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Assure financial future today for a better tomorrow Creating a - - PowerPoint PPT Presentation

Assure financial future today for a better tomorrow Creating a better tomorrow Disclaimer THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES OR ANY INVESTMENT This presentation has been prepared by


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Creating a better tomorrow

Assure financial future today for a better tomorrow

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Creating a better tomorrow

Assure financial future today for a better tomorrow

Disclaimer

THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES OR ANY INVESTMENT

  • This presentation has been prepared by IGI Life Insurance Limited (“IGILIFE”) solely for information purposes. No

representation or warranty express or implied is made thereto, and no reliance should be placed on, the fairness, accuracy, sufficiency, completeness or correctness of the information or any opinion contained herein, or any opinion rendered thereto. The information contained in this presentation should be considered in the context of the circumstances prevailing at the time and will not be updated to reflect any developments that may occur after the date of the presentation. Neither IGILIFE nor any of its respective affiliates, officials, advisors, associates, employees or any person working for, under or on behalf, shall have any responsibility and/or liability of any nature whatsoever (in contract

  • r otherwise) for any loss whatsoever arising from any use of this presentation or its contents or otherwise arising in

connection with this presentation.

  • This presentation does not constitute or form part of a prospectus, offering circular or offering memorandum or an offer,

solicitation, invitation or recommendation to purchase or subscribe for any securities and no part of it shall form the basis of, or be relied upon in connection with, or act as any inducement to enter into any arrangement, agreement, contract, commitment or investment decision in relation to any securities. This presentation shall not at all be intended to provide any disclosure upon which an investment decision could be made. No money, securities or other consideration is being solicited, and, if sent in response to this presentation or the information contained herein, will not be accepted.

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Creating a better tomorrow

Assure financial future today for a better tomorrow

Disclaimer

THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES OR ANY INVESTMENT

  • The presentation may contain statements that reflect IGILIFE own beliefs and expectations about the future. These

forward-looking statements are based on a number of assumptions about the future, which are beyond IGILIFE control. Such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario. Such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking

  • statements. IGILIFE does not undertake any obligation to update any forward-looking statements to reflect events that
  • ccur or circumstances that arise after the date of this presentation and it does not make any representation, warranty

(whether express or implied) or prediction that the results anticipated by such forward-looking statements will be

  • achieved. In addition, past performance should not be taken as an indication or guarantee of future results.
  • You agree to keep the contents of this presentation strictly confidential. All or any part of this presentation may not be

taken away, reproduced, copied, redistributed, retransmitted or disclosed in any manner or form and for any purpose whatsoever.

  • By attending this presentation, you are agreeing to be bound by the foregoing limitations.
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Creating a better tomorrow

Assure financial future today for a better tomorrow

Content

  • 1. Company Overview
  • 2. Strategic and Operational Developments
  • 3. Financial Highlights
  • 4. Questions & Answers
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Insurance Industry of Pakistan

Total Premium Written in Pakistan – Life and Non Life excluding State Life and NICL

34 35 38 43 44.3 48.7 55 61.3 64.8 76.2 85.7 12 13 17 23 31.3 40.9 48.4 74.1 81.7 109.7 112 50 100 150 200 250 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 PKR Billion

Non…

Life

i i

Non Life

USD: 1.3bn PKR 197bn

Insurance Density (Premium/Capita) Pakistan (USD) Region * (USD) Non Life 2.20 8.23 Life 2.70 22.72 Overall 4.90 30.95 Insurance Penetration (Premium/GDP) Pakistan (%) Region* (%) Non Life 0.24 0.64 Life 0.65 1.60 Overall 0.89 2.24

*India, Sri Lanka & Bangladesh

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About

  • 1994 - Formed as a Public Limited Company (Metlife Alico) with start-up of

Operations in 1995.

  • 2014 - Acquired by a Packages Group Company, IGI Insurance Limited (Now

IGI Holdings Limited)

  • IGI Holdings currently holds 82% stake in the Company.
  • 2018 - Collaborated with Vitality Group International (having presence in 52

countries).

  • The Company has:
  • Presence through 22 sales offices/branches across Pakistan.
  • Has 200 direct & 400 indirect staff members.
  • Credit Rating A+ (with stable outlook) by PACRA.
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Progress at a Glance

Formation of First Foreign Life Insurance Company in Pakistan after Privatisation Acquisition of Controlling Stakes by Packages Group Crossed Rs. 7 Billion Gross Premium Written Partnered with Vitality Group International to bring Shared Value Insurance Product Commencemen t of Operations Launching of Window Takaful Operations through licensing by SECP Family Takaful Premium crossed Rs. 1 Billion

2017 1995 2015 1994 2014 2016 2018

Public Launch

  • f Vitality

Product

2019

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Management Team

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Content

  • 1. Company Overview
  • 2. Strategic and Operational Developments
  • 3. Financial Highlights
  • 4. Questions & Answers
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Product Suite of

Individual Life Products

Conventional Savings Plans Unit Linked Insurance Plans

Medical Coverage Products

Individual Accidental and Health Plans

Corporate Employee Benefit Products

Group Life Insurance Plans Group Medical Coverage Plans

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Redefining Our Mission

After acquisition by Packages Group, the Company re-defined its Mission Statement as:

Mission Statement

IGI Life provides innovative life and health insurance as well as investment solutions through ground-breaking innovation and exemplary customer service, leveraging different distribution channels

