Turkiye Sigorta A.s. · BIST:TURSG
Turkiye Sigorta A.s — Investor Presentation (November 2024)
36 slides from Turkiye Sigorta A.s's investor presentation, November 2024
Slide 1: Investor Presentation November 2024
€OTURKIYE SiIGORTA Gucti, adinda. Investor Presentation November 2024 Investor Relations, Turkiye Sigorta November 2024 |1
Slide 2: Table of Contents
| Table of Contents 01 02 03 04 05 06 GOTURKIYE SiGORTA Company Overview Key Investment Highlights Strategic Targets ESG and Sustainability Digital Path Appendix Nov
Slide 3: 01. Company Overview
€OTURKIYE SiGORTA Gucti, adinda. 01. Company Overview November 2024 |3
Slide 4: Türkiye Sigorta at a Glance
| Tirkiye Sigorta at a Glance Profitable Production Retention Ratio 46% Net Profit 4/73B Sustainable Profitability Technical Profit $9.6B #12.5B Company Overview Robust Investment Results AuM Yield 41% £50B Market Share | Combined Ratio 14.5% 98% | 65% 15% ® @& a i Y Individual Customers Bank Branch
Slide 5: Unparalleled Strengths in a Dynamic Market
| Unparalleled Strengths in a Dynamic Market Company Overview . + FTSE Large Cap, BIST Dividend 25, Dividend, Corp. Gov., Insurance, Financials, 100 TURSG: FISE Large Cap, + Leading P/E, ROE, market cap, dividend yield metrics BIST Dividend 25 . Outperforming market benchmarks + Seamless integration
Slide 6: History
| History Company Overview Turkiye Sigorta was founded in 2020 with the merger of three state-owned insurance companies with strong insurance sector expertise and heritage building up since 1957. i €@TURKIYE SiGORTA — “omn (HALKSIGORTA %} Ziraat Sigorta September 2020 #1 Market Leader @ 1957 @ 1958
Slide 7: Shareholding Structure
| Shareholding Structure Foreigner 30.1 69.9 Shareholders Share Amount (mn TL) Share (%) Tiirkiye Wealth Fund 4,055 81.10 Publicly Traded 945 18.90 TOTAL 5,000 100 *MKK Central Securities Depository of Tiirkiye, as of 06/06/2024 URKIYE SiGORTA Company Overview _» TURSG: 2nd company that attracted mo
Slide 8: Share Performance and Dividend History
| Share Performance and Dividend History Company Overview TURSG vs BIST 100 250 | | TURSG oo | 51% 150 Soe 100 | | BIST 100 ' 18% 50; Oe2s Oct-24 Superior Capital Return _ Sustainable Dividend Distribution Year Dividend Dividend Per ttt USD-based Return Last 1-year Yield Share (TL) (Mn TL) 2024 1.5%
Slide 9: Board of Directors
| Board of Directors Cr Ee 60 Em GoGo COTURKIYE SiIGORTA Member Aziz Murat Ulug Taha Cakmak Muhammet Mahmud Er Bilal Bedir Ayse Turkmenoglu Prof. Murat Akbalik Prof. Enver Alper Girel Duty Chairman (Non-Executive) Vice Chairman and CEO (Executive) Board Member (Non-Executive) Board Member (Non-Execu
Slide 10: Senior Management
Senior Management Company Overview Melike Nur Ginar EVP - Actuary «17 years experience in insurance ¢agn Akpinar EVP - Technic = 17 years experience in insurance Dr. Dogan Basar EVP - HR, Strategy * 17 years experience * Former General Manager of HR at CBRT Sebnem Ulusoy Chief Legal Counsellor " 30
Slide 11: 02. Key Investments Highlights
€OTURKIYE SiIGORTA Gucti, adinda. 02. Key Investments Highlights
Slide 12: Underpenetrated Market with High Growth Potential
Underpenetrated Market with High Growth Potential Key Investment Highlights Turkish insurance sector is underpenetrated and holds significant growth potential compared to its peers. Low penetration but robust financial stance in non-life sector 1 Growth potential in selected underpenetrated branches
