Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Grupo SURA — Q4 2015 Earnings Presentation
39 slides from Grupo De Inversiones Suramericana's earnings presentation, 2016
Slide 1: 4Q 2015 Corporate Presentation - Grupo SURA
4Q 2015 CORPORATE PRESENTATION GRUPO SURA 1
Slide 2: Disclaimer
DISCLAIMER the forward-looking statements contained herein are based on Management’s current forecasts and outlook.. For better illustration and decision-making, figures for Suramericana, SURA Asset Management and its subsidiaries are administrative rather than accountant, and therefore may differ f
Slide 3: Agenda
AGENDA CORPORATE PRESENTATION GRUPO SURA STRATEGY GRUPO SURA CONSOLIDATED RESULTS SURAMERICANA INSURANCE AND SOCIAL SECURITY SURA ASSET MANAGEMENT PENSIONS, SAVINGS AND ASSET MANAGEMET BANCOLOMBIA, GRUPO ARGOS, GRUPO NUTRESA 3
Slide 4: Grupo SURA Main Figures
GRUPO SURA MAIN FIGURES INTERNATIONAL RATING ~37 S&P BBB 7.5 Fitch BBB USD Local rating Fitch AAA CONSOLIDATED REVENUES 4Q 2015: BN million clients in Colombian company with 4.4 USD IS THE COMERCIAL VALUE OF THE the longest bond maturity INVESTMENT PORTFOLIO1 9 countries 2 40 Years 157 Billion The m
Slide 5: Focus on Strategic Sectors
FOCUS ON STRATEGIC SECTORS 81.1% 78.7% *46.4 % OUR INSURANCE AND PENSIONS, UNIVERSAL INVESTMENT SOCIAL SECURITY SAVINGS AND BANKING INVESTMENT PORTFOLIO FINANCIAL INVESTMENTS INDUSTRIAL INVESTMENTS 35.3 % *35.8 % PROCESSED CEMENT, ENERGY FOOD PORTS AND REAL ESTATE *Stake in common shares As of Decem
Slide 6: Strategy
STRATEGY Our prime purpose is to inspire trust based on long- term relationships and provide added value to all those investments that make up our portfolio. Development of our Corporate Role Executive Committee CEOs strategic investments Long-term strategic Expansion and synergies Financial C
Slide 7: Investment Portfolio
INVESTMENT PORTFOLIO Other 0.5% Grupo Argos 15.8% Bancolombia 22.8% 7.5 Grupo Nutresa USD 15.6% BILLION* DECEMBER 2015 Sura Asset Suramericana Management 18.4% 26.9% Including the commercial value pursuant to accountant standards and the stakes held in GRUPO SURA and Affiliates. Considering Surameri
Slide 8: Dividends
DIVIDENDS PER COMPANY 2016E PER COUNTRY 2016E Other Grupo Argos 8.2% 7.1% Uruguay 0.7% Grupo Nutresa 8.7% Peru 10.4% 291 USD Colombia Bancolombia USD 291 MILLION SURA Asset Management 48.9% Mexico 12.7% MILLION 44.5% 24.4% Chile Suramericana 23.5% 11.0% 350 DIVIDEND EVOLUTION 290.8 300 257.8 250 190
Slide 9: Shareholders
SHAREHOLDERS SHAREHOLDERS (COMM+PREF) SHAREHOLDERS (COMM) 8.5% 10.0% Grupo Argos and subsidiaries 3.9% 5.2% 29.2% Grupo Nutresa 35.3% Colombian Pension Funds 19.9% 20.5% International Funds Retail Investors 10.3% Institutional Investors 19.7% 12.7% 24.7% TREND IN INTERNATIONAL INVESTORS Outstanding
Slide 10: Corporate Governance and Awards
