Investor Presentation 3Q

Transcription

1 Investr Presentatin 3Q

2 Cmpany Overview 2

3 The Cmpany fr Cperative Insurance (Tawuniya) Overview: Established in 1987, Tawuniya is the One f the Largest Insurance cmpany f KSA market Headquartered in Riyadh, Saudi Arabia Jint Stckhlding Structure, Listed n Saudi Stck Exchange (Tadawul) Strategic Business Units : Mtr, Health, P&C and Investment Multiple distributin channels and prducts Significant presence in each regin f KSA A (Stable Outlk) credit rating by Standard & Pr's Prduct Market Share: Mtr 12% Medical & Takaful 21% Prperty & Casualty 19% 3

4 Our milestnes Tawuniya Establishment Vehicle Liability Insurance Cmpulsry Act (TP) IPO t flat 70% f the ttal capital. Launched a new crprate identity. Increased the paid up capital t SR 1000 millin Intrduced medical insurance plans and ther individual prducts. Received the first license frm SAMA. Intrductin f 90% surplus t SH as per SAMA rules. A credit rating assigned by S&P fr the first time. The applicatin f health insurance cmpulsry fr the expatriates. 4

5 Our structure Distributin Sales Channels Key Accunts GRC Risk Management Cmpliance SBUs Mtr Medical & Takaful Prperty & Casualty Investment BOD&CEO Cmmittees Internal Audit Supprt Finance Marketing Reinsurance HR SS SMO ISD 5

6 Our prducts Mtr Medical P&C Al-Shamel Sanad Sanad Plus Rukhsa Balsam My Family Grup Medical Grup Takaful Engineering Fire & Prperty Casualty Marine Aviatin Energy 6

7 Ptential grwth influencers Increase f awareness Expansin f cmpulsry insurance Mrtgage Finance Law and ther Acts Third Party Liability Law Prfessinal indemnity Innvative prducts t meet needs f sciety 7

8 Insurance Regulatrs in KSA Overall (MOC) Cperative Health Insurance (CCHI) Primary peratins (SAMA) Shares & Listing (CMA) 8

9 Majr clients CONSTRUCTION ENERGY TRANSPORTATION COMMUNICATIONS Fd, drugs & thers FINANCIAL 9

10 Reinsurance partners Munich Re is rated AA- by S&P Swiss Re is rated AA- by S&P SCOR Glbal 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 10

11 Tp rated in the regin A Hannver Re Arab Orient QIC A- Gulf Insurance ADNIC BBB+ Saudi Re Malath Wataniya Medgulf Al-Ahleia Kuwait Re Trust Bahrain Natinal Salama Dha insurance BBB Bahrain Kuwait Takaful Int l Natinal General Ins. Oman Takaful Re Al Buhaira Qatar General Ins. & Reins Oman United BBB First Takaful Aman KSA Kuwait Bahrain UAE Qatar Oman S&P GCC Rating Sep

12 Tawuniya Capital Grwth : Decent Capital Base The highest grwth paid up capital SR 250 M SR 500 M SR 750 M SR 1,000 M

13 Tawuniya Capital Ownership : Lng-term Investrs PPA 24% Public Pensin Agency (PPA) is 100% Saudi Gvernment Owned entity. Since its establishment in 1958, Agency caters the benefit plan fr Military & Civil Retirees. Public 53% GOSI 23% General Organizatin fr Scial Insurance (GOSI) is Saudi Gvernment Owned entity, implementing scial insurance rules fr Private Sectr Emplyee. 13

14 Insurance Market 14

15 KSA Insurance Market Tday Regulatins have psitively impacted the verall market perfrmance Several small insurers are struggling t maintain adequate slvency/capital margins Ease f re-capitalizatin is n lnger being supprted by the regulatr Stern price cmpetitin amng large insurers is still present Mtr Third Party insurance penetratin is still lw but expected t increase with strng regulatry enfrcement. Newly-intrduced (i.e. Visit Visa, Mtr Gvernment fleets ) and ptentially-new cmpulsry lines (Dmestic Helpers ) are expected t bst market premium grwth. Market 9M M 2014 Variance GWP 28, , % Incurred Claims 15, , % Net Incme % Lss-making Cmpanies Out f 34 15

16 Tp KSA Insurance Cmpanies GWP Market Share Trend 9M Cumulative Grss Written Premium (in SR Millins) Tawuniya Medgulf Bupa Remaining Cmpanies ,228 4,781 3,419 1, BUPA Tawuniya MedGulf Malath Al-Rajhi ARCC Operating Surplus ex. PH Investment (in SR Millins) BUPA Tawuniya Al-Rajhi ARCC 543 Net Incme (in SR Millins) AlSaqr ATC Tawuniya BUPA AlSaqr Al-Rajhi ARCC UCA 16

17 Tp KSA Insurance Cmpanies Earning per Share SAR Tawuniya MedGulf BUPA UCA M, M, 2014 Lss Rati Tawuniya 82% 78.8% 69% 66.6% 51% 78% 75.0% 26.3% Medical Mtr P&C Ttal M

18 Tawuniya s Lng-Term Strategic Pillars Market Leadership Prfitability Custmer Centricity T attain the ptimal balance acrss all three strategic pillars 18

19 Financial Highlights 19

20 Sustainable Grwth Technical Reserves (in SR Millins) 6,017 6,023 6,936 6,629 Ttal Assets (in SR Millins) 3,979 3,729 4,225 7,531 7,384 8,218 9,965 9,939 10,897 11, Q 2015 Ttal Investments (in SR Millins) 3Q Q Q ,876 3,880 3,816 3,914 5,016 5,410 5, Q Q

21 Key Financial Parameters Grss Written Premiums (in SR Millins) Net Claims Incurred (in SR Millins) 4,181 4,431 5,635 5,605 6,208 4,346 4,781 1,478 2,009 3,138 4,785 3,659 2,791 3, M M M M 2015 Net Earned Premium (in SR Millins) Net Incme (Lss) (in SR Millins) 2,659 3,098 3,951 4,728 4,804 3,542 4, M M M M

22 Lss Ratis : Efficient Management Cmbined Rati Retentin Rati 83% 86% 95% 117% 91% 92% 92% 69% 78% 80% 83% 85% 82% 84% M M M M 2015 Net Incme Margin Ttal Investment incme (in SR Millins) 18.99% 14.77% 8.15% 12.13% 12.21% 12.71% H % 1H M M

23 GWP: Maintaining the cmpsitin Grss Written Premium Mix (SR Millin) 9M M 2015 P&C 20% P&C 18% Mtr 18% 9M ,345 Medical 62% Mtr 22% 9M ,780 Medical 60% 23

24 Thank Yu Final Slide Tawuniya lg