Slide 13: 75.5 52.0 49.4 48.6 44.0 21.0 12.0
75.5 52.0 49.4 48.6 44.0 21.0 12.0
Slide 14: Ongoing Improvement in the Recent Risk Outlook
| Ongoing Improvement in the Recent Risk Outlook Improvement in the CDS Premiums 770 507 385 278 253 Aug-22 Dec-22 Jul23 Dec-23 19/09/24 Increase in the Credit Ratings Company Ratings RecentA Overview _Date Fitch BB. t Stable SepyemPer Moody's BI t Positive uy. S&P BB. t Stable Nov 2024 IRKiYE SiGOR
Slide 15: 3Q24 in a Nutshell
| 3Q24 in a Nutshell GWP Production (¢ million) Key Investment Highlights Technical Profit (¢ million) AA% i ' 3,200 2.354 1.226 72,580 1.405 asi 419.277 12495 2; i i -1,883 7,988 387 General Losses Accident MOD Other General Losses Accident MOD Other 6M24 F&ND MTPL Health 9M24 6M24 F&ND MTPL Health
Slide 16: Market Leader With Growing Market Share
| Market Leader With Growing Market Share Key Investment Highlights Following the merger, Turkiye Sigorta has become the industry leader and has successfully maintained its position in recent years. Health = Non-motor = Motor Gross Written Premium thillion Ak HDI Sompo Ray Bupa Quick Neova Eureko Ma
Slide 17: Well Diversified Portfolio Ensuring Sustainable Market Leadership
| Well Diversified Portfolio Ensuring Sustainable Market Leadership ey Investment Highlights . * Total Premium Market Loss Sector . . . . . AYoY Share Ratio Renny * Higher premium productions in main branches ensure our market leader TOTAL 72.580 88% 14% 77% © 7 position. General Losses 18.982 115%
Slide 18: Unique Distribution Model
| Unique Distribution Model & 9M24 9.3% 58.3% mBank 9m24 17.3% 27.8% 11.7% Broker Strong Distribution Channels IRKiYE SiGORTA. Direct No commission/brokerage fees under this channel ensures cost effectiveness. Mega transactions are insured via corporate sales. Channel Breakdown (%) Agency = Extensiv
Slide 19: Technical Profitability: Cultivating Sustainable Growth
| Technical Profitability: Cultivating Sustainable Growth Key Investment Highlights Solid technical profitability Outperformance in returns Technical Profit by Main Branches (€ million, cumulative) Sector vs Tiirkiye Sigorta ROE (%) 580 12,495 3,746 904 mar — 3880 57.4 56.4 as a L| -4,636 1 2 i 7 2,
Slide 20: Underwriting: Balancing Caution and Profitability
| Underwriting: Balancing Caution and Profitability Key Investment Highlights General Losses F&ND MTPL MOD Health Accident i om23 Mi om24 146 149 94 76 77 70 56 51 a) a ee ma 39 40 12.12 13.16 14°14 Comission See [lhl eee Ratio (%) -20 -25 Expense 10 10 1213 1613 6 8B 8 10 18 6 6 7 Ratio (%) — —_— 2
Slide 21: Asset Under Management and Investment Performance
| Asset Under Management and Investment Performance Key Investment Highlights AuM and Total Investment Income (@ million) BAUM @ Investment Income 49,669 44,807 38,128 31,278 24,957 16,500 9,705 2,309 o 434 7,832 as 459 a 3,732 a || 6M23 9m23 2023 3M24 624 9m24 9m23 2023 3M24 6M24 9m24 AuM Yield* 45
Slide 22: Sustainable Profitability
| Sustainable Profitability Key Investment Highlights Net Profit t milli . million " Focus on sustainable profitability through effective claims and expense management with agile portfolio maneuvers 5,102 3,527 1,153 1,058 941 ; 2020 2021 2022 9M23 2023 3M24 6M24 9M24 KIYE SiGORTA
Slide 23: 03. Strategic Targets
€OTURKIYE SiIGORTA Gucti, adinda. 03. Strategic Targets November 2024 |23
Slide 24: Strategy
