Slide 1: Update on TPL
Thursday 31st March 2022 Update on TPL Asia Deep Dive – Thailand and Malaysia I 31 March 2021 I 1
Slide 2: Inflow growth driven by renewals and regular premium
Inflow growth driven by renewals and regular premium In EUR mio, @100% Renewal Premium New Business Regular Premium New Business Single Premium 8.5% CAGR 20,479 19,080 19,461 1,106 1,049 1,254 16,502 3,761 15,541 3,210 751 4,196 13,611 2,631 4,101 3,230 3,985 3,050 14,998 15,611 13,836 11,649 8,925
Slide 3: Focus shifting from pure growth to profitable new business
Focus shifting from pure growth to profitable new business New Business Value In EUR mio, @Ageas Stake 372 370 303 276 234 243 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 3
Slide 4: Underlying IFRS result good proxy for operational performance
Underlying IFRS result good proxy for operational performance In EUR mio, @Ageas Stake Local Net Result IFRS Net Result Underlying result 432 420 414 370 328 310 269 206 215 196 203 182 179 152 160 146 104 82 2016 2017 2018 2019 2020 2021 ROE 16% 19% 18% 29% 24% 16% Dividend 61 62 53 100 141 Upstrea
Slide 5: Residual margin representing future profit potential gradually increasing
Residual margin representing future profit potential gradually increasing In EUR mio 26,238 19% CAGR 21,370 19,237 16,476 13,034 6,533 5,321 4,790 4,103 3,246 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 @100% Ageas @100% Ageas @100% Ageas @100% Ageas @100% Ageas stake stake stake stake stake A
Slide 6: Solvency available capital
Solvency available capital In EUR mio, @100% 26% CAGR 29,848 Required capital 25,201 Available capital 22,613 17,111 32% CAGR 14,012 14,318 11,872 11,819 9,950 7,644 5,697 4,730 2016 2017 2018 2019 2020 2021 Comprehensive 251% 246% 224% 227% 213% 208% local Solvency Asia Deep Dive – Thailand and Mal
Slide 7: TPL valuation frameworks
TPL valuation frameworks In EUR mio, @Ageas Stake C-ROSS AC CAGR IFRS NET EQUITY CAS NET EQUITY CAGR EMBEDDED VALUE 21% CAGR 21% CAGR 17% 32% 7,432 6,794 2,434 6,275 1,928 1,963 5,259 5,631 1,998 4,719 1,570 1,669 4,261 3,780 3,489 3,118 1,035 1,004 1,080 794 2017 2018 2019 2020 2021 2017 2018 2019