Helvetia's collective life business on a solid foundation - Number of active
insured persons continues to rise

Helvetia Holding AG / Key word(s): Annual Results
Helvetia's collective life business on a solid foundation - Number of active
insured persons continues to rise

30.05.2024 / 07:00 CET/CEST

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Media release
Basel, 30 May 2024

Helvetia Insurance's collective life business remains on a firm footing. In
the context of a year-on-year financial market recovery, the business
development was still characterized by the continued shift in the number of
insured persons towards semi-autonomous solutions. Overall, the number of
active insured persons increased by 8.5% during the year under review. On
the other hand, the overall result in 2023 decreased by a total of CHF 7.9
million compared to the previous year.

For the 2023 financial year, Helvetia reports a result of CHF 48.9 million
for occupational benefits (2022: CHF 56.8 million). At the same time, in the
year under review the surplus fund was increased further in the business
subject to the minimum distribution ratio and currently amounts to CHF 175.9
million (previous year: CHF 162.5 million).

Helvetia LOB Invest with assets under management of more than CHF 1 billion
The Helvetia LOB Invest collective foundation benefited from the continuing
trend towards semi-autonomous solutions and achieved assets under management
of over CHF 1 billion for the first time in 2023. The continued shift in the
number of insured persons towards semi-autonomous solutions is also
reflected in the fact that the number of all active insured persons at
Helvetia increased by 8.5% in 2023 to 216,700 (2022: 199,708), whereas the
number of persons with full-insurance coverage declined by 7.9% to 72,741
(2022: 78,947). Accordingly, operating expenses per active insured person
declined from CHF 429 to CHF 420.

Hedwig Ulmer, Head Pension Provisions and Member of Executive Management
Switzerland at Helvetia, is committed to a broad diversification of the
product range: "Helvetia offers a full range of occupational benefits
solutions. Our customers can thus receive optimum service in line with their
individual preferences and needs."

Premium volume slightly lower year on year
The premium volume for Helvetia's occupational benefits business amounted to
CHF 1,776.3 million, around 5.0% lower than in the previous year (2022: CHF
1,861.6 million). This trend is due primarily to the continued shift from
full insurance to semi-autonomous solutions and the related decline in
savings premiums. This decline in savings premiums was offset by a 7.7%
increase in risk premiums in the year under review, while cost premiums
declined by 0.3%.

Strong net performance and solid operating result
In 2023, the financial markets largely recovered from the challenges of the
previous year. They benefited from a robust economy and the imminent end of
the interest rate hike cycle. Net performance based on market values was a
gratifying 5.9% in 2023. The return according to the Swiss Code of
Obligations, which is relevant for the operating account, was burdened by a
strongly negative currency result. The risk process, on the other hand,
showed a very positive development. Anja Göing-Jaeschke, Head Actuarial
Services Life Switzerland at Helvetia: "Helvetia also relies on stability
and long-term solutions for occupational benefits schemes. Accordingly, we
have focused on continuity in the surplus policy of recent years and can
thus make our surplus participation sustainable."

Increased surplus participation in the business subject to the minimum
distribution ratio
In its business subject to the minimum distribution ratio, Helvetia used a
total of CHF 346.7 million to the benefit of insured persons in 2023, which
equates to a payout ratio of 90.5% and diverges only marginally from the
previous year's figure (2022: 90.7%).

The share in the surplus is slightly above that of the previous year. In
business subject to the minimum distribution ratio, the balances were
credited with an interest rate of 1.0%. In accordance with the regulations
on the minimum distribution ratio, which relate to the distribution of
surpluses, in 2023 both a risk surplus and the interest surplus were paid
out.

