Group Affirms Full-year Outlook

MUNICH--(BUSINESS WIRE)--August 10, 2023

2Q 2023:

• Total business volume surges 5.9 percent to 39.6 billion euros
• Operating profit increases 7.1 percent to 3.8 billion euros; strong performance particularly in Life/Health and Property-Casualty business segments
• Shareholders’ core net income jumps by 22.9 percent to 2.5 billion euros

6M 2023:

• Total business volume rises 4.8 percent to 85.6 billion euros
• Operating profit increases 14.9 percent to 7.5 billion euros: primarily driven by Life/Health and Property-Casualty business segments
• Shareholders’ core net income up 90.2 percent to 4.7 billion euros
• Excellent Solvency II capitalization ratio of 208 percent, compared with 201 percent at the end of 4Q 20221

Outlook:

• 2023 operating profit target confirmed at 14.2 billion euros, plus or minus 1 billion euros2

Other:

• Share buy-back of up to 1.5 billion euros on track: 2.9 million shares acquired for 0.6 billion euros until the end of July 2023.