Vienna Insurance Group Ag · VIE:VIG
Vienna Insurance — Investor Conference Zürs 2025
37 slides from Vienna Insurance's conference presentation, April 2025
Slide 1: Vienna Insurance Group Investor Conference Zürs April 2025
VIENNA INSURANCE GROUP Investor Conference Zürs April 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 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 5: Solid GDP growth expectations for CEE
SOLID GDP GROWTH EXPECTATIONS FOR CEE CEE GDP growth forecasts continue to outpace euro area in 2025 Real GDP forecast ▪ Driven by private consumption, growth in most economies of Central, East and change over previous year 2025 2026 Southeast Europe (CESEE) will pick up in 2025, especially in the E
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: Partnership with Erste Group
PARTNERSHIP WITH ERSTE GROUP Continuous double-digit new business growth of 11% Non-life ▪ Total gross written premium in 2024 increased by 6% to € 1.43bn 22.6% ▪ Positive trend in premium development across all lines of business – in contrast to previous years, life single premium growing as well T
Slide 8: 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 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: 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 11: Strong full year performance of VIG in FY2024
STRONG FULL YEAR PERFORMANCE OF VIG IN FY2024 Double-digit top and bottom-line growth Gross written premiums Insurance service revenue Profit before taxes € 15,226.3mn € 12,138.5mn € 881.8mn ▪ Premiums up by 10.5% ▪ Revenue up by 11.1% ▪ PBT increased by 14.1% ▪ 12M 2023: € 13,784.0mn ▪ 12M 2023: €
Slide 12: Dividend proposal of €1.55 per share up by 10.7%
DIVIDEND PROPOSAL OF € 1.55 PER SHARE UP BY 10.7% Attractive dividend yield of 5.1% 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 ▪ T
Slide 13: Outlook 2025
OUTLOOK 2025 Positive outlook for 2025 despite volatile environment ▪ Based on the proven management principles, VIG has managed the impact of the challenging geopolitical and macroeconomic conditions very well and is well prepared for the volatile environment ▪ VIG’s diversification across markets
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: 12M 2024 Preliminary Results Appendix
12M 2024 PRELIMINARY 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: Group income statement
GROUP INCOME STATEMENT 12M 2024 (€ mn) 12M 2024 12M 2023 +/- % Insurance service result 1,186.4 1,208.1 -1.8 ▪ Insurance service revenue up by € 1,216.7mn with Insurance service revenue - issued business 12,138.5 10,921.8 11.1 all segments contributing to the growth, mainly Insurance service revenue
Slide 17: Insurance service revenue of €12.1 billion up by 11.1%
INSURANCE SERVICE REVENUE OF € 12.1 BILLION EURO UP BY 11.1% Insurance service revenue by segments; 12M 2024 (€ mn) 3,307.4 Austria +7.1% ▪ AT: Insurance service revenue up by € 235.8mn driven by non- 3,543.2 life business (PAA) ▪ CZ: Slight revenue growth based on positive developments in 2,040.1 C
Slide 18: Insurance service revenue growth in all lines of business except life with profit participation
INSURANCE SERVICE REVENUE GROWTH IN ALL LINES OF BUSINESS EXCEPT FOR LIFE WITH PROFIT PARTICIPATION Insurance service revenue by lines of business, incl. Group Functions; 12M 2024 (€ mn) MTPL Casco Other property Insurance service revenue +11.1% 12,138.5 12M 2023 2,092.1 1,766.4 5,630.4 761.3 10,921
Slide 19: Result before taxes grew by 14.1% to €881.8 million
RESULT BEFORE TAXES GREW BY 14.1% TO € 881.8 MILLION Result before taxes by segments; 12M 2024 (€ mn) ▪ AT: Result before taxes down by € 49.8mn due to the decreased 385.9 capital investment result and an increased combined ratio Austria -12.9% 336.1 ▪ CZ: Result before taxes decline by € 6.9mn; mai
