Ageas Sa/nv · EURONEXT:AGS
Ageas Sa/nv — Investor Day (November 2023)
30 slides from Ageas Sa/nv's investor day presentation, November 2023
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Plaats uw foto uit de helpguide, kopieer hem via copy – paste en plaats hem op deze pagina All figures are presented @100%
Slide 2: On today's agenda
On today’s agenda | = & 1 Outperforming market leader ina mature Belgian insurance market 2 Strategic fundamentals 3 Actual market dynamics 4 AG growth story continues
Slide 3: Market position and concentration
#1 #1 #2 #3 #2 #3 Market Concentration Market Concentration Top-5: 60% Top-10: 81% Top-5: 64% Top-10: 88% 3 1. 2022 market shares based on top-15 Assuralia ranking (individual group) 2 IFRS4 figure
Slide 4: Premium growth versus market
• +3% +3% +4% 19,920 • + 5% 17,479 15,051 2,403 1,893 2,086 AG (2014) AG (2019) AG (2022) Market Market Market (2014) (2019) (2022) • 16,293 16,382 2,516 +5% 3,819 • 3,963 4,207 553 1,143 13,777 12,775 +10% -1% 3,410 3,064 -1% AG (2014) AG (2022) Market (2014) Market (2022) 4
Slide 5: Non-Life combined ratio, guaranteed returns and net profit
101.2% • 96.0% 96.3%* 93.4% 93.8% 90.3% • • 2014 2016 2018 2020 2021 2022 Non-Life 100% 0.97% 0.87% 0.86% 0.85% 0.89% 75% 618 0.77% 522 +2% 0.40% 0.38% 0.37% 0.41% 0.30% 0.31% AG (2014) AG (2022) 2014 2016 2018 2020 2021 2022 5 Guaranteed Unit-Linked Net Profit Dividend Pay-out ratio *Adjusted for a
Slide 6: Cost ratios versus peers
Life Cost Ratio based on Life Liabilities 2019-2022 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Non-Life Cost Ratio based on Gross Earned Premium 2019-2022 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 6 Source annual accounts BEGAAP 2022
Slide 7: On today's agenda
On today’s agenda 1 Outperforming market leader in a mature Belgian insurance market 2 ‘Strategic fundamentals Full and well-balanced product portfolio Multi-channel distribution approach embedded in our organization Consistent strategy implementation Strong capital position 3 Actual market dynamics
Slide 8: Total inflows by line and channel
• Non-Life 36% Total Inflows • 6.6 Life Bn EUR 64% Other 10% Group Life Retail - Home Life Bank 32% 35% 44% Total Total Accident Non-Life Life & Health 28% 2.3 59.5 Bn EUR Bn EUR Motor Life Retail - 30% Broker 8 21%
Slide 9: Distribution market shares by channel
20.4% 18.4% 10.5% 12.3% 6.9% 8.5% 62.1% 60.9% ● ● 2010 2012 2014 2016 2018 2020 2022 ● ● 18.2% ● ● 20.7% 35.2% 48.4% ● ● 44.1% 33.5% 2010 2012 2014 2016 2018 2020 2022 9 Source: Assuralia distribution survey 2022
Slide 10: Organizational structure and distribution synergies
» ... fully embedded in our organizational structure... 3 business lines with own distribution focus, sharing support and expertise AG’s organizational structure allows 2 levels of synergies: Employee Benefits & Health Care Channel Non-Life 5 5 Health Employee i) Benefits Vv Development Non-Life & L
Slide 11: We consistently execute our strategy
» We consistently execute our strategy ... Centered around three main choices & levers with clear ambitions we To grow& strengthen our os By offering a great + | By embedding sustainability leading position customer experience and long-term thinking Outgrow the market by unlocking the full potential
Slide 12: To grow and strengthen our leading position
# To grow & strengthen our leading position » ... with clear ambitions to further strengthen our leading position... Contribution to AG2024 growth ambitions Non-Life ; ° Continue to outgrow the market in Non-Life: 202 lbusiness pled * Reinforce broker foothold in Retail, Small Enterprise and Enterpr
Slide 13: Product range: mobility, home, health, save and invest
Mobility Health Save & Home Invest Self-employed Pension & SME 13
Slide 14: Touring acquisition
. To grow & strengthen our leading position » We successfully acquired Touring in July 2023. Touring represents an opportunity for AG to further develop the mobility offering y Strong Touring brand on the Belgian market in the mobility @ sector will increase the credibility of AG on the mobility dom
Slide 15: We have clear sustainability ambitions
