Vienna Insurance Group Ag · VIE:VIG
Vienna Insurance — Natixis FIG Conference 2025
35 slides from Vienna Insurance's conference presentation, September 2025
Slide 1: Investor Presentation, Natixis FIG Conference
VIENNA INSURANCE GROUP Investor Presentation Natixis FIG Conference Paris, September 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 € 12.1bn at YE 2024 30 markets 50 insurance companies and pension funds Life1 MTPL 13.2% 17.5% Around S&P Rating Health 6.9% 33mn 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: 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 2024 (premiums per capita, in €) Insurance density in 2024 in 1,284 Austria: € 2,322 764 551 547 543 500 499 469 436 375 267 230 210 212 161 143 106 89 70 36 Hungar
Slide 5: Robust GDP growth expectations for CEESE
ROBUST GDP GROWTH EXPECTATIONS FOR CEESE According to growth forecasts, CEESE continues to outpace the euro area in 2025 and 2026 Real GDP forecast ▪ Although industry in key countries of the region – such as Poland, Czechia, Slovakia, Average annual change 2025 - 2029 Hungary and Romania, which hav
Slide 6: 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 7: VIG 25 strategic programme secures further dynamic development
VIG 25 STRATEGIC PROGRAMME SECURES FURTHER DYNAMIC DEVELOPMENT VIG aims to be at least one of the Top 3 insurance groups in each CEE market (except Slovenia) Optimise operational excellence by OBJECTIVES ▪ simplification and automation of processes VIG 25 STRATEGIC ▪ exchange and implement best prac
Slide 8: 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 9: 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 The aim of the Paris Agreement is from the base y
Slide 10: Dividend of €1.55 per share up by 10.7%
DIVIDEND OF € 1.55 PER SHARE UP BY 10.7% Dividend per share Dividend policy of VIG € 1.55 ▪ Minimum dividend set at the previous year’s level based on capital strength of € 1.40 the Group and to reflect the resilience of € 1.30 the business model € 1.25 ▪ The dividend is to increase continuously dep
Slide 11: Comfortable S&P funding structure ratios
COMFORTABLE S&P FUNDING STRUCTURE RATIOS Favourable financial leverage at the level of around 30% at year-end 2024 EBITDA Financial Leverage Debt Repayment Period Fixed Charge Coverage 15 50% 7 6 40% 5 10 30% 4 14.9 43.4% 3 20% 5 10.9 35.3% 4.7 32.0% 29.6% 2 4.4 7.5 6.2 10% 2.8 1 2.4 0 0% 0 2021 202
Slide 12: Sustainability Tier 2 bond issuance
SUSTAINABILITY TIER 2 BOND ISSUANCE Active capital management also involved a tender offer for two outstanding bonds Capital management activities in the first quarter 2025 Distribution by Investor Geography ▪ In March 2025, VIG successfully placed Subordinated Fixed to Floating Rate Tier 2 Notes wi
Slide 13: Executive summary & outlook confirmation
EXECUTIVE SUMMARY & OUTLOOK CONFIRMATION VIG with strong growth and significantly higher profitability in half-year 2025 Based on a sound performance, profit before taxes expected on the upper end of the target range of € 950mn to € 1bn for 2025 ▪ Strong business performance with insurance service r
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 2025 Results Appendix
6M 2025 RESULTS APPENDIX APPENDIX Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 15 VIG VIENNA INSURANCE GROUP
Slide 16: VIG with strong half-year performance
VIG WITH STRONG HALF-YEAR PERFORMANCE Double-digit profit before taxes growth despite goodwill impairment Gross written premiums Insurance service revenue Profit before taxes € 8,569.5mn € 6,396.9mn € 531.4mn ▪ Premiums up by 8.7% ▪ Revenue increased by 8.1% ▪ PBT up by 10.5% ▪ 6M 2024: € 7,886.8mn
Slide 17: Broad diversification supports resilience of VIG
BROAD DIVERSIFICATION SUPPORTS RESILIENCE OF VIG GWP, Insurance service revenue and PBT before consolidation; 6M 2025 Gross written premiums Insurance service revenue Profit before taxes Group Special Group Group Functions Markets Functions Functions Austria 12.3% Austria 7.2% 17.9% Special 2.4% 27.
Slide 18: Group income statement
GROUP INCOME STATEMENT 6M 2025 (€ mn) 6M 2025 6M 2024 +/- % Insurance service result 696.1 585.0 19.0 ▪ Insurance service revenue up by € 478.0mn Insurance service revenue - issued business 6,396.9 5,919.0 8.1 primarily attributable to growth of the P&C Insurance service revenue (PAA) 5,030.1 4,628.
