Quarterly Overview. First Quarter 2013

Transcription

1 Quarterly Overview First Quarter 2013

2 Content Financial Review Portfolio s Main Figure

3 Financial Review Disclaimer The forward-looking statements contained herein are based on Management s current forecasts and outlook. For better illustration and decision-making, figures for Suramericana, SURA Asset Management and its subsidiaries are administrative rather than accountant, and therefore may differ from those presented to entities officers. Thus, Grupo de Inversiones Suramericana assumes no obligation to update or correct the information contained in this presentation.

4 Balance GRUPO Sheet DE INVERSIONES SURAMERICANA S.A. Balance Sheet (Figures in million COP) TRM 1, Quarter % Var MM USD 1Q 13 4T 12 1Q 12 1Q13/4Q121Q13/1Q12 1Q 13 Cash and cash equivalents $ 4, , % -88.4% 2.6 Investments available for sale 17,216 88, % % 9.4 Accounts receivable 417, , , % -44.7% Prepaid expenses N/A N/A - Current assets 439, , , % -44.8% Permanent investments 9,238,420 9,102,546 9,689, % -4.7% 5,042.3 Property, plant and equipment - vehicle % 80.3% 0.4 Intangibles 2,046 2,065 44, % -95.4% 1.1 Other assets % 0.0% 0.0 Reappraisal of investments 12,379,080 12,372,807 10,365, % 19.4% 6,756.4 Non current assets $ 22,059,715 21,680,178 20,895, % 5.6% 12,040.0 Financial obligations 260, , , % -54.7% Other financial obligations 22,508 21,243 1,000, % -97.8% 12.3 Accounts payable 305, , , % -3.4% Taxes, liens and fees 4,300 4,300 6, % -33.3% 2.3 Employee liabilities % -17.2% 0.2 Unearned revenues 245,571 26, , % 7.7% Estimated liabilities and provisions 32,938 33,794 20, % 59.8% 18.0 Current liabilities 871, ,318 2,146, % -59.4% Bonds 250, , , % 0.0% Total liabilities 1,121, ,318 2,396, % -53.2% Total shareholders equity 20,938,427 20,791,860 18,499, % 13.2% 11,428.0 Total liabilities and shareholders equity $ 22,059,715 21,680,178 20,895, % 5.6% 12,

5 Income Statement TRM 1, Quarter % Var MM USD 1Q 13 4Q 12 1Q 12 1Q13/4Q121Q13/1Q12 1Q 13 Dividends 84,484 66,994 64, % 30.5% 46.1 Interests , % -77.7% 0.3 Earnings from the equity method, net 131,341 39,733 67, % 94.4% 71.7 Earnings from sale of investments, net 99,436 11,142 22, % 340.5% 54.3 Appraisals at market prices, net 1, % % 0.6 Suscription rights - 1,641 - N/A N/A - Operating revenues 316, , , % 101.8% Payroll expenses 1,917 2,119 2, % -15.4% 1.0 Fees 1,048 2,825 14, % -92.6% 0.6 Administrative expenses 4,362 2,039 35, % -87.9% 2.4 Depreciation % 61.3% 0.0 Operating and administrative expenses 7,373 7,019 52, % -85.9% 4.0 Operating income 309, , , % 196.0% Adjustment for diff. in foreign-exchange (536) 3,445 (97,704) % -99.5% (0.3) Financial expenses - commissions 19,144 13,212 25, % -26.2% 10.4 Extraordinay expenses % -96.6% 0.0 ADR call option compensation - (0) 5,021 N/A N/A - Other (11) 1,747 (10,271) N/A N/A (0.0) Non operating expense (income) 18,617 18,546 (76,438) 0.4% % 10.2 Income before taxes 290,893 94, , % 60.7% Income and complementary taxes provision (3,634) (7,522) (2,767) -51.7% 31.3% (2.0) Net income 287,259 86, , % 61.2%

6 GRUPOSURA SHAREHOLDERS 10.9% Grupo Argos and subsidiaries 7.1% 32.3% Grupo Nutresa 12.3% 526 International funds Colombian Pension Funds International Funds Retail Investors 10.3% Institutional Investors 27.0% Outstanding Ord. Shares: 469,037,260 Outstanding Pref. Shares: 106,334,963 Total outstanding shares: 575,372,223 Market Cap (USD billion): 12.4 Price/Book Value: 1.07 Number of Shareholders: 24,091 International Funds: 526 Source: Shareholders' Registry as of mar 31,

7 GRUPOSURA GRUPOSURA mar-13 % Annual Var % Var. YTD * 31-dic mar-12 GRUPOSURA (Pesos) 39, % 2.6% 38,000 31,160 PFGRUPSURA (Pesos) 39, % 0.5% 39,000 32,500 COLCAP (Points) 1, % -3.2% 1,833 1,744 * Annual appraisal w ithout dividends - 12 months 7 7

