INVESTOR PRESENTATION 17Q4

Transcription

1 INVESTOR PRESENTATION 17Q4 1

2 Company & Market Potential 3 Company Overview 11 Financial Highlights 20 2

3 Company & Market Potential Company Overview Financial Highlights 3

4 Premium Production-2017/12 Number of Companies (12M17) Non Life 39 Life 22 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 Premium 12M17 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 ($) World 2, USA 4, UK 2, Switzerland 4, Premium($) Premium(TRY) Poland 1, Turkey 1, SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2017 6

7 Top 10 Companies in the Sector-12M17 Non Life Companies Premium Production ( Mn) Allianz Anadolu Other 33% Allianz 13% Anadolu 12% Axa Mapfre Ak Axa 7% Top 5 Companies to Mapfre 7% Top 10 Companies Other to 10 22% Ak 6% Total SOURCE: Association of Insurance Companies 7

8 Non-life Companies Premium Production Anadolu Sigorta ( Mn) Non-Life Sector ( Mn) 12M17 12M16 ΔYoY 12M17 12M16 ΔYoY Branch GPW GPW Growth GPW GPW Growth MTPL % % MOD % % Fire and Nat. D % % Health % % Other % % Total % % Total (MTPL excl.) % % SOURCE: Association of Insurance Companies 8

9 Aspects of Pooling System MTPL Pool Regulation Includes high-risk policies; Commercial vehicles (taxi,minibus, bus and trucks) + non-commercial vehicles at 1st, 2nd & 3rd segments Agency commission decreased to 8% from 10% %5 commission will be paid to the issuer company for claim management Discount rates dropped; Commercial vehicles at 5th, 6th & 7th segments reduced to 10%, 20% & 30% from 15%, 30%, 45% respectively => %13 Premium increase Premium & Claims distrubition; 50% of them to be distributed to all companies equally, remaining 50% will be calculated based on last three years market share 9

10 Aspects of Pooling System MedMal Pool Regulation Includes all policies; Includes all policies issued after Agency commission For all risk groups 10% %2 reinsurance commission will be paid to the issuer company for expenses Premium & Claims distrubition; 50% of them to be distributed to all companies equally, remaining 50% will be calculated based on last three years market share 10

11 Company & Market Potential Company Overview Financial Highlights 11

12 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 12

13 Shareholder Structure (12M17) Other 43% Milli Reasürans Türk Anonim Şirketi ,3% Trakya Yatırım Holding A.Ş ,0% QİNVEST Portföy ,9% Other ,8% Total ,0% (*)Milli Reasürans 57% (*) 77% of Milli Reasürans is owned by T. İş Bankası 13

14 Distribution Channels(12M17) 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 14

15 Distribution Channels (12M17) Broker 10% Indirect 6% Direct 4% 14% Agency 66% 15

16 Bancassurance Potential o Share of production 11,5% 13,8% in 12M17 o 644 mn GWP in 12Q17 15 M İşbank Customer mn mn mn mn mn 16

17 Production by Branches (12M17) Rank Market Share BRANCHES FY 2017 FY Growth MOD ,8% 6,0% Fire ,2% 7,6% General Liability ,7% 28,8% Watercraft ,7% 12,7% Marine ,3% 5,4% MTPL ,3% -15,1% Aircraft Liability ,1% 5,8% Aircraft ,6% 2,4% Health ,7% 32,7% General Losses ,5% 29,8% Accident ,1% 16,0% Other ,8% TOTAL ,8% 4,2% SOURCE: Association of Insurance Companies 17

18 Profitability Combined Ratio YoY(%) MOD 105,0% 99,8% 5,2% MTPL 110,1% 113,9% -3,4% Fire 112,4% 118,8% -5,4% Health 109,8% 105,4% 4,2% P.Accident 59,0% 68,8% -14,3% Total 107,5% 107,1% 0,4% 111,4% 9% 17% 101,2% 103,1% 10% 9% 15% 14% 106,9 107,1% 107,5% % 9% 8% 9% 15% 15% 14% 85% 76% 80% 83% 84% 85% Claims Ratio Net Comm. Ratio Expense Ratio 18

19 IBNR Reserve Development(mn.TRY) M16 6M16 9M M17 6M17 9M

20 Company & Market Potential Company Overview Financial Highlights 20

21 Growth Performance Total Assets (mn TRY) Tech. Reserves (mn TRY) % % Cash and Marketable Sec. (mn TRY) Shareholders' Equity (mn TRY) mn financial loans excluded (2016) 103 mn financial loans excluded (2017) 17% % 21

22 Balance Sheet Assets Liabilities Cash + Marketable Sec Equity Participations Other Assets Assets Technical Provisions Shareholders' Equity Other Liabilities Liabilities %16 increase in liquid assets %18 increase in total assets 22

23 Income Statement 2017 ( mn) P&L 1Q17 2Q17 3Q17 4Q17 FY17 1Q16 2Q16 3Q16 4Q16 FY16 Change (%) (YoY) Tech. Income % Tech. Expenses % Net Financial Inc. + Other Exp % Deferred Tax % Gross Profit % Tax % Net Profit % 23

24 Profitability ROE 17,74 15,40 7,70 9,90 5,90 8,70 7,40 10, ROE -ANHYT excluded ROE-Consolidated 24

25 Affiliates-17Q4 Equity ( M) Market Cap ( M) Share Owned 20,0% 4,8% Share Value ( M) Mcap : mn P / BV: 0,95 Affiliates Deducted Mcap : 801 mn P / BV: 0,80 25

26 Investment Portfolio Bonds 10% Stocks 4% Other 1% In 2017; Dividend from ANHYT 28 mn TRY Investment Income * 547 mn TRY Funds 12% TOTAL: TRY 4,12 Billion Average Portfolio Income 15% * ANHYT dividend excluded. Deposits 73% Booked Value: 690 Mn Deposits Funds Bonds Stocks Other TRY 3,41 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