INTERMONTE SIM. Le eccellenze del made in Europe. Firenze, May, 2016

Transcription

1 INTERMONTE SIM Le eccellenze del made in Europe Firenze, May, 2016

2 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 2

3 OUR STRATEGY AT A GLANCE PROFITABILITY FOCUS ON TECHNICAL RESULTS DECREASE OF THE COST RATE IN THE MEDIUM TERM CLIENTS INTERNAL ORGANIC GROWTH TARGET CLIENT: FAMILIES, SMALL/MEDIUM SIZED COMPANIES AND AFFINITY GROUPS INVESTMENTS LOW RISK INVESTMENT PORTFOLIO STABILIZATION OF REAL ESTATE CAPITAL POLICY SELF-FINANCING AND CONSOLIDATION OF THE CURRENT SOUND CAPITAL POSITION AVERAGE ANNUAL DIVIDEND GROWTH: +5% 3

4 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 4

5 BUSINESS PLAN Decrease in life volumes due to the recent change in strategy TARGET 2016 AVERAGE AVERAGE PREMIUM GROWTH NON LIFE +5% 5.1% 3.5% 6.1% +4.9% LIFE +15% 48.9% -12.9% -19.7% +5.4% AVERAGE COR 92% 90.7% 89.1% 89.8% 89.9% AVERAGE CONSOLIDATED ROE AVERAGE ANNUAL DIVIDEND GROWTH 13.5% 15.0% 13.1% 14.4% 14.2% +5% 5.6% 5.3% 5.0% +5.3% 5

6 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 6

7 SHAREHOLDERS STRUCTURE YAFA HOLDING BV (Carlo Acutis) 82% 12% 6.53% VITTORIA CAPITAL S.P.A. MÜNCHENER GROUP 51.15% VITTORIA ASSICURAZIONI S.P.A. FREE FLOAT 32.56% Real Estate Private Equity Services Other Strategic Participations 7

8 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 8

9 NON-LIFE PREMIUM VOLUMES 2016 growth due to motor sundry damages and non-motor LOBs Volumes steady growth is still affected by price competition / ML +5.1% +3.5% +6.1% Non-Motor +3.4% +0.2% +13.2% Other Motor +12.2% +11.0% +10.2% MTPL +3.9% +2.6% +2.3% MARKET -2.7% -2.4% 9

10 RETAINED COMBINED RATIO 2015 direct business Loss ratio: 66.2% (66.4% in 2014) Large losses have been offset by reinsurance Cost Ratio Loss Ratio 10

11 RETAINED COMBINED RATIO MOTOR Assumed pick up in motor loss frequency in 2016 Cost Ratio Loss Ratio 11

12 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 12

13 LIFE PREMIUM VOLUMES Strategy is aimed at limiting the policies linked to segregates funds, due to the persistence of low interest rates Increase in technical reserves / ML Technical Reserves Recurrent business % % % New business MARKET +29.9% +4.0% 13

14 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 14

15 INVESTIMENTS Stable investment portfolio mainly consisting of Government bonds Planned diversification of non life portfolio out of Italian government bonds. / ML 2, % 3, % 3, % % 9.3% Other Investments* % % % Real Estate % Bonds and Liquidity 1, % 2, % 2, % * Other Investments: Subsiadiary and associates, Shares, Mutual funds and Loans 15

16 OUR STRATEGY AT A GLANCE BUSINESS PLAN SHAREHOLDERS STRUCTURE NON LIFE BUSINESS LIFE BUSINESS INVESTMENTS OTHER FINANCIAL INFORMATION 16

17 DIVIDENDS POLICY Target annual average dividend growth : +5% / ,180 11,184 11,454 11,454 11,454 12,128 12,802 13,476 4,872 5, * Bonus capital increase in

18 CONSOLIDATED RESULT - KPI 2015 results are penalised by the restatement of the deferred tax assets ( 9.5 ML) following the Law Stabilità 2016 Solvency I ratio 202% 228% 247% Consolidated ROE 15.0% 14.4% 13.1% / ML Net Group Result 18

19 LEGENDA PREMIUM Written premium direct business - Classified by internal Line of Business LOSS RATIO RETAINED BUSINESS - Classified by internal Line of Business Incurred claims / Earned premium COST RATIO RETAINED BUSINESS - Classified by internal Line of Business Total expenses (no investment and settlement costs) + amortisation + other technical charges/ Earned premium COMBINED RATIO RETAINED BUSINESS - Classified by internal Line of Business (Incurred claims + Total Expenses (no investment) + amortisation + other technical charges) / Earned premium CONSOLIDATED ROE Group net profit for the year/group average shareholders equity (group opening shareholders equity + closing shareholders equity / 2). Equity is net of reserves for unrealised gains / losses SOLVENCY RATIO I Solvency margin available/solvency margin required 19