Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Q3 2022 Earnings Presentation
28 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's earnings presentation, Nov 3, 2022
Slide 1: Financial Results 22Q3 Earnings Call
Financial Results 22Q3 Earnings Call 03.11.2022 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Company & Market Overview_____ 3 Technical Results _____________ 13 Financial Highlights _____________ 21 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 2
Slide 3: Company & Market Overview
Company & Market Overview Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 3
Slide 4: Highlights – Sector
Highlights – Sector Sector Performance • Premium production at ₺126,3 bn (116,8% ytd) • Growth above CPI • Unexpired Risk Reserves – Calculation methodology change Motor Branches (MOD&MTPL) • Monthly incremental rate increased to %4,75 effective from 1st September • One – off price increase %20 (%10
Slide 5: Top 10 Non-Life Companies in the Sector
Top 10 Non-Life Companies in the Sector Premium Premium Production Share by Companies (₺ Mn) Production Production Change 21M9 22M9 (%) Türkiye 13% Türkiye 7.718 16.106 108,7 Other Anadolu 7.122 15.463 117,1 31% Allianz 6.663 13.372 100,7 Anadolu 12% Aksigorta 4.471 8.568 91,6 HDI 3.123 8.513 172,6
Slide 6: Highlights – Anadolu
Highlights – Anadolu Premium growth in main branches • Ranked in top three at 15 non-life branches • MOD growth 304% vs. sector growth 256% in 22Q3 • MTPL growth 162% vs. sector growth 158% in 22Q3 Portfolio Allocation Updates • CPI linked Treasury Bonds • Increase in FX Long Position Investment por
Slide 7: Highlights – Anadolu
Highlights – Anadolu MOD-Average Premium Increase MOD-Average Vehicle Price Increase 18.000 16.000 800.000 14.000 700.000 12.000 600.000 10.000 500.000 8.000 400.000 6.000 300.000 4.000 2.000 200.000 0 100.000 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 0 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-
Slide 8: Highlights – GPW
Highlights – GPW Health Motor Other Anadolu 66% 149% 98% TRY 15,5 bn 23% 34% 19% +117% 21M9 22M9 21M9 22M9 21M9 22M9 Health Motor Other Sector 144% 91% 108% TRY 126,3 bn 27% +117% 23% 16% 21M9 22M9 21M9 22M9 21M9 22M9 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Invest
Slide 9: Premium Production
Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 21M9 22M9 ΔYoY (%) 21M9 22M9 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 1.955 4.020 105,7 16.010 34.985 118,5 MOD 1.245 3.958 217,9 9.426 27.045 186,9 Fire and Nat. D. 1.381 2.821 104,4 9.111 17.256 89,4 Health 852 1.418 66,4 8
Slide 10: Market Share & Rank (TRY mn)
Market Share & Rank (TRY mn) Rank Market Share BRANCHES 21M9 22M9 Growth (%) 22M9 22M9 MOD 1.245 3.958 1 14,6% 217,9 Fire 1.381 2.821 1 16,4% 104,4 Watercraft 220 554 1 33,0% 152,5 General Liability 313 495 1 12,6% 58,1 Aircraft 90 171 1 49,3% 90,0 Aircraft Liability 64 118 1 39,9% 83,7 MTPL 1.955 4
Slide 11: Net Profit Drivers
Net Profit Drivers 498 Unconsolidated (TRY mn) (*) -82 567 Consolidated (TRY mn) (*) Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department (*) Transferred financial income is excluded 11
Slide 12: Distribution Channels
Distribution Channels Premium Production – ANSGR Premium Production – Sector 18.000 140.000 Millions 16.000 120.000 11% 14.000 14% 100.000 15% 12.000 12% -1 13% 12% 80.000 10.000 -2 8.000 60.000 13% 15% -2 6.000 12% 15% 11% +1 40.000 15% 61% 62% 4.000 20.000 +4 2.000 62% 57% TRY mn 0 TRY mn 0 21M9 2
Slide 13: Technical Results
Technical Results Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 13
Slide 14: Accident – GPW and Technical Earnings
