Opportunity Day 2Q2019 8 th August 2019 UNIQUE LIFE RE SOLUTION
“ WE PROVIDE TAILORED SOLUTIONS TO MEET SPECIFIC NEEDS FOR OUR CLIENTS AND ENABLE THEM TO ENHANCE AND EXPAND INTO NEW MARKET OPPORTUNITIES . ” SUTTI RAJITRANGSON President & CEO 2
Agenda Who we are Key financial & highlights Business Outlook Q&A 3
Agenda Who we are Key financial & highlights Business Outlook Q&A 4
Vision Being unique life reinsurance solutions provider. Mission • We aim to create and develop insurance products and services with our international standard approach. • We continue to maintain our financial strength and create sustainable return to our shareholders. • We aim to optimize our resources and platforms to cope with business environment changes . 5
Who we are Life Insurance Life Reinsurance ประกันชีวิตตรง ประกันชีวิตต่อ Insurer Insured Reinsurer ผู้รับประกันภัย ผู้เอาประกันภัย ผู้รับประกันภัยต่อ Reinsurance Premium Premium เบี้ยประกันภัยต่อ เบี้ยประกันภัยชีวิต Reinsurance Coverage Life Coverage ร่วมรับความเสี่ยงจากส่วนประกันภัยต่อ ความคุ้มครองชีวิต THREL Ceding Company • We are only one Reinsurer with local service. ไทยรีมีความเข้าใจตลาดและให้บริการได้รวดเร็ว • We maintain CAR >300% which equivalent to Credit rating AAA of OIC guideline. ลูกค้าจะมีต้นทุนที่ถูกกว่าหากใช้บริการกับไทยรี AMBEST OIC Rating CGR Score 5 (Excellent) A- (Excellent) AAA • We gain market share 20% in Thai market. ไทยรีเป็นบริษัทชั้นน าในตลาดประเทศไทย 6
Characteristics of THREL Products Services Conventional Risk Management : Provide reassurance capacity and consultancy. การพัฒนาธุรกิจแบบดั้งเดิม Business Development : Partner up with life insurers to develop new products, services, and distribution channels. Consultant : Non Conventional Support UW & Claim service by experienced team of Senior Underwriters, Physician doctor, nurses, การพัฒนาธุรกิจแบบร่วมพัฒนา and staff. Knowledge : Provide tailor-made & public trainings and seminars for the industry. 7
Company History 1996 – 2018 THREL Premiums Investment Invested in TKI Life, Lao PDR 32.5% THREL’S Premium (MB) 2,500 2,400 SET100 - Entered to be part of 2,157 SET100 - Financial strength 1,975 2,000 rating by A.M. Best A- 1,851 1,624 Establish as Thaire Life Listed to SET 1,500 1,388 Assurance Co., Ltd Paid-up capital 600MB 1,145 1,000 842 รับงาน MA 5% 11 บริษัท 607 Life Department 554 449 500 of THRE 339 304 285 220 142 143 81 53 29 27 28 29 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 8
Events 2016-2018 2018 2017 - Recapture effect - U/W result reflect from Health Ins. product 2016 - Growth Health Ins. products - Income from EMCS - Project IFRS#17 - Growth Health Ins. products 9
Agenda Who we are Key financial & highlights Business Outlook Q&A 10
Thailand Market Product Trend - Basic vs Supplementary 2015 – 2017 Proportion of 2015 – 2017 Net Written Premiums Growth Supplementary product (%) Growth (%) 100% 5% 5% 6% 7% 90% 12% 10% 12% 80% 6% 70% 34% 33% 34% 5% 60% 69% 74% 4% 50% 40% 3% 30% 50% 50% 2% 49% 20% 1% 10% 0% 0% 2015 2016 2017 2015 2016 2017 Year Year Health Group Accident Others Basic Supplementary ข้อมูลจาก รายงานประจ าปี 2017 ของส านักงาน คปภ. Basic – Whole Life, Endowment, Term, Others 11 Supplementary – Group, PA, ACC, Health, Others
THREL Goal in 2019 ROE CAR Investment Yield 17% 300% 4% Combined ratio Opex ratio 90% 5% Gross Premium Growth 7% 12
Key Financial Highlights 1H2019 ROE CAR Investment Yield 13. 5 %* 340% 5.6%* Combined ratio Opex ratio 92.7% 5.3% Gross Premium Growth 7% * annualize 13
