Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Investor Presentation (2024)
28 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's investor presentation, Jun 11, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION 31.03.2024 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Company & Market Potential_____ 3 Company Overview_____________ 10 Financial Highlights _____________ 22 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 2
Slide 3: Company & Market Potential
Company & Market Potential Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 3
Slide 4: Sector Data
Sector Data Premium Production (₺ Bn) 2024 M3 (bn TRY) 110% 429,23 Life 21,50 11% 133% Number of Companies 29% Non Life 49 204,15 Life 19 Non-Life- 177,70 Reinsurance 4 87,6 89% 68,1 56,69 Total 72 30,86 14,4 17,7 12.20 12.21 12.22 12.23 Non-Life Life Non-Life Life Copyright © 2021, Anadolu Sigorta.
Slide 5: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 5.028 Premium / GDP Premium Per Person 2022 (%) ($) USA 7,98 5.604 UK 3,92 1.952 2.394 Switzerland 6,82 5.181 1033 868 Poland 0,85 320 611 690 326 386 515 503 OECD 4,55 2.230 116 117 119 144 171 140 132 146 133 116 Turkey 1,23 144 2014 2015 2
Slide 6: 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 23Q1 24Q1 Türkiye Türkiye 12.175 28.163 131,3 16% Other Allianz 10.578 20.091 89,9 29% Anadolu 9.147 16.462 80,0 8.077 14.227 76,1 Allianz Axa 11% Bupa 5.128 9.898 93,0 Top 5
Slide 7: Penetration Ratios
Penetration Ratios EARTHQUAKE INSURANCE HEALTH INSURANCE • ~20million houses • 85,4million Population • 56,6%of houses are insured • 14%of population has health insurance TRAFFIC INSURANCE MOD INSURANCE • 28,9million vehicles • 28,9million vehicles • 80%of vehicles are insured • 35%of vehicles are i
Slide 8: Highlights – Anadolu
Highlights – Anadolu Core Business • MOD claims ratio maintains 60% level (FY23 – 60%) • 24Q1 Claims Ratio: 69,5% • Strong growth in health branch. Focused on corporate health policies MTPL • MTPL growth 35% in 2024Q1 • Discount rate 35% in 2024Q1 Assets Under Management • AUM reached to ₺36,4bn (ad
Slide 9: Premium Production
Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 23Q1 24Q1 ΔYoY (%) 23Q1 24Q1 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 1.905 2.581 35,5 22.132 40.986 85,2 MOD 2.305 3.394 47,2 16.590 25.508 53,8 Fire and Nat. D. 1.532 3.406 122,3 13.067 32.098 145,6 Health 1.460 3.365 130,6
Slide 10: Company Overview
Company Overview Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 10
Slide 11: History
History • Founded by Mustafa Kemal Atatürk in 1925 • First national insurance company • Main activity: Non-life insurance (until 1991, both life and non-life) • group company Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 11
Slide 12: Distribution Channels – FY23
Distribution Channels – FY23 10 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Konya Antalya Gaziantep Adana 1 Sales Office N. Cyprus 2.922 Professional Agencies 1.074 Isbank Branches ~17% working exclusively with Anadolu Working exclusively with Anadolu Copyrig
Slide 13: Distribution Channels
Distribution Channels Premium Production – ANSGR Premium Production – Sector 18.000 200.000 Milyonlar 180.000 16.000 -3 -2 10% 14% 160.000 14.000 18% 140.000 17% +7 +2 12.000 120.000 16% 14% 10.000 +3 100.000 13% 8.000 16% 11% 80.000 15% 6.000 13% 60.000 14% -7 56% 55% 4.000 40.000 63% 55% 2.000 20.
