Media release
St.Gallen, 31 October 2022

Helvetia is launching the successful business model of the leading Swiss online insurer Smile in Austria – its first step towards internationalization. The goal is to establish Smile as the leading online insurer in this market by the end of the helvetia 20.25 strategy period.

As announced in the spring, Smile will first be marketed in Austria. The insurance market there is similar to that in Switzerland; it is digital but not yet well developed, however with people who are used to operating online. Helvetia is therefore taking its unique success model to other European markets, step by step. Philipp Gmür, CEO of the Helvetia Group, explains: "The internationalization of Smile is a further step towards Helvetia's development into a European financial services provider for insurance and pensions." The Smile Austria products will initially be distributed via durchblicker.at as an established partner. The product range will kick off with the household contents insurance smile.home and will be continuously expanded.

Smile is the leading Swiss online insurer and has continued to develop well: in 2021, Smile posted premium growth of 11.8% to CHF 111 million. The basis for Smile's success is its positioning as a digital lifestyle brand. For instance, in 2021, Smile was the first European insurer to launch a "freemium" model, allowing non-customers to also benefit from free services. After Austria, Helvetia is planning to launch Smile in Spain in 2023.

About the Helvetia Group
Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to become a successful insurance group with over 12,000 employees and more than 7 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 11.22 billion, Helvetia generated IFRS net income after tax of CHF 519.8 million in the 2021 financial year. The shares of Helvetia Holding AG are traded on SIX Swiss Ex-change.

About Smile Switzerland
With over 170,000 customers but no blah-blah, Smile is Switzerland's fast-growing online insurer. With a business model that complements traditional insurance, it offers customers the best digital insurance experience via the Smile app, with fair premiums, top-quality service – and everything 100% online.

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.