8 Investments Portfolio NOTE: Considering Suramericana at 2x P/BV and Protección at market price, the valuation for Suramericana has to be calculated by the different investors and analysts Including their commercial value pursuant to accountant standards and the stakes held in Grupo de Inversiones Suramericana and afiliates Grupo Argos 20.9% Grupo Nutresa 17.6% Other 0.6% Estimated relative weight over the commercial value of the portfolio, which as of March 2013 came to COP 23.9 billion. Sura Asset Management 18.6% Protección - AFP 2.4% Suramericana 12.9% Bancolombia 27.0% 8 8 8

9 Portfolio s Main Figures

10 SURA ASSET MANAGEMENT Demographic Structure Company Nº1 IN PENSIONS IN LATIN AMERICA MÉXICO: AFORE SURA - FONDOS AFFILIATES: 6,1 MM AUM MM USD: WM - Clients: AUM MM USD:208 Other - AUM: MM USD: 3,637 COLOMBIA - AFP PROTECCIÓN SAVINGS, INSURANCE AND INVESTMENT EL SALVADOR - AFP CRECER AFFILIATES: 1,3 MM AUM MM USD: AFFILIATES: 5,7 MM AUM MM USD: WM - Clients: AUM MM USD: MILLON OF CLIENTS BILLIONS IN AUM EMPLOYEES Figures as of March PERÚ: AFP INTEGRA - FUNDS AFFILIATES: 1,4 MM AUM MM USD: WM - Clients: AUM MM USD: 219 Other AUM: MM USD: 152 CHILE: AFP CAPITAL - FUNDS AFFILIATES: 1,9 MM AUM MM USD: WM Clients: AUM MM USD: Other - AUM:MM USD URUGUAY: AFAP SURA - AFISA AFFILIATES: AUM MM USD: WM Clients: 149 AUM USD MM: 2 10

11 Sura Asset Management Main Figures Operating Revenues Administrative Expenses 210, , ,277 83,615 87,662 34,590 6,048 Chile México Perú Uruguay 2,422 Chile México Perú Uruguay Operational Income Net Income 49,134 43,181 35,118 41,766 29,966 23,864 3,231 2,319 Chile México Perú Uruguay Chile México Perú Uruguay Figures in USD thousands 11 11

12 Sura Asset Management: Market share Sura Asset Management number one in pensions in Latin America with 22.2% of Market Share. Sura Asset Management AUM Countries AUM MPF Industria Industry Market Share Ranking por país Obligatorias México 21, , % #3 Chile 36, , % #2 Perú 11,615 38, % #2 Colombia 26,795 72, % #1 Uruguay 1,997 11, % #2 Competidores Relevantes Banamex Profuturo Principal Habitat Cuprum Provida Prima Horizonte Profuturo Porvenir Horizonte Colfondos República Unión Capital El Salvador 3,285 7, % #2 AFP Confía Total SUAM 101, , % #1 Cifras a marzo de 2013 en Millones USD 12 12

13 Market Figures Assets Under Management (USD bn) 4.3% % % % % % 3.4% Chile México Perú Colombia Uruguay El Salvador TOTAL AUM 2011 AUM 2012 AUM Mar 2013 Affiliates MPF 0.5% 14,548, % 1,870, % 6,139, % 1,351, % 3,619, % 290, % 1,276,495 Chile México Perú Colombia Uruguay El Salvador TOTAL Afiliados PO 2011 Afiliados PO 2012 Afiliados PO Mar

14 Suramericana: Insurance and Social Security Investment sub-holding MAIN FIGURES 31-mar mar-12 % Var. Total assets 2, , % Current assets % Investments 1, , % Total liabilites % Shareholders' equity 1, , % Operating income 70.7 Source: Fasecolda % Earnings from Equity Method % Operating expenses % Net income % In thousand million COP

15 Suramericana: Insurance and Social Security Investment sub-holding Breakdown of affiliate contributions to SURAMERICANA S total revenues (March 31, 2013) 31-mar mar-12 % Var. Life 423, , % Property and Casualty 295, , % Health 246, , % Workers Compensation 151, , % Insurance and Social Security 1,116, , % Asesuisa 41,023 36, % SURA Dominican Republic 30,416 26, % Sura Panama (P&C) 20,033 18, % International affiliates 91,472 80, % Other affiliates 102,100 91, % Total Subsidiaries 1,310,300 1,171, % Other (24) 30.1% Estado 4.8% Alfa 6.6% Liberty 5.8% Colpatria 6.3% Suramericana 21.3% Bolívar 10.6% Mapfre 7.6% Allianz 6.7% In million COP Market Share as of February 2013 Source: Fasecolda

16 Seguros Generales Suramericana: (P&C Company) MAIN FIGURES 31-mar mar-12 % Var. Written premiums % Retained premiums % Claims % Retained claims % Total reserves % Direct operational result % Operational expenditures % Net operating result % Investments result % Net income % Total assets 1, , % Total liabilites 1, % Shareholders' equity % RATIOS 31-mar mar-12 Claims ratio 63.0% 53.5% Net claims ratio 53.7% 55.6% Commission and brokerage expenses 11.8% 12.9% Combined ratio 104.4% 106.1% Expenses ratio 15.7% 16.5% Other (16) 28.0% Bolívar 6.9% Suramericana 15.2% Allianz 9.3% Colpatria 8.2% Previsora 6.7% Liberty 8.0% Mapfre 8.8% Estado 8.8% In thousand million COP Market Share as of February 2013 Source: Fasecolda

