INVESTOR PRESENTATION 18Q3

Transcription

1 INVESTOR PRESENTATION 18Q3 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 Non Life 39 Life 23 Reinsurance 2 Total 63 Number of Foreign Shared Companies Non Life 26 Life 18 Reinsurance 1 Total 45 Premium Production ( Bn) 35,4 39,7 18M9 (bn TRY) Life 5,4 14% 27,3 Non-Life 34,0 86% 5,0 3, ,8 SOURCE: Association of Insurance Companies Life Non-Life Non Life Life 4

5 Mandatory Policies in Turkey (Earthquake & MTPL) EARTHQUAKE MTPL & MOD 17,7 million houses 22,5 million vehicles 52,6% of houses are non-insured 22,7% of vehicles are non-insured (MTPL) 74% of vehicles are non-insured (MOD) SOURCE: turkstat, State Planning Organization, Association of Insurance Companies, bkm, tramer, TCIP 5

6 Non-Life Trends in the Sector Non-Life Premium Per Person Premium / GDP (%) Premium Per Person ($) World 2, USA 4, UK 2, Switzerland 4, Poland 2, Premium($) Premium(TRY) Turkey 1, SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2018 6

7 Top 10 Non-Life Companies in the Sector-18Q3 ( Mn) Premium Production 18M9 Premium Production 17M9 Change (YoY) (%) Allianz ,2 Anadolu ,4 Aksigorta ,3 Axa ,4 Mapfre ,1 Top 5 Companies ,0 6 to ,9 Top 10 Companies ,0 Other ,7 Total ,9 Other 35% PRODUCTION SHARE BY COMPANIES 6 to 10 21% Allianz 12% Mapfre 6% Anadolu 12% Aksigorta 7% Axa 7% SOURCE: Association of Insurance Companies 7

8 Non-life Companies Premium Production Anadolu Sigorta ( Mn) Non-Life Sector ( Mn) 18M9 17M9 ΔYoY 18M9 17M9 ΔYoY Branch GPW GPW Growth GPW GPW Growth MTPL % ,0% MOD % ,9% Fire and Nat. D % ,1% Health % ,3% Other % % Total % ,9% 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 (18Q3) 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(18Q3) 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 (18Q3) Broker 10% Other 12% Direct 3% Bank 13% Agency 62% 13

14 Production by Regions (18Q3) Marmara 52% Black Sea 7% Aegean 10% Mediterranean 8% Middle Anatolia 17% South East Anatolia 4% East Anatolia 3%

15 Market Share & Rank (mn. TRY) BRANCHES 17M9 18M9 Rank Market Share 18M9 18M9 Growth MOD % 10% Fire % 28% General Liability % 53% Watercraft % 40% Aircraft % 33% Aircraft Liability % 1% MTPL % 20% Health % 32% General Losses % 29% Other % TOTAL % 22% SOURCE: Association of Insurance Companies 15

16 Profitability Combined Ratio Combined Ratio 17Q3 18Q2 18Q3 MOD 110,6% 109,0% 119,2% MTPL 117,2% 119,6% 131,4% Fire 123,2% 106,7% 137,7% Health 93,2% 111,3% 100,5% P.Accident 64,6% 68,0% 66,8% General Liability 180,4% 153,2% 152,8% General Losses 163,8% 117,7% 99,9% Total 112,4% 112,1% 120,4% 17M9 18M9 104,1% 108,9% 109,9% 123,9% 114,5% 111,2% 108,4% 110,5% 61,3% 70,4% 182,6% 153,0% 101,9% 108,1% 108,2% 113,5% 103% 107% 107,1% 107,5% 113,5% 9% 9% 9% 9% 10% 14% 15% 15% 14% 13% 80% 83% 83% 85% 91% M9 Claims Ratio Net Comm. Ratio Expense Ratio 16

17 Company & Market Potential Company Overview Financial Highlights 17

18 Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) % M M9 Cash and Marketable Sec. (mn TRY) (*) Shareholders' Equity (mn TRY) M M9 (*) Financial loan excluded for 2015,2016, 2017 and 18M

19 Financial Statements ,0% ,9% 25,0% ,7% 19,7% 20,0% ,9% 7,6% ,9% ,7% 10,5% ,4% 13,2% M9 Assets Shareholder's Equity Investment Portfolio Net Profit ROAE ROE - Consolidated 15,0% 10,0% 5,0% 0,0% 19

20 Balance Sheet Assets 18Q Liabilities 18Q Cash + Marketable Sec Equity Participations Other Assets Assets Technical Provisions Shareholders' Equity Other Liabilities Liabilities %16 increase in liquid assets %13 increase in total assets 20

21 Income Statement 18Q3 ( mn) P&L 18M9 17M9 Change (%) (YoY) Tech. Income (*) % Tech. Expenses % Net Financial Inc. + Other Exp. (*) % Deferred Tax % Gross Profit % Tax % Net Profit % Income from subsidiary % Net Profit - dividend income excl % (*) Financial income transferred to technical division is excluded 21

22 Core Indicators (TRY) 18Q Change (18Q3-2017) Mcap 2.160mn 1.550mn 39% Equity (Book Value) 1.589mn 1.639mn -3% P / BV 1,36 0,95 43% ,4% ,6% 1,4% 1,2% ,8% 0,7% 0,7% ,0% ,0% 0,8% 0,6% 0,4% 0,2% Q3 Mcap Equity P/BV 0,0% 22

23 Profitability 27,9 17,7 20,0 6,8 9,9 5,3 8,7 7,2 10,5 11, Q3 ROE - Solo ROE - Consolidated 23

24 Highlights-18Q2 Improving Financials Strong Increase in Health Market Share Net Profit Market Share - Health 85,4 109,1 63, ,3% 11,1% 11,2% 10,7% 10,8% 12,7% 12,0% 24,3 12,8 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 24

25 Investment Portfolio Bonds 9% Stocks 3% In 18M9; Dividend from ANHYT 34 mn TRY Funds 11% Investment Income * 702 mn TRY Average Portfolio Income ~ 20,1% TRY 4,69 bn * ANHYT dividend excluded. Deposits 77% TRY 4,12 bn at

26 Disclaimer Statement 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. For further information please to: investor.relations@anadolusigorta.com.tr or call Anadolu Sigorta Investor Relations on ( ), ( ) 26