Linea Directa Aseguradora Sa · BME:LDA
Linea Directa Aseguradora Sa — Q3 2024 Earnings Presentation
25 slides from Linea Directa Aseguradora Sa's earnings presentation, Oct 31, 2024
Slide 1: September 2024 Results
September 2024 Results IFRS17&9 Presentation for analysts and investors 21 October 2024
Slide 2: Legal notice
Legal notice This document has been prepared by Línea Directa Aseguradora, S.A., Compañía de Seguros y Reaseguros (“Línea Directa” or the “Company”) for the sole purpose of presenting results and may not be used for any other purpose. The statements contained in this document relating to forecasts,
Slide 3: Index
Index 01. Highlights for the period 02. September 2024 Results 03. Q&A 04. Annex Presentation for analysts and investors 3
Slide 4: Highlights for the period
Highlights for the period <7" linea directa
Slide 5: Highlights for the period
01. Highlights for the period IFRS17&9 GWP | 9M ‘24 Segments – Net Insurance Income 1 Profitability and efficiency €757.6M COMBINED RATIO | 9M ‘24 +3.5% vs. 9M 2023 95.4% 95.4% in 3Q ‘24 +2.4% +4.6% +8.7% -10.6 p.p. vs. 9M ‘23 INCOME INCOME INCOME IFRS17 IFRS17 IFRS17 Net income | 9M ‘24 EXPENSE RAT
Slide 6: September 2024 Results
September 2024 Results <7" linea directa
Slide 7: September 2024 Results
02. September 2024 Results IFRS17&9 Thousand euro 9M 2024 9M 2023 % var. 3Q 2024 Gross written premiums (GWP) 757,629 731,945 3.5% 253,729 Ordinary insurance activities income 1 736,772 716,227 2.9% 250,165 Gross written premiums grow by 5.7% in the quarter Technical insurance result, net of reins
Slide 8: Premiums and policyholders
02. Premiums and policyholders Premiums and policyholders by business line Premiums Policyholders €757.6M 3,377 thousand Gross Written Premiums Policyholders Thousand euro 9M 2024 9M 2023 % var. Thousand 9M 2024 9M 2023 % var. Motor 612,488 595,239 2.9% Motor 2,484 2,512 -1.1% Home 117,011 111,604 4
Slide 9: Motor Segment
02. Motor Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 +2.9% +2.4% (11.1) p.p Thousand euro In the quarter, the portfolio grew by more than 19,800 The combined ratio continues to improve in the third quarter, policyholders, accelerating its growth trend ref
Slide 10: Home Segment
02. Home Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 (7.0) p.p +4.8% +4.6% Thousand euro As with Motor, the third quarter has shown growth of more than 2,900 policyholders Claims experience remains at excellent levels (-6.8 p.p. 3Q Premiums grew by 5.7%
Slide 11: Health Segment
02. Health Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 +10.0% +8.7% (16.9) p.p Thousand euro Positive growth in revenue and premiums year-to-date Premiums grew by 12.9% in the quarter standalone Combined ratio continues to improve quarter-on-quarter comp
Slide 12: Loss ratio
02. Loss ratio IFRS17&9 Thousand euro 9M 2024 9M 2023 % var. 3Q 2024 Motor Insurance income, net of 718,696 698,654 2.9% 244,177 Motor maintains its positive trend, with controlled frequency reinsurance [A] and average costs Motor 594,069 580,101 2.4% 201,556 Home 110,642 105,756 4.6% 37,782 Health
Slide 13: Expense ratio
02. Expense ratio IFRS17&9 Acquisition Administration Thousand euro 9M 2024 9M 2023 % var. 3Q 2024 Acquisition costs remain Excellent evolution of under continuous control Insurance income, net of reinsurance administrative expenses 718,696 698,654 2.9% 244,177 [A] The Health segment shows significa
Slide 14: Financial result
02. Financial result IFRS17&9 Thousand euro 9M 2024 9M 2023 % var. Greater income in the fixed-income portfolio and to a lower extent, income from the swap and interest on bank deposits Income 26,444 20,435 29.4% Interest on b ank deposits 1,415 1,085 30.4% Interest on fixed income securities 16,540
Slide 15: Investment portfolio, movements registered in OCI and other metrics
02. Investment portfolio, movements registered in OCI and other metrics IFRS17&9 PORTFOLIO COMPOSITION MOVEMENTS REGISTERED IN OCI Thousand euro 9M 2024 9M 2023 % var. 2 Movements registered in OCI 14,600 4,320 238.0% MTM fixed income and equity instruments 12,130 1,718 606.2% Realised gains (losses
Slide 16: Solvency II
02. Solvency II The solvency margin remains very solid, reaching 190% Solvency margin Solvency own funds walk 6M 2024 – 9M 2024 184%1 190% Million euro 1 1. Solvency ratio and eligible own funds as of June 2024 include the first interim dividend of the year (€15 million) with payment date 1 August 2
Slide 17: Solvency II capital required breakdown
02. Solvency II Breakdown of capital required Highlights Thousand euro 9M 2024 6M 2024 Increases due to (i) greater exposure to fixed SCR Market 107,502 102,573 SCR income (spread risk) and equities, and (ii) the MARKET symmetric adjustment of the quarter (provided SCR Counterparty 5,704 6,064 by
Slide 18: Q&A
Q&A <7" linea directa
Slide 19: Annex
Nalats,4 <7" linea directa
Slide 20: Income statement by segment
04. Income statement by segment IFRS17&9 Income statement – Motor Segment Income statement – Home Segment Thousand euro 9M 2024 9M 2023 % var. Thousand euro 9M 2024 9M 2023 % var. Gross written premiums 612,488 595,239 2.9% Gross written premiums 117,011 111,604 4.8% Income from ordinary insurance a
Slide 21: Income statement by segment
04. Income statement by segment IFRS17&9 Income statement – Health Segment Income statement – Other Insurance Businesses1 Thousand euro 9M 2024 9M 2023 % var. Thousand euro 9M 2024 9M 2023 % var. Gross written premiums 26,772 24,336 10.0% Gross written premiums 1,359 767 77.0% Income from ordinary i
Slide 22: Consolidated balance sheet
04. Consolidated balance sheet IFRS17&9 Assets Liabilities and Equity Thousand euro Thousand euro ASSETS 9M 2024 12M 2023 % var. LIABILITIES AND EQUITY 9M 2024 12M 2023 % var. Cash and cash equivalents 33,160 41,746 -20.6% Financial liabilities at amortised cost 71,034 65,313 8.8% Financial assets a
Slide 23: Management ratios
04. Management ratios IFRS17&9 y IFRS4 Loss Ratio Expense Ratio Combined Ratio IFRS 17 9M 2024 9M 2023 p.p. var. 9M 2024 9M 2023 p.p. var. 9M 2024 9M 2023 p.p. var. Motor 75.5% 86.6% -11.1 p.p 20.0% 20.0% 0.0 p.p 95.5% 106.6% -11.1 p.p Home 61.4% 67.2% -5.8 p.p 28.4% 29.6% -1.2 p.p 89.8% 96.8% -7.0
Slide 24: Combined ratio – comparison and brief description
04. Combined ratio – comparison and brief description IFRS17&9 vs. IFRS4 Loss ratio COMBINED RATIO 9M 2024 IFRS 4 IFRS 17 The loss ratio does not include the discounting effect in the curve’s Premiums earned, net of reinsurance 718,880 movement, which is recorded in OCI, –(€1.0) million at Septemb
Slide 25: Thank you
Thank you 21 October 2024
Linea Directa Aseguradora — Q3 2024 Earnings Presentation on 6ix