Helvetia reports a robust result for 2023, increases its dividend and successfully implements its strategy

Helvetia Holding AG / Key word(s): Annual Results Helvetia reports a robust result for 2023, increases its dividend and successfully implements its strategy 11-Apr-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR St.Gallen, 11 April 2024

The most important details about the 2023 annual financial statements at a glance:

Core business forms basis for dividend increase

• Helvetia generated underlying earnings of CHF 372.5 million in the 2023 financial year (2022: CHF 492.9 million). The result was influenced by extraordinarily high claims from natural catastrophes and large claims events in the non-life business in Switzerland and Europe. The life insurance business reported a solid result slightly above that of the previous year.
• IFRS net income stood at CHF 301.3 million (2022: CHF 480.2 million). Unlike in 2022, a one-time profit of CHF 87.2 million from the sale of a Spanish life insurance company was no longer included in the result.
• The Board of Directors will propose to the Annual General Meeting that the dividend for the past financial year be raised by CHF 0.40 to CHF 6.30 per share.

Marked resilience thanks to financial strength and diversification

• In a challenging market environment, Helvetia benefited from its robust financial strength and diversified business base. The S&P Global Ratings (S&P) rating agency recently confirmed its "A+" rating for Helvetia.
• Helvetia's resilience is also reflected in its capitalisation, which remains excellent. The SST ratio was estimated to be over 280% as at 1 January 2024.

Helvetia taps into attractive growth opportunities with its strategy