17 Written premiums and claims by branches Premiums and Claims Premiums 1T 13 % Var Retained Premiums Retained Claims % Retained claims ratio Automobile 128, % 122,795 79, % SOAT 56, % 50,523 22, % Fire 40, % 7, % Transport 10, % 9,083 2, % Third party liabilities 16, % 7,856 1, % Other P&C 43, % 20,875 10, % Total 295, % 218, , % MAIN DISTRIBUTION CHANNELS Third party liabilities 5.7% Transport 3.4% Written Premiums P&C Other P&C 13.1% Substraction 1.5% Automobile 43.4% 9.6% % % 26 Fire 13.7% INSURANCE BROKERS CORPORATE MAJOR RETAIL OUTLETS In million COP SOAT 19.2%

18 Seguros de Vida Suramericana: Life Company MAIN FIGURES 31-mar mar-12 % Var. Written premiums % Retained premiums % Claims % Retained claims % Total reserves % Direct operational result % Operational expenditures % Net operational result % Investments result % Net income % RATIOS 31-mar mar-12 Claims ratio 70.7% 65.5% Net claims ratio 65.3% 64.4% Commission and brokerage expenses 10.5% 9.7% Expenses ratio 11.6% 12.5% Other (20) 32.7% Suramericana 27.2% Total assets 4, , % Total liabilites 3, , % Shareholders' equity % Metlife 4.0% ACE 4.0% Liberty 5.0% Mapfre 6.3% Bolívar 12.1% Allianz 8.8% In thousand million COP Market Share as of February 2013 Source: Fasecolda

19 Written premiums and claims by branches Premiums and Claims Premiums 1T 13 % Var Retained Premiums Retained Claims % Retained claims ratio Health 128, % 128,088 80, % Individual life 84, % 74,554 40, % Group life insurance 69, % 68,246 25, % Other life insurance 20, % 18,428 12, % Total without annuities and DNS 301, % 289, , % Disability and Survivorship 104, % 104,380 99, % Annuities and pensions 17, % 17,699 10, % Total 423, % 411, , % Disability and Survivorship 24.6% Other life insurance 4.2% Group life insurance 16.4% Written Premiums Life Annuities and pensions 4.4% Health 30.6% Individual life 19.8% MAIN DISTRIBUTION CHANNELS 11.5% % 24.5% % 32 INSURANCE BROKERS CORPORATE BANCASSURANCE OTHER DIRECT In million COP

20 ARL Sura: Workers Compensation Company MAIN FIGURES 31-mar mar-12 % Var. Written premiums % Claims % Total reserves % Direct operational result % Operational expenditures % Net operational result % Investments result % Net income % Total assets 1, , % Total liabilites 1, % Shareholders' equity % RATIOS 31-mar mar-12 % Var. Accident rate 1.3% 1.4% Severity rate 0.1% 0.1% Days out of work 272, , % Average days out of work % Colpatria 13.7% Liberty 5.4% Bolivar 6.6% Other (4) 6.4% Arp Sura 28.9% Colmena 15.2% Market Share as of February 2013 Positiva 23.8% Source: Fasecolda In thousand million COP

21 EPS Sura: Health Company MAIN FIGURES 31-mar mar-12 % Var. Revenues % Claims % Direct operational result % Operational expenditures % Net operational result % Investments Result % Net income % Total assets % Total liabilites % Shareholders' equity % Other (18) 34.0% Famisanar 7.0% Eps Sura 8.0% Salud Total 9.0% Grupo Saludcoop 27.0% Coomeva 15.0% RATIOS 31-mar mar-12 Net claims ratio 90.8% 90.6% Commission expenses ratio 0.7% 0.9% Technical equity (USD million) Market Share as of February 2013 Source: Fasecolda In thousand million COP

22 Proteccion: Management of pension funds MAIN FIGURES FUNDS Operating income 31-mar mar-12 % Var. 105, , % Mandatory Pension Fund Afilliates (thousand) 3,619 3, % Comissions and fees 98, , % Fund value 47,999 41, % Severance Mandatory Voluntary Operating Expenses Net Profit 20, , % 54, , % 23, , % 82, , % 40, , % Market Fund Value Market Share Severance Payment Fund Afilliates (thousand) Fund value Market Fund Value 130, , % 36.8% 37.3% 2,041 2, % 3,396 3, % 8,804 7, % Assets Equity 1,068, , % 920, , % Market Share Voluntary Pension Fund Fund value 38.6% 38.5% 4,542 3, % ROE 7.9% Market Fund Value Market Share 11,890 10, % 38.2% 36.6% In million COP Total Funds Value 55,937 47, % In thousand million COP

23 CFO: Ignacio Calle Investment Managing Director: Maria Adelaida Tamayo IR: Luis Eduardo Martínez Teléfono: (574)