Outlook for the
Insurance Group 2026

Vienna Insurance Group with its approximately 30,000 employees, as the market leader in Central and Eastern Europe, is excellently positioned to take full advantage of the opportunities in this dynamic region and the associated growth potential.

With the new Group strategy evolve²⁸, VIG is consistently focusing on growth, increased earnings and a continuously rising dividend. A significant step in this long-term growth strategy is the planned acquisition of the German company Nürnberger Beteiligungs-AG. Through this transaction, VIG will strengthen its diversification beyond the core region of Central and Eastern Europe and at the same time significantly expand its presence on the German market. The closing is expected to take place in the second half of 2026.

The targets for 2028 include:

• a substantial increase in gross written premiums to at least EUR 20 billion with the aim of further expanding market leadership in Central and Eastern Europe,

• a significant increase in the result before taxes to at least EUR 1.5 billion,

• a continued attractive net combined ratio of max. 91%,

• an operating return on equity of at least 17% and

• a consistently strong capital base with a solvency ratio of between 150% and 200%.

This clear picture of the growth trajectory for the next three years will be adapted accordingly once the regulatory approvals have been obtained for the Nürnberger acquisition, likely at the end of 2026.

The Group’s commitment to enabling its shareholders to participate in the Company’s success remains unchanged. The dividend policy sets the previous year’s dividend as the minimum dividend and anticipates a continuous increase in the dividend per share, depending on the operational result development. For the 2025 financial year, the dividend proposal is EUR 1.73, which corresponds to an increase of 11.6% and thus represents the minimum dividend for the 2026 financial year.

The decentralised business model of Vienna Insurance Group has proven its worth in the challenging geopolitical and macroeconomic environment of recent years and the Group believes it is in a good operational position in view of the continuing volatile conditions. The diversification across markets and lines of business, the consistent customer focus of its companies and its capital strength provide a strong foundation for the Group to continue its successful course. Against this background, management is aiming to achieve a result before taxes within a range of EUR 1.25 billion to EUR 1.30 billion for the 2026 financial year, without taking into account the planned Nürnberger acquisition.

Vienna, 23 March 2026

The Managing Board: