Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR

Anadolu Anonim Turk Sigorta Sirketi A.s — Q4 2023 Earnings Presentation

25 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's earnings presentation, Feb 9, 2024

  1. Slide 1: Financial Results 23Q4 Earnings Call

    Financial Results 23Q4 Earnings Call Feb 9, 2024 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1

  2. Slide 2: Content

    CONTENT Company & Market Overview_____ 3 Technical Results _____________ 12 Financial Highlights _____________ 17 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 2

  3. Slide 3: Company & Market Overview

    Company & Market Overview Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 3

  4. Slide 4: Highlights – Sector

    Highlights – Sector Sector • Premium production at ₺429 bn (110% YoY) • Regulator increases discount rate from 28% to 35% • Minimum wage increased by 100% (YoY) (49% increase from mid year) Motor Branches (MOD&MTPL) • MTPL gradual cap increase discounted to 2% in 2023Q4 per month • MTPL gradual cap

  5. Slide 5: Top 10 Non-Life Companies in the Sector

    Top 10 Non-Life Companies in the Sector Premium Premium Change (₺ Mn) Production Production (%) Production Share by Companies FY22 FY23 Türkiye Türkiye 25.173 59.518 136,4 14% Allianz 22.308 46.637 109,1 Other 30% Anadolu 23.756 44.228 86,2 Allianz 11% Axa 17.491 36.112 106,5 Aksigorta 13.563 27.299

  6. Slide 6: Highlights – Anadolu

    Highlights – Anadolu Core Business • MOD claims ratio maintains 60% level (23M9 – 60%) • Price increase for industrial fire policies • Strong growth in health branch. Focused on corporate health policies MTPL • MTPL growth 46% vs. sector growth 105% in FY23 • MTPL policies being sold at cap prices •

  7. Slide 7: Highlights – Branch Breakdown & Growth Rate

    Highlights – Branch Breakdown & Growth Rate OTHER 19% Health Motor Other 102% MOTOR 148% 159% ANSGR 47% TRY 44,2 bn 94% HEALTH 89% 13% 64% FIRE 21% FY22 FY23 FY22 FY23 FY22 FY23 OTHER Health Motor Other 21% 135% 172% 118% MOTOR 95% 47% 98% SECTOR 130% TRY 429,2 bn HEALTH 17% FIRE FY22 FY23 15% FY22

  8. Slide 8: Premium Production

    Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) FY22 FY23 ΔYoY (%) FY22 FY23 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 6.055 8.831 45,9 57.588 118.045 105,0 MOD 6.524 11.763 80,3 44.514 84.212 89,2 Fire and Nat. D. 4.171 9.173 119,9 27.337 65.477 139,5 Health 2.355 5.844 14

  9. Slide 9: Market Share & Rank

    Market Share & Rank Rank Market Share Market Share Market Share BRANCHES FY23 FY22 FY23 Change Aircraft 1 34,2% 49,8% 15,6 Watercraft 1 33,2% 30,7% -2,5 Aircraft Liability 2 14,3% 33,9% 19,6 MOD 2 14,7% 14,0% -0,7 Fire 2 15,3% 14,0% -1,3 Marine Transportation 2 15,1% 13,5% -1,6 MTPL 3 10,5% 7,5% -3,

  10. Slide 10: Net Profit Drivers (₺ Mn)

    Net Profit Drivers (₺ Mn) 5.909 Mn TL Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department (*) Transferred financial income is excluded 10

  11. Slide 11: Distribution Channels

    Distribution Channels Premium Production – ANSGR Premium Production – Sector 50.000 500.000 Millions 45.000 450.000 -2 -6 11% 10% 40.000 400.000 12% 35.000 350.000 16% +1 +1 30.000 14% 300.000 14% 25.000 +1 250.000 13% 20.000 11% 200.000 16% 13% 15% 15.000 150.000 14% 63% 60% 10.000 100.000 +5 63% 5

  12. Slide 12: Technical Results

    Technical Results Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 12

  13. Slide 13: GPW and Technical Earnings: Accident, Health

    GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +156,0% +98,9% +0,2 19,0 Accident 296 66,3 % 66,5 % 9,5 116 22Q4 23Q4 22Q4 23Q4 22Q4 23Q4 GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +151,3% +126,3% -14,8 2.354 Health 1.124 139,2% 937 497 124,4 % 22Q4 23Q4 22Q4 23Q4 22Q