Slide 19: Insurance service revenue of €6.4 billion up by 8.1%
INSURANCE SERVICE REVENUE OF € 6.4 BILLION UP BY 8.1% Insurance service revenue by segments; 6M 2025 (€ mn) 1,749.6 ▪ AT: Insurance service revenue grew by € 81.9mn mainly Austria +4.7% 1,831.5 driven by the non-life business (PAA) ▪ CZ: Revenue increase by € 68.6mn based predominantly on 1,029.6 po
Slide 20: Insurance service revenue growth in P&C, health and total life
INSURANCE SERVICE REVENUE GROWTH IN P&C, HEALTH AND TOTAL LIFE Insurance service revenue by lines of business, incl. Group Functions; 6M 2025 (€ mn) MTPL Casco Other property Insurance service revenue +8.1% 6,396.9 6M 2024 1,115.7 962.3 3,086.7 5,919.0 411.0 372.1 456.4 +11.2% +9.0% +3.9% 60.8 457.2
Slide 21: Result before taxes of €531.4 million up by 10.5%
RESULT BEFORE TAXES OF € 531.4 MILLION UP BY 10.5% Result before taxes by segments; 6M 2025 (€ mn) 199.1 ▪ AT: Result before taxes up by € 5.5mn mainly attributable to Austria +2.8% 204.6 the growing insurance service result ▪ CZ: Result before taxes increased by € 17.9mn supported by 97.2 combined
Slide 22: P&C net combined ratio improved to 91.9%
P&C NET COMBINED RATIO IMPROVED TO THE LEVEL OF 91.9% Discounting impact on claims ratio in 6M 2025 of 4.4% (6M 2024: 3.1%) ▪ Net insurance service expenses of € 4,170.8mn (6M24: € 3,794.6mn) / Net insurance service revenue of € 4,536.7mn (6M24: € 4,067.8mn) ▪ Improved CoR due to significantly lower
Slide 23: L/H contractual service margin & L/H new business
L/H CONTRACTUAL SERVICE MARGIN & L/H NEW BUSINESS 6M 2025 L/H CSM roll-forward (€ mn) L/H New Business +8.9% -3 13 -283 530 6,002 € 228mn € 2,568mn New Business PV NB 5 premiums 5,512 228 8.9% CSM Net New CSM interest Changes in Other FX Effect CSM release CSM Net New Business 01/01/2025 Business ac
Slide 24: 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 3.2% 1.5% 31/12/2024 12.3% 25.3% 34.3% 21.1% 7.0% 9.2% 0.7% 1.9% 30/06/2025 13.3% 26.0% 34.1% 20.2% 6.4% 9.6% €37.3bn AAA AA A BBB Other 30/06/
Slide 25: Solvency ratio
SOLVENCY RATIO Solvency position of VIG Group including and excluding transitional measures as of half-year 2025 Solvency ratio Solvency ratio including transitional measures excluding transitional measures 278% 259% 11,240 10,485 4,049 4,055 30/06/2025 30/06/2025 Solvency II own funds (€ mn) SCR (€
Slide 26: Operating return on equity
OPERATING RETURN ON EQUITY Annualised operating return on equity at half-year 2025 at the level of 18.9% 30/06/2025 31/12/2024 31/12/2023 Shareholders’ equity 6,755.9 6,513.3 6,029.7 Unrealised gains and losses recognised in equity1 -267.2 -195.7 -159.3 Adjusted shareholders’ equity 6,488.7 6,317.6
Slide 27: Appendix
6M 2025 RESULTS 6M 2025 RESULTS APPENDIX Please note that rounding differences may occur Gross written premiums are not part of IFRS 17/9 reporting 27 VIG VIENNA INSURANCE GROUP
Slide 28: Segment overview
SEGMENT OVERVIEW Insurance service revenue, result before taxes, combined ratio Insurance service revenue (€ mn) Result before taxes (€ mn) P&C net combined ratio (%) 6M 2025 6M 2024 +/- % 6M 2025 6M 2024 +/- % 6M 2025 6M 2024 +/- pp Austria 1,831.5 1,749.6 4.7 204.6 199.1 2.8 90.4 92.1 -1.7 Czech R
Slide 29: Experienced managing board
EXPERIENCED MANAGING BOARD VIG Managing Board Hartwig Löger Peter Höfinger Liane Hirner Deputy CEO, Deputy CEO, Chairman of the CFRO, Member of the Chairman of the Managing Board Managing Board Managing Board Gerhard Lahner Gábor Lehel Harald Riener Christoph Rath COO, Member of the CIO, Member of t
Slide 30: VIG share (I)
VIG SHARE (I) Number of common shares: 128,000,000 / ISIN: AT0000908504 General information Analyst recommendations (as of Aug 2025) Listings Ticker Rating Major Indices SELL BUY Vienna ▪ Stock Exchanges: VIG Standard & Poor’s: ATX 1 3 Prague ▪ Bloomberg: VIG AV / VIG CP / VIG XH A+, stable outlook
Slide 31: VIG share (II)
VIG SHARE (II) Shareholder structure Free float split by region1 North America 30% Austria 29% ~72% Wiener Städtische ~28% Continental Europe 29% Versicherungsverein Free float (Mutual) UK & Ireland 8% Other 4% 1 Split of identified shares (Source: S&P Global, May 2025) 31 APPENDIX VIG VIENNA INSURA
Slide 32: Appendix
32 APPENDIX VIG VIENNA INSURANCE GROUP
Slide 33: 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 34: 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 35: Vienna Insurance Group – Protecting what matters
VIG* VIENNA INSURANCE GROUP Protecting what matters.