UNIQA: Strong performance in the first quarter of 2021 Earnings before taxes up to €112.1 million Premiums written up by 13.0 per cent following consolidation of AXA-CEE Excellent underwriting result with combined ratio of 90.9 per cent Consolidated net profit of €89.4 million Solvency II ratio at 195 per cent Positive outlook for 2021 as a whole confirmed UNIQA Insurance Group AG (UNIQA) delivered a strong performance at the start of 2021. Growth, the underwriting result (€62.5 million) and investment income (€150.1 million) all developed extremely positively. “The Group’s successful business performance in the first three months of the year shows that we are on the right track with our UNIQA 3.0 strategy programme. We have clearly achieved our growth targets with an increase of 13 per cent in premiums written, while at the same time maintaining a solid cost ratio. We are also benefiting from our underwriting discipline, from less weather damage than in recent years and, of course, from the recovery on the stock markets. We are therefore very confident that we will achieve our plans for the 2021 financial year, which include an EBT figure on par with 2018,” said Andreas Brandstetter, CEO of UNIQA Insurance Group AG. Total premiums written by the UNIQA Group (including savings portions) increased by 13.0 per cent to €1,782.7 million in the first quarter of 2021. Premiums written by the UNIQA Austria segment increased by 1.3 per cent to €1,152.0 million in the first quarter of 2021. In the UNIQA International segment, premiums written increased by 46.7 per cent to €627.0 million due to the first-time consolidation of the AXA companies. This growth in premiums in the first quarter of 2021 contrasts with a significantly lower increase in the total amount of retained insurance benefits of the UNIQA Group of 7.7 per cent to €1,024.2 million. The combined ratio after reinsurance improved to 90.9 per cent as a result of a lower claim frequency, particularly in vehicle insurance. First milestones set in “UNIQA 3.0 – Seeding the Future” growth programme Under “UNIQA 3.0 – Seeding the Future”, UNIQA has set itself ambitious growth targets for the years 2021 to 2025. Average annual premium growth of 3 per cent, a considerable reduction in the cost ratio to 25 per cent, a combined ratio that is consistently below 93 per cent by 2025 and a return on equity that is consistently above 9 per cent form the basis of progressive dividend growth on par with levels seen before the COVID-19 pandemic. This is underpinned by explicit customer focus and by maintaining high investments in digitalisation, IT and data. The first milestones have already been set with the successful integration of the AXA companies in CEE (in Poland the legal merger has already been completed after closing within just five months), a reduction in the cost ratio, the transformation of the corporate culture and the focus on innovations in disruptive business models. Today, on 20 May 2021, UNIQA will publish its results for the first quarter of 2021 as well as its Solvency and Financial Condition Report (SFCR) for 2020.  Key Group figures from January to March 2021 in detail Total premiums written by the UNIQA Group, including the savings portion of unit- and index-linked life insurance, increased by 13.0 per cent to €1,782.7 million in the first quarter of 2021 (January to March 2020: €1,578.3 million) due to the first-time consolidation of the AXA companies in Poland, Czechia and Slovakia. While recurring premiums grew by 12.7 per cent to €1,748.1 million (January to March 2020: €1,551.7 million), single premiums in life insurance rose by 29.9 per cent to €34.6 million (January to March 2020: €26.6 million). Retained premiums earned (in accordance with IFRS) increased by 12.8 per cent to €1,417.5 million (January to March 2020: €1,256.6 million). Premiums written in property and casualty insurance grew by 15.4 per cent to €1,053.9 million in the first three months of 2021 (January to March 2020: €913.3 million). Premiums written in health insurance rose by 1.8 per cent to €309.0 million in the reporting period (January to March 2020: €303.6 million). In life insurance, premiums written, including the savings portion of unit- and index-linked life insurance, posted growth of 16.2 per cent to a total of €419.9 million in the first three months of 2021 (January to March 2020: €361.4 million). UNIQA Austria’s premium volume written, including the savings portion of unit- and index-linked life insurance, increased by 1.3 per cent to €1,152.0 million in the first quarter of 2021 (January to March 2020: €1,137.0 million). Premiums written in international Group companies rose at a much stronger rate of 46.7 per cent to €627.0 million due to the first-time consolidation of the AXA companies (January to March 2020: €427.4 million). The total amount of retained insurance benefits of the UNIQA Group increased much less than premiums by 7.7 per cent to €1,024.2 million in the first quarter of 2021 (January to March 2020: €950.6 million). Total operating expenses rose by 7.1 per cent to €405.8 million in the first three months of 2021 (January to March 2020: €379.0 million).Acquisition expenses less reinsurance commissions received posted an increase of 4.0 per cent to €248.9 million (January to March 2020: €239.3 million). Other operating expenses (administration costs) climbed by 12.3 per cent to €156.9 million in the first quarter of 2021 (January to March 2020: €139.7 million) as a result of the first-time consolidation of the AXA companies. This includes costs in connection with the innovation and investment programme amounting to roughly €11 million (January to March 2020: roughly €12 million). The total cost ratio – the ratio of total operating expenses to premiums earned including the net savings portion of the premiums from unit- and index-linked life insurance – less reinsurance commissions received decreased to 27.2 per cent (January to March 2020: 28.4 per cent). The combined ratio after reinsurance improved to 90.9 per cent as a result of a lower claim frequency, particularly in vehicle insurance (January to March 2020: 97.8 per cent). Investment income increased by 67.4 per cent to €150.1 million in the first quarter of 2021 (January to March 2020: €89.7 million). The drivers behind this performance were higher purchase prices from shares and also fixed-income securities. Accounting for the 14.3 per cent interest in the construction group STRABAG SE using the equity method resulted in a negative contribution to earnings of €–18.7 million in the first quarter of 2021 (January to March 2020: €–18.7 million). The investment portfolio of the UNIQA Group (including investment property, financial assets accounted for using the equity method and other investments) decreased slightly as at 31 March 2021 compared with the end of the previous year to €21,858.4 million (31 December 2020: €22,319.2 million). The UNIQA Group’s underwriting result was €62.5 million in the first quarter of 2021 (January to March 2020: €–0.9 million). Operating earnings were €142.4 million (January to March 2020: €1.6 million). The UNIQA Group’s earnings before taxes amounted to €112.1 million (January to March 2020: €–13.9 million). Consolidated net profit (net profit for the period attributable to the shareholders of UNIQA Insurance Group AG) rose to €89.4 million (January to March 2020: €–13.2 million). Earnings per share amounted to €0.29 (January to March 2020: €–0.04). As at 31 March 2021, equity attributable to the shareholders of UNIQA Insurance Group AG decreased to €3,300.8 million (31 December 2020: €3,450.1 million). The Solvency II ratio was 195 per cent as at 31 March 2021. Due to the first-time consolidation of the AXA companies, the average number of employees at the UNIQA Group rose to 14,817 in the first three months of 2021 (January to March 2020: 13,052). Outlook UNIQA still expects earnings before taxes for the 2021 financial year to be at around the same level as in 2018. Dates As announced, the Annual General Meeting will be held in Vienna on 31 May 2021. Given the current legal restrictions on assemblies, UNIQA will hold the Annual General Meeting virtually. Forward-looking statements This press release contains statements concerning UNIQA’s future development. These statements are estimates based on all the information available to us at the current time. If the assumptions on which they are based do not occur, the actual results may deviate from the results currently expected. No guarantee can therefore be given for this information.