Analysts Philipp Schüpbach Head Media Eric Zeller Senior
of Investor Relations Phone: +41 Communication Manager / Media

   58 280 59 23                                     Spokesperson Phone: +41 58 280 50
   (1)investor.relations@helvetia.ch                33 (1)media.relations@helvetia.ch
   1.                                               1.
   mailto:investor.relations@helveti                mailto:media.relations@helvetia.ch
   a.ch

About the Helvetia Group
Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to
become a successful insurance group with over 13,800 employees and more than
7.2 million customers. It has been enabling its customers to seize
opportunities and minimise risks for all that time - Helvetia is there for
them when it matters. Helvetia is the best partner and is present everywhere
that protection needs arise, with insurance, pension and investment
solutions from a single source as well as simple products and processes. The
insurance group knows the business, from mobile phone insurance and
insurance cover for the Gotthard Base Tunnel to the long-term investment of
customer assets. Helvetia develops and opens up new business models with
enthusiasm and drives forward its own business in a powerful and
future-oriented manner. It acts with foresight and responsibility in
everything it does: for the benefit of its shareholders, customers and
employees as well as its partners, society and the environment.
Helvetia is the leading all-lines insurer in Switzerland. In the Europe
segment comprising Germany, Italy, Austria and Spain, the company has firmly
rooted market positions for generating above-average growth. In the
Specialty Markets segment, Helvetia offers tailored special insurance and
reinsurance cover worldwide. With a business volume of CHF 11.3 billion,
Helvetia generated underlying earnings of CHF 372.5 million and an IFRS net
income of CHF 301.3 million in the 2023 financial year. The shares of
Helvetia Holding AG are traded on SIX Swiss Exchange.

Cautionary note
This document was prepared by Helvetia Group and may not be copied, altered,
offered, sold or otherwise distributed to any other person by any recipient
without the consent of Helvetia Group. The German version of this document
is decisive and binding. Versions of the document in other languages are
made available purely for information purposes. Although all reasonable
effort has been made to ensure that the facts stated herein are correct and
the opinions contained herein are fair and reasonable, where any information
and statistics are quoted from any external source such information or
statistics should not be interpreted as having been adopted or endorsed as
accurate by Helvetia Group. Neither Helvetia Group nor any of its directors,
officers, employees and advisors nor any other person shall have any
liability whatsoever for loss howsoever arising, directly or indirectly,
from any use of this information. The facts and information contained in
this document are as up to date as is reasonably possible but may be subject
to revision in the future. Neither Helvetia Group nor any of its directors,
officers, employees or advisors nor any other person makes any
representation or warranty, express or implied, as to the accuracy or
completeness of the information contained in this document.
This document may contain projections or other forward-looking statements
related to Helvetia Group which by their very nature involve inherent risks
and uncertainties, both general and specific, and there is a risk that
predictions, forecasts, projections and other outcomes described or implied
in forward-looking statements will not be achieved. We caution you that a
number of important factors could cause results to differ materially from
the plans, objectives, expectations, estimates and intentions expressed in
such forward-looking statements. These factors include: (1) changes in
general economic conditions, in particular in the markets in which we
operate; (2) the performance of financial markets; (3) changes in interest
rates; (4) changes in currency exchange rates; (5) changes in laws and
regulations, including accounting policies or practices; (6) risks
associated with implementing our business strategies; (7) the frequency,
magnitude and general development of insured events; (8) mortality and
morbidity rates; (9) policy renewal and lapse rates as well as (10), the
realisation of economies of scale as well as synergies. We caution you that
the foregoing list of important factors is not exhaustive; when evaluating
forward-looking statements, you should carefully consider the foregoing
factors and other uncertainties. All forward-looking statements are based on
information available to Helvetia Group on the date of its publication and
Helvetia Group assumes no obligation to update such statements unless
otherwise required by applicable law.


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End of Media Release

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   Language:       English
   Company:        Helvetia Holding AG
                   Dufourstrasse 40
                   9001 St.Gallen
                   Switzerland
   E-mail:         media.relations@helvetia.ch
   Internet:       www.helvetia.com
   ISIN:           CH0466642201
   Valor:          46664220
   Listed:         SIX Swiss Exchange
   EQS News ID:    1914075

End of News EQS News Service
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1914075 30.05.2024 CET/CEST