UNIQA Insurance Group AG · VIE:UQA

UNIQA Insurance — 9M18 Earnings Presentation

45 slides from UNIQA Insurance's earnings presentation, Nov 21, 2018

1. Slide 1: UNIQA Insurance Group AG 9M18 Results

   UNIQA Insurance Group AG 9M18 Results Combined ratio and investment result improved; Consolidated profit increased to EUR 166.2m 21 November 2018 Andreas Brandstetter, CEO Kurt Svoboda, CFO/CRO, CEO UNIQA Austria

2. Slide 2: 9M18 Highlights, Group Strategy & Results

   9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 2

3. Slide 3: Executive Summary 9M18

   Executive Summary 9M18  Gross written premiums(a) remained flat compared to 9M17  Net combined ratio improved to 96.6% (97.1% in 9M17)  Net cost ratio at 25.1% (24.5% in 9M17)  Net investment result increased to EUR 447.2m (EUR 393.6m in 9M17)  Earnings before taxes improved to EUR 212.4m (EUR

4. Slide 4: Snapshot 9M18

   Snapshot 9M18 EURm 9M17 9M18 % Planned reduction in Life Gross premiums written(a) 4,043.9 4,042.3 0.0% business; Continued growth in Premiums earned (retained) 3,473.0 3,571.4 2.8% P&C and Health Net investment income 393.6 447.2 13.6% Including one-off gain from sale of Casinos AT stake in 1Q18 (

5. Slide 5: Key Financial Indicators

   Key Financial Indicators Earnings per share (EUR) Regulatory and Economic Capital Position (%) 0.79 SCR ECR 262% 250% 0.61 215% 215% 202% 210% 0.54 194% 0.48 182% 153% 150% 0.37 9M14 9M15 9M16 9M17 9M18 FY14 FY15 FY16 FY17 June 18 Operating Return on Equity (%) Book value per share (EUR) 10.34 10.35

6. Slide 6: 9M18 Group Strategy & Results

   9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 6

7. Slide 7: Planned reduction in Life business; Continued growth in P&C and Health business

   Planned reduction in Life business; Continued growth in P&C and Health business Gross written premium(a) per business line EURm 4.9% -0.1% 0.0% 5,211 5,293 1,535 5,026 5,048 4,044 4,042 254 29 441 169 207 85 275 1,245 1,249 357 1,263 1,244 1,358 47 31 25 994 1,367 1,357 64 1,005 1,405 326 311 313 35

8. Slide 8: Cost Ratio increased to 25.1% driven by higher personal costs

   Cost Ratio increased to 25.1% driven by higher personal costs Cost ratio (net) (%), Costs (EURm) -0.8% 4.1% 1.0% 1,286 1,276 1,200 1,190 333 943 952 320 323 309 297 417 420 361 346 297 324 123 111 110 94 103 226 212 228 210 152 158 45 58 53 58 47 26.6% 24.8% 25.0% 26.5% 24.9% 25.7% 24.6% 23.7% 23.6%

9. Slide 9: P&C: COR improved to 96.6% despite increased IBNR

   P&C: COR improved to 96.6% despite increased IBNR Combined ratio (net) (%) -2.0 pp 97.8% 98.8% 97.4% 96.7% 95.8% -0.5 pp 97.1% 96.6% 99.5% 97.9% 98.1% 97.5% 30.3% 32.8% 31.2% 30.6% 30.2% 31.2% 30.7% 30.6% 30.4% 32.4% 31.6% 67.4% 66.0% 66.3% 66.1% 65.6% 69.0% 67.5% 65.7% 65.9% 65.9% 66.0% 2014 2015 2

10. Slide 10: P&C: Profitable growth in CEE & AT

    P&C: Profitable growth in CEE & AT Net premiums earned EURm Investment result EURm Earnings before taxes EURm 48.1% 4.4% N/A 71 69 658 32 34 642 639 630 32 21 19 22 16 19 611 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18  Solid growth in AT and CEE driven by motor and n

