INVESTOR PRESENTATION 18Q1

Transcription

1 INVESTOR PRESENTATION 18Q1 1

2 Company & Market Potential 3 Company Overview 9 Financial Highlights 17 2

3 Company & Market Potential Company Overview Financial Highlights 3

4 Premium Production Number of Companies (18Q1) Non Life 39 Life 22 Reinsurance 2 Total 63 Number of Foreign Shared Companies (18Q1) Non Life 26 Life 18 Reinsurance 1 Total 45 Premium Production ( Bn) 35,4 39,7 Premium 17Q4 27,3 3,8 5,0 6, SOURCE: Association of Insurance Companies Non-Life Life Non Life Life 4

5 Mandatory Policies in Turkey (Earthquake & MTPL) EARTHQUAKE MTPL 17,7 million houses 52,6% of houses are non-insured SOURCE: turkstat, State Planning Organization, Association of Insurance Companies, bkm, tramer, TCIP 22,2 million vehicles 22,1% of vehicles are non-insured 5

6 Non-Life Trends in the Sector Non-Life Premium Per Person Premium / GDP (%) Premium Per Person ($) World 2, USA 4, UK 2, Switzerland 4, Poland 1, Premium($) Premium(TRY) Turkey 1, SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2017 6

7 Top 10 Companies in the Sector-18Q1 Non Life Companies Premium Production ( Mn) Allianz 11,6% Allianz Anadolu Other 33,5% Anadolu 10,9% Ak 931 Ziraat 845 Ak 7,4% Axa 840 Top 5 Companies to Top 10 Companies Other Total to 10 23,3% Axa 6,6% Ziraat 6,7% SOURCE: Association of Insurance Companies 7

8 Non-life Companies Premium Production Anadolu Sigorta ( Mn) Non-Life Sector ( Mn) 18Q1 17Q1 ΔYoY 18Q1 17Q1 ΔYoY Branch GPW GPW Growth GPW GPW Growth MTPL % % MOD % % Fire and Nat. D % % Health % % Other % % Total % % SOURCE: Association of Insurance Companies 8

9 Company & Market Potential Company Overview Financial Highlights 9

10 History o Founded by Mustafa Kemal Atatürk in 1925 o First national insurance company o Main activity: Non-life insurance(until 1991, both life and non-life) o group company 10

11 Shareholder Structure (18Q1) Other 43% Milli Reasürans Türk Anonim Şirketi ,3% Trakya Yatırım Holding A.Ş ,0% QİNVEST Portföy ,7% Other ,0% Total ,0% (*)Milli Reasürans 57% (*) 77% of Milli Reasürans is owned by T. İş Bankası 11

12 Distribution Channels(18Q1) İstanbul (2) Samsun Trabzon Bursa Ankara İzmir Adana Gaziantep Antalya Professional Agencies Işbank Branches N. Cyprus ~25% working exclusively with Anadolu Working exclusively with Anadolu 12

13 Distribution Channels (18Q1) Indirect 12% Direct 1% Broker 14% 14% Agency 59% 13

14 Bancassurance Potential o Share of production 14% as of 18Q1 o 192 mn GWP in 18Q1 15 M İşbank Customer mn mn mn mn mn 14

15 Production by Regions (18Q1) Marmara 56,2% Black Sea 6,5% Aegean 9,2% Middle Anatolia 14,7% East Anatolia 2,4% Mediterranean 7,9% South East Anatolia 3,1%

16 Production by Branches (1Q18) BRANCHES 18Q1 17Q1 Rank 18Q1 Market Share 18Q1 Growth MTPL % 29% MOD % 23% Fire % 13% General Liability % 18% Watercraft % 11% Aircraft % 127% Aircraft Liability % -3% Health % 19% General Losses % 38% Other % TOTAL ,9% 23% SOURCE: Association of Insurance Companies 16

17 Profitability Combined Ratio 18Q1 17Q1 YoY(%) MOD 97,8% 98,7% -0,9% MTPL 120,2% 95,5% 25,9% Fire 84,2% 90,4% -6,9% Health 109,8% 105,8% 3,8% P.Accident 121,5% 68,4% 77,6% Total 107,3% 102,7% 4,5% 103% 107% 107,1% 107,5% 107,3% 9% 9% 9% 9% 10% 14% 15% 15% 14% 15% 80% 83% 83% 85% 83% Q18 Claims Ratio Net Comm. Ratio Expense Ratio 17

18 Company & Market Potential Company Overview Financial Highlights 18

19 Growth Performance Total Assets (mn TRY) (*) 5% Tech. Reserves (mn TRY) 3% Q Q1 Cash and Marketable Sec. (mn TRY) (*) % Shareholders' Equity (mn TRY) -1% Q Q1 (*) Financial loans excluded for 2015,2016, 2017 and 18Q1 19

20 Financial Statements ,0% ,6% 16,0% ,2% 14,0% 12,0% ,0% ,0% ,6% ,9% 7,4% 6,0% 4,0% ,0% Q1 Assets Shareholder's Equity Investment Portfolio Net Profit ROAE 0,0% 20

21 Balance Sheet Assets 18Q Liabilities 18Q Cash + Marketable Sec Equity Participations Other Assets Assets Technical Provisions Shareholders' Equity Other Liabilities Liabilities %6 increase in liquid assets %6 increase in total assets 21

22 Income Statement 18Q1 ( mn) P&L 18Q1 17Q Change (%) (YoY) Change (%) (QoQ) Tech. Income (*) % -2% Tech. Expenses % 0% Net Financial Inc. + Other Exp. (*) % 29% Deferred Tax % -236% Gross Profit % 57% Tax % 246% Net Profit % 28% (*) Financial income transferred to technical division is excluded 22

23 Core Indicators (TRY) 18Q Change (18Q1-2017) Mcap 2.080mn 1.550mn 34% Equity (Book Value) 1.628mn 1.639mn 0% P / BV 1,28 0,95 35% ,3% 1,4% ,7% 0,7% 0,8% 1,0% ,2% 1,0% 0,8% ,6% 0,4% 0,2% Q1 Mcap Equity P/BV 0,0% 23

24 Profitability 21,46 17,74 18,93 15,40 7,70 9,90 5,90 8,70 7,40 10, Q18 ROE - ANHYT Excluded ROE - Consolidated 24

25 Highlights-18Q1 Improving Financials Recovering MOD Net Profit Combined Ratio (%) 85,4 109,1 98,7 102,8 110,6 107,5 97,8 61,7 24,3 12,8 1Q17 2Q17 3Q17 4Q17 1Q18 1Q17 2Q17 3Q17 4Q17 1Q18 25

26 Investment Portfolio Bonds 9% Stocks 4% Other 0% In 18Q1; Dividend from ANHYT 34 mn TRY Investment Income * 172 mn TRY Funds 11% TRY 4,29 bn Average Portfolio Income ~ 16,5% * ANHYT dividend excluded. Deposits 76% Booked Value: 641 Mn Deposits Funds Bonds Stocks Other TRY 4,12 bn at

27 Thank you For further information please to: or call Anadolu Sigorta Investor Relations on ( ), ( ) This presentation contains forward-looking statements and information on the business development of Anadolu Sigorta. These statements may be spoken or written and can be recognized by terms such as expects, anticipates, intends, plans, seeks or words with similar meaning. These statements are based on assumptions relating to the development of the economies of individual countries, and in particular of the insurance industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to press. The estimates given involve a degree of risk, and the actual developments may differ from those forecasts. Anadolu Sigorta does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its content due to misleading information in this document. 27