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Vienna, 13 May 2026 – UNIQA Insurance Group AG has successfully placed a new subordinated Tier 2 bond with a volume of EUR 500 million in the European capital markets and, at the same time, executed the buyback of outstanding Tier 2 bonds. Results of the buyback were announced on 13 May 2026, with settlement scheduled for 15 May 2026. Under the tender offer, EUR 148.5 million in principal amount of the outstanding Tier 2 notes were validly tendered and accepted for purchase at a price of 100.750% of the principal amount. Following settlement on 15 May 2026, EUR 177.8 million of the original Tier 2 notes will remain outstanding.
This combined transaction strengthens UNIQA’s capital base, extends the maturity profile of its financing and further enhances the Group’s long-term stability and the predictability of its regulatory own funds.
Strong vote of confidence from the capital markets
“The very strong interest in our new subordinated Tier 2 bond is a clear vote of confidence from investors in UNIQA’s financial strength and strategic direction. Demand significantly exceeded the volume offered. This demonstrates that our disciplined approach to capital management and the consistent execution of our UNIQA 3.0 – Growing Impact strategy are clearly recognised by the capital markets,” said Kurt Svoboda, CFO/CRO of UNIQA Insurance Group AG.
Exceptionally successful new issuance
The new Tier 2 bond, with a maturity of 20 years and a first call date after 9.5 years, met with exceptionally strong demand from institutional investors in Austria and internationally and was 5.6 times oversubscribed. With a fixed coupon of 4.5% for the first ten years, the transaction currently ranks among the top three most attractive Solvency II Tier 2 callable euro-denominated bonds issued in the European insurance sector over the past four years.
Best refinancing terms in the Group’s history
With this transaction, UNIQA achieved the tightest bond spread ever recorded by the Group, as well as a coupon that is significantly lower than the sector average. These conditions reflect UNIQA’s strong standing as a reliable issuer and enable the Group to secure sustainably lower financing costs and additional financial flexibility.
Early buyback strengthens capital structure and solvency
In parallel with the new issuance, UNIQA refinanced and redeemed 45.5% of a subordinated Tier 2 bond issued in 2015 with an outstanding volume of EUR 326.3 million, which is first callable in July 2026 and would have matured in 2046. The buyback forms part of a deliberately coordinated refinancing step and contributes to smoothing the Group’s maturity profile.
The repurchased bonds carried coupons of 6.00% p.a.. The buyback was executed close to current market prices and at a premium to nominal value.
Overall, the transaction is expected to slightly increase UNIQA’s Solvency II ratio, thereby further strengthening the Group’s already solid capital position. In the short term, the buyback will result in a one-off expense, which will be fully recognised in the 2026 financial year. The Group’s existing outlook for 2026 remains unchanged.
Greater flexibility for growth and strategic development
With the new subordinated Tier 2 bond, UNIQA further enhances the stability and reliability of its capital base. The additional capital provides greater flexibility to pursue organic and inorganic growth in Central and Eastern Europe as part of the UNIQA 3.0 – Growing Impact strategy and to further advance the Group’s AI transformation. The transaction refinances existing Tier 2 instruments and has no impact on UNIQA’s dividend policy and is not expected to affect the Group’s credit ratings.
Overview Ah hoc and press releases:
UNIQA strengthens capital base through early tender offer and new Tier 2 issuance
Ad hoc 1
UNIQA launches tender offer for the repurchase of subordinated (Tier 2) bonds issued in 2015 and intends to issue a new EUR 500 million fixed-to-floating rate subordinated (Tier 2) bond
Ad hoc 2
UNIQA Insurance Group AG successfully places new EUR 500,000,000 fixed to floating rate subordinated (Tier 2) notes
S&P
Austria-Based Multiline Insurer UNIQA Insurance Group AG's Proposed Notes Rated 'BBB+'
Legal notice/disclaimer:
This communication is for information purposes only and does not constitute an offer to sell or an offer or solicitation to buy or subscribe to securities, nor does it constitute financial analysis or advice or a recommendation relating to financial instruments. The securities have not been and will not be registered under foreign securities laws, in particular not under the U.S. Securities Act of 1933, as amended ("Securities Act") and may not be offered or sold, in particular in the United States of America ("USA"), without registration or exemption from the registration requirements under the Securities Act.
This communication is not intended for distribution in or within the USA, Australia, Canada or Japan or any other country where such distribution or dissemination would be unlawful and may not be distributed or forwarded to publications with a general circulation in the USA. There will be no public offering of securities in the USA.
The liability management transaction referred to herein was not made, directly or indirectly, in or into the United States by use of the mails or by any means or instrumentality (including, without limitation, e-mail, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or of any facility of a national securities exchange of the United States and the tender offer could not be accepted by any such use, means, instrumentality or facility or from within the United States.
This communication does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Prospectus Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation"). The offer and sale of the New Notes was made pursuant to an exemption under the Prospectus Regulation from the requirement to produce a prospectus for offers of securities.
A listing prospectus was prepared for the purpose of admitting the New Notes to trading on the Official Market of the Vienna Stock Exchange which is available for download free of charge in electronic form from UNIQA's website at https://www.uniqagroup.com/grp/investor-relations/debt-investors.en.html.