| Strategy Strategic Targets Maintaining sector leadership Robust financial stance and sustainable profitability Sustainable and balanced growth in market share Being market maker x F&ND: pioneering role in MOD and Health in ") cP q tll in commercial policies Efficient claims Wa Increase in reinsura
Slide 25: 04. ESG & Sustainability
€OTURKIYE SiIGORTA Gucti, adinda. 04. ESG & Sustainability November 2024 |25
Slide 26: Shaping a Sustainable Future
| Shaping a Sustainable Future ESG and Sustainability Our future plan is to lead the way in sustainable innovation by investing in renewable technologies, enhancing eco-friendly insurance practices, and fostering partnerships that drive positive impact. Governanc Environment i Corporate Governance R
Slide 27: 05. Digital Path
€OTURKIYE SiIGORTA Gucti, adinda. 05. Digital Path November 2024 |27
Slide 28: Vision for an Autonomous, AI-Driven Insurance Company
| Vision for an Autonomous, Al-Driven Insurance Company Digital Path Smart applications supported by artificial intelligence with an autonomous insurance company vision, strong digital channels with an omnichannel approach, and sustainability with a secure, scalable and robust infrastructure Sek 1.
Slide 29: 06. Appendix
€OTURKIYE SiIGORTA Gucti, adinda. 06. Appendix November 2024 |29
Slide 30: Income Statement
| Income Statement Summary P% Technical Income Earned Premiums Written Premiums Gross Written Premiums Premiums Transferred to the Reinsurer Unearned Premiums Provision Invest. Inc. From Non-Technical Division Other Technical Expenses Incurred Losses Claims Paid Gross Claims Paid Reinsurer’s Share o
Slide 31: Balance Sheet & Key Ratios
| Balance Sheet & Key Ratios Appendix 06 Summary Balance Sheet (@ million) 2021 2022 2023 9M23 9M24 Yoy| Cash and Cash Equivalents 6,104 9,034 31,547 25,072 24,525 -2% Banks 5,315 6,904 27,744 22,130 20,219 -9% Receivables from Main Operations 3,377 4,536 11,330 9,119 18,445 102% Financial Assets an
Slide 32: Appendix: Premium Production
| Appendix Appendix 06 | Quarterly GWP Production (million*) Cumulative GWP Production (million) Premium Production 3023 4023 1024 2024 3024 9M23 2023 3M24 6M24 9M24 General Losses 2,395 5,673 8,276 7,046 | 3,660 -48% 53% 8,822 14,495 8,276 15,322 | 18,982) 24% 115% F&ND 3,836 3,601. 7,301 6,351 | 6
Slide 33: Appendix: Technical Profit
| Appendix Appendix 06 | Quarterly Technical Profit (million *) Cumulative Technical Profit (million®) Technical Profit 3023 4023 1024 2024 3024 9M23 2023 3M24 6M24 9M24 General Losses 189 154 725 925 387. -58% +=105% 789 943 725 1,649 2,086 = 23% +=—«158% F&ND 1,175 803 1,441 2,160 | 2,385 | 10% 10
Slide 34: Appendix: Loss, Expense and Combined Ratios
| Appendix Appendix 06 | Total 76.0% 82.4% | 76.6% 10.3% 11.9% | 9.6% 11.9% 13.8% | 11.6% 98.2% 108.2% 97.9% Net Loss Ratio Net Expense Ratio Net Commission Ratio : Net Combined Ratio ' (Cumulative) (Cumulative) (Cumulative) H (Cumulative) ' : : 9M23 2023S 9M24 9M23 2023S 9M24 9m23 2023. « «924 I 9M
Slide 35: Disclaimer
| Disclaimer This presentation is prepared by Tiirkiye Sigorta AS, based on general ideas and it is subject to change without notice. It is based on information obtained from sources that The Company believes to be reliable, but The Company does not guarantee the authenticity and completeness of inf
Slide 36: Sizin Eee Kiymetinizi billiyoruz omelanmia
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