Earnings release
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First half of 2026: Vaudoise Assurances Group strengthens its position in the Swiss non-life insurance market Event announcement as defined in Article 53 of the Commercial Code Share on: IN BRIEF Lausanne, September 2, 2026 – Vaudoise Assurances Group reports a net profit of CHF 82.9 million for the first half of 2026. Revenue reached CHF 1,167.7 million. Non-life business grew by 6.7%, significantly exceeding market growth. In short Consolidated net profit of CHF 82.9 million, up 3.0% compared to June 30, 2025 restated. Sales revenue increased by 6.5% to CHF 1,167.7 million, including a 6.7% increase in gross written premiums in non-life business. Solid investment results with a non-annualized return of 1.3% compared to 1.4% a year earlier. Combined ratio of 96.1% versus 97.4% on June 30, 2025 restated. Strong Group capitalization with a solvency margin of 336.5%. Equity stands at CHF 2,775.6 million, up 4.5% compared to December 31, 2025. “For the past five years, our company has recorded growth exceeding the market average in the non-life sector. A performance that contributes to the Group's excellent results in the first second half of 2026 Jean-Daniel Laffely, CEO of Vaudoise Assurances
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Non-Life Business: Continued Strong Growth. Gross written premiums saw a significant increase of 6.7% in the non-life insurance sector. This very strong result was driven by non-life personal insurance as well as positive development in the P&C business in the liability and property lines. In the first half of 2026, growth in the non-life personal insurance business remained robust at 8.4%, including 7.0% in health and 10.2% in accident. Motor vehicle premium growth lagged behind the market average. Claims costs remained high in this area. Vaudoise, like most motor vehicle insurers in Switzerland, has taken steps to address the rising claims costs. Property insurance recorded excellent growth of 11.2%, well above the market average (5.4%). In this sector, pet insurance, with the Epona and Animalia brands, represented CHF 29.0 million in premiums as of June 30, 2026. Gross claims expenses amounted to CHF 461.8 million, compared to CHF 429.1 million as of June 30, 2025. The combined ratio in non-life insurance improved by 1.3 percentage points (96.1% as of June 30, 2026, compared to 97.4% as of June 30, 2025, restated) due to an improved claims ratio (claims expenses / premiums). This result was achieved despite the financial impact of the Crans-Montana tragedy earlier this year. The Vaudoise Assurances Group is progressing in all regions of Switzerland. Net written premiums, in particular, increased by 7.6% in German-speaking Switzerland. Life insurance on the rise. In life insurance, single premiums grew by 5.3%, primarily due to the Serenity Plan product, while periodic premiums decreased by 2.1%. Stable investment performance. The Group's strategy, based mainly on investment categories providing regular income, continued in the first half of 2026 in an uncertain economic environment. The non-annualized return on our investments, as shown in the income statement, amounted to 1.3% in 2026, stable compared to the first half of 2025 (1.4%). Equity at a record level. At the end of the first half of 2026, the Group's equity stood at over CHF 2.7 billion, up 4.5% (CHF 120.0 million) compared to the end of 2025. Over the past ten years, the Company's consolidated equity has increased by 60%. The Group's solvency margin remains very solid at 336.5% as of June 30, 2026, down compared to December 31, 2025 (344.3%). As announced in March 2026, a change in accounting principles regarding the capitalization of intangible assets was implemented in 2025 to comply with the Conceptual Framework of Swiss GAAP RPC. Therefore, references to figures for the first half of 2025 in this press release refer to restated figures. Outlook Building on its excellent results in the first half, the Group approaches the second half of the year with confidence and confirms its growth prospects in non-life insurance for 2026. Annual claims will nevertheless remain dependent on natural events in the second half, particularly during the traditionally more exposed months of August and September. The strategy of complementarity continues to bear fruit and strengthen the Group's value creation. In an environment marked by market volatility and geopolitical uncertainties, the Company maintains a disciplined strategic allocation fully aligned with its risk-taking capacity. The integration of Procimmo Group SA from July 1, 2026, in accordance with the provisions of Swiss GAAP RPC, will have an impact on the Group's results and equity during the second half of 2026. The digital transformation of our organization is accelerating across all areas. Digitizing our processes simplifies administrative procedures, accelerates claims processing, and improves the transparency of our services. Furthermore, a new milestone was reached last February with the launch of our Customer Portal for businesses, offering greater simplicity and autonomy. Governance: Cédric Moret will be proposed as Chairman of the Board of Directors. In view of the 2027 Annual General Meetings, the Board of Directors will propose the election of Cédric Moret as Chairman, replacing Philippe Hebeisen, who will leave his position on that occasion, after seven years as Chairman of Vaudoise Assurances and eleven years as CEO. For more information:
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This press release and the 2026 half-year report are available on the Vaudoise Group website: • Press release • 2026 half-year report Consolidated key figures (unaudited) (in millions of CHF) Profit and Loss Account 30.06.2026 June 30, 2025 - Retired Revenue 1,167.7 1,096.7 - Gross premiums issued for non-life insurance 1,092.3 1,023.5 - Gross premiums issued for life insurance 50.4 50.2 - Products from services rendered 25.0 23.1 Overhead costs 210.3 205.5 Profit for the period 82.9 80.5 Non-life combined ratio 96.1 97.4 Return on investments in the profit and loss account (not annualized) 1.3% 1.4% Balance sheet 30.06.2026 31.12.2025 Gross technical provisions 5,328.0 4,958.8
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Investments 7,659.0 7,621.1 Equity (before profit distribution) 2,775.6 2,655.5 Return on equity (annualized) 6.1% 6.0% For further information, please contact: Valérie Beauverd, communications expert in charge of media relations, +41 21 618 87 25, media@vaudoise.ch Vaudoise Assurances Group is the only independent, privately owned insurance company with its decision-making center in French-speaking Switzerland. It is among the ten largest private insurers in the Swiss market. Founded in 1895, it has recognized expertise in all areas of insurance, pension planning, and asset management. Customers benefit from local service at its branches, both for advice and claims settlement. The Group employs more than 2,000 full-time equivalent (FTE) employees, including approximately 100 trainees. True to its cooperative origins, Vaudoise returns a portion of its profits to its policyholders in the form of premium rebates. In 2026-2027, CHF 40 million was redistributed. The shares of Vaudoise Assurances Holding SA are listed on the SIX Swiss Exchange (VAHN).