CORPORATE GOVERNANCE AND AWARDS CORPORATE STANDARDS AWARDS • Grupo Sura has a Code of Good Governance in accordance with international practices. 2016 • The Board of Directors has 7 members of which 4 are independent. The chairman and vice-chairman are independent. Silver Class, 2nd place worldwide
Slide 11: Corporate Responsibility
CORPORATE RESPONSIBILITY SOCIAL DEVELOPMENT Playing an active role in a wide range of social development programs either in the form of institutional donations or the volunteer work of A COMPREHENSIVE Grupo SURA’s employee VIEW OF OUR BUSINESS CORPORATE MANAGEMENT RESPONSIBILITY Practices used to ob
Slide 12: Strategic Business Expansion
STRATEGIC BUSINESS EXPANSION PRESENCE IN THE MAIN COUNTRIES OF THE REGION STRATEGIC INVESTMENTS
Slide 13: Demographic Fundamentals
DEMOGRAPHIC FUNDAMENTALS Real GDP Growth 2009-2013 LATAM population evolution GDP Growth GDP per cápita growth 100+ 90 - 94 2010 8.1% 80 - 84 70 - 74 6.2% 5.6% 60 - 64 5.0% 4.7% Age 4.1% 4.0% 4.0% 4.3% 50 - 54 3.2% 40 - 44 2.8% 2.5% 1.9% 30 - 34 1.2% 0.8% 20 - 24 0.4% 0.2% 0.2% 10 - 14 0- 4 USA Chil
Slide 14: Financial Services Penetration
FINANCIAL SERVICES PENETRATION Pension penetration (% GDP) Banking penetration (% GDP) 195.1% 83.0% 84.4% 167.1% 68.3% 89.3% 76.5% 31.6% 47.6% 43.6% 19.8% 15.7% 19.9% 11.0% 20.8% 23.5% 24.0% 31.4% 45.3% 23.1% 27.1% 0.9% Mexico El Salvador USA Colombia Uruguay Europe Peru Dom. Republic Panama Chile U
Slide 15: Grupo SURA Consolidated Results 4Q
GRUPO SURA CONSOLIDATED RESULTS 4Q 15
Slide 16: Statement of Financial Position - Assets
STATEMENT OF FINANCIAL POSITION Consolidated 17.6 15.0 ASSETS 9.4 SHAREHOLDER’S EQUITY 7.1 LIABILITIES 7.9 8.3 2014 2014 2015 2015 ASSETS dec-15 Var. $Bn %Change Investments 6.9 1.7 32.7% dec-14 15.0 +2.6 Bn Goodwill 1.4 0.2 14.3% 17.6% Identified intangible assets 1.2 0.1 12.6% Investments in relat
Slide 17: Statement of Financial Position - Liabilities
STATEMENT OF FINANCIAL POSITION Consolidated LIABILITIES dec-15 Var. $Bn %Change dec-14 7.1 Other financial liabilities 0.8 0.5 136.4% +2.3 Bn Technical reserves 6.0 1.5 32.0% 32.5% Issued securities 1.2 0.2 20.4% Main variations 2.1 dec-15 9.4 TOTAL SHAREHOLDERS EQUITY dec-14 7.9 +0.4 Bn 4.4% dec-1
Slide 18: Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME Consolidated dec-15 Var. $ %Var dec-14 3,707.1 +701 MM Retained premiums (net) 2,391.7 503.8 26.7% 18.9% Commission income 623.4 137.0 28.2% TOTAL Revenues on services rendered 620.2 109.1 21.3% REVENUES Investment income 431.6 (15.5) -3.5% Revenues via equity metho
Slide 19: Debt
DEBT Grupo SURA DEBT MATURITY PROFILE CURRENCY EXPOSURE Banks 26.5% COP 62.4% USD 37.6% Bonds 73.5% DEBT MATURITY PROFILE 300 127 100 71 71 50 31 32 31 - - - - 2016 2017 2018 2019 . 2021 . 2023 . 2029 2030 . 2049 Figures in USD Million. USD/COP 3,149.47 19
Slide 20: SURA Insurance Consolidated Results 4Q
SURA INSURANCE CONSOLIDATED RESULTS 4Q 20
Slide 21: Regional Presence
