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1 Investor Presentation 1Q
2 Tawuniya Overview 2
3 Our Company Headquartered in Riyadh, KSA Strategic Business Units: Motor, Health, Property & Casualty and Investments Significant presence across all regions in the KSA Multiple distribution channels and products One of the leading Insurance company in the Kingdom Tawuniya Establishment Vehicle Liability Insurance Compulsory Act (TP) IPO to float 70% of the total capital. Launched a new corporate identity. Increased the paid up capital to SR 1000 million Introduced medical insurance plans and other individual products. Received the first license from SAMA. Introduction of 90% surplus to SH as per SAMA rules. A credit rating assigned by S&P for the first time. The application of health insurance compulsory for the expatriates. 3
4 Our products Motor Insurance Al-Shamel Sanad Sanad Plus Rukhsa Medical Balsam My Family Group Medical Group Takaful Property & Casualty Engineering Fire & Property Marine Aviation Energy Our structure SBUs Motor Medical & Takaful Property & Casualty Investments Distribution Sales Channels Key Accounts GRC Risk Management Compliance BOD & CEO Committees Internal Audit Support Functions Finance Marketing Human Resources SS, SMO & ISD 4
5 Our owners & capital base Ownership: Long-term Investors Public, 53% GOSI, 23% PPA, 24% Public Pension Agency (PPA) A 100% Saudi Government Owned entity, since its establishment in Agency caters to the benefit plan for Military & Civil Retirees. General Organization for Social Insurance (GOSI) A Saudi Government Owned entity, implementing social insurance rules for Private Sector Employee. Decent Capital Base The highest growth paid up capital SR 250 M SR 500 M SR 750 M SR 1,000 M
6 Tawuniya leading insurer in KSA Medical & Takaful* Property & Casualty* Motor* 75% 25% 80% 20% 88% 12% Tawuniya Market Share Others Market Share *As of 31-Dec
7 Tawuniya top rated in the region KSA Kuwait Bahrain UAE Qatar Oman A Hannover Re Arab Orient QIC A- Al-Ahleia Gulf Insurance ADNIC Oman Doha insurance BBB+ Saudi Re Malath Medgulf Trust Salama National General Ins. Al Buhaira BBB Wataniya Bahrain National Bahrain Kuwait Takaful Int l Takaful Re Ins. & Reins Oman United BBB- First Takaful S&P GCC Rating Mar
8 Major clients CONSTRUCTION ENERGY TRANSPORTATION COMMUNICATIONS Food, drugs & others FINANCIAL 8
9 Reinsurance partners Munich Re is rated AA- by S&P Swiss Re is rated AA- by S&P SCOR Global P&C is rated A+ by S&P LLOYD s is rated A+ by S&P MAPFRE is rated BBB+ by S&P CCR is rated AAA by S&P Transatlantic Re is rated A+ by AM Best 9
10 KSA Insurance Market 10
11 Insurance market today Regulations have positively impacted the overall market performance Several small insurers are struggling to maintain adequate solvency/capital margins Ease of re-capitalization is no longer being supported by the regulator Stern price competition among large insurers is still present Motor Third Party insurance penetration is still low but expected to increase with strong regulatory enforcement. Newly-introduced (i.e. Visit Visa), are expected to boost market premium growth. Market Q Q Variance GWP 11, , % Incurred Claims 5, , % Net Income % Loss-making Companies 7 10 Out of 34 11
12 Insurance regulators Overall (MOC) Primary operations (SAMA) Cooperative Health Insurance (CCHI) Shares & Listing (CMA) 12
13 Potential growth influencers Increase of awareness Expansion of compulsory insurance Mortgage Finance Law and other Acts Third Party Liability Law Professional indemnity Innovative products to meet needs of society 13
14 Tawuniya Strategy 14
15 Our long-term strategic pillars Market Leadership Profitability Customer Centricity To attain the optimal balance across all three strategic pillars 15
16 Our current strengths Brand/Balance sheet strength Strong network/connections in the market Recognized and trusted brand in the market Strong balance sheet with 'A' S&P rating (highest in GCC) Market leadership position supported by high renewal rates on a consistent basis Large tied agency network Network of tied agents with wide reach across the Kingdom (27 agents) Strong coverage on all major product lines Large talent pool & Databases Complete offering across Medical, Motor and P&C Largest insurance talent pool in KSA Vast data on market/ market performance Scale advantage Scale advantage with providers (hospitals, repair shops) Economies of scale in back office activities Our strengths allows us to act as industry pioneers while simultaneously adapting to changing market dynamics 16
17 Our differentiated capabilities Market leading expertise Superior customer service Leader in innovation Talent management Risk management across all lines of business With the customer at the center of all activities Pioneer in the application of digital technologies to insurance Recruiting, developing and retaining the best talent in the market place Continuous development of our capabilities allows us to grow sustainably while adhering to our long-term aspirations 17
18 Tawuniya s Key Financial Metrics 1Q
19 Key Parameters sustainable growth Technical Reserves (in SR Millions) Total Assets (in SR Millions) 6,017 6,023 7,160 6,910 3,729 4,225 7,384 8,218 9,965 9,939 11,569 11, Q 2016 Total Investments (in SR Millions) Q ,880 3,816 3,914 5,016 5,481 5, Q
20 Key Parameters premium earned Net Claims Incurred (in SR Millions) Gross Written Premiums (in SR Millions) 4,785 3,138 3,659 4,144 2,009 7, ,268 5,635 5,605 6,208 4, Q Q 2016 Net Earned Premium (in SR Millions) 1,506 1,701 5, Q Q ,098 3,951 4,728 4,804 1,285 1, Q Q
21 Loss Ratios efficient management Retention Ratio Loss Ratio Business Unit Level* 92.9% 77.5% 79.9% 82.8% 85.3% 85.1% 82.9% 81% 77% 65% 65% 46% 76% 73% Q Q % Combined Ratio 117.2% Medical Motor P&C Total FY 2014 FY % 94.6% 91.1% 91.8% 95.3% 94.2% *As of 31-Dec Q Q
22 Profitability growing trend Net Income Margins Net Income (in SR millions) Before Zakat 13.3% 7.5% 11.3% 10.3% 6.7% 2.8% Q % 1Q Q Q 2016 Total Investment Income (in SR Millions) Q Q Impairment Income 22
23 Thank You 23
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