Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Q1 2025 Earnings Presentation
25 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's earnings presentation, 2025
Slide 1: Anadolu Sigorta Investor Presentation 2025
ANADOLU SİGORTA INVESTOR PRESENTATION 2025 Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Market Overview _________________ 3 Company Overview ______________ 8 Financial Highlights _________________ 18 2 Fund Management and Investor Relations Department 2
Slide 3: Market Overview
Market Overview Fund Management and Investor Relations Department 3
Slide 4: Sector Data
Sector Data1 Insurance Market 1Q25 Premium Production (TL bn) (TL bn) 738,6 Life 37,6 12% 72% Number of Companies Non Life 50 110% 429,2 Life 20 Non-Life Reinsurance 4 266,6 133% 88% 204,2 Total 74 87,6 99,9 56,7 17,7 30,9 Non-Life Life 2021 2022 2023 2024 Non-Life Life (1) Association of Insurance
Slide 5: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 8.622 Premium Per Premium / GDP 2023 Person 244 (%) (USD) 171 USA 7,7 6.251 146 144 133 5.028 119 UK 3,8 1.840 116 116 117 Switzerland 3,8 3.810 2.394 Poland 1,5 331 868 1033 515 503 611 690 OECD 5,0 2.313 Turkey 1,5 171 2016 2017 2018 2019 2
Slide 6: Non-Life Insurance Market
Non-Life Insurance Market Premium Production1 (TL mn) 1Q24 1Q25 Y/Y(%) Non-Life - Market Shares Competitor 1 Competitor 1 28.163 41.402 47,0 15,5% Competitor 2 20.091 30.375 51,2 Other 31,5% Anadolu Sigorta 16.462 23.192 40,9 Competitor Competitor 3 14.227 20.685 45,4 2 11,4% Competitor 4 3.575 13.2
Slide 7: Penetration Ratios
Penetration Ratios1 EARTHQUAKE INSURANCE HEALTH INSURANCE • ~20 million houses • 85,6 million Population • 56,6% of houses are insured • 6% of population has health insurance TRAFFIC INSURANCE MOD INSURANCE • 31 million vehicles • 31 million vehicles • 86% of vehicles are insured • 26% of vehicles a
Slide 8: Company Overview
Company Overview Fund Management and Investor Relations Department 8
Slide 9: Pioneering Turkish Insurance for a Century
Pioneering Turkish Insurance for a Century • Established in 1925, on the 1949, Karaköy initiative of Mustafa Kemal headquarters Atatürk, founder of Turkish Republic 1956, Computer automation introduced • First national insurance company 1986, First 1987, electronical Initiation of device agricultura
Slide 10: Widespread National Network
Widespread National Network 10 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Konya Antalya Gaziantep Adana 1 Sales Office N. Cyprus 3,056 Professional Agencies 1,011 Isbank Branches ~17% working exclusively with Anadolu Working exclusively with Anadolu Fund Man
Slide 11: Ratings & Certificates
Ratings & Certificates Fitch Fitch National Insurer Financial Strength Insurer Financial Strength SAHA Corporate Governance Rating: AA+(tur) Rating: BB Rating 9,59/ 10 Outlook: Stable Outlook: Stable ISO 9001 ISO 9001 Sustainability Quality Management System Customer Satisfaction Management Sustaina
Slide 12: Shareholder Structure – 1Q25
Shareholder Structure – 1Q25 Paid-in Capital Stake Milli Reasürans Türk Anonim Şirketi 286.550.106 57,31% Trakya Yatırım Holding A.Ş. 35.014.061 7,00% Other 178.435.833 35,69% Total 500.000.000 100,0% IPO rate: ~48% Mcap (31.03.2025) : TL46,5 bn Free float: ~35% Capital (31.03.2025): TL500 mn Fund M
Slide 13: 1Q25 Highlights
1Q25 Highlights • Real growth: Anadolu 1Q25 premium volume is at a strong TL 23,2 bn, (+40,9%y/y vs. 38,1% March infl.) Profitability • Real profitability: Trailing Twelve Month solo RoAE stands at 44,3% (Consolidated 56,0%) • Discount rate applied to technical reserves has been reduced by 250bps to
