Helvetia : 30.01.2023 I Analyst conference - 2022 in review / IFRS 17/9 information

2022 in review

IFRS 17/9 information

Analyst conference call

Helvetia Group

30 January 2023

Disclaimer

Disclaimer: Analyst Presentation

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This document serves for information purposes only. This document does not constitute an offer or a solicitation to sell, exchange, buy or subscribe to securities, nor does it constitute an offering circular as defined by article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus as defined by the listing rules of the SIX Swiss Exchange Ltd. Investors should make their decision to sell, buy or subscribe to securities in Helvetia Holding AG solely on the basis of the relevant offer prospectus which will be published in due course.

This document is not an offer of securities for sale or purchase in the United States. The securities to which this document relates have not been and will not be registered under the United States Securities Act of 1933, as amended (the ʺSecurities Actʺ), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will not be a public offering of securities in the United States.

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Agenda

01	2022 in review	• Annelis Lüscher Hämmerli, Group CFO
02	IFRS 17/9 information	• Annelis Lüscher Hämmerli, Group CFO
		• Annelis Lüscher Hämmerli, Group CFO
03	Q&A	• Beat Müller, Group Chief Actuarial Officer
• Marc Brachat, Head of Group Accounting, Controlling and
		Transformation / Project Lead IFRS 17/9

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Financial targets 2025: Well on track in first half-year despite macroeconomic headwinds

Financial targets 2025			Status at HY 2022
	Profitability:
	Non-life net combined ratio	92% - 94%	93.6%	On track
	Life new business margin	2% - 3%	3.4%	Exceeded
	Fee business:
	Volume	CHF >350 million by 2025		CHF 193 million (HY basis, not annualised)	On track
	Share on Group IFRS profit	>5% by 2025		(not yet disclosed)
	Cost efficiencies	CHF 100 million by 2025		(FY 2021: CHF 39 million)	On track
	S&P rating	'A' rating		'A+' rating (confirmed on 21/07/2022)	Exceeded
	Dividend distribution to shareholders	CHF >1.5 billion over the next		(FY 2021: CHF 292 million)	On track
		5 years (cumulative)
	Return on equity*	8% - 11%	8.4%	On track

* Excluding unrealised gains and losses in equity

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Continued broad-based growth in non-life, expected decrease in life

Business volume

Non-life

Life

Trends in 2022

• Currency translation effects influencing growth in Swiss francs
• At constant FX, broad-based growth trend in all segments seen in the first half continuing
• As in the first half, individual life influenced by non-recurrence of a few large single premium contracts in the previous year and cautious underwriting of traditional business
• Expected decline in Swiss group life as seen in the first half due to market-wide shift from full insurance to semi-autonomous solutions

2021

(in CHF million)

11,222

6,656

4,566

Drivers in 2021

• First full-year inclusion of Caser
• Strong growth due to broad-based organic development and contribution of Caser
• Growth in Specialty Markets driven by strategic development of new lines of business and favourable price effects
• Significantly increasing volumes in B2B2C business in Switzerland
• Strong development of investment-linked products in all country markets
• Decline in Swiss group life due to the market- wide trend of a shift from full insurance to semi-autonomous solutions

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