REGIONAL PRESENCE REVENUES BREAKDOWN Market Share 8.6% Dominican Panama Market Share 19.3% Ranking #5 Republic 4.6% El Salvador 2.6% Ranking #2 4.4% Market Share 9.1% Others Colombia Ranking #4 Life 2.2% 29.9% Market Share 23.8% Ranking #1 Health 25.0% Worker's Comp 10.2% P&C 21.1% Current Presence
Slide 22: Suramericana
SURAMERICANA Consolidated figures +335.5 MM dec-15 Var. $ %Var dec-14 2,096.3 TOTAL 16.0% Retained premiums (net) 1,588.2 220.7 16.1% REVENUES Revenues on services rendered 564.9 101.2 21.8% Investment income 193.8 (3.4) -1.7% Main variations 318.5 dec-15 2,431.8 1,90.0 2,00.0 2,10.0 2,20.0 2,30.0 2
Slide 23: Life Insurance Segment
LIFE INSURANCE SEGMENT Premiums and claims ratio Premiums Retained Premiums Retained Claims Ratio dec-15 %Var dec-15 %Var dec-15 dec-14 Life 208 13.6% 183 11.8% 22.3% 25.3% Group Life 177 17.2% 174 18.0% 27.7% 31.2% Pension 194 4.3% 187 4.9% 98.0% 90.9% Health 237 16.9% 233 16.5% 60.9% 62.8% ARL (wo
Slide 24: Non-Life Insurance Segment
NON-LIFE INSURANCE SEGMENT Premiums and claims ratio Premiums Retained Premiums Retained Claims Ratio dec-15 %Var dec-15 %Var dec-15 dec-14 Auto 285 28.2% 275 28.6% 60.0% 60.5% Fire 153 12.9% 26 14.7% 34.5% 21.6% Mandatory road accident 104 20.8% 91 25.8% 46.5% 50.8% Other 195 30.1% 96 22.2% 33.5% 3
Slide 25: Health Care Segment
HEALTH CARE SEGMENT Premiums and claims ratio Services rendered Costs of services Claims Ratio dec-15 %Var dec-15 %Var dec-15 dec-14 EPS 515 23.1% 483 24.7% 93.8% 92.6% IPS 101 16.3% 70 17.9% Dinámica 55 11.1% 38 9.8% Total 671 21.0% 591 22.8% 25
Slide 26: SURA Asset Management Consolidated Results 4Q
SURA ASSET MANAGEMENT CONSOLIDATED RESULTS 4Q 26
Slide 27: SURA Asset Management: No. 1 in Pensions in Latin America
SURA ASSET MANAGEMENT Nº1 In Pensions in Latinamerica AUM: USD 25.1 Billion Market Share: 14.7% (Ranking 3) Clients: 6.2 Million AUM: USD 4.0 Billion Employees: 3,271 Market Share: 46.8% (Ranking 2) Clients: 1.4 Million Employees: 310 AUM: USD 21.7 Billion Market Share: 36.7% (Ranking 2) Clients: 5.
Slide 28: SURA Asset Management Strong Business Model
SURA ASSET MANAGEMENT Strong Business Model BRAND Business Scale Share of Wallet Value Proposition Advisory 17 MM Mandatory Voluntary Pension CLIENTS Savings Distribution Products Focus and Expanded and Synergies Specialized Offer Client Bonding and Retention 28
Slide 29: SURA Asset Management Consolidated Figures
SURA ASSET MANAGEMENT Consolidated figures dec-15 Var. $ %Change +421 MM dec-14 1,241.2 Retained premiums (net) 804.0 283.0 54.3% TOTAL 33.9% Commission income 574.7 124.8 27.7% REVENUES Investment income 223.3 10.7 5.0% Revenues via equity method 30.9 (9.2) -23.0% Main Variations 409.3 dec-15 1,662
Slide 30: Mandatory Pension Main Figures
MANDATORY PENSION Main figures COMMISSION INCOME ENCAJE (Reserve Requirement) 23.9% 26.7% 25.0% 25.9% 25.4% 3.6% 10.2% 2.2% 7.9% 6.1% 525.2 -37.5% -98.5% -24.9% 41.3% -51.2% 418.8 -47.8% -98.7% -38.6% 21.0% -58.9% 47 222.5 27 23.1 165.0 175.6 17 133.3 116.9 13 93.5 6 0 5 1 16.4 20.7 1 Chile Mexico P
