Aksigorta AS · BIST:AKGRT
Aksigorta AS — Investor Presentation (2010)
20 slides from Aksigorta AS's investor presentation, 2010
Slide 1: Investor Presentation: The Major Player of the Market
Investor Presentation “The Major Player of the Market” Investor Meeting, 2010 Meclis-i Mebusan Cad. 67 34427 Findikli/Istanbul/TURKEY Tel : (+90212) 393 43 00 Fax : (+90212) 243 08 61 www.aksigorta.com.tr
Slide 2: Agenda
Performance Strategic Plan AKSigorta
Slide 3: Development in Turkish Economy
Development in Turkish Economy GNP (billion $) 735 Reel Growth in GDP 618 5.9% 1.5% 1997-2001 2002-2008 2009 197 -4.7% 2001 2008 2009 CPI 71,6% Per Capita ($) 10,436 8,590 3,020 13,3% 6,5% 2001 2008 2009 1995-2001 2002-2008 2009 Source: Turkstat, Treasury 3
Slide 4: Low Penetration Level in Turkey
Low Penetration Level in Turkey Indicators show that the non-life insurance sector has huge growth potential in Turkey Turkey is 17th in GDP rankings, but 28th in non-life premium rankings YE09 4.5% Premiums as a % of GDP 3.6% 3.0% 3.1% 2.5% 2.2% 1.9% 1.5% 1.5% 1.4% 1.4% 1.1% 1.0% 0.5% World Nor
Slide 5: Non-Life Insurance Growth Potential in Turkey
Non-Life Insurance Growth Potential in Turkey TL 10 billion premium production in 2009 CAGR 14% Premium Production in Non-life 10,067 9,250 9,820 8,015 5,264 6,348 2004 2005 2006 2007 2008 2009 (TL million) Source: Association of the Insurance and Reinsurance Companies of Turkey and Aksigorta 5
Slide 6: Insurance Companies in Turkey
Insurance Companies in Turkey Source: Association of the Insurance and Reinsurance Companies of Turkey 6
Slide 7: Competition in Non Life Business
Competition in Non Life Business 13.2% 13.0% 13.2% 12.9% 12.7% 12.6% 12.7% 12.4% Axa 12.0% 12.2% Anadolu 11.8% 11.8% 10.0% 9.7% Allianz 9.6% 9.3% 9.2% 9.2% 8.5% 8.3% 8.6% 8.5% Aksigorta 8.7% 8.5% 7.9% 7.5% 7.6% Güneş 8.1% 8.1% 7.2% 7.1% Groupama 6.9% 7.2% 7.2% 7.0% 6.4% 2004 2005 2006 2007 2008 2009
Slide 8: Competition in Non Life Business
Competition in Non Life Business 12.3% 12.7% 12.6% 12.7% 12.8% 13.1% Axa 12.1% 11.2% 12.1% 11.9% 12.3% 11.8% Anadolu 10.3% 10.0% 9.6% 9.5% 9.4% 9.1% Allianz 8.3% 8.7% 8.8% 8.9% 8.6% 7.9% Aksigorta 7.6% 7.1% 7.0% 7.2% 6.5% 6.2% Yapı Kredi 7.4% 6.6% 6.4% 6.0% 6.0% Güneş 5.3% 2005/9 2006/9 2007/9 2008/
Slide 9: Further Expectations for Non Life Business
Further Expectations for Non Life Business 9
Slide 10: Sabancı Group in Insurance & Pension Business
Sabancı Group in Insurance & Pension Business Partnership Structures (After Spin-off) Non-Life (2009) Life (2009) Premiums : TL 851 million Premiums : TL 155 million Market Share : 8.5 % Market Share : 9% Market Rank : 4th Company Market Rank : 4th Company Total Equity : TL 2,669 million (after spin
Slide 11: Major Player in Non-Life Business
Major Player in Non-Life Business CAGR 15% Sector CAGR 14 % ( TL Million) Source: Aksigorta 11
Slide 12: Multi-Line Company Multi-Channel Company
Multi-Line Company Multi-Channel Company Motor Own Damage : 31.0% 866 bank 1,445 TPL: 16.6% branches agencies (Akbank: 100% exclusive) Source: Aksigorta 12
Slide 13: Profitability / Combined Ratio
Profitability / Combined Ratio **113% 108% 108% 103% *101% 102% 103% 100% 107% 100% 92% 100% 98% Aksigorta Non-Life Sector 2005 2006 2007 2008 2009 2010/6 (*) Except additional TPL reserves : 95% (**) Except additional new reserves due to legislation : 100% Source: Association of the Insurance and R
Slide 14: 2010 – 2012 Targets
The Scene 7 Performance « 7 Strategic Plan 14 EE 2010 - 2012 Targets In 2012, combined ratio 2% lower than sector average 2012 Being the sector leader in Customer satisfaction over the sector average Configuration of human resources managementto create the organizational climate a More benefit by Ak
Slide 15: Appendix: Financial Overview
15 Financial Overview > AKSigorta
Slide 16: Summary of The Balance Sheet
Summary of The Balance Sheet (TRY Million) 2008 YE 2009 YE* 2009 9M 2010 9M Cash and Cash Equivalents 341 416 372 375 Marketable Securities (Financial Assets and 1,116 211 1,781 123 Investments with Risks on Policy Holders)* Receivables Arising from Operations 236 230 261 360 Participations (Financi
Slide 17: Summary of The Income Statement
Summary of The Income Statement (TRY Million) 2008 YE* 2009 YE 2009 9M 2010 9M Premiums Written 829 851 645 660 Premiums Written (Net) 488 548 411 474 Earned Premiums (Net) 432 542 407 440 Total Claims (Net) -388 -448 -320 -350 Total Technical Profit 4 17 42 -10 Net Invesment Income 51 18 6 7 Profit
Slide 18: Key Ratios
Key Ratios 2008 YE* 2009 YE 2009 9M 2010 9M Retention Ratio 59% 64% 64% 72% Claims Ratio (Net) 89% 83% 79% 80% Expense Ratio (Net) 14% 10% 9% 12% Commission Ratio (Net) 10% 13% 13% 16% Combined Ratio(Net) 113% 107% 101% 108% Net Income / GWP 6% 4% 0% -5% ROE 3% 1% 3% -1% (*) Except additional new re
Slide 19: Foreign Companies and Latest Transactions
Foreign Companies and Latest Transactions Market Market Trans. Com pany Foreign Local Equity Share Share Ent. / Trans. Trans. Value Value Company Company Share (YE08) (YE09) Date % (Mio. €) (Mio. €) Axa Axa Sigorta (Axa-Oyak) 100% 12.6% 12.5% 1994 / 2M08 35% 240 690 Allianz Allianz Sigorta (Koç-Alli
Slide 20: The information and opinions contained in this document have been compiled or arrived at
The information and opinions contained in this document have been compiled or arrived at by Aksigorta A.Ş from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. All opinions and estim