Slide 14: Premium Volume and Composition
Premium Volume and Composition OTHER 19% Anadolu Sigorta GWP (TL mn) Non-Life Sector GWP1 (TL mn) MOTOR 35% 1Q24 1Q25 Y/Y (%) 1Q24 1Q25 Y/Y (%) ANSGR TL 23,2 bn HEALTH MTPL 2.581 3.800 47,2 41.456 68.682 65,7 28% FIRE 18% MOD 3.394 4.216 24,2 25.508 32.621 27,9 Fire and 3.406 4.253 24,9 19.995 27.75
Slide 15: Sales Channels
Sales Channels Premium Production – Anadolu Premium Production1 – Sector 25.000 TL mn 300.000 TL mn 7% 250.000 13% 20.000 18% 200.000 18% 10% 14% 15.000 18% 16% 12% 150.000 15% -1 10.000 16% 14% 100.000 61% 56% 5.000 56% 50.000 55% 0 0 1Q24 1Q25 1Q24 1Q25 Agency Bank Broker Other Agency Bank Broker
Slide 16: Market Share & Rank
Market Share & Rank1 Rank Market Share Market Share BRANCHES 1Q25 1Q25 1Q24 MOD 1 12,9% 13,3% Watercraft 1 27,2% 26,1% Transportation 1 14,6% 12,5% Aircraft 2 9,0% 13,0% Aircraft Liability 2 4,7% 11,9% Fire 3 9,8% 10,6% General Liability 3 11,5% 10,1% General Losses 3 6,6% 7,3% Health 4 9,7% 8,9% Ac
Slide 17: Technical Profitability – Long-term Perspective
Technical Profitability – Long-term Perspective Claims Ratio (%) 1Q24 1Q25 Combined Ratio (%) 1Q24 1Q25 MOD 60,4% 50,4% MOD 86,2% 78,7% MTPL 74,9% 124,8% MTPL 103,3% 151,7% Fire 59,1% 75,0% Fire 109,6% 131,1% Health 102,9% 92,4% Health 135,8% 114,6% Accident 11,3% 18,1% Accident 78,4% 72,3% General
Slide 18: Financial Highlights
Financial Highlights Fund Management and Investor Relations Department 18
Slide 19: Growth Performance
Growth Performance Total Assets (TL mn) Tech. Reserves (TL mn) 107.219 96.198 58.591 51.342 58.368 11,5% 35.982 14,1% 30.706 20.438 16.776 10.779 2021 2022 2023 2024 1Q25 2021 2022 2023 2024 1Q25 Assets Under Management (TL mn) Shareholders' Equity (TL mn) 30.656 29.104 55.524 58.503 32.026 5,4% 14.
Slide 20: Balance Sheet (TL mn)
Balance Sheet (TL mn) Change Change Assets 1Q24 1Q25 Liabilities 1Q24 1Q25 (%) (%) Cash + Marketable Sec. 41.587 66.155 59,1 Technical Provisions 39.229 58.591 49,4 Equity Participations 3.708 7.551 103,6 Shareholders' Equity 17.250 29.104 68,7 Other Assets 18.274 33.513 83,4 Other Liabilities 12.42
Slide 21: Investment Portfolio
Investment Portfolio Bonds 21% Short Term Interest In 1Q2025: Instruments 60% AuM at TL 58,5 bn Investment Income1 TL 3,9 bn Commodity as of 1Q2025 & Venture Capital 3% Quarterly Portfolio Return 7,1% Equity 12% Hedge Funds 4% ‣TL 55,5 bn at 31.12.2024 (1) Excludes TL 500 mn Anadolu Hayat dividend F
Slide 22: Strong RoE Generation
Strong RoE Generation 100% 90% 80% 75,2% 70% 64,2% 58,4% 60% 56,0% 48,5% 50% 44,3% 40% 36,2% Given Anadolu’s strong RoE 30% performance, 23,9% 24,5% Anadolu Sigorta trades at 17,4% undemanding P/B 20% valuations both in relative and absolute terms, 10% 0% 2021 2022 2023 2024 1Q25-TTM RoAE - Solo RoA
Slide 23: Income Statement (TL mn)
Income Statement (TL mn) 1Q24 1Q25 P&L 1Q24 1Q25 Y/Y (%) Y/Y (%) (Cons.) (Cons.) Tech. Income (1) 9.120 13.025 43 9.120 13.025 43 Tech. Expenses -9.151 -14.392 57 -9.151 -14.392 57 Net Financial Inc. + Other Exp. (2) 3.651 4.074 12 3.651 3.796 4 Gross Profit 3.620 2.707 -25 3.620 2.429 -33 Tax & Def
Slide 24: Disclaimer
Disclaimer This presentation contains forward-looking statements and information on the business development of Anadolu Sigorta. These statements may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “seeks” or words with similar meaning. These
Slide 25: Thanks
THANKS Fund Management and Investor Relations Department 25