Slide 31: Mandatory Pension Market Figures
MANDATORY PENSION Market figures ASSETS UNDER MANAGEMENT FUND MEMBERSHIP (MM) (USD BILLON) 19.0% 19.2% 22.2% 26.3% 8.5% 41.8% 18.0% -2.8% 0.9% -0.8% 2.0% 3.8% 5.3% 1.4% 5.5% 5.9% 7.0% 18.1% 8.5% 7.8% 6.8% 92.0 15.5 15.8 77.9 6.1 6.1 24.9 29.7 18.8 20.3 3.9 4.1 18.0 21.4 11.9 14.5 1.8 1.8 2.0 2.0 1.4
Slide 32: Voluntary Savings Segment Main Figures
VOLUNTARY SAVINGS SEGMENT Main figures COMMISSION INCOME OPERATING AND ADMINISTRATIVE EXPENSE 50.6% 38.2% 69.4% 36.7% 46.5% 66.4% 37.5% 15.6% 234.8% 25.9% 20.2% 38.6% 17.1% 24.4% 56.4 48.9% 46 39.1% 19.6% -5.5% 186.8% 26.6% 38.5 31 22.5 25.1 22.2 19.8 14.4 16.7 16.1 13.5 3.7 6.3 2.8 2.6 3.1 0.1 0.3
Slide 33: Voluntary Savings Segment Market Figures
VOLUNTARY SAVINGS SEGMENT Market figures ASSETS UNDER MANAGEMENT CLIENTS (USD MILLION) (THOUSAND) 33.7% 26.8% 36.7% 138.6% 4.0% 23.2% 18.5% 12.7% 19.6% 123.1% 4.0% 12.7% 7.4 5.0% 26.5% 5.9% 203.5% -0.4% 7.1% 6.0 786 842 3.3 363 381 267 266 2.6 2.0 1.6 1.7 120 152 1.5 33 35 3 8 0.3 0.4 0.0 0.0 Chile
Slide 34: Insurance Segment Main Figures
INSURANCE SEGMENT Main figures TOTAL PREMIUMS ADJUSTMENTS TO RESERVES 60.8% 29.6% 41.0% 51.5% 62.5% 15.6% 45.5% 52.0% 34.4% 12.6% 15.4% 27.0% 35.9% 0.5% 19.0% 27.3% 691 821.8 489 455 553 542 344 301 98 127 142 84 119 101 73 82 Chile Mexico Peru Total Chile Mexico Peru Total dec-14 dec-15 %Change %Va
Slide 35: Bancolombia, Grupo Argos y Grupo Nutresa Consolidated Results 4Q
BANCOLOMBIA, GRUPO ARGOS Y GRUPO NUTRESA CONSOLIDATED RESULTS 4Q 35
Slide 36: Bancolombia
BANCOLOMBIA • Leading franchise in Colombia an Central America, markets with attractive growth perspectives • Focus on growth in profitable segments • Preserves a culture of conservative risk management, maintaining sound levels of capital and liquidity • ADR Level 3 MAIN FIGURES USD 61.3 Bn 23.4% M
Slide 37: Grupo Argos
GRUPO ARGOS STRATEGIC INVESTMENTS Cement Energy Ports Coal Real Estate Infrastructure EBITDA DISTRIBUTION MAIN FIGURES Holding 25.0% Cement USD 838 MM USD 4.0 Bn Market Cap EBITDA 47.0% Coal 1.0% Port Facilities 2.0% Real Estate 21% 8.1% Dividend Growth (Common Share) EBITDA Margin 1.0% 2014-2015 In
Slide 38: Grupo Nutresa
GRUPO NUTRESA • Leader in the processed food industry in Colombia and the fourth* largest in Latin America • Presence in 15 countries with production plants in 12 of them • In 2013 it acquired Tresmontes Lucchetti, the second largest processed food company in Chile. It also made a joint venture with
Slide 39: Contact - www.gruposura.com.co
www.gruposura.com.co CEO: DAVID BOJANINI CFO: IGNACIO CALLE IR Director: JUAN CARLOS GOMEZ IR Specialist: MARIA ADELAIDA OCHOA E-mail: ir@gruposura.com.co Phone: (574) 4355941 GRUPO SURA App (App Store – Google Play) 39