Wuestenrot & Wuerttembergische Ag · XETR:WUW
Wuestenrot & Wuerttembergische — Wüstenrot & Württembergische — Deutsches Eigenkapitalforum 2022
27 slides from Wuestenrot & Wuerttembergische's conference presentation, November 2022
Slide 1: Deutsches Eigenkapitalforum 2022
Wüstenrot & Württembergische AG Deutsches Eigenkapitalforum 2022 28. – 30. November 2022
Slide 2: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 2
Slide 3: Where we come from – 200 years of experience in financial topics
W&W – Overview & Strategy Where we come from – 200 years of experience in financial topics 1828 Württembergische 1921 Wüstenrot 1999 Merger of 2005 2010 Acquisition 2017 Introducing 2018 online Privat-Feuer- (Gemeinschaft der Wüstenrot und Acquisition of of Allianz new digital brand platform Versich
Slide 4: W&W Group structure
W&W – Overview & Strategy W&W Group structure Shareholder Structure W&W AG in % Service and Central Functions Freefloat ~23,55 Wüstenrot W&W Asset Management GmbH Holding AG Asset Management Others 39,91 Wüstenrot & Württembergische AG > 10,00 W&W Informatik GmbH IT WS Holding AG 26,40 Wüstenrot Fou
Slide 5: Leading banking and insurance group in Germany
W&W – Overview & Strategy Leading banking and insurance group in Germany #2 # 12 # 10 “Bausparen” Life Insurance Property and Casualty Insurance ∼6.5mn >6,000 ∼6,300 Customers Sales agents Employees W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 5
Slide 6: Excellent client base with growth potential
W&W – Overview & Strategy Excellent client base with growth potential Multiple contracts per customer ∼6.5mn High client retention (low churn rate) Customers1 Solvent customer base Increasing digital affinity Note: 1) As of September, 30 2022. W&W AG | Deutsches Eigenkapitalforum | November
Slide 7: Our strong sales force is broadly positioned to capture further growth
W&W – Overview & Strategy Our strong sales force is broadly positioned to capture further growth Own sales channels Partnerships and cooperations Banks Insurance Financial sales Brokers Others companies networks 10,000 brokers W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 7
Slide 8: Diversified banking & insurance business with strong earnings and solid balance sheet
W&W – Overview & Strategy Diversified banking & insurance business with strong earnings and solid balance sheet Consolidated balance sheet 31 Dec 2020 31 Dec 2021 (IFRS) in €bn in €bn Other/Consolidation: 14,9% Total assets 76.5 75.2 Property Housing: 14,8% Capital investments 51.3 48.8 & Casualty:
Slide 9: A conservative high quality investment portfolio
W&W – Overview & Strategy A conservative high quality investment portfolio1 5% 6% Fixed Income 9% 1% Real Estate Alternative Assets 40% 12% 8% 9% 11% 3% 3% 13% €33.8bn Cash Equities DE/AT BeNeLux FR DK/FI/NO US/CA/AU GB/IE IT/ES Other 2 79% 4% ~90% of included fixed income instruments carry an IG-ra
Slide 10: W&W Group's sustainability goals in a nutshell
W&W – Overview & Strategy W&W Group’s sustainability goals in a nutshell Implementation of "green" product features and components in all business areas Increased consideration of social and environmental considerations into the investment strategy, ongoing reduction of the capital investments’ carb
Slide 11: Agenda
Agenda W&W – Overview & Strategy Group and Segment Development Q3 2022 Outlook Appendix W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 11
Slide 12: Key developments in the third quarter of 2022
Group and Segment Development Q3 2022 Key developments in the third quarter of 2022 In the first nine months of 2022, the W&W Group was able to continue the successful course of the previous years in the operative business and gain market share, although the economic environment continues to be burd
Slide 13: W&W Group: Successful operative business continued
Group and Segment Development Q3 2022 W&W Group: Successful operative business continued Growth well above the market level in new business by gross home savings sum from €13.5bn to €19.1bn (+41.1%). 41.1% -3.9% 12.2% 19,106 3,737 371 Gross premiums: 3,591 331 o Property/Casualty insurance conti
Slide 14: Declining earnings as a result of the dynamic rise in interest rates
