CI GE Investment in green bonds SO
Slide 31: Transition plan for climate protection
Transition plan for climate protection Net zero by 2050 – steps on the path to decarbonisation 2023: base year 2030: ~30% emission reduction 2050: net zero STARTING POINT INTERIM TARGET TARGET The greenhouse gas emissions VIG has defined as its first milestone a ~30% reduction The aim of the Paris A
Slide 32: Earnings growth through challenging times
Earnings growth through challenging times VIG has successfully navigated economic, geopolitical, inflationary, natural catastrophe and pandemic events € 1,161mn PBT € 881.8mn 20251: ▪ ~30,000 employees € 518.4mn € 521.6mn € 441.2mn ▪ >50 insurance companies European & pension funds € 155mn cold wave
Slide 33: Key investment proposition
Key investment proposition How investors benefit from VIG’s unique market position and business approach Market leader in CEE with growth prospects Decentralised business model Attractive risk/reward profile in a growth region Agile, future-oriented operations in a dynamic environment Investments to
Slide 34: VIG share (I)
VIG share (I) Number of common shares: 128,000,000 | ISIN: AT0000908504 General information Analyst recommendations (as of Sep 2026) Listings Ticker Major indices BUY Vienna Stock Exchanges: VIG ATX 3 Prague Bloomberg: VIG AV / VIG CP / VIG XH ATX Prime Budapest Reuters: VIGR.VI / VIGR.PR / VIGR.H P
Slide 35: VIG share (II)
VIG share (II) Shareholder structure Free float split by region1 Continental Europe 31% Austria 27% ~72% Wiener Städtische ~28% North America 25% Versicherungsverein Free float (Mutual) UK & Ireland 15% Other 2% 1 Split of identified shares (Source: S&P Global, May 2026) 35 Appendix
Slide 36: Appendix – We are Number 1 in Central and Eastern Europe
36 SIGMA. VIG WIENER STADTISCHE @lonav kynana dl WIENER OSIGURANJE Yen We are Number 1 in Central and Eastern Europe Appendix Bosnia Herzegovina sons vs cei euisreaD SIGMA! WINNER pot sutsT®@ 40 ee) een COMPENSA dt Seesam Slovenia aad WIENER: WIENER SE Ed Ed = TREE VIENNA-LIFE CCOMPENSA di TE) inter
Slide 37: Contact details
Contact details Investor Relations Financial calendar 20261 Nina Higatzberger-Schwarz Date Event Sylvia Hollerer Phone: +43 50 390-21920 Phone: +43 50 390-21919 12 Mar 2026 Preliminary results for the financial year 2025 nina.higatzberger@vig.com sylvia.hollerer@vig.com 28 Apr 2026 Results and Group
Slide 38: 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 39: Vienna Insurance Group
39 VIG* VIENNA INSURANCE GROUP Vienna Insurance Group
Vienna Insurance Group — Natixis CIB FIG Conference 2026 on 6ix