11. Slide 11: Health: Higher benefits weighing on profit contribution in 9M18

    Health: Higher benefits weighing on profit contribution in 9M18 Cost – benefit ratio (%) Investment result EURm Earnings before taxes EURm -23.2% -37.8% 36 36 47 105% 103% 103% 99% 95% 30 19% 18% 17% 28 29 14% 14% 22 22 86% 85% 86% 85% 12 82% 3 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17

12. Slide 12: Life: Increased earnings before taxes driven by higher investment income

    Life: Increased earnings before taxes driven by higher investment income in 9M18 Reserve (net) EURbn Investment result EURm Earnings before taxes EURm 15,775 15,780 15,574 -3.7% -65.7% 15,488 15,460 102 99 25 97 99 24 37 32 18 32 8 28 60 7 2 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q1

13. Slide 13: Investment Activity

    Investment Activity Investment income EUR 281  Net investment result of EUR 447.2m in 9M18 (EUR 209 218 393.6m in 9M17) 191 190 182 167 170 158 161 167 142 145 143 145158 135  Current income of EUR 394.0m in 9M18 (EUR 108 377.7m in 9M17) 76  Contribution from participation in STRABAG: EUR 25.1m i

14. Slide 14: 9M18 Group Strategy & Results

    9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 14

15. Slide 15: Outlook

    Outlook  UNIQA expects stable GWP in FY18:  P&C growth of roughly 4% by both Austria and CEE  Health growth on long term trend of more than 3%  Life: Recurring premium business forecasted to slightly decrease in AT. In CEE UNIQA decided to stop single premium business in Poland and therefore exp

16. Slide 16: 9M18 Group Strategy & Results

    9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 16

17. Slide 17: UNIQA Austria

    UNIQA Austria Highlights EURm 9M17 9M18 Δ yoy  Gross premiums written increased 2.1% ytd; Decline in life business Gross premiums written(a) 2,793.9 2,853.4 2.1% (-2.9%) overcompensated by growth in non-life (motor) business Reinsurers' share -516.1 -550.0 6.6% and health business Change due to pre

18. Slide 18: UNIQA Austria P&C

    UNIQA Austria P&C Financial Highlights EURm 9M17 9M18 Δ yoy  Gross premium written increased 4.9% ytd caused by motor Gross premiums written(a) 1,268.5 1,330.3 4.9% business, corporate business and property retail business growth; Reinsurers' share -485.7 -518.1 6.7% Moderate growth of other lines

19. Slide 19: UNIQA Austria Health

    UNIQA Austria Health Financial Highlights EURm 9M17 9M18 Δ yoy  Gross premiums written continued growth trend due to premium Gross premiums written(a) 737.8 758.2 2.8% adjustments Reinsurers' share -0.1 -0.2 49% Change due to premiums earned -3.0 -2.1 -28.4%  Insurance claims and benefits increase

20. Slide 20: UNIQA Austria Life

    UNIQA Austria Life Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 787.7 764.9 -2.9%  Decline in top line of -2.9% driven mainly by recurring premium Reinsurers' share -30.2 -31.8 5.0% decline Change due to premiums earned -0.1 -0.2 137.8%  Insurance claims and benefits increas

21. Slide 21: UNIQA International

    UNIQA International Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 1,217.7 1,174.8 -3.5%  Gross Written Premiums decreased 3.5% driven by stop of sale of Life single premium business in Poland; Growth excluding Poland Reinsurers' share -345.0 -372.3 7.9% effect of 7.6% mainly c

22. Slide 22: UNIQA International P&C

    UNIQA International P&C Financial Highlights EURm 9M17 9M18 Δ yoy  Gross premiums written increased 7.0% Gross premiums written(a) 753.5 806.3 7.0% Reinsurers' share -336.5 -357.1 6.1%  Motor growth in CE (EUR 36.2m) driven by volume Change due to premiums earned -5.9 -18.7 >100% and price Net Pre

23. Slide 23: UNIQA International Health

    UNIQA International Health Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 46.0 59.6 29.7%  Gross premium written: increased 29.7% where as highest growth rate is recorded in WE and Ukraine Reinsurers' share -2.4 -7.7 >100% Change due to premiums earned -2.4 -3.0 25.3%  Insuran