Financial Highlights Gross Premium Written & Underwriting Result Baht Million Baht Million 2,400 2,157 234 2Q18 2Q19 %YoY 1H18 1H19 %YoY 1,975 1,851 456 Premium Written 633 693 10% 1,182 1,261 7% 300 423 Earned Premium 560 550 -2% 1,117 1,122 0% 1,261 1,182 74 Underwriting Profit 95 22 -76% 163 74 -55% Investment Income 21 34 63% 36 56 57% Profit Before Tax 116 56 -51% 200 130 -35% Net Profit 94 49 -48% 163 109 -33% 2015 2016 2017 2018 Combined Ratio 81.6 94.4 84.4 92.7 1H2019 EPS (baht) 0.16 0.08 0.27 0.18 Gross premium Underwriting profit Gross premium written has been growing steadily over the past few years, and 1H2019 was increased by 7% YoY. 14
Performance by Character of Business Gross Premium 1H 2019 Vs 1H 2018 Baht Million Proportion 1,261 1,181 47% 1H2019 53% Non-conventional 663 526 + 26 % YoY Conventional - 9 % YoY 655 598 1H2018 45% 55% 1H18 1H19 Conventional Non-conventional 15
Investment Asset Baht Million 1,963 1,953 Investment Assets grew up 10 mb from YE/18 around 0.5% • Cash paid from operation -75 mb • Increasing in market price 66 mb • Interest and dividend for reinvestment 31 mb • Others -12 mb 920 47% 1,048 54% Note : Fixed income - Fixed income funds, Bond & Treasury, Debentures, Time Deposit and Loan Fixed Income Equity Stock - Equity, Flexible fund, Equity fund and Foreign investment fund Other 576 29% Equity Stock 25% 492 Property Fund & Infra Fund 393 20% 17% 341 Cash & Money market 3% 55 59 3% YE/18 1H/19 16
Investment Income Baht Million By Quarter By Half year 60 0.1 6.1% 80 7.5% 7.1% 0.08 6.0% 50 3.8% 70 5.6% 4.0% 0.06 6.8% 6.8% 4.7% 4.5% 55.9 60 40 3.5% 2.0% 33.8 0.04 31.4 50 4.4% 4.2% 18.1 0.0% 1.8% 30 8.6 35.6 0.02 40 20.8 22.1 -2.0% 15.9 5 1.5% 0.2 30 20 0 -4.0% 7.1 9.5 28.3 20.1 21 20 15.9 -6.0% -0.02 11.3 10 11.7 8.2 10 -8.0% -0.04 9.6 9.5 5.1 4.7 4.6 4.4 3.8 0 0 -10.0% 2Q/18 3Q/18 4Q/18 1Q/19 2Q/19 -0.06 1H/2018 1H/2019 -8.8 -10 -0.08 -20 Interest Dividend Capital gain & Mark to Mkt ROI ROI included Tax benefit -0.1 Capital gain & Mark to market 1H/2019 increased by 13.1 mb Dividend 2Q/19 increased by 4 mb +26% YoY due mainly to increased investment proportion +262% YoY due mainly to the growth of SET index increased in property fund & infra fund and equity stock by 11% YoY 17
Agenda Who we are Key financial & highlights Business Outlook Q&A 18
Business Outlook 2019 Underwriting Profit 2018 2017 2016 Portfolio Active Strategy New Business Management New product Claim Control management Combined Ratio New market • CLMV / Upcountry Commission Control portfolio New distribution channels review mixed • online/ telemarketing 19
Agenda Who we are Key financial & highlights Business Outlook Q&A 20
IR contact Address: Thaire Life Assurance PCL 48/15 Soi Rajchadapisek 20, Rajchadapisek Road. Samsennok, Huaykwang, Bangkok 10310 Telephone: K.Sirin +66(0) 2666 9000 ext 5420 Fax: +66(0) 2277 6227 E-mail: corpsecretary@thairelife.co.th Website: http://www.thairelife.co.th/ Disclaimer • The information contained in this presentation is intended solely for your personal reference. • Please do not circulate this material. If you are not an intended recipient, you must not read, disclose, copy, retain, distribute or take any action in reliance upon it. • Some statements made in this material are forward-looking with relevant assumptions, which are subject to uncertainties, which may cause the actual result/performance to be materially deviated from any future result/performance implies by such forward-looking statements. • Please note that the company and management/staff are note capable to control and guarantee if these forward-looking statements will be accurately materialized, they are subject to various risks and uncertainties. 21
Thank You Q&A If we aren’t able to answer your question due to limited t ime at this forum, you are welcome to call us or send E-mail. For further queries please contact Corporate Secretary : K.Sirin +66 2 666 9000 ext 5420 E-mail : corpsecretary@thairelife.co.th 22
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