UNIQA Insurance Group (UQA) investor relations material

Executive summary

• Achieved 12% total growth including primary and reinsurance business, with all business lines contributing positively and primary business in line with expectations.

• ROE at 16.3% and return on risk around 18%, both stable year-over-year.

• Strong technical performance and diversified growth led to resilient earnings, with EPS up 11.1% to €0.84.

• Macro headwinds such as inflation and interest rates were managed through prudent asset-liability management and selective underwriting.

• Solid solvency position and well-balanced earnings between Austrian and international segments.

Financial highlights

• Earnings before taxes (EBT) increased by 10.5% year-over-year to €326.5 million, mainly driven by financial results.

• Gross written premiums (GWP) rose 12% year-over-year to €4,924.2 million, with P&C up 16% and Health up 8%.

• Net investment income surged 46.7% to €586.7 million, and financial result doubled to €176 million.

• Combined ratio (net after reinsurance) at 91.6%, with underlying net combined ratio below 90% after adjusting for balance sheet measures.

• Solvency II ratio at 271%, well above the 180–230% target range.

Outlook and guidance

• Full-year EBT guidance maintained at €540–570 million, with €327 million achieved in H1.

• Dividend policy targets a 50–60% payout ratio, with FY25 DPS at €0.72.

• 2028 targets reaffirmed: >6% premium CAGR, >7% EPS CAGR, >13% ROE, <93% combined ratio (net), <15% admin cost ratio.

• Cautious outlook due to potential volatility from capital markets and CAT events in H2.

• Guidance may be updated in Q3 if major events do not materialize.