Turkiye Sigorta A.s. · BIST:TURSG
Turkiye Sigorta A.s — Q1 2025 Earnings Presentation
26 slides from Turkiye Sigorta A.s's earnings presentation, Apr 21, 2025
Slide 1: Earnings Presentation 1Q25 Results
Earnings Presentation 1Q25 Results 21 April 2025 Investor Relations, Türkiye Sigorta 1
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Türkiye Sigorta AŞ, based on general ideas and it is subject to change without notice. It is based on information obtained from sources that the Company believes to be reliable, but the Company does not guarantee the authenticity and completeness of inform
Slide 3: Table of contents
Table of contents 01 Türkiye Sigorta at a Glance 02 Premium Production 03 Financial Results 04 Key Takeaways 05 Strategic Positioning 06 Appendix 3
Slide 4: 1. Türkiye Sigorta at a Glance
1. Türkiye Sigorta at a Glance 4
Slide 5: 1Q25: Key facts and figures
1Q25: Key facts and figures Türkiye Sigorta at a Glance 01 Our financial resilience being tested in both underwriting and investment performance Robust profitability and market positioning Healthy Production Strong Profitability Significant Investment Results GWP* GWP Growth Net Income (NI) NI Growt
Slide 6: 1Q25: Very good start into 2025
1Q25: Very good start into 2025 Türkiye Sigorta at a Glance 01 GWP Production (₺ million, yoy) Technical Profit (₺ million, yoy) 47% 15% AuM (₺ million, yoy) Net Income (₺ million, yoy) 58% 60.405 28% 38.128 AuM Investment Income 3.732 5.927 1Q24 1Q25 *F&ND: Fire and Natural Disasters 6
Slide 7: 2. Premium Production
GOTURKIYE SiGORTA 2. Premium Production
Slide 8: GWP: Strong new business momentum
GWP: Strong new business momentum Premium Production 02 Türkiye Sigorta reported above inflation production in Health, General Losses, MOD, and F&ND segments 41 billion TL premium, showing a notable 47% yoy growth spread over mainly Health and Non-motor segments. Excellent new business momentum
Slide 9: GWP: Sustainable leadership
GWP: Sustainable leadership Premium Production 02 Overall premium production increased by 47% compared to the previous period, indicating strong growth momentum. as of 03.2025 as of 03.2024 as of 02.2025* Strong sales performance across all ΔYoY GWP Share in GWP Share in Sector Market Main Segment
Slide 10: GWP: Strong distribution channels
GWP: Strong distribution channels Premium Production 02 We keep leveraging the power of our unique distribution model that differentiates us from the industry in 1Q25 1Q24 19,7% 24,0% 47,0% 9,4% Direct Agency Bank 1Q25 19,4% 22,4% 45,3% 13,0% Broker Direct Agency Bank Broker No commission/brokerag
Slide 11: 3. Financial Results
GOTURKIYE SiGORTA 3. Financial Results
Slide 12: Net Income: Record profit levels (up 28%)
Net Income: Record profit levels (up 28%) Financial Results 03 We reported record net income underpinned by excellent AuM performance and smart growth in Health segment Net Profit Capital Adequacy Ratio (CAR) ₺ million % 185 181 147 Net Income Growth yoy: 28% qoq: 47% 6M24 12M24 1Q25 12
Slide 13: P&L Distribution: Resilience (up 28%)
P&L Distribution: Resilience (up 28%) Financial Results 03 Last year’s discount rate hike drove a positive impact in 1Q24. This year’s cut from 35% to 32.5% flipped it 2025 Q1 negative. Agriculture – classified under General Losses – reported a significantly lower technical profit compared to 1Q
Slide 14: Technical Profit: Continuous excellence in operational management (up 15%)
Technical Profit: Continuous excellence in operational management (up 15%) Financial Results 03 Underwriting resilience: Marvellous technical results despite agricultural frost, and 2.5% decrease in cash flow discount rate* Main segments ₺ million Positive: significant growth and return on investm
