Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Q1 2025 Earnings Presentation
16 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's earnings presentation, Apr 29, 2025
Slide 1: Anadolu Sigorta 1Q25 Financial Results
ANADOLU SİGORTA 1Q25 Financial Results 29 April 2025 Fund Management and Investor Relations Department 1
Slide 2: Highlights
Highlights • Real growth: Anadolu 1Q25 premium volume is at a strong TL 23,2 bn, (+40,9%y/y vs. 38,1% March infl.) Profitability • Real profitability: Trailing Twelve Month solo RoAE stands at 44,3% (Consolidated 56,0%) • Discount rate applied to technical reserves has been reduced by 250bps to 32,5
Slide 3: Non-Life Insurance Market
Non-Life Insurance Market Premium Production1 (TL mn) 1Q24 1Q25 Y/Y(%) Non-Life - Market Shares Competitor 1 Competitor 1 28.163 41.402 47,0 15,5% Competitor 2 20.091 30.375 51,2 Other 31,5% Anadolu Sigorta 16.462 23.192 40,9 Competitor Competitor 3 14.227 20.685 45,4 2 11,4% Competitor 4 3.575 13.2
Slide 4: Premium Volume and Composition
Premium Volume and Composition OTHER 19% Anadolu Sigorta GWP (TL mn) Non-Life Sector GWP1 (TL mn) MOTOR 35% 1Q24 1Q25 Y/Y (%) 1Q24 1Q25 Y/Y (%) ANSGR TL 23,2 bn HEALTH MTPL 2.581 3.800 47,2 41.456 68.682 65,7 28% FIRE 18% MOD 3.394 4.216 24,2 25.508 32.621 27,9 Fire and 3.406 4.253 24,9 19.995 27.75
Slide 5: Market Share & Rank
Market Share & Rank1 Rank Market Share Market Share BRANCHES 1Q25 1Q25 1Q24 MOD 1 12,9% 13,3% Watercraft 1 27,2% 26,1% Transportation 1 14,6% 12,5% Aircraft 2 9,0% 13,0% Aircraft Liability 2 4,7% 11,9% Fire 3 9,8% 10,6% General Liability 3 11,5% 10,1% General Losses 3 6,6% 7,3% Health 4 9,7% 8,9% Ac
Slide 6: Sales Channels
Sales Channels Premium Production – Anadolu Premium Production1 – Sector 25.000 TL mn 300.000 TL mn 7% 250.000 13% 20.000 18% 200.000 18% 10% 14% 15.000 18% 16% 12% 150.000 15% -1 10.000 16% 14% 100.000 61% 56% 5.000 56% 50.000 55% 0 0 1Q24 1Q25 1Q24 1Q25 Agency Bank Broker Other Agency Bank Broker
Slide 7: Branch Outlook
Branch Outlook Total Portfolio1 Q/Q improvement1 Fire and Nat. Disasters 111,1% 110,7% 105,4% 103,9% 107,3% 109,6% 117,3% 131,1% 100,4% 102,0% 104,7% 96,6% 99,6% 70,7% QUARTERLY COMBINED RATIO CUMULATIVE COMBINED RATIO - TTM QUARTERLY COMBINED RATIO CUMULATIVE COMBINED RATIO - TTM 1Q24 2Q24 3Q24 4Q2
Slide 8: Technical Profitability – Long-term Perspective
Technical Profitability – Long-term Perspective Claims Ratio (%) 1Q24 1Q25 Combined Ratio (%) 1Q24 1Q25 MOD 60,4% 50,4% MOD 86,2% 78,7% MTPL 74,9% 124,8% MTPL 103,3% 151,7% Fire 59,1% 75,0% Fire 109,6% 131,1% Health 102,9% 92,4% Health 135,8% 114,6% Accident 11,3% 18,1% Accident 78,4% 72,3% General
Slide 9: Investment Portfolio
Investment Portfolio Bonds 21% Short Term Interest In 1Q2025: Instruments 60% AuM at TL 58,5 bn Investment Income1 TL 3,9 bn Commodity as of 1Q2025 & Venture Capital 3% Quarterly Portfolio Return 7,1% Equity 12% Hedge Funds 4% ‣TL 55,5 bn at 31.12.2024 (1) Excludes TL 500 mn Anadolu Hayat dividend F
Slide 10: Income Statement (TL mn)
Income Statement (TL mn) 1Q24 1Q25 P&L 1Q24 1Q25 Y/Y (%) Y/Y (%) (Cons.) (Cons.) Tech. Income (1) 9.120 13.025 43 9.120 13.025 43 Tech. Expenses -9.151 -14.392 57 -9.151 -14.392 57 Net Financial Inc. + Other Exp. (2) 3.651 4.074 12 3.651 3.796 4 Gross Profit 3.620 2.707 -25 3.620 2.429 -33 Tax & Def
Slide 11: Growth Performance
Growth Performance Total Assets (TL mn) Tech. Reserves (TL mn) 107.219 96.198 58.591 51.342 58.368 11,5% 35.982 14,1% 30.706 20.438 16.776 10.779 2021 2022 2023 2024 1Q25 2021 2022 2023 2024 1Q25 Assets Under Management (TL mn) Shareholders' Equity (TL mn) 30.656 29.104 55.524 58.503 32.026 5,4% 14.
Slide 12: Net Profit (TL mn)
Net Profit (TL mn) -21% Technical Earnings -1.367 2.867 Investment and Dividend Income 4.342 2.256 Amortization & Depreciation -50 Provisions and Other Income -265 Rediscount 60 Tax -465 Net Profit 2.256 1Q24 1Q25 Fund Management and Investor Relations Department 12
Slide 13: Net Profit Drivers (TL mn)
Net Profit Drivers (TL mn) 2.867 300 2.256 600 -84 -1.336 -91 1Q24 Net Profit Underwriting Investment Tax Dividend Other 1Q25 Net Profit Fund Management and Investor Relations Department 13
Slide 14: Strong RoE Generation
Strong RoE Generation 100% 90% 80% 75,2% 70% 64,2% 58,4% 60% 56,0% 48,5% 50% 44,3% 40% 36,2% Given Anadolu’s strong RoE 30% performance, 23,9% 24,5% Anadolu Sigorta trades at 17,4% undemanding P/B 20% valuations both in relative and absolute terms, 10% 0% 2021 2022 2023 2024 1Q25-TTM RoAE - Solo RoA
Slide 15: Disclaimer
Disclaimer 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 meaning. These
Slide 16: Thanks
THANKS Fund Management and Investor Relations Department 16