Linea Directa Aseguradora Sa · BME:LDA
Linea Directa Aseguradora Sa — Q1 2024 Earnings Presentation
26 slides from Linea Directa Aseguradora Sa's earnings presentation, Mar 29, 2024
Slide 1: Other relevant information: Q1 2024 results presentation
Línea Directa Aseguradora, S.A., Compañía de Seguros y Reaseguros (the “Company”), pursuant to legislation regulating the securities market, announces the following: OTHER RELEVANT INFORMATION Please find attached the Company’s first quarter 2024 results presentation for analysts and investors, whic
Slide 2: March 2024 Results
March 2024 Results IFRS17&9 Presentation for analysts and investors 29 April 2024
Slide 3: 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 4: Index
Index 01. Highlights for the period 02. March 2024 Results 03. Q&A 04. Annex Presentation for analysts and investors 3
Slide 5: Highlights for the period
Highlights for the period <7" linea directa
Slide 6: Highlights for the period
01. Highlights for the period IFRS17&9 € Gross written premiums Segments – Net Insurance Income 1 Profitability and efficiency €251.4 m COMBINED RATIO +3.0% vs. 1Q 2023 97.3% -9.5 p.p. vs. 1Q ‘23 -1.2 p.p. vs. 4Q ‘23 +3.1% +4.5% +7.9% INCOME INCOME INCOME IFRS 17 IFRS 17 IFRS 17 EXPENSE RATIO 2 Robu
Slide 7: March 2024 Results
March 2024 Results <7" linea directa
Slide 8: March 2024 Results
02. March 2024 Results IFRS17&9 Thousand euro 3M 2024 3M 2023 % var. Insurance revenues up 3.4%, with Gross written premiums (GWP) 251,419 244,209 3.0% all business lines making strong Ordinary insurance activities income 1 242,618 234,570 3.4% contributions Technical insurance result, net of rein
Slide 9: Premiums and policyholders
02. Premiums and policyholders Premiums and policyholders by business line Premiums Policyholders €251.4 m 3,316 thousand Gross Written Premiums Policyholders Thousand euro 3M 2024 3M 2023 % var. Thousands 3M 2024 3M 2023 % var. Motor 195,771 191,526 2.2% Motor 2,459 2,604 -5.6% Home 39,270 37,607 4
Slide 10: Motor Segment
02. Motor Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 +3.1% (10.3) p.p. +2.2% Thousand euro Change of trend with a steady improvement in the combined In the quarter, individualised adjustments were made to the ratio most aggravated risks in the portion of
Slide 11: Home Segment
02. Home Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 (4.9) p.p. +4.4% +4.5% Thousand euro Robust growth in revenue prioritising profitability We are committed to innovation in our products, with the The technical result was affected by several fire claim
Slide 12: Health Segment
02. Health Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 (13.4) p.p. +8.7% +7.9% Thousand euro Excellent performance of marketing investment with greater efficiency in generating demand with the integration of the We are accelerating our growth under the Lin
Slide 13: Loss ratio
02. Loss ratio IFRS17&9 Thousand euro 3M 2024 3M 2023 % var. CONSOLIDATED Motor Insurance income, net of Considerable improvement 236,370 228,664 3.4% reinsurance [A] The loss ratio improves compared to the previous year and significantly, led by the Motor gradual progress compared to Q4 Claims for
Slide 14: Expense ratio
02. Expense ratio IFRS17&9 Acquisition expenses Administration expenses Thousand euro 3M 2024 3M 2023 % var. Our customer-centric vision is The trend in administration Insurance income, net of reinsurance enabling greater commercial expenses remains excellent, 236,370 228,664 3.4% [A] efficiency, es
Slide 15: Financial result
02. Financial result IFRS17&9 Thousand euro 3M 2024 3M 2023 % var. Income 8,361 6,322 32.3% Higher income from the fixed income portfolio and swap, Interest on b ank deposits 449 150 199.3% and interest earned on bank deposits Interest on fixed income securities 5,072 3,669 38.2% Income on equity in
Slide 16: 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 3M 2024 3M 2023 % var. Movements registered in OCI 1,229 9,124 -86.5% MTM fixed income and equity instruments 1,072 8,018 -86.6% Realised gains (losses) in
Slide 17: Solvency II
02. Solvency II The solvency margin remains very solid and stands at 183% Solvency margin Solvency own funds walk 12M 2023 – 3M 2024 180% 183% Provision of Motor premiums and, to a lesser extent, Home and Health Solvency ratio and eligible own funds refer to Línea Directa Aseguradora stand-alone 16
Slide 18: Solvency II: breakdown of capital required
02. Solvency II Breakdown of capital required Highlights Thousand euro 3M 2024 12M 2023 Increases due to (i) the symmetric adjustment SCR of the quarter (provided by EIOPA) and (ii) MARKET SCR Market 99,594 91,493 greater exposure to equities SCR Counterparty 6,470 6,076 SCR Health 3,462 3,499 SCR
Slide 19: Q&A
Q&A <7" linea directa
Slide 20: Annex
Nalats,4 <7" linea directa
Slide 21: Income statement by segment
04. Income statement by segment IFRS17&9 Income statement – Motor Segment Income statement – Home Segment Thousand euro 3M 2024 3M 2023 % var. Thousand euro 3M 2024 3M 2023 % var. Gross written premiums 195,771 191,526 2.2% Gross written premiums 39,270 37,607 4.4% Income from ordinary insurance act
Slide 22: Income statement by segment
04. Income statement by segment IFRS17&9 Income statement – Health Segment Income statement – Other Insurance Businesses1 Thousand euro 3M 2024 3M 2023 % var. Thousand euro 3M 2024 3M 2023 % var. Gross written premiums 15,579 14,335 8.7% Gross written premiums 799 741 7.8% Income from ordinary insur
Slide 23: Consolidated balance sheet
04. Consolidated balance sheet IFRS17&9 Assets Liabilities and Equity Thousand euro Thousand euro ASSETS 3M 2024 12M 2023 % var. LIABILITIES AND EQUITY 3M 2024 12M 2023 % var. Cash and cash equivalents 64,435 41,746 54.4% Financial liabilities at amortised cost 66,258 65,313 1.4% Financial assets at
Slide 24: Management ratios
04. Management ratios IFRS17&9 and IFRS4 Loss Ratio Expense Ratio Combined Ratio IFRS 17 3M 2024 3M 2023 p.p. var. 3M 2024 3M 2023 p.p. var. 3M 2024 3M 2023 p.p. var. Motor 75.9% 85.8% -9.9 p.p 20.6% 21.0% -0.4 p.p 96.5% 106.8% -10.3 p.p Home 69.1% 74.9% -5.8 p.p 27.5% 26.6% 0.9 p.p 96.6% 101.5% -4.
Slide 25: Combined ratio – comparison and brief description
04. Combined ratio – comparison and brief description IFRS17&9 vs. IFRS 4 Loss ratio COMBINED RATIO 3M 2024 IFRS 4 IFRS 17 The undiscounted loss ratio (the effect of the discount is recorded in Premiums earned, net of reinsurance 236,348 OCI, 1.1 million at March 2024, –(0.7) million at March 2023
Slide 26: Thank you
Thank you 29 April 2024
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