» We have clear sustainability ambitions. Sustainability well embedded within AG ACT on 4 key domains with AG as: an insurer an investor offer products and services with positive impact invest in the transition to a more sustainable economy » offer a great place to grow for all » a responsible compa
Slide 16: We built future proof IT foundations
= | Tech and data » We built future proof IT foundations. Cloud based future proof IT infrastructure to further leverage AG’s digital platforms Replatforming Leverage AG data backbone ° Replatforming project successfully delivered last year, Dbl Modernization & future transformation enabling to keep
Slide 17: We stay close to our distribution partners
w Partners » We stay close to our distribution partners. Intimacy and Proximity as a core strength of AG Employee Benefits & Health Care Channel Health | Employee Care* | Benefits Leh Willis Towers Watson rintro | [Wy Naan Non-Life (Pec) @ Mercer + Embedded sales support ° 7 commercial centers , . f
Slide 18: Solvency ratio evolution
242% 224% 221% AG (2014) AG (2019) AG (2022) 18
Slide 19: On today's agenda
On today’s agenda 1 Outperforming market leader in a mature Belgian insurance market 2 Strategic fundamentals 3 Actual market dynamics AG growth story continues
Slide 20: Current market dynamics and management actions
» Current market dynamics and Management actions. 2 of the market dynamics AG is closely monitoring Continue monitoring Inverted yield curve and increased Inflation and fast of claim cost in P&C competition in Life Retail rising interest rates * 2/3 of the Non-Life inflowis +» Launch of competitive
Slide 21: On today's agenda
On today’s agenda 1 Outperforming market leader in a mature Belgian insurance market 2 Strategic fundamentals 3 Actual market dynamics 4 BG growth story continues
Slide 22: AG growth story continues
» AG growth story continues. BG vise Still many growth opportuties ahead to capture in a Belgian mature market Consistency in > Continue to be frontrunner in innovative products strategy execution : and services > Respond to changed customer needs via assessment and adopt new technologies [e.g MyAG,
Slide 23: Key takeaways
» Key takeaways. Assure profitable and above the market growth across all business lines > Accelerated profitable growth over the years in a turbulent and fast-changing environment, thanks to strong fundamentals and a consistent execution of our Strategy > Differentiating strengths of our core compo
Slide 24: Annex
Annex ¢ Belgian Insurance Market Evolution ° AG Exco ¢ CX Strategy is well on track ¢ Driven by our core values
Slide 25: Premium evolution in the Belgian insurance market
» Premium evolution in the Belgian Insurance market Total Gross Written Premium Belgian Insurance market (In EUR Mio) 32,290 29,355 30,000 27,815 25,000 20,000 15,000 10,000 5,000 10,555 10,930 11,265 it} 2011 2012 2013 25 Source: Assuralia TT 28,055 11,476 2014 27,245 11,605 2015 29,879 2azeq 29.17
Slide 26: AG Exco
45 FTEs 56 FTEs 63 FTEs 553 FTEs 223 FTEs 565 FTEs 1.649 FTEs 708 FTEs 26
Slide 27: Our CX strategy is well on track
By offering a great » Our CX Strategy is well on track... customer experience Project delivery at the benefit of customers, distribution partners and employees * Transactional NPS measured at 95% of digital customer journeys with very positive customer satisfaction observed Client Experience * Succe
Slide 28: Exploring direct customer interaction
By offeringa great » ... exploring direct customer interaction. customer expenence Strengthen the customer relationship Portfolio My AG for non-commercial customer interaction Efficiency Digitalization Existing clients looking for contract details and documents Direct, secured and easy access to inf
Slide 29: We are driven by our core values
& People » We are driven by our core values. AG is a purpose-driven organization with strong culture “We are AG” culture as a great place to grow for all * Top quartile employee NPS’ at 34% (+10% compared to LY) ¢ Attractive employer onboarding 360 new colleagues in 2023 ‘CARE ¢ Reinvent our workpla
Slide 30: Bedankt!
Bedankt! Plaats uw foto uit de helpguide, kopieer hem via copy – paste en plaats hem op deze pagina