THE INFORMATION CONTAINED HEREIN IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN.
Vienna, 6 May 2026 – UNIQA Insurance Group AG is taking another targeted step in its forward‑looking capital management. On 5 May 2026, the Group launched a tender offer for a subordinated Tier 2 bond issued in 2015 and, at the same time, has successfully placed a new Tier 2 benchmark bond with a volume of EUR 500 million. The bond was successfully placed with institutional investors in Austria and internationally, underlining strong market demand for UNIQA’s subordinated capital. The issue price was set at 99.369 % of the principal amount. They bear interest at a fixed rate of 4.5 % per annum during the first ten years and at a floating interest rate of 3-month EURIBOR (or relevant replacement rate) plus margin (including a 100bps step-up) thereafter. The transaction is contributing to capital stability, predictability and regulatory quality of UNIQA’s capital base.
Proactive action to secure stability: UNIQA opts for early refinancing
The tender offer for the outstanding nominal value of EUR 326.3 m of EUR 500m Subordinated Fixed to Floating Rate Notes with scheduled maturity in 2046 is being launched ahead of the first issuer call date on 27th July 2026. UNIQA is deliberately taking advantage of a favorable market window to refinance existing Tier 2 capital in a timely and controlled manner, thereby positioning itself independently of short‑term market volatility or increased refinancing pressure.
“This transaction represents another building block of our disciplined capital management under the UNIQA 3.0 – Growing Impact strategy. By executing the tender offer ahead of the call date and issuing a new benchmark T2 instrument, we retain full control over timing and allow existing investors to roll over their excess liquidity into a new bond”, says Kurt Svoboda, CFO/CRO of UNIQA Insurance Group AG. “The fact that we are ahead of plan in implementing our strategy – supported by strong profitability and capital strength – enables us to act proactively and consistently align our capital allocation with our strategic objectives. In this way, we secure stability, planning certainty and the regulatory quality of our capital base over the long term.”
Strengthening capital and supporting future growth
The tender offer for the outstanding bond is subject to the successful completion of the new issuance. Overall, the transaction will slightly increase UNIQA’s Solvency II ratio, further reinforcing the Group’s already strong capital position. In the short term, a one‑off cost will arise from the tender offer at a premium to par, which will be fully recognised in the 2026 financial year; UNIQA’s outlook for 2026 remains unchanged. Final results of the tender offer are expected to be announced shortly after the end of the offer period on 13 May 2026.
With the new Tier 2 bond, UNIQA is further strengthening the stability and reliability of its capital base. The transaction not only refinances existing Tier 2 instruments, including the tender offer, but also provides additional financial flexibility for general corporate purposes and supports UNIQA’s growth ambitions and long‑term strategic development. The transaction does not affect UNIQA’s dividend policy and is not expected to impact the Group’s ratings.
Clear signal to investors and rating agencies
With this transaction, UNIQA underscores its commitment to active capital management. Early refinancing is widely regarded in the capital markets as a sign of financial strength and strategic foresight – particularly in an environment characterised by geopolitical uncertainty and volatile financial markets.
This course is also confirmed by external assessments: in its accompanying press release, Standard & Poor’s highlights UNIQA’s forward‑looking capital management and the Group’s robust capitalisation. The rating agency notes that the early and controlled refinancing of capital instruments enhances financial flexibility and contributes to the long‑term stability of the capital base – especially in a market environment marked by elevated uncertainty. (insert link)
Acting from a position of strength: Consistent execution of the “UNIQA 3.0 – Growing Impact” strategy
The transaction is fully aligned with the Group’s UNIQA 3.0 – Growing Impact strategy. “Following a 2025 financial year with record results, a strong solvency ratio and strategic targets clearly exceeded, UNIQA is able to act from a position of strength,” says Svoboda. “We optimise our capital base precisely when it is strategically appropriate – in a forward‑looking, disciplined manner and in line with our sustainable growth and dividend strategy.”
Overview Ah hoc and press releases:
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+'
UNIQA Group
The UNIQA Group is one of the leading insurance companies in its core markets of Austria and Central and Eastern Europe (CEE). Around 21,000 employees and exclusive sales partners serve more than 18 million customers across 14 countries.
UNIQA is the second largest insurance group in Austria with a market share of about 21 per cent. In the CEE growth region UNIQA is present in 11 markets: Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Montenegro, Poland, Romania, Serbia, Slovakia and Ukraine. In addition, insurance companies in Switzerland and Liechtenstein are also part of the UNIQA Group.
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 is not being 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 cannot 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 will exclusively be prepared for the purpose of admitting the New Notes to trading on the Official Market of the Vienna Stock Exchange. Once approved by the Austrian Financial Market Authority, the listing prospectus will be 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.