Thai Reinsurance Public Co., Ltd. · SET:THRE

Thai Reinsurance Public — Q4 2019 Earnings Presentation

19 slides from Thai Reinsurance Public's earnings presentation, Mar 24, 2020

  1. Slide 1: Q4/19 Results & Year 2020 Outlooks

    Q4/19 Results & Year 2020 Outlooks

  2. Slide 2: Snapshots

    Snapshots System wide (THBm) Q4/18 Q3/19 Q4/19 QoQ YoY 12M18 12M19 YoY Gross written premium 1,489 942 947 1% -36% 4,849 4,455 -8% Net written premium 981 794 857 8% -13% 3,483 3,498 0% Net earned premium 856 895 899 0% 5% 3,359 3,609 7% U/W profit (loss) -165 -23 -81 -252% 50% -467 -234 50% Net inv

  3. Slide 3: 9 Projects premium development

    9 Projects premium development Gross Premium Written Net Premium Written Earned Premium 2,259 2,202 2,115 1,998 1,997 1,784 1,981 2,011 1,635 1,911 1,390 1,419 1,421 741 291 254 236 188 179 496 164 34 281 245 52 170 209 111 77 20097 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020E Unit:THBm 2

  4. Slide 4: Underwriting results

    Underwriting results System-wide (excl. 9 projects) Items (THBm) Q4/18 Q4/19 YoY 12M18 12M19 YoY GPW 947 918 -3% 3,459 3,714 +7% NPW 899 853 -5% 3,274 3,386 +3% NEP 801 864 +8% 3,124 3,421 +10% Combined ratio 102.7% 103.3% +0.6pp. 96.2% 98.7% +2.5pp.

  5. Slide 5: Underwriting results

    Underwriting results Conventional Items (THBm) Q4/18 Q4/19 YoY 12M18 12M19 YoY GPW 512 467 -9% 1,963 1,853 -6% NPW 470 404 -14% 1,801 1,540 -14% NEP 407 406 -0% 1,651 1,614 -2% Combined ratio 107.9% 111.2% +3.3pp. 97.9% 101.1% +3.2pp.

  6. Slide 6: Underwriting results

    Underwriting results Non-conventional (excl. 9 projects) Items (THBm) Q4/18 Q4/19 YoY 12M18 12M19 YoY GPW 435 451 +4% 1,497 1,861 +24% NPW 429 449 +5% 1,473 1,847 +25% NEP 394 458 +16% 1,473 1,807 +23% Combined ratio 97.3% 96.3% +1.0pp. 94.4% 96.5% +2.1pp.

  7. Slide 7: Business breakdown by NPW

    Business breakdown by NPW 12M18 12M19 52% Conventional 44% 48% Non-conventional 56% 10% Property 11% 2% Marine &cargo 2% 31% Motor 25% 50% PA&H 55% 7% Others 7%

  8. Slide 8: Investment performance

    Investment performance ROI Investment assets THB 4,252m Bank deposits, 6.4% 26% 12M19 Common stock, 25% 6.5% -4.2% T-bills & 12M18 T-bonds, 4.2% 12% Unit Debentur trusts, Report es & 27% loans, Excl trading securities & status changed 9%

  9. Slide 9: Strategies and Actions during COVID-19 crisis

    Strategies and Actions during COVID-19 crisis

  10. Slide 10: Our actions during this crisis

    Our actions during this crisis Prepare for the worst, together with working for new business opportunities in new environment.

  11. Slide 11: Managing opportunities and risks

    Managing opportunities and risks Risks Opportunities Higher losses from COVID-19 Lower losses from others types of insurance Economic slow down More demand on Health insurance (decease in purchasing power, lower (new products, new group of demand for insurance, fraud, etc.) consumer, more room for p

  12. Slide 12: To minimize the risks

    To minimize the risks • BCP has been fully implemented • More discipline in both UW and investments • Expenses are being monitor closely and reviewing

  13. Slide 13: To grab and adapt the opportunities

    To grab and adapt the opportunities • Keep exploring for new products • Keep close with our clients • Adapt new technology • Higher yield from investment instruments

  14. Slide 14: FY2020 highlights

    FY2020 highlights • Lower retrocession expense • Opportunities for local business due to less competitions • Leveraging technology and expanding our service scope to accelerate the growth of 15-20% in next 3 years • “A-” (Strong); The outlook is stable by Fitch • Under stress test our CAR above 270%

  15. Slide 15: Q&A

    Q&A

  16. Slide 16: Appendix

    Appendix

  17. Slide 17: Financial Highlight

    Financial Highlight Quarterly income statement Q4/18 Q3/19 Q4/19 QoQ YoY 12M18 12M19 YoY Gross written premium 1,489 942 947 1% -36% 4,849 4,455 -8% Net written premium 981 794 857 8% -13% 3,483 3,498 0% Net earned premium 856 895 899 0% 5% 3,359 3,609 7% Net claims 570 468 544 16% -5% 1,842 1,977 7

  18. Slide 18: Contact us

    Contact us Mr. Bheerawas Bhunakh, IR • (66)2-660-6111 #1429 • ir@thaire.co.th • http://investor.thaire.co.th/home.html

  19. Slide 19: Disclaimer

    Disclaimer The information contained in this presentation is intended solely for your personal reference. Please do not circulate this material. If you are not an intended recipient, you must not read, disclose, copy, retain, distribute or take any action in reliance upon it. Some statements made in

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