Slide 20: P&C net combined ratio on a sound level of 93.4%
P&C NET COMBINED RATIO ON A SOUND LEVEL OF 93.4% SLIGHT DETERIORATION DUE TO WEATHER-RELATED CLAIMS AND NATCAT Discounting impact on claims ratio in 12M 2024 of 3.4% (12M 2023: 3.3%) ▪ Net insurance service expenses of € 7,931.6mn (12M23: € 7,018.0mn) / Net insurance service revenue of € 8,494.8mn (
Slide 21: L/H contractual service margin & L/H new business
L/H CONTRACTUAL SERVICE MARGIN & L/H NEW BUSINESS 12M 2024 L/H CSM roll-forward (€ mn) L/H New Business -4.7% 30 -286 480 -26 -21 € 480mn € 4,783mn 5,782 65 New Business PV NB -513 premiums 5,512 10.0% CSM Net Change in New CSM Changes Other FX Effect CSM CSM Net New Business 01/01/20241 the Busines
Slide 22: Total capital investment result
TOTAL CAPITAL INVESTMENT RESULT 12M 2024 (€ mn) 12M 2024 12M 2023 +/- % Total capital investment result 435.7 284.3 53.3 ▪ Increased interest revenue from bond portfolio Investment result 1,884.1 1,893.1 -0.5 (+€ 101.9mn) supported by market interest rate Interest revenue using the effective interes
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 3.2% 1.3% 31/12/2023 12.2% 26.3% 32.5% 22.1% 7.0% 9.5% 0.6% 1.8% 31/12/2024 12.3% 25.3% 34.3% 21.1% 7.0% 9.8% €36.5bn AAA AA A BBB Other YE 202
Slide 24: Solvency ratio
SOLVENCY RATIO Solvency position of VIG Group including and excluding transitional measures as of YE 2024 Solvency ratio Solvency ratio including transitional measures excluding transitional measures 261% 238% 10,401 9,535 3,989 3,999 31/12/2024 31/12/2024 Solvency II own funds (€ mn) SCR (€ mn) 24
Slide 25: Equity development
EQUITY DEVELOPMENT Change in consolidated Shareholders’ Equity (€ mn) +7.9% 36 -54 30 -198 6,513 -2 667 6,034 Equity Result for Hyperinflation Currency reserve Unrealised gains Dividend payment Other Equity as of 01/01/20241 the period effects and losses as of 31/12/2024 1 IAS 8 error correction of
Slide 26: Operating return on equity
OPERATING RETURN ON EQUITY Operating return on equity at YE 2024 of 16.4% 31/12/2024 31/12/2023 31/12/20222 Shareholders’ equity 6,513.3 6,029.7 5,713.9 Unrealised gains and losses recognised in equity1 -195.7 -159.3 52.3 Adjusted shareholders’ equity 6,317.6 5,870.4 5,766.2 Average adjusted shareho
Slide 27: 12M 2024 Preliminary Results Appendix
12M 2024 PRELIMINARY RESULTS 12M 2024 PRELIMINARY 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: Gross written premiums of €15.2 billion up by 10.5%
GROSS WRITTEN PREMIUMS OF € 15.2 BILLION UP BY 10.5% Gross written premiums by segments; 12M 2024 (€ mn) +6.1% +10.5% 4,533.2 4,464.4 4,271.9 4,041.8 3,578.6 3,330.1 +2.1% 2,574.8 2,316.7 2,366.2 2,243.4 +8.6% 1,797.9 +59.4% 1,655.3 1,510.0 1,524.6 1,500.3 1,213.0 1,226.5 1,142.0 941.4 1,001.7 795.2
Slide 29: 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 (%) 12M 2024 12M 2023 +/- % 12M 2024 12M 2023 +/- % 12M 2024 12M 2023 +/- pp Austria 3,543.2 3,307.4 7.1 336.1 385.9 -12.9 92.5 91.6 0.9
Slide 30: 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 31: 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 32: VIG share (I)
VIG SHARE (I) Number of common shares: 128,000,000 / ISIN: AT0000908504 General information Analyst recommendations (as of Mar 2025) Listings Ticker Rating Major Indices SELL BUY Vienna ▪ Stock Exchanges: VIG Standard & Poor’s: ATX 1 4 Prague ▪ Bloomberg: VIG AV / VIG CP / VIG XH A+, stable outlook
Slide 33: 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) 33 APPENDIX VIG VIENNA INSURA
Slide 34: Appendix
34 APPENDIX VIG VIENNA INSURANCE GROUP
Slide 35: 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 36: 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 37: Vienna Insurance Group – Protecting what matters
VIG* VIENNA INSURANCE GROUP Protecting what matters.
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