Slide 15: Underwriting Breakdown: Combined ratio below 100%
Underwriting Breakdown: Combined ratio below 100% Financial Results 03 Operational Efficiency: Underwriting policies are balancing caution and profitability 3M24 NON-MOTOR HEALTH MOTOR 3M25 General Losses F&ND Accident MTPL MOD 149 96 106 92 102 70 76 66 63 57 Loss 11 12 1 0 Ratio (%) 18 21 40 39 12
Slide 16: AuM: Uplifting scale (investment income up 59%)
AuM: Uplifting scale (investment income up 59%) Financial Results 03 We optimized returns while managing risks through real-time portfolio adjustments AuM and Total Investment Income AuM Breakdown Portfolio size exluding AuM (₺ million) arbitrage increased by 58% in Investment Income 5% 2% 60.405
Slide 17: 4. Key Takeaways
GOTURKIYE SiGORTA 4. Key Takeaways
Slide 18: 1Q25 Key Takeaways: Confident but prudent
1Q25 Key Takeaways: Confident but prudent Key Takeaways 04 Record premium generation & profitability: #1 position in non-life insurance sector: GWP : 41 billion TL (up 47%) Market Share : 16%* Net Income : 4.5 billion TL (up 28%) Exceptional growth in Health segment RoE: 59% Strong balance sheet: St
Slide 19: 5. Appendix
GOTURKIYE SiGORTA 5. Appendix
Slide 20: Income Statement
Income Statement Appendix 05 2023 2024 1Q24 1Q25 YoY Gross Written Premiums 59,518 101,366 28,163 41,402 47% - Premiums Transferred to the Reinsurer -24,573 -52,177 -16,365 -22,092 35% - Other -1,145 -1,019 -213 -246 16% - Unearned Premiums Provision -12,944 -6,319 -2,347 -6,249 166% - Unexpired Ris
Slide 21: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios Appendix 05 Summary Balance Sheet (₺ million) 2023 2024 1Q24 1Q25 YoY Cash and Cash Equivalents 31,547 25,228 28,922 27,886 -4% Banks 27,744 20,602 25,344 23,434 -8% Financial Assets 21,924 34,327 26,910 43,313 61% Receivables from Main Operations 11,330 19,005 17,927 30,4
Slide 22: Quarterly and Cumulative GWP Production
Appendix Appendix 05 Quarterly GWP Production (million ₺) Cumulative GWP Production (million ₺) Premium Production 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY 3M24 1H24 9M24 2024 3M25 YoY General Losses 8,276 7,046 3,660 8,833 12,572 42% 52% 8,276 15,322 18,982 27,815 12,572 52% F&ND 7,301 6,351 6,149 5,721 10
Slide 23: Quarterly and Cumulative Technical Profit
Appendix Appendix 05 Quarterly Technical Profit (million ₺) Cumulative Technical Profit (million ₺) Technical Profit 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY 3M24 1H24 9M24 2024 3M25 YoY General Losses 725 925 387 611 711 16% -2% 725 1,649 2,036 2,647 711 -2% F&ND 1441 2,160 2,385 2,335 1,713 -27% 19% 1,441
Slide 24: Loss, Expense, Commission and Combined Ratios
Appendix Appendix 05 Loss Ratio Expense Ratio Commission Ratio Combined Ratio (Cumulative) (Cumulative) (Cumulative) (Cumulative) Segments 3M24 2024 3M25 3M24 2024 3M25 3M24 2024 3M25 3M24 2024 3M25 General Losses 65.6% 55.4% 96.2% 15.2% 15.6% 14.6% -23.0% -27.8% -19.2% 57.8% 43.1% 91.6% Non-motor F
Slide 25: For further information: Investor Kit
For further information: INVESTOR KIT investor.relations@turkiyesigorta.com.tr Name Responsibility E-mail Phone Şahika Balbay Demiroğlu Director sahika.demiroglu@turkiyesigorta.com.tr +90 (212) 310 88 64 Sözer Şimşek Manager sozer.simsek@turkiyesigorta.com.tr +90 (212) 310 38 37 Dilay Akın Asst. Spe
Slide 26: Sizin
Sizin Kiymetinizi billiyoruz Kaynaklanimizt sizi oldugunuz gibi a Tuirkiye'nin lider sigorta sirketi olarak kabullenmek — Tipki bir Biz Sigortaciligin Milli Takimyiz. yenilike ve disiincelerinizin eter sicin akig acimizla sirekli ° dinlenmeye aile gelistiriyor ve bu gelisimi ihtiyag duyulan her alan