24. Slide 24: UNIQA International Life

    UNIQA International Life Financial Highlights EURm 9M17 9M18 Δ yoy  Gross premiums written decreased by -26.2% Gross premiums written(a) 418.2 308.9 -26.2% Reinsurers' share -6.2 -7.4 20.6%  Stop of sales of Life single business in Poland Change due to premiums earned 0.0 0.0 N/A Net Premiums Earn

25. Slide 25: UNIQA International – country deep dive

    UNIQA International – country deep dive in EURm GWP(a) Non-life GWP(a) Health GWP(a) Life GWP(a) Total 9M18 % to PY 9M18 % to PY 9M18 % to PY 9M18 % to PY FX adjusted (b) Western Europe (WE) 26.1 3.9% 15.2 49.3% 0.0 41.3 17.0% 17.0% Western Europe (WE) 26.1 3.9% 15.2 49.3% 0.0 41.3 17.0% 17.0% Czech

26. Slide 26: UNIQA International – country deep dive

    UNIQA International – country deep dive in EURm Premiums earned (a) Net investment income Combined ratio P&C Cost ratio Earnings before taxes 9M18 9M17 9M18 9M17 9M18 9M17 9M18 9M17 9M18 9M17 Western Europe (WE) (b) 12.4 11.3 0.3 -0.9 113.3% 135.7% 16.8% 24.2% -0.2 -0.2 Western Europe (WE) 12.4 11.3

27. Slide 27: Reinsurance

    Reinsurance Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 856.4 860.9 0.5%  Comprises the reinsurance activities of UNIQA Insurance Group AG Reinsurers' share -73.6 -73.3 -0.4% in Vienna and the central reinsurance hub UNIQA Re in Zurich Change due to premiums earned -9.6 -31.

28. Slide 28: Group Functions

    Group Functions Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 0.0 0.0 N/A  Includes the remaining items for UNIQA Insurance Group AG as well Reinsurers' share 0.0 0.0 N/A as all other remaining Austrian and foreign service companies Change due to premiums earned 0.0 0.0 N/A 

29. Slide 29: Consolidation

    Consolidation Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) -824.2 -846.8 2.7%  Consolidation of intercompany effects Reinsurers' share 797.4 849.8 6.6% Change due to premiums earned -1.5 3.0 N/A Net Premiums Earned(a) -28.3 5.9 N/A Savings portion included in premiums 0.0 0.0

30. Slide 30: Group Balance Sheet

    Group Balance Sheet Assets Liabilities EURm Sep18 Dec17 EURm Sep18 Dec17 A. Total equity 2,998.0 3,193.4 -6.1% A. Tangible assets 309.4 310.6 -0.4% B. Land and buildings held as financial I. Shareholder equity 2,986.2 3,177.6 -6.0% investments 1,077.0 1,233.9 -12.7% C. Intangible assets 1,605.6 1,52

31. Slide 31: Shareholders' equity (excluding minority interest)

    Shareholders‘ equity (excluding minority interest) EURm 3.178 193 2.986 9 157 166 Dec 17 Valuation of financial Dividend payment Profit attributable Other Sep18 instruments AFS to shareholders Shareholders’ equity decreased in 9M18: Dividend payment in amount of EUR 157m  Net result contribution U

32. Slide 32: Group Income Statement

    Group Income Statement EURm 3Q17 4Q17 1Q18 2Q18 3Q18 9M17 9M18 Δ yoy Gross premiums written(a) 1,245.3 1,249.5 1,535.4 1,263.0 1,243.9 4,043.9 4,042.3 0.0% Reinsurers' share -36.7 -47.9 -63.2 -41.9 -40.7 -137.4 -145.9 6.2% Change due to premiums earned 52.1 58.2 -189.6 36.4 54.2 -62.1 -98.9 59.3% Ne

33. Slide 33: Group P&C

    Group P&C Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written 2,048.4 2,145.7 4.7%  Gross Written Premiums increased 4.7% as a result of strong growth Reinsurers' share -108.0 -113.3 4.9% in both motor and non-motor business in Austria and CEE Change due to premiums earned -56.7 -93.5

