Vienna Insurance Group (VIG) Investor presentation summary

Market position and business overview

• Leading insurance group in Central and Eastern Europe, active in 30 markets with over 50 local companies and pension funds, serving around 36 million customers and employing approximately 34,000 people.

• Maintains an A+ S&P rating with a positive outlook, supported by strong diversification and exclusive bancassurance agreements.

• Completed the largest acquisition in its history with Nürnberger, enhancing diversification and biometric expertise.

• Implements a decentralised business model, leveraging local expertise and multi-brand strategies.

• Focuses on sustainability, aiming for net zero emissions by 2050 and integrating ESG criteria into investment and insurance decisions.

Financial performance and targets

• Achieved gross written premiums of €16.3bn (+7.1%) and profit before taxes of €1.16bn (+31.7%) in 2025; half-year 2026 figures show €9.0bn premiums (+5.4%) and €641.5mn profit before taxes (+20.7%).

• Solvency II ratio reached 296% at end-2025 and 272% at mid-2026, reflecting robust capital strength.

• Operating ROE improved to 18.7% in 2025 and remained strong at 17.8% annualised for H1 2026.

• Targets for 2028 include gross written premiums above €20bn, profit before taxes of at least €1.5bn, combined ratio ≤91%, and solvency ratio in the 150–200% range.

• Maintains a prudent leverage profile, with strong fixed charge coverage and additional debt capacity.

Segment and regional performance

• Premium and revenue growth driven by strong performances in Poland (+8.3%), Czechia (+8.1%), and Extended CEE (+6.4%) in H1 2026.

• Insurance service revenue up 7.1% to €6.85bn in H1 2026, with all segments and lines of business contributing.

• Result before taxes increased across most regions, with notable growth in Extended CEE (+98%) and Special Markets (+35.4%).

• P&C net combined ratio improved to 91.4% in H1 2026, supported by lower claims burden.

• Life/Health new business margin remained strong at 9.0% in H1 2026.