Sjova-almennar Tryggingar Hf · OMXICE:SJOVA
Sjova-almennar Tryggingar Hf — Q1 2019 Earnings Presentation
18 slides from Sjova-almennar Tryggingar Hf's earnings presentation, May 16, 2019
Slide 1: Quarterly results Q1 2019
Quarterly results Q1 2019 Translation of Investors‘ Presentation 16 May 2019
Slide 2: Results highlights Q1 2019
Results Profit of Technical results of Pre-tax profit from investment operations of ISK 1.053 million ISK 411 million ISK 769 million Combined ratio Combined ratio of Negative run-off Combined ratio in motor 98,1% compared to increases the combined insurance decreases 97,2% in Q1 2018 ratio by 3,4%p
Slide 3: Highlights from Q1 2019
Highlights from Q1 2019 Investment results exceed expectations Segment performance before tax Q1 2019 Q1 2018 1.053 749 Q1 2019 Q1 2018 Profit for the period 1.180 Earnings per share 0,76 0,53 769 818 Pre-tax profit 1.180 818 411 396 422 Technical results 411 396 Profit on investment operations 769
Slide 4: Income statement
Income statement Robust premium growth Q1 2019 Q1 2018 % Premiums earned 4.798 4.251 12,9% Bridge analysis Q1 2018 to Q1 2019 Earned premiums, net of reinsurance 4.563 4.039 13,0% Investment income 1.158 793 46,1% Claims incurred -3.554 -3.044 16,8% Claims incurred, net of reinsurance -3.474 -2.998
Slide 5: Income statement
Income statement Negative run-off increases the combined ratio Q1 2019 Q1 2018 % Change in combined ratio Premiums earned 4.798 4.251 12,9% Q1 2018 to Q1 2019 Earned premiums, net of reinsurance 4.563 4.039 13,0% Investment income 1.158 793 46,1% Claims incurred -3.554 -3.044 16,8% 0,7% Claims incur
Slide 6: Balance sheet
Balance sheet Minor changes in connection with the implementation of IFRS 16 31.3.2019 31.12.2018 Assets Liabilities Assets Securities 32.903 31.349 478 481 788 Accounts receivables 8.914 5.416 2.622 2.438 Lease liability Investments where the investment is borne Lease asset 4.286 4.286 3.891 4.286
Slide 7: Changes in basic own funds and solvency capital requirements
Changes in basic own funds and solvency capital requirments Q1 2019 Basic own funds Solvency capital requirements 5 1.053 100 653 464 390 158 1.223 14.498 14.093 63 10.169 9.014 31.12.2018 Arður Hagnaður Annað 31.3.2019 31.12.2018 Insurance risk Market risk Counterparty Operational risk Diversificat
Slide 8: Investment performance in Q1 2019
Investment performance in Q1 2019 Return on the investment portfolio was 3,5% Asset class* 31.12.2018 Net change Income 31.03.2019 Return › The average duration of the Group‘s bond portfolio was Liquid funds 1.788 -883 18 923 1,2% 4,3 years at the end of the quarter (3,0 at the end of Q4 Govt. guara
Slide 9: Changes to asset portfolio in Q1 2019
Changes to asset portfolio in Q1 2019 Portfolio share of government bonds declines following sale of a portion of Land 05 1 Largest portfolio changes in Q1 2019 Portfolio breakdown* ISLA CBI 24 7% Unlisted equities Arion CBI 26 7% Ríkisbréf 21.03.2033 27% Listed equities RIKB 20 26% Landsbréf Veltub
Slide 10: Group investment assets exceeding ISK 500 million
Group investment assets exceeding ISK 500 million Assets 31.3.2019 31.12.2018 Net change Return % of portfolio Land 05 1 3.869 5.970 -2.165 64 11,8% Marel 2.347 1.550 61 735 7,1% RIKB 31 1.072 0 1.045 27 3,3% RIKB 20 942 1.361 -439 19 2,9% RIKS 26 854 844 -17 27 2,6% Stefnir ríkisverðbréfasjóður 815
Slide 11: Technical results
Technical results Positive technical results over the last twelve quarters 708 499 480 406 396 396 411 250 274 216 176 123 136 55 47 -48 -487 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 Amounts are in ISK million 11
Slide 12: Digital strategy, share buyback and updated guidance
Results Profit of Technical results of Pre-tax profit from investment operations of ISK 1.053 million ISK 411 million ISK 769 million Digital strategy The implementation of a Delivers ever increasing Further new features are digital strategy is sales of life insurance and in the works which will acc
Slide 13: Appendices and Disclaimer
SJOVA Appendices and Disclaimer
Slide 14: Combined ratio by insurance segment
Combined ratio Q1 2019 and Q1 2018 by insurance segment 114,9% 113,9% 112,9% 111,8% 109,3% 105,9% 105,0% 105,8% 105,9% 103,3% 98,1% 97,2% 98,1% 91,5% 81,3% 80,8% 75,6% 71,1% 58,7% 56,8% 44,5% 33,8% Property insurance Marine, aircraft and Mandatory vehicle Other vehicle General liability Accident and
Slide 15: Development of key indicators over preceding quarters
Development of key indicators over preceding quarters Premiums earned Combined ratio 4.294 4.211 4.251 4.462 4.767 4.684 4.798 3.849 4.029 103,6% 105,3% 100,3% 99,6% 98,1% 94,6% 97,2% 96,5% 91,2% Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 24,0% 21,8% 23,3% 22,1% 21,9% 21,2% 21,0% 19,1% 18,3% 3,0%
Slide 16: Development of key indicators
Development of key indicators Q1 2017 - Q1 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018 Q1 2018 Q4 2017 Q3 2017 Q2 2017 Q1 2017 Premiums earned 4.798 4.684 4.767 4.462 4.251 4.211 4.294 4.029 3.849 Premiums earned, net of reinsurance 4.563 4.431 4.535 4.213 4.039 3.997 4.058 3.815 3.669 Investment income 1.
Slide 17: Distribution of shareholders
Distribution of shareholders 961 shareholders as of 12 May 2019 Shareholders Total shareholdings 100% 96% 2% 5% 86% 3% Pension funds 13% 66% Individuals and corporations 47% Foreign funds Domestic funds Financial undertakings Own shares 29% 14% 1 10 20 50 961 Number of shareholders 17
Slide 18: Disclaimer
Disclaimer › Although every effort is made to ensure accuracy, in the case of any inconsistencies between the Icelandic and English versions of the company's announcement of results, please note that it is the Icelandic original which is authentic and valid and all English announcements and presenta
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