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

Thai Reinsurance Public — FY2020 Earnings Presentation

14 slides from Thai Reinsurance Public's earnings presentation, Apr 5, 2021

  1. Slide 1: Thai Re Group FY2020 Results and Outlooks

    Thai Re Group FY2020 Results and Outlooks

  2. Slide 2: FY2020 Key takeaways

    FY2020 Key takeaways • NWP grew up 13%yoy above our guideline • Underwriting business turned to profitable with the combined ratio of 98.9% (exclude 9 projects, combine of 96.1%) • ROI at 5.2% above our guideline • Average ROE 6.1% above our guideline • Strong balance sheet with CAR ~ 424% • Fitch a

  3. Slide 3: Snapshots

    Snapshots System wide (THBm) Q4/19 Q3/20 Q4/20 QoQ YoY 12M19 12M20 YoY Gross written premium 947 1,027 991 -4% 5% 4,455 4,329 -3% Net written premium 857 932 978 5% 14% 3,498 3,944 13% Net earned premium 899 968 1,009 4% 12% 3,609 3,750 4% U/W profit (loss) -79 49 26 -47% 133% -225 54 124% Net inves

  4. Slide 4: Underwriting results

    Underwriting results System-wide (excl. 9 projects) Items (THBm) Q4/19 Q3/20 Q4/20 QoQ YoY 12M19 12M20 YoY GPW 918 982 981 -0% 7% 3,714 4,186 13% NPW 853 925 923 -0% 8% 3,386 3,869 14% NEP 864 960 1,003 4% 16% 3,421 3,703 8% Combined ratio 103.3% 94.8% 93.1% -1.7pp. -10.2pp. 98.7% 96.1% -2.6pp.

  5. Slide 5: Underwriting results

    Underwriting results Conventional Items (THBm) Q4/19 Q3/20 Q4/20 QoQ YoY 12M19 12M20 YoY GPW 467 415 491 18% 5% 1,853 1,928 4% NPW 404 359 434 21% 7% 1,540 1,615 5% NEP 406 396 418 6% 3% 1,614 1,562 -3% Combined ratio 110.7% 99.4% 96.3% -3.1pp. +14.4pp. 100.7% 99.1% -1.6pp.

  6. Slide 6: Underwriting results

    Underwriting results Non-conventional (excl. 9 projects) Items (THBm) Q4/19 Q3/20 Q4/20 QoQ YoY 12M19 12M20 YoY GPW 451 567 490 -14% 9% 1,861 2,258 21% NPW 449 566 489 -14% 9% 1,847 2,254 22% NEP 458 564 585 4% 28% 1,807 2,140 18% Combined ratio 96.8% 91.5% 90.8% -0.7pp. -6.0pp. 96.8% 94.0% -2.8pp.

  7. Slide 7: Business breakdown by NPW

    Business breakdown by NPW 12M19 12M20 44% Conventional 41% 3% 9-projects 2% 53% Non-conventional 57% 8% Property 7% 2% Marine &cargo 1% 25% Motor 25% 55% PA&H 60% 10% Others 7%

  8. Slide 8: Investment performance

    Investment performance Investment assets ROI THB 4,196m 3.7% Common stock, 24% 12M20 Bank deposits, 15% 5.2% 6.4% 12M19 Unit trusts, 15% T-bills & T-bonds, 39% 6.5% Report Excl. TFRS 9 impact Debentures & loans, 6%

  9. Slide 9: 2021 Investment Theme

    2021 Investment Theme • Lower retrocession expense • Hard Market, more favorable terms and conditions to us • Post-pandemic; boom in health insurance • Diversify investment portfolio to foreign market • Expanding to ASEAN market • Service income from AI project • Launch blockchain-based projects

  10. Slide 10: Q&A

    Q&A

  11. Slide 11: Appendix

    Appendix

  12. Slide 12: Quarterly income (Conso)

    Quarterly income (Conso) Q4/19 Q3/20 Q4/20 QoQ YoY 12M19 12M20 YoY Gross premium written 947 1,027 991 -4% 5% 4,455 4,329 -3% Net premium written 857 932 978 5% 14% 3,498 3,944 13% Net earned premium 899 968 1,009 4% 12% 3,609 3,750 4% Net claims 544 446 472 6% -13% 1,977 1,836 -7% Net commission ex

  13. Slide 13: Contact us

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

  14. Slide 14: 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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