Slide 14: Market Share & Rank
Market Share & Rank Rank Market Share Market Share Market Share BRANCHES 24Q1 23Q1 24Q1 Change Watercraft 1 24,18% 26,14% 2,0 MOD 1 13,90% 13,30% -0,6 Aircraft 2 37,07% 13,01% -24,1 Aircratf Liability 2 56,32% 11,94% -44,4 Marine Transportation 2 12,15% 12,54% 0,4 Fire 3 11,73% 10,61% -1,1 Health 3
Slide 15: Profitability – Combined Ratio
Profitability – Combined Ratio Combined Ratio (%) 23Q1 24Q1 Claims Ratio (%) 23Q1 24Q1 MOD 77,2 86,2 MOD 54,2 60,4 MTPL 228,0 103,3 MTPL 198,7 74,9 Fire 95,2 109,6 Fire 61,9 59,1 Health 114,0 135,8 Health 88,1 102,9 Accident 71,2 78,4 Accident 15,6 11,3 General Losses 87,9 98,0 General Losses 59,3 7
Slide 16: Company Profile
Company Profile ISO 9001 ISO 10002 Sustainability Quality Management Customer Satisfaction Sustainability Report System Certification Management System 2022 is published and Certification certified by GRI Standards Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor
Slide 17: Sustainability
Sustainability ➢ Natural Gas Consumption have decreased 20,3% compared to 2018, ➢ Total Paper Consumption have decreased 77,4% compared to 2018. One aspect of our approach to combating climate change is minimizing the effects of our company activities. Copyright © 2021, Anadolu Sigorta. All rights r
Slide 18: Company Ratings
Company Ratings Fitch Fitch Insurer Financial National Insurer Financial SAHA Corporate Strength Strength Governance Rating Rating: BB- Rating: AA+(tur) 9,59/ 10 Outlook: Positive Outlook: Stable Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Departmen
Slide 19: Shareholder Structure – 2024
Shareholder Structure – 2024 Milli Reasürans Türk Anonim Şirketi 286.550.106 57,31% Trakya Yatırım Holding A.Ş. 35.014.061 7,00% Other 178.435.833 35,69% Total 500.000.000 100,0% IPO rate: ~48% Mcap (31.03.2024) : ₺34,20 Bn Free float: ~35% Capital (31.03.2024) : ₺500 Mn Copyright © 2021, Anadolu Si
Slide 20: Financial Highlights
Financial Highlights Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 20
Slide 21: Growth Performance
Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) 68.903 58.368 39.229 35.982 30.706 18,0% 20.438 9,0% 16.776 10.779 12.076 7.774 2020 2021 2022 2023 24Q1 2020 2021 2022 2023 24Q1 Assets Under Management (mn TRY) (*) Shareholders' Equity (mn TRY) 17.250 36.471 32.026 14.204 17.536
Slide 22: Balance Sheet (₺ mn)
Balance Sheet (₺ mn) Change Change Assets 03.23 03.24 Liabilities 03.23 03.24 (%) (%) Cash + Marketable Sec. 21.746 41.587 91,2 Technical Provisions 24.176 39.229 62,3 Equity Participations 1.371 3.708 170,5 Shareholders' Equity 5.204 17.250 231,4 Other Assets 12.051 23.608 95,9 Other Liabilities 5.
Slide 23: Solo & Consolidated ROAE
Solo & Consolidated ROAE 100% 89,3% 90% 80% 75,2% 72,8% 70% 58,4% 60% 50% 40,8% 40% 32,3% 28,6% 30% 24,2% 23,9% 21,2% 18,6% 17,4% 20% 10% 0% 2019 2020 2021 2022 2023 2024Q1 * 12 Months Trailing Profit ROAE ROAE-Consolidated Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and
Slide 24: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 23Q1 24Q1 Change (%) P&L 23Q1 24Q1 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 4.515 9.120 102 4.515 9.120 102 Tech. Expenses -5.657 -9.151 62 -5.657 -9.151 62 Net Financial Inc. + Other Exp. (**) 707 3.651 416 686 3.651 432 Gross Profit -435 3.620 -932 -456 3.620
Slide 25: Investment Portfolio
Investment Portfolio Other 2% Deposits 22% Bonds 29% In 24Q1: TRY 36,4 bn Dividend from ANHYT 200 mn TRY Investment Income 3.635,6 bn TRY Stock 7% Portfolio Return ~* 45,1% Funds * ANHYT dividend excluded. 44% ‣TRY 18,6 bn at 31.03.2023 ‣TRY 32,0 bn at 31.12.2023 *Accrued annualized yield in p&l tab
Slide 26: Investment Portfolio Breakdown
Investment Portfolio Breakdown Bank Deposits Bonds 3 - 6 Month 2% CPI Linked Bonds (TL) 28% 1 - 3 Month 35% TRY 9,2 bn TRY 8,1 bn Corporate Bonds (TL) Sovereign 2% Eurobonds Up to 1 Month 70% 63% Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Departmen
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 © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 28