Vienna Insurance Group (VIG) investor relations material

Executive summary

• Gross written premiums rose 5.4% year-over-year to EUR 9.03 billion, with insurance service revenue up 7.1% to EUR 6.85 billion and profit before taxes increasing 20.7% to EUR 641.5 million, driven by improved combined ratio and strong investment results.

• Completed the acquisition of Nürnberger, the largest in company history, expanding presence to 36 million customers in 30 countries and strengthening diversification, especially in Germany.

• All segments contributed to earnings growth, with Extended CEE (+98%), Special Markets (+35.4%), and Austria (+11.2%) showing the highest increases.

• Management affirms 2026 pre-tax profit guidance of EUR 1.25–1.30 billion, excluding the full impact of Nürnberger.

• Launched new Group strategy 'evolve28' targeting market leadership in CEE, premium and profit growth, and embedding sustainability as a core value.

Financial highlights

• Net combined ratio improved to 91.4%, a 0.5 percentage point decrease from the prior year, reflecting lower claims costs.

• Solvency ratio at 272% as of 30 June 2026, down from 296% at year-end 2025 due to simplified inclusion of Nürnberger.

• Earnings per share (annualised) increased 16.1% to EUR 7.28.

• Operating return on equity (annualised) at 17.8%.

• Total investment portfolio grew 4.1% to EUR 49.1 billion.

Outlook and guidance

• Management confirms 2026 pre-tax profit guidance of EUR 1.25–1.30 billion, excluding the impact of the Nürnberger acquisition.

• Financial targets to be updated after full integration of Nürnberger and IFRS 17 implementation at year-end.

• Economic headwinds from geopolitical tensions and volatile oil prices expected to persist, but CEE region forecasted to grow 2.3% in 2026.

• Inflation in the eurozone projected at 2.9% for 2026, with CEE region at 3.8%.

• Management expects continued growth in insurance service revenue and profitability across all segments.