  14. Slide 14: GPW and Technical Earnings: MOD, MTPL

    GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +61,4% +82,0% -0,2 4.140 1.634 MOD 2.566 898 91,0% 89,8% 22Q4 23Q4 22Q4 23Q4 22Q4 23Q4 GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +50,8% +59,1% +39,9 3.067 MTPL 2.034 1.534 2.441 297,2% 257,3% 22Q4 23Q4 22Q4 23Q4 22Q4 23

  15. Slide 15: GPW and Technical Earnings: Fire & Nat. D., General Losses

    GPW and Technical Earnings GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +148,5% +21,9% -44,1 3.353 485 398 136,8% Fire & Nat. D. 1.349 92,7% 22Q4 23Q4 22Q4 23Q4 22Q4 23Q4 GPW (mn TRY) Claims Net (mn TRY) Combined Ratio +92,7% +73,3% +9,7 986 107,1% General Losses 512 211 122 97,4% 22Q4 23Q4 22Q4

  16. Slide 16: Profitability – Combined Ratio

    Profitability – Combined Ratio Combined Ratio (%) FY22 FY23 Claims Ratio (%) FY22 FY23 MOD 109,8 84,1 MOD 83,0 59,7 MPTL 198,2 191,2 MPTL 167,1 159,8 Fire 123,8 119,5 Fire 73,1 83,8 Health 130,1 112,8 Health 99,5 84,5 Accident 67,3 71,9 Accident 11,5 17,2 General Losses 111,2 103,0 General Losses 85

  17. Slide 17: Financial Highlights

    Financial Highlights Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 17

  18. Slide 18: Growth Performance

    Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) 35.982 58.368 20.438 30.706 16.776 90,1% 10.779 76,1% 12.076 6.212 7.774 9.767 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Assets Under Management (mn TRY) (*) Shareholders' Equity (mn TRY) 14.204 32.026 17.536 6.048 9.297 82

  19. Slide 19: Income Statement (₺ mn)

    Income Statement (₺ mn) Change (%) 22Q4 23Q4 Change (%) P&L 22Q4 23Q4 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 3.679 6.770 84 3.679 6.770 84 Tech. Expenses -4.998 -8.963 79 -4.998 -8.963 79 Net Financial Inc. + Other Exp. (**) 2.019 2.403 19 2.037 2.451 20 Gross Profit 700 210 -70 717 258 -64 Ta

  20. Slide 20: Net Income (₺ mn)

    Net Income (₺ mn) 422% Technical Earnings -4.441 5.909 Investment income 11.698 Dividend income 100 Depreciation -119 Provisions & Other -403 Tax -926 1.133 Net income 5.909 FY22 FY23 Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 20

  21. Slide 21: Solo & Consolidated ROAE

    Solo & Consolidated ROAE 100% 90% 80% 75,2% 70% 58,4% 60% 50% 40,8% 40% 32,3% 28,6% 30% 24,2% 23,9% 20% 21,2% 18,6% 17,4% 10% 0% 2019 2020 2021 2022 2023 ROAE ROAE-Consolidated * 12 Months Trailing Profit Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations

  22. Slide 22: Investment Portfolio

    Investment Portfolio Other 3% Deposits Bonds 29% In FY23: 29% TRY 32,0 bn Dividend from ANHYT 100 mn TRY Investment Income 12,004 bn TRY Portfolio Return ~* 64,7% Stock * ANHYT dividend excluded. 9% Funds 30% ‣TRY 27,8 bn at 30.09.2023 ‣TRY 17,5 bn at 31.12.2022 *Accrued annualized yield in p&l tabl

  23. Slide 23: Investment Portfolio Breakdown

    Investment Portfolio Breakdown Bank Deposits Bonds CPI Linked 3 - 6 Month Bonds (TL) 17% 1 - 3 Month 26% 26% TRY 9,2 bn TRY 9,2 bn Corporate Bonds (TL) 1% Sovereign Up to 1 Eurobonds Month 73% 57% Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Departme

  24. Slide 24: 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

  25. Slide 25: Thanks

    THANKS Copyright © 2022, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 25

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