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Product Suite of

Individual Life Products Conventional Savings Plans Unit Linked Insurance Plans Medical Coverage Products Individual Accidental and Health Plans Corporate Employee Benefit Products Group Life Insurance Plans Group Medical Coverage Plans

Attempting to Disrupt through “Innovation”

Brought in Vitality to Pakistan

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Vitality – A Success Story Operate in 19 countries & 8.9 million Vitality members globally*

Launched in 1997 200 thousand new members each month

Every single minute this platform tracks roughly a 1,000 activities and picks up about 50 biometric readings

The model is built on a foundation of 40 million life years of health, life and insurance data linked to wellness behavior

https://www.linkedin.com/pulse/dia-interview-andre-nepgen-discovery-all-ecosystems-roger-peverelli https://www.forbes.com/sites/tobyshapshak/2018/11/14/south-africas-biggest-medical-aid-discovery-launches-first-behavioural-bank/#6dedd2a57900 https://www.vitality.co.uk/careers/our-history/

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Vitality – Shared Value Insurance

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Vitality – First Active Life Insurance

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Vitality – Life Expectancy Analysis

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Vitality – Infrastructure

IGI Life Insurance has created a platform to market its Unique Insurance Products.

  • IGI FSI - Set-up of In-house Training Institute for human capital

capable of selling Vitality Products.

  • Investment in IT Infrastructure to support its operations
  • Met the financial requirements of the project through right issue

in Aug 2019.

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IGI FSI – In-House Training Institute

Karachi & Lahore offices and training centers fully functional

IGI FSI is a recruitment and training facility, pioneering in Emerging technologies driven training and business solutions with special emphasis on Vitality

Achievements

  • Created database of over 150,000 employable talent across Pakistan.
  • Trained more than 2000 Agents on life insurance and Vitality with interactive online training module in

English and Urdu.

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Vitality – Investments in IT Infrastructure

The Company has invested sufficient amounts and resources to develop IT systems and infrastructure to support its unique and shared value products. The main purpose to procure and upgrade its technology is:

  • To provide state of the art technological environment for development and

support of Vitality.

  • To achieve Operational Efficiencies.
  • To serve customers in effective and efficient manner
  • To integrate health benefits accrued with maintaining a healthy life style.
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Our Business Partners

Banca Partners

  • Standard

Chartered Bank

  • Bank Alfalah
  • Soneri Bank
  • Silk Bank
  • Dubai Islamic

Bank

Reinsurance Partners

  • Hannover Re
  • Munich Re

Corporate Relations Over 500 Relations

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Content

  • 1. Company Overview
  • 2. Strategic and Operational Developments
  • 3. Financial Highlights
  • 4. Questions & Answers
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Profit and Loss Account

  • The Gross premium written by the

Company had slightly decrease by 3% as compared to same period LY.

  • Investment income increased due to

increase in discount rate from 5.75% to 13.25%

  • Incurred Loss after tax of Rs. 176

million mainly due to

  • increase in marketing expense

due to launch of new product “Vitality”,

  • IT

Costs for improving

  • perational Efficiency, and
  • Expansion
  • f

its distribution

  • utreach.

Description Nine Months Ended Sept 30, 2019 Nine Months Ended Sept 30, 2018 Rupees in 000's Gross Premium 3,591,132 3,706,019 Net Premium 3,478,861 3,604,818 Net claims (including surrenders) 3,586,364 3,764,234 Investment Income (including other income) 1,152,344 790,685 Acquisition cost 550,624 465,233 Admin Expenses 828,860 562,201 (Loss) / profit before tax (248,113) 52,370 (Loss) / profit after tax (176,159) 37,174 (LPS) / EPS (1.40) 0.31

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Gross Premium Analysis

Overall Gross Premium Rs. 3,591 million Jan – Sept 2019

Individual Life- Agency 21% Bancassurance 33% Corporate Business 46%

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Assets Under Management

IGI Life

  • Rs. 16,897M

(Dec-18: 16,780M)

Policy Holders Fund

  • Rs. 14,939M

(Dec-18: 15,254M) Life Par

  • Rs. 1,565M

(Dec-18: 1,499M)

PIBs/ T-Bills

  • Rs. 1,565M (100%)

Life Non Par

  • Rs. 6,027M

(Dec-18: 5,953M)

PIBs/ T-Bills

  • Rs. 6,027M (100%)

Pension (PIBs)

  • Rs. 120M

(Dec-18: 46M) Investment Linked

  • Rs. 7,226M

(Dec-18: 7,757M) Shareholders Fund

  • Rs. 1,958M

(Dec-18: 1,593M)

T-Bills/PIBs/TFCs

  • Rs. 1,409M (72%)

Income Funds

  • Rs. 175M (9%)

Equity Funds/ SMA

  • Rs. 211M (11%)

Bank Deposits

  • Rs. 163M (8%)
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Investment Performance (Jan – Nov 2019) – Absolute Returns

5.99% 2.52% 13.25% 8.89% 10.35% 12.26% 12.43% 5.47% 6.94% 8.15%

KSE-100 KMI-30 Policy Rate Aggressive Balanced Conservative Secure Aggressive - Tak Balanced - Tak Conservative - Tak

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Content

  • 1. Company Overview
  • 2. Strategic and Operational Developments
  • 3. Financial Highlights
  • 4. Questions & Answers
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Creating a better tomorrow

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Thank you