Accident – GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +73,1% +39,4% +14,5 6,0 92 66,7% 4,3 52,2% 53 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 14
Slide 15: Health – GPW and Technical Earnings
Health – GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +95,9% +100,7% +30,4 354 122,1% 460 91,7% 176 235 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 15
Slide 16: MOD – GPW and Technical Earnings
MOD – GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +303,9% +102,4% -23,2 1.807 839 121,9% 98,7% 415 447 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 16
Slide 17: General Losses – GPW and Technical Earnings
General Losses – GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +74,6% +35,7% -3,6 220 113,9% 150 110,3% 126 111 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 17
Slide 18: Fire & Nat. D. – GPW and Technical Earnings
Fire & Nat. D. – GPW and Technical Earnings Combined Ratio GPW (mn TRY) Claims Net (mn TRY) +151,4% +34,3% -18,6 1.006 128,7% 237 110,1% 176 400 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 18
Slide 19: MTPL – GPW and Technical Earnings
MTPL – GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +161,7% +177% +84,1 1.270 208,1% 2.007 124,0% 767 458 21Q3 22Q3 21Q3 22Q3 21Q3 22Q3 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 19
Slide 20: Profitability – Combined Ratio
Profitability – Combined Ratio Combined Ratio 21M9 22M9 MOD 106,4% 121,3% MTPL 125,7% 173,2% Fire 121,4% 117,3% Health 103,3% 126,2% Accident 60,3% 67,7% General Liability 295,3% 74,8% General Losses 105,6% 116,1% Total 116,2% 130,3% 128% 130% 113% 111% 106% 10% 12% 10% 10% 15% 16% 13% 9% 14% 14% 10
Slide 21: Financial Highlights
Financial Highlights Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 21
Slide 22: Growth Performance
Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) 16.356 23.932 16.776 10.779 12.076 7.774 9.767 5.184 6.212 7.904 51,7% 42,7% 2018 2019 2020 2021 22M9 2018 2019 2020 2021 2022M9 Assets Under Management (mn TRY) (*) Shareholders' Equity (mn TRY) 13.084 4.072 3.204 9.297 2.810 7.32
Slide 23: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 21Q3 22Q3 Change (%) P&L 21Q3 22Q3 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 1.674 3.194 91 1.674 3.194 91 Tech. Expenses -1.948 -4.223 117 -1.948 -4.223 117 Net Financial Inc. + Other Exp. (*) 311 1.173 278 345 1.256 264 Gross Profit 37 145 291 72 227 217 Tax &
Slide 24: Net Income (₺ mn)
Net Income (₺ mn) +46% Technical Earnings -2.167 498 Investment income 2.937 Dividend income 88 340 Amortization & Depreciation -109 Provisions -166 Rediscount -10 Other income 8 Tax -83 21Q3 22Q3 Net income 498 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Rel
Slide 25: Solo & Consolidated Figures (₺ mn)
Solo & Consolidated Figures (₺ mn) 1150 27,4% 28,6% 28,8% 29,0% 24,2% 950 21,2% 24,0% 23,9% 18,7% 18,6% 17,4% 19,9% 750 19,0% 590 567 550 510 522 498 14,0% 449 461 403 350 308 324 9,0% 150 4,0% -50 2018 2019 2020 2021 22M9 -1,0% Net Profit Net Profit-Consolidated ROAE ROAE-Consolidated Copyright © 2
Slide 26: Investment Portfolio
Investment Portfolio Deposits 14% Stock 8% In 22M9; TRY 13,1bn Dividend from ANHYT 88 mn TRY Bonds 57% Investment Income 2.549 mn TRY Funds 21% Portfolio Return ~* 36,5% * ANHYT dividend excluded. ‣TRY 11,3 bn at 30.06.2022 ‣TRY 9,3 bn at 31.12.2021 *Accrued yield in p&l table Copyright © 2022, Anad
Slide 27: Disclaimer Statement
Disclaimer Statement 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 mean
Slide 28: Thanks
THANKS Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 28