34. Slide 34: Group Health

    Group Health Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written 783.5 817.8 4.4%  Gross Premiums Written increased by 4.4% Reinsurers' share -0.7 -1.9 >100%  UNIQA International: 29.7% Change due to premiums earned -5.3 -5.2 -3.1% Net Premiums Earned 777.5 810.7 4.3%  UNIQA Austria:

35. Slide 35: Group Life

    Group Life Financial Highlights EURm 9M17 9M18 Δ yoy Gross premiums written(a) 1,211.9 1,078.9 -11.0%  Gross premium written decreased -11.0% ytd driven by planned Reinsurers' share -28.7 -30.7 6.9% decrease of single premium business in Poland Change due to premiums earned -0.1 -0.3 >100%  Net in

36. Slide 36: Asset Management

    9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 36

37. Slide 37: Fixed income portfolio

    Fixed income portfolio Overall composition Rating distribution Dec17 Governent Bonds EU 26% EUR 16.5bn 8% 2% 25% 25% 25% 24%25% Covered Bonds 13% 14% 14% 46% Corporates 9% 7% 12% Government Bonds Non-EU 3% 4% Financials AAA AA A BBB <BBB Not rated 19% Sept 18 Dec 17 Other By segment June 18 EUR 16.2

38. Slide 38: Fixed income portfolio: Government and government related

    Fixed income portfolio Government and government related Overall composition EUR 9.8bn Rating distribution 2% Rest of Europe 5% 31.6% 4% Austria 4% Rest of World 7% 34% Poland Belgium 25.5% 7% France 7% Europa Slovakia 21.4% 9% 12% Ireland 10% Supranational Organisations By segment Italy 12.0% 9.4%

39. Slide 39: Fixed income portfolio: Corporates including financials

    Fixed income portfolio Corporates including financials Overall composition EUR 3.5bn Rating distribution 7% 2% United States of America 4% 20% Rest of Europe 34.8% 7% Austria France 9% Germany 28.2% 15% United Kingdom 14% Rest of World 11% Europa 11% Netherlands By segment Italy 18.5% 11.0% 20% 32%

40. Slide 40: Fixed income portfolio: Corporate thereof financials

    Fixed income portfolio Corporate thereof financials Overall composition EUR 1.4bn Rating distribution 8% United States of America 40.6% 5% Austria 6% 30% Germany 6% Rest of World France 9% Netherlands 4% United Kingdom 19% 14% Switzerland Rest of Europe By segment 20.5% 16.0% 10.4% 29% 6.4% 6.0% P&C

41. Slide 41: Fixed income portfolio: Covered bonds

    Fixed income portfolio Covered bonds Overall composition EUR 2.7bn Rating distribution Rest of Eurpoe 4%2% 4% 19% Austria 69.2% 7% France 4% Germany United Kingdom 8% 15% Australia Netherlands 8% Spain Rest of World 12% 17% Belgium By segment Norway 19.7% 18% P&C 7.3% 16% Health 1.1% 2.1% 0.6% 66% L

42. Slide 42: Shareholder Information

    9M18 Highlights Group Strategy & Group Results Results Outlook Business Performance Operating Segments Appendix: Additional Asset Management Information Shareholder Information UNIQA Investor Relations 42

43. Slide 43: Shareholder structure

    Shareholder structure Current shareholder structure Free float geographic distribution 0.7% 1.0% 10.9% 2.5% 15.1% 28.7% 49.0% 26.8% 36.9% 28.3% UNIQA Versicherungsverein Privatstiftung Continental Europe Free Float Austria Raiffeisen Bank International North America UK & Ireland Collegialität Versic

44. Slide 44: Shareholder information and contacts

    Shareholder information and contacts Dividend per share / Pay out ratio General information UNIQA Insurance Group AG Listed on the Vienna Stock Exchange since 1999 41% 38% 45% 44% 102% 97% 309m common shares ISIN: AT0000821103 0.51 0.47 0.49  Bloomberg: UQA AV  Reuters: UNIQ.VI 0.42  Vienna Stock

45. Slide 45: Disclaimer

    Disclaimer This Presentation is being provided for information purposes to selected recipients only and does not constitute or form part of, and should not be construed as an offer or invitation or recommendation to, purchase or sell or subscribe for, or any solicitation of any offer to purchase or

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