Ageas Sa/nv · EURONEXT:AGS
Ageas Sa/nv — Investor Day (March 2022)
17 slides from Ageas Sa/nv's investor day presentation, Mar 31, 2022
Slide 1: Asia Deep Dive – Malaysia, 31 March 2022
Thursday 31st March 2022 Malaysia Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 1
Slide 2: Malaysia and Singapore
Malaysia and Singapore BOARD REPRESENTATION Antonio Cano (Ageas MD Europe) Non-Independent Non-Executive Director (Vice Chairman) Gary Lee Crist (Ageas CEO Asia) Non-Independent Non-Executive Director Ageas Asia MCo represented at Etiqa’s subsidiaries board MANAGEMENT PARTICIPATION Luisa Evaristo Ma
Slide 3: Partnership Overview – Malaysia
Partnership Overview – Malaysia Partnership with Maybank, Malaysia's largest financial services group and the leading banking group in South-East Asia with 22 million customers 31% in Maybank Ageas Holdings #4 Life insurer in new business (12% market share) #1 Non-Life insurer (15% market share) Fir
Slide 4: Malaysia & Singapore - Inflows
Malaysia & Singapore - Inflows In EUR mio, @100%* Malaysia - Life Malaysia - Non-life Singapore - Life Singapore - Non-life 2,212 2,207 44 49 756 1,638 877 38 1,424 250 37 1,227 213 1,162 32 32 158 94 645 622 598 524 474 543 729 693 757 651 493 562 2016 2017 2018 2019 2020 2021 Note: *Includes Takaf
Slide 5: Malaysia & Singapore – Life technical liabilities
Malaysia & Singapore – Life technical liabilities In EUR mio, @100%* 6,638 5,853 5,236 4,132 4,349 3,935 2016 2017 2018 2019 2020 2021 Note: *Includes Takaful and Conventional Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 5
Slide 6: Malaysia & Singapore - Life Premiums
Malaysia & Singapore - Life Premiums In EUR mio, @100%* Renewal Premium New Business Regular Premium 1,570 New Business Single Premium 1,512 974 865 979 863 721 425 363 587 250 175 180 150 152 120 125 111 446 473 380 403 296 345 2016 2017 2018 2019 2020 2021 Note: *Includes Takaful and Conventional
Slide 7: Malaysia - Life products
Malaysia - Life products TOTAL LIFE PRODUCTS TOTAL LIFE MARKET POSITION INCLUDING TAKAFUL AND CONVENTIONAL INCLUDING TAKAFUL AND CONVENTIONAL 6% 32% 20.0% 31% 15.5% ETIQA 12.7% 12.2% 7.9% 6.8% Life risk Par savings Non-par savings 6% AIA Great Prudential Etiqa Syarikat Sun Life Unit Linked 25% Easte
Slide 8: Malaysia - Life distribution
Malaysia - Life distribution NEW BUSINESS BREAKDOWN BY DISTRIBUTION CHANNELS INCLUDING TAKAFUL AND CONVENTIONAL 37% 40% Banca ETIQA MARKET Non-Banca 60% 63% Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 8
Slide 9: Singapore - Life products
Singapore - Life products LIFE INFLOWS BY PRODUCTS MARKET POSITION Traditional Life Participating Products 27.1% 19.7% 30% 15.9% 12.6% ETIQA 7.5% 4.2% 2.2% 2.1% 2.0% 1.8% 70% Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 9
Slide 10: Singapore - Life distribution channels
Singapore - Life distribution channels LIFE INFLOWS BY DISTRIBUTION CHANNELS Banca Banca Broker Agent IFA IFA 3% 3% Direct - Online Direct - Online Other 37% 32% 29% 48% ETIQA MARKET 12% 33% 3% Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 10
Slide 11: Malaysia - Non-Life products
Malaysia - Non-Life products TOTAL NON-LIFE MARKET POSITION INCLUDING TAKAFUL AND CONVENTIONAL NON-LIFE INFLOWS BY PRODUCTS Non-life - 14.7% Takaful Non-life - 11.0% Conventional 7.4% 6.9% 6.8% 6.7% Etiqa Allianz Zurich Ins. & AmGeneral HL-MSIG Lonpac 46% Tak Insurance ETIQA 54% NON-LIFE TAKAFUL MAR
Slide 12: Malaysia - Non-Life products and channels
Malaysia - Non-Life products and channels NET WRITTEN PREMIUM BY PRODUCTS INCLUDING TAKAFUL AND CONVENTIONAL 1% 3% 11% 3% 14% 7% 15% 12% Personal Accident Fire ETIQA Motor MARKET MAT MISC 73% 62% 83.4% COMBINED RATIO GWP BY CHANNELS INCLUDING TAKAFUL AND CONVENTIONAL (FY 2021) 2% 7% 5% 13% 36% Agent
Slide 13: Challenges and opportunities
Challenges and opportunities Digitalization ● Leader in Digital insurance in Malaysia & Singapore Growth drivers: hyper-personalization in Malaysia and speed & innovation in Singapore Increased sustainability awareness ● Ambitious roadmap around 4 axis: Internal & social /Supplier mapping / Underwri
Slide 14: Alignement with Impact24 - Malaysia
Alignement with Impact24 - Malaysia Ambition Be the largest Asean owned insurance/takaful company by 2025 No. 1 Digital Insurer Growth Bring core to full potential and pursue increase in participation and acceleration of protection engines EXPAND TO UNLOCK FULL BUILD AND ADJACENT POTENTIAL EXPAND LE
Slide 15: Alignement with Impact24 - Singapore
Alignement with Impact24 - Singapore To continue to drive sustainable growth via more diversified product offering leveraging on digital Ambition capabilities and partnerships Top 5 Life Insurer; Top 10 General Insurer; No. 1 Digital Insurer in Singapore Growth Bring core to full potential and pursu
Slide 16: Malaysia - Local and IFRS net result
Malaysia - Local and IFRS net result In EUR mio, @Ageas stake IFRS Net Result Local Net Result 55 53 49 47 45 46 44 45 45 41 43 40 2016 2017 2018 2019 2020 2021 ROE 12% 14% 12% 11% 10% 12% Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 16
Slide 17: Stable and solid dividend contribution
Stable and solid dividend contribution In EUR mio, @Ageas stake Local Net Result Dividend Upstream 47 45 46 45 41 16 16 17 16 16 2016 2017 2018 2019 2020 Payout 41% 34% 36% 36% 36% ratio Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 17