INVESTOR PRESENTATION 17Q2 Company & Market Potential 3 - - PowerPoint PPT Presentation

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Nov 01, 2023 96 likes •414 views

INVESTOR PRESENTATION 17Q2 Company & Market Potential 3 Company Overview 11 Financial Highlights 22 2 Company & Market Potential Company Overview Financial Highlights 3 Premium Production -17Q2 Number of Companies (17Q2) Number

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SLIDE 1

INVESTOR PRESENTATION 17Q2

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SLIDE 2

Company & Market Potential 3 Company Overview 11 Financial Highlights 22

2

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SLIDE 3

Company & Market Potential

Company Overview Financial Highlights

3

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SLIDE 4

Premium Production-17Q2

  • SOURCE: Association of Insurance Companies

22,7 27,3 35,4 3,3 3,8 5,0

12.14 12.15 12.16

Premium Production (₺ Bn)

Non Life Life 20%

Non Life 39 Life 22 Reinsurance 2 Total 63 Non Life 26 Life 18 Reinsurance 1 Total 45

Number of Companies (17Q2) Number of Foreign Shared Companies 30%

Non-Life; 19,8₺ Bn; 86% Life; 3,3 ₺ Bn; 14% PREMIUM 17Q2

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SLIDE 5

Mandatory Policies in Turkey (Earthquake & MTPL)

  • SOURCE: turkstat, State Planning Organization, Association of Insurance Companies, bkm, tramer, TCIP

 17,6 million houses  54% of houses are non-insured  21,6 million vehicles  23% of vehicles are non-insured EARTHQUAKE MTPL

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SLIDE 6

M&A in the Sector

2006 2007 2008 2010 2011 2014

˜$3,8Bn total M&A’s since 2006

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SLIDE 7

Non-Life Trends in the Sector

2016 Premium / GDP (%) Premium Per Person ($) World 2,81 285 USA 4,29 2.449 UK 2,58 1.031 Switzerland 4,12 3.233 Poland 1,92 238 Turkey 1,36 144

  • SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2016

102 108 93 106 114 123 143 133 124 144 118 165 138 163 215 219 305 308 361 505 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Non-Life Premium Per Person

Premium($) Premium(TRY)

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SLIDE 8

Top 10 Companies in the Sector-17Q2

Non Life Companies Premium Production (₺ Mn) Allianz 2.604 Anadolu 2.333 Axa 1.421 Mapfre 1.406 .. .. . . Top 10 Companies 13.333 Other 6.489 Total 19.822

  • SOURCE: Association of Insurance Companies

Allianz 13% Anadolu 12% Axa 7% Mapfre 7% 5 to 10 28% Other 33%

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Non-life Companies Premium Production

  • SOURCE: Association of Insurance Companies

Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 17Q2 16Q2 (YoY) 17Q2 16Q2 (YoY) Branch GPW GPW Growth GPW GPW Growth MTPL 620 945

  • 34%

5.839 6.540

  • 11%

MOD 461 485

  • 5%

3.285 3.044 8% Fire and Nat. D. 417 360 16% 2.897 2.382 10% Health 303 221 37% 2.737 2.323 18% Other 532 428 24% 5.065 4.125 23% Total 2.333 2.439

  • 4%

19.822 18.415 8%

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SLIDE 10

Aspects of Pooling System

Includes high-risk policies; Commercial vehicles (taxi,minibus, bus and trucks) + non-commercial vehicles at 1st, 2nd & 3rd segments %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 Agency commission decreased to 8% from 10%

MTPL Pool Regulation

Premium & Claims distrubition; 50% of them to be distributed to all companies equally, 50% of will be calculated based on last three years market share

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Company & Market Potential

Company Overview

Financial Highlights

11

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  • Founded by Mustafa Kemal Atatürk in 1925
  • First national insurance company
  • Main activity: Non-life insurance(until 1991, both life

and non-life)

  • group company

History

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SLIDE 13

Shareholder Structure (17Q2)

Milli Reasürans 57% Other 43%

77% of Milli Reasürans is owned by T. İş Bankası Milli Reasürans Türk Anonim Şirketi 286.550.106 57,3% QİNVEST Portföy 30.693.090 6,1% Nemtaş Nemrut Liman 26.444.763 5,3% Other 156.312.041 31,3% Total 500.000.000 100,0%

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SLIDE 14

Distribution Channels(17Q2)

  • ~25% working exclusively with Anadolu

2.447 Professional Agencies

  • Working exclusively with Anadolu

1.365 Işbank Branches

İzmir Ankara Antalya Trabzon Adana

  • N. Cyprus

İstanbul (2) Samsun Bursa Gaziantep

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Distribution Channels (17Q2)

Direct 1% Agency 67% 13% Broker 12% Indirect 7%

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  • Share of production 11,5%  13% in 17Q2
  • ₺300 mn GWP in 17Q2

˜ 15 M İşbank Customer

Bancassurance Potential

2012 204mn

2013 269mn

2014 325mn

2015 423mn 2016 516mn

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SLIDE 17

17

Aegean 9,2% Middle Anatolia 14,7% Mediterranean 7,9% South East Anatolia 3,1% East Anatolia 2,4% Black Sea 6,5% Marmara 56,2%

Production by Regions (17Q2)

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SLIDE 18

Production by Branches (17Q2)

