6M 2023 VIG Presentation

Wiener Borse (Alternative Disclosure) via PUBT

6M 2023 RESULTS PRESENTATION

Liane Hirner, CFRO

Roland Goldsteiner, Head of Group Finance & Regulatory Reporting Werner Matula, Chief Actuary & Head of Actuarial Services

Vienna, 30 August 2023

RESULTS OVERVIEW 6M 2023

Strong performance in challenging environment

Insurance service revenue

- 5,380.4mn
6M 2022: € 4,732.9mn

Annualised earnings per share

- 5.25
Net profit after taxes and non-controlling interests of € 343.4mn

Profit before taxes

- 462.9mn
6M 2022: € 212.0mn

Operating Retuon Equity

15.8%

Annualised based on HY result
31/12/2022: 10.9%

Net Combined Ratio (P&C)

94.0%

6M 2022: 90.6%

Solvency Ratio

282%

Own funds: € 11,134mn
SCR: € 3,947mn

OVERVIEW

VIG

VIENNA INSURANCE GROUP

FINANCIALS

OUTLOOK

SEGMENTS

APPENDIX

Please note: rounding differences may occur

VIG

VIENNA INSURANCE GROUP

GROUP INCOME STATEMENT

6M 2023 (€ mn)

		6M 2023		6M 2022	+/- %
Insurance service result		550.8		521.3	5.7
Insurance service revenue - issued business	5,380.4	4,732.9	13.7
Insurance service revenue (PAA)	4,160.5	3,662.0	13.6
Expected claims	527.2	499.6	5.5
Expected directly attributable expenses	275.6	215.5	27.9
Experience adjustment	-3.4	0.1	-
Change of risk adjustment	80.2	79.3	1.1
CSM release	340.2	276.4	23.1
Insurance service expenses - issued business	-4,807.4	-4,099.0	17.3
Incurred claims and directly attributable expenses	-4,811.0	-4,039.5	19.1
Other insurance expenses	3.6	-59.5	-
Insurance service result - reinsurance held	-22.2	-112.6	-80.3
Insurance service revenue - reinsurance held	-793.8	-690.8	14.9
Insurance service expenses - reinsurance held	771.6	578.2	33.5
Net investment result		233.4		-149.1	-
Investment result	1,098.4	-1,245.1	-
Income and expenses from investment property	30.0	23.4	28.6
Insurance finance result	-910.8	1,063.7	-
Result from at-equity consolidated companies	15.7	8.9	77.4
Finance result	-52.1	-42.7	22.0
Other income and expenses		-269.1		-117.5	>100
Business operating result		463.0		212.0	>100
Adjustments		-0.1		0.0	-
Result before taxes		462.9		212.0	>100
Taxes	-110.1	-57.1	92.8
Non-controlling interests		-9.4		-7.5	25.8
Result for the period after taxes	343.4	147.4	>100
and non-controlling interests

Positive development of the insurance service revenue in all segments; the increase results primarily from the dynamic premium development in PAA as well as from the higher CSM release in GMM and VFA
Net investment result in the comparison period was burdened by measures taken (€ 126.1mn) in relation to Russian investment exposure; through the sale of

Russian bonds in the first half of 2023 a profit of

€ 20.3mn was achieved; overall current income growing due to increased interest rate environment
Result before taxes up by € 251mn; result in the first half of 2022 was significantly influenced by the interest rate development; contribution of the long-term life and health insurance business in 6M 2022 substantially lower
Tax ratio of 23.8% (6M 2022: 26.9%)

FINANCIALS

VIG

VIENNA INSURANCE GROUP

INSURANCE SERVICE REVENUE OF 5.4 BILLION EURO UP BY 13.7%

Insurance service revenue by segments (€ mn)

Austria

Czech Republic

Poland

Extended CEE

Special Markets

	1,543.4
	+6.4%
	1,642.1
902.8	+10.7%
999.7

528.6
+10.8%
585.6
	1,241.5
	+21.8%
	1,511.7
203.3
+75.1%	6M 2022
356.1
6M 2023

AT: Insurance service revenue up by € 98.7mn driven by increased gross written premiums in the non-life lines of business
CZ: Double-digit growth due to positive development in the motor lines of business
PL: Revenue growth mainly driven by gross written premium increases in casco and other property business
Extended CEE: Revenue up by € 270.2mn impacted by first- time consolidation of Alfa (former Aegon) in Hungary and supported by positive developments in casco in Romania and Bulgaria as well as solid growth in the non-life lines of business in Slovakia
Special Markets: Substantial increase of € 152.8mn in the insurance service revenue driven by good performance in all lines of business in Türkiye and Georgia including the first-time consolidation of Viennalife (former Aegon) in Türkiye

Group Functions € 798.3mn (6M 2022: € 744.4mn) +7.2%; Consolidation € -513.1mn (6M 2022: € -431.1mn) +19.0%

FINANCIALS

VIG

VIENNA INSURANCE GROUP

Attachments

Disclaimer

Vienna Insurance Group AG published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 06:10:51 UTC.