Thai Reinsurance Public Co., Ltd. · SET:THRE

Thai Reinsurance Public — Q2 2020 Earnings Presentation

14 slides from Thai Reinsurance Public's earnings presentation, Aug 13, 2020

  1. Slide 1: Q2/2020 Results & 2H20 Outlooks

    Q2/2020 Results & 2H20 Outlooks

  2. Slide 2: Key messages in Q2/20

    Key messages in Q2/20 • NPW grew both QoQ and YoY • Retrocession expense dropped significantly • Underwriting turns to profit • Investment yield above our guideline • Strong position with CAR ~ 317% • “A-” (Strong); The outlook is stable by Fitch

  3. Slide 3: Snapshots

    Snapshots System wide (THBm) Q2/19 Q1/20 Q2/20 QoQ YoY 6M19 6M20 YoY Gross written premium 1,283 1,073 1,237 15% -4% 2,567 2,311 -10% Net written premium 967 984 1,050 7% 9% 1,846 2,034 10% Net earned premium 947 815 957 17% 1% 1,815 1,772 -2% U/W profit (loss) -93 -47 27 157% 129% -125 -21 +83% Net

  4. Slide 4: Underwriting results

    Underwriting results System-wide (excl. 9 projects) Items (THBm) Q2/19 Q1/20 Q2/20 QoQ YoY 6M19 6M20 YoY GPW 1,073 1,039 1,184 14% 10% 1,966 2,223 13% NPW 935 979 1,042 6% 11% 1,756 2,021 15% NEP 895 794 945 19% 6% 1,712 1,739 2% Combined ratio 101.4% 101.8% 96.0% -5.8pp. -5.4pp. 98.6% 98.6% 0.0pp.

  5. Slide 5: Underwriting results - Conventional

    Underwriting results Conventional Items (THBm) Q2/19 Q1/20 Q2/20 QoQ YoY 6M19 6M20 YoY GPW 549 419 603 44% 10% 996 1,022 3% NPW 415 360 462 28% 11% 794 822 4% NEP 412 351 397 13% -4% 816 748 -8% Combined ratio 104.7% 103.4% 97.8% -5.6pp. -6.9pp. 98.4% 100.4% +2.0pp.

  6. Slide 6: Underwriting results - Non-conventional

    Underwriting results Non-conventional (excl. 9 projects) Items (THBm) Q2/19 Q1/20 Q2/20 QoQ YoY 6M19 6M20 YoY GPW 524 620 581 -6% 11% 971 1,201 24% NPW 520 619 580 -6% 12% 962 1,199 25% NEP 484 444 548 23% 13% 896 991 11% Combined ratio 98.6% 100.6% 96.3% -4.3pp. -2.3pp. 98.8% 98.2% -0.6pp.

  7. Slide 7: Business breakdown by NPW

    Business breakdown by NPW 6M19 6M20 43% Conventional 40% 5% 9-projects 1% 52% Non-conventional 59% 7% Property 7% 2% Marine &cargo 1% 25% Motor 24% 55% PA&H 61% 11% Others 7%

  8. Slide 8: Investment performance

    Investment performance Investment assets ROI THB 3,768m 4.7% Common stock, 6M20 31% 4.6% Bank deposits, 23% 6.0% 6M19 5.5% T-bills & T-bonds, 21% Report Excl. extra-items Unit trusts, 17% Debentures & loans, 7%

  9. Slide 9: Outlooks for FY2020

    Outlooks for FY2020 • Projects in pipeline: 28 local & 2 foreign • Expected NPW grow ~ 10%YoY • Lower retrocession expenses • Expected investment yield above 4.5% • New projects on service-side

  10. Slide 10: Q&A

    Q&A

  11. Slide 11: Appendix

    Appendix

  12. Slide 12: Financial statement

    Financial statement Quarterly income statement Q2/19 Q1/20 Q2/20 QoQ YoY 6M19 6M20 YoY Gross premium written 1,283 1,073 1,237 15% -4% 2,567 2,311 -10% Net premium written 967 984 1,050 7% 9% 1,846 2,034 10% Net earned premium 947 815 957 17% 1% 1,815 1,772 -2% Net claims 532 436 482 11% -9% 965 918

  13. Slide 13: Contact us

    Contact us Mr. Bheerawas Bhunakh, IR • (66)2-660-6111 #1429 • ir@thaire.co.th • http://investor.thaire.co.th/home.html

  14. Slide 14: Disclaimer

    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

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