Preliminary earnings before taxes for financial year 2022 of EUR 420 to EUR 425 million better than expected

On basis of preliminary results from preparing the consolidated financial statements of UNIQA Insurance Group AG ("UNIQA") as at 31 December 2022 UNIQA expects significantly improved consolidated earnings before taxes for the financial year 2022 in the range of EUR 420 million to EUR 425 million (2021: EUR 382.3 million; analyst consensus approx. EUR 364 million).

Those preliminary earnings before taxes show UNIQA's further improved core business. Although UNIQA is aiming at continuously improving the performance in its core business in the financial year 2023, the current financial year 2023 will, due to the expected unstable overall macroeconomic development, be influenced by significant uncertainties – as this was already the case for the financial year 2022 –, among others volatile capital markets, significant sensitivities as to interest rates impacting its investments, uncertainties on the development of inflation and a tendency of increasing losses resulting from natural catastrophes. For this reason and as in the past, no outlook on the results for the financial year 2023 is provided.