Clal Insurance Enterprises Holdings Limited · TASE:CLIS
Clal Insurance Enterprises — FY2014 Earnings Presentation
22 slides from Clal Insurance Enterprises's earnings presentation, March 2015
Slide 1: Financial statements for 2014
Clal Insurance Enterprises Holdings Ltd Financial statements for 2014 Analysts review March 2015 Financial statements as at 31.12.2014
Slide 2: Disclaimer
Disclaimer This presentation includes partial information only regarding the company’s results for 2014 and it was prepared as an abstract for convenience only. The presentation cannot replace the review of reports published by the company to the public, which include the complete information about
Slide 3: Total comprehensive income after tax to shareholders
Total comprehensive income after tax to shareholders (NIS in millions) 2013 2014 Impact of Clal Finance losses (approx. NIS 27 mil.) included 17.9% Inclusive of: Excluding impact of Clal Finance 583 impact of low interest rate environment (approx. NIS 192 17.1% mil.), class actions (approx. NIS 26 m
Slide 4: Composition of comprehensive income
Composition of comprehensive income (NIS in millions) 2013 2014 Impact of low interest rate environment 956 (NIS 309 mil. before tax) and class actions (NIS 42 mil. before tax), total impact net of tax: approx. NIS 218 mil. 594 296 152 18 Total comprehensive income (54) Income from investments* Othe
Slide 5: Comprehensive Profit before tax from insurance activities by sector
Comprehensive Profit before tax from insurance activities by sector (NIS in millions) 2013 2014 450 Mainly due to the impact of low interest rate environment (NIS 268 million) 88 78 29 48 49 Life insurance Provident funds Pensions Including the impact of low interest rate environment (NIS 41 mil.),
Slide 6: Long term savings – management fees
Long term savings – management fees (NIS in millions) 2013 2014 Annual nominal yield 12.43% 5.88% 342 356 304 223 Life insurance – fixed Life insurance – variable management fees management fees 255 257 245 218 Pensions Provident funds 6
Slide 7: Gross Earned Premiums
Gross Earned Premiums (NIS in millions) 2013 2014 Decrease derives mainly from group’s policy, not accepting factor guaranteed policies (transferable until the end of 2013), lower one- time deposits and from proactive cancellation of policies with over 9,289 due premiums. 9,029 4,875 4,722 Total gro
Slide 8: Contribution fees
Contribution fees (NIS in millions) 2013 2014 5,977 5,381 4,624 4,130 1,251 1,353 Total contribution fees Pensions* Provident *Includes 100% of contribution for Atudot (old pension fund) 8
Slide 9: Managed assets by portfolio
Managed assets by portfolio )NIS in Billion) 2013 2014 160.1 148.6 47.0 51.5 29.3 30.2 Total managed assets Yield linked assets Nostro (Insurance and investment contracts) 36.1 42.3 36.2 36.1 Pensions Provident 9
Slide 10: Yields in Fellow portfolios
Yields in Fellow portfolios (as of December 2014) Sharpe 2014 שנת 2014 שנים 3 3 Years שנים 5 5 YEARS Index 1.07% 1.04% 41.64% 41.25% 32.28% 33.38% 5.88% 5.54% קרן יJ Fund חדשה קרן יJ New Fund 1.47% 0.89% 45.33% 33.07% 36.34% 30.22% 6.47% 4.68% מקיפה New פנסיהFund Pension קרן תמר
Slide 11: Clal insurance – composition of capital
Clal insurance – composition of capital (NIS in million) 2013 2012 2014 2013 2014 Rate from total recognized capital 6,660 5,953 5,376 40% 37% 38% 4,147 3,766 3,226 2,187 2,513 2,150 Total Recognized Capital Tier 1 Capital Recognized Tier 2 Capital Rate from required capital 2.0% 4,529 4,504 4,594 1
Slide 12: Clal holdings – capital requirements and capital surplus
Clal holdings – capital requirements and capital surplus )NIS in million( 2013 2012 2014 201320142014 יעד 4,267 3,898 3,414 Total Capital Rate from required capital 21% 35% 48% 2.0% )0.2%( 2,829 2,885 2,879 1,387 1,013 585 Required Capital* Capital Surplus *In accordance with the control permissio
Slide 13: Main financial debt (bonds and bank loans), as of year end
Main financial debt (bonds and bank loans), as of year end (NIS in million) 2012 2013 2014 4,115 3,425 3,083 2,853 2,853 2,500 2,434 2,500 2,434 Clal Insurance - Bonds Clal Holdings - consolidated Clal Holdings - Solo 705 241 85 293 251 93 82 Discontinued Insurance Clal Credit and Finance Clal Finan
Slide 14: Main financial expenses
Main financial expenses )NIS in million( 2012 2013 2014 change in CPI (known) 1.4% 1.9% )0.1%( 261 240 177 150 162 129 47 26 17 Clal Holdings - consolidated Clal Insurance - Bonds Clal Insurance - Bonds Including one time expense of approx. NIS 20 mil. in respect of early redemption of bonds to publ
Slide 15: General and administrative expenses
General and administrative expenses )NIS in million) 2013 2012 2014 2013 2014 1,724 1,579 1,442 1,413 1,457 1,442 Total savings of NIS 433 million since 2012 311 122 - Total G&A G&A of ongoing activity G&A of terminated activity 15
Slide 16: P&C insurance – gross premiums by sector
P&C insurance – gross premiums by sector )NIS in million( 2013 2014 Decrease derives mainly from the 2,827 2,663 improvement of customer portfolio, by Including collective means of non-renewal of losing insurance optimization businesses, such as group policies . and increasing individual portfolio.
Slide 17: P&C insurance – comprehensive profit before tax by sector
P&C insurance – comprehensive profit before tax by sector )NIS in million) Derives mainly from improvement in 2013 2014 underwriting profitability due to portfolio optimization and increase in individual Better claims record, offseted by 323 businesses, instead of vehicle fleets and increase in liab
Slide 18: P&C insurance – Combined Ratio
P&C insurance – Combined Ratio* )January-December) 2013 2012 2014 2013 2014 The company’s policy, of optimizing customer portfolio and adopting an underwriting profit strategy instead of market-share, has shown its results 109% 105% 104% 106% 95% 102% 100% 93% 81% Total P&C Compulsory Motor Motor Ca
Slide 19: Health insurance – Gross premiums by sector
Health insurance – Gross premiums by sector )NIS in million( 2013 2014 Including improvement of collective portfolios by offsetting the increase in individual businesses and the effect of halting the sale of insurance for foreign workers 1,612 1,601 Including improvement of customers’ portfolio by m
Slide 20: Health – Comprehensive profit before tax by sector
Health – Comprehensive profit before tax by sector )NIS in million( 2013 2014 Including an increase of NIS 14 mil. in 153 Including release of provision for insurance liabilities based on parameters continuity of approx. NIS 22 mil. received from re-insurers and an 115 additional NIS 14 mil. from pr
Slide 21: CEO summary
CEO summary “Clal insurance continues to implement the business strategy that was determined two years ago, together with an ongoing improvement in underwriting profitability in a period of very low interest rates and uncertainty in capital markets. The company is growing in the sectors which it def
Slide 22: Thank you
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