  • SOURCE: Association of Insurance Companies

Branch Market Share Rank MTPL 10,6% 2 MOD 14,1% 1 Fire 14,4% 1 Health 11,1% 3 Total 11,8% 2

Total: ₺2,33 Bn

MTPL; 620; 26% MOD; 462; 20% Fire and Nat. D.; 417; 18% Health; 303; 13% Other; 531; 23%

GPW ₺ Mn

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Combined Ratio

107% 103% 101% 111% 107% 103% 85% 76% 80% 83% 83% 79% 84% 17% 15% 14% 15% 15% 15% 14% 9% 10% 9% 9% 9% 9% 8% 0% 20% 40% 60% 80% 100% 120% 2012 2013 2014 2015 2016 17Q1 17Q2 Claims Ratio Net Comm. Ratio Expense Ratio 106%

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Profitability

Combined Ratio 1H17 1H16 MOD 100,7% 95,3% MTPL 106,9% 124,2% Fire 109,7% 84,9% Health 117% 105% P.Accident 59,3% 60,3% Total 106,2% 105,5% Technical Balance (mn TRY) 1H17 1H16 MOD 35,6 49,2 MTPL 36,8

  • 34,9

Fire 8,4 31,6 Health

  • 9,1

3,2 P.Accident 37,5 25 Total 106,9 91,9

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IBNR Reserve Development(mn.TRY)

659 719 566 633 50 mn TRY 310 437 460 446 564 644 694 805 222 259 120 69

2014 2015 1Q16 2Q16 3Q16 2016 1Q17 2Q17

111 mn TRY

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SLIDE 22

Company & Market Potential Company Overview

Financial Highlights

22

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913 1.020 1.202 1.223 1.332 2013 2014 2015 2016 2Q17

Shareholders' Equity (mn TRY)

1.851 2.282 2.934 3.914 4.293 2013 2014 2015 2016 2Q17

  • Tech. Reserves (mn TRY)

1.785 2.250 2.776 3.832* 4.210** 2013 2014 2015 2016 2Q17

Cash and Marketable Sec. (mn TRY)

23

  • * 134 mn financial loans excluded
  • ** 173 mn financial loans excluded

3.253 3.773 4.888 5.974 6.527 2013 2014 2015 2016 2Q17

Total Assets (mn TRY) 10% 10%

9%

9%

Growth Performance

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SLIDE 24

Assets (₺ Mn)

30.06.2017 31.12.2016

Cash + Marketable Sec. 4.383* 3.966** Receivables 1.076 1.049 Equity Participations 474 427 Fixed Assets 154 158 Other Assets 440 374 Assets 6.527 5.974 Liabilities (₺ Mn)

30.06.2017 31.12.2016

Payables 735* 666** Technical Provisions 4.293 3.914 Shareholders' Equity 1.332 1.223 Other Liabilities 167 171 Liabilities 6.527 5.974

* 173 mn financial loans included ** 134 mn financial loans included

Balance Sheet

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Income Statement – 1H17 (₺ mn)

P&L

1Q17 2Q17 1H17 1Q16 2Q16 1H16 Change (%)

(1H16-1H17)

  • Tech. Income

864 850 1.714 708 775 1.483 16%

  • Tech. Expenses
  • 887
  • 932
  • 1.819
  • 772
  • 792
  • 1.564

16% Net Financial Inc. + Other Exp. 108 108 216 70 71 141 53% Gross Profit 85 26 111 5 55 60 83% Tax

  • 23
  • 2
  • 25
  • 3
  • 11
  • 14

78% Net Profit 62 24 86 2 44 46 85%

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Profitability

7,39 7,02 5,31 7,18 6,46 2013 2014 2015 2016 1H17

ROE

10,20 9,90 8,70 10,54 7,87 2013 2014 2015 2016 1H17

ROE - consolidated

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SLIDE 27

Affiliates-17Q2

Equity (₺ M) 430 914 Market Cap (₺ M) 2.382 1335 Share Owned 20,0% 4,8% Share Value (₺ M) 476 64

Affiliates Deducted

Mcap : ₺870 mn P / BV: 0,95 Mcap : ₺1.410 mn P / BV: 1,06

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SLIDE 28

Stock Performance

 Increase in ANSGR in 18 months: 82%  Increase in BIST-100 in 18 months: 40%

1,55 1,58 1,59 1,68 1,72 1,64 1,68 1,67 1,65 1,65 1,68 1,84 1,88 2,16 2,36 2,41 2,50 2,58 2,82

1,30 1,50 1,70 1,90 2,10 2,30 2,50 2,70 2,90 63.000 73.000 83.000 93.000 103.000 113.000

12.15 01.16 02.16 03.16 04.16 05.16 06.16 07.16 08.16 09.16 10.16 11.16 12.16 01.17 02.17 03.17 04.17 05.17 06.17

BIST-100 ANSGR

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In 1H17; Dividend from ANHYT 28 mn TRY Investment Income * 247 mn TRY Average Portfolio Income 14,1%

* ANHYT dividend excluded.

TOTAL: TRY 3,82 Billion

Deposits 74% Funds 11% Bonds 10% Stocks 4% Other 1%

 TRY 3,41 bn at 31.12.2016

Investment Portfolio

Booked Value: ₺434 Mn

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SLIDE 30

For further information please e-mail to: investor.relations@anadolusigorta.com.tr

  • r call Anadolu Sigorta Investor Relations on

(+90 850 744 02 54), (+90 850 744 01 64)

Thank you…

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.