Group and Segment Development Q3 2021 Declining earnings as a result of the dynamic rise in interest rates The consolidated net income continued to be strongly influenced -108.8% by the developments on the -32.4% volatile capital markets. 1,733 237 Reduced financial result due to 2.0% negative v
Slide 15: IFRS consolidated income statement
Group and Segment Development Q3 2022 IFRS consolidated income statement Consolidated income statement Consolidated net income: Decrease 9M 2022 9M 2021 Change mainly due to lower financial result. (in €mn) Net financial income -152 1,733 -1,885 o Net measurement result: soaring Current net income
Slide 16: IFRS consolidated balance sheet
Group and Segment Development Q3 2022 IFRS consolidated balance sheet Consolidated balance sheet Balance sheet total and equity 9M 2022 9M 2021 Change down due to interest rate (in €mn) Financial assets at fair value through profit or loss 10,128 10,721 -593 developments. Financial assets at fair
Slide 17: Segment overview
Group and Segment Development Q3 2022 Segment overview Reportable segments 9M 2022 9M 2021 Change Housing segment: significantly (in €mn) above pro rata plan and above Housing segment 56.8 44.0 12.8 previous year. Life and Health Insurance segment -22.5 41.2 -63.7 Life & Health insurance segment
Slide 18: Housing segment
Group and Segment Development Q3 2022 Housing segment 60.6% 13,827 29.1% 7.5% 57 5,348 The segment result increased 4,976 significantly compared to the 44 previous year. Market shares in 8,609 mortgage lending and home loan savings could be expanded again. Construction financing was also higher
Slide 19: Life and health insurance segment
Group and Segment Development Q3 2022 Life and health insurance segment -14.3% -153.9% 1,891 -38.1% 41 212 715 1,621 Negative valuation effects from 222 investments weighed on the 75 segment result. Decrease in total premiums in 442 Life insurance, mainly due to the 69 1,679 targeted reduction i
Slide 20: Property/ casualty insurance segment
Group and Segment Development Q3 2022 Property/ casualty insurance segment 6.8% -3.5% 1,970 -0.8% 290 280 1,845 Segment result almost at previous 134 133 year's level. Underwriting result 66 547 remains very positive (gross 75 459 combined ratio: 84.4%). 65 New business down slightly 55 608 587
Slide 21: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 21
Slide 22: Outlook Fiscal Year 2022
Outlook Outlook Fiscal Year 2022 Current environmental conditions are prompting highly volatile measurement gains and losses in the W&W Group’s IFRS income statement. Nonetheless, we stick to our net profit forecast. However, this guidance is subject to high levels of uncertainty, stemming primarily
Slide 23: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 23
Slide 24: Key figures show stability and resilience of W&W Group's business
Appendix Key figures show stability and resilience of W&W Group’s business Key figures last years 2016 2017 2018 2019 2020 2021 In €mn Gross premiums written 3,988.8 3,873.4 4,065.4 4,319.7 4,491.0 4,718.5 Construction financing 5,388.5 5,517.5 6,280.2 6,347.7 6,748.8 7,459.7 P&C combined ratio (gro
Slide 25: Selected figures for financial years 2020 / 2021
Appendix Selected figures for financial years 2020 / 2021 Key P&L and Balance Sheet figures 2020 2021 change In €mn Gross premiums written1 in €mn 4,491.0 4,718.5 5.1% o/w L&H insurance in €mn 2,445.7 2,543.0 4.0% o/w P&C insurance in €mn 2,054.7 2,192.0 6.7% Construction financing in €mn 6,748.8 7,
Slide 26: Be sure to keep in touch with us
IR contact Be sure to keep in touch with us For further information, please 24 Nov 2022 contact Michael Ellwanger 28.-30. Head of Investor Relations Nov. 2022 +49 711 662 725252 ir@ww-ag.com 31 March 2023 Please visit our IR website: W&W AG | Deutsches Eigenkapitalforum | November 2022 Page 26
Slide 27: This presentation and the information contained in it
This presentation and the information contained in it, as well as all other documents and explanatory notes (collectively, the “Material”), are issued by Wüstenrot & Württembergische AG ("W&W"). This presentation contains certain forward-looking statements and forecasts that reflect the current view
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