Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Q1 2016 Earnings Presentation
41 slides from Grupo De Inversiones Suramericana's earnings presentation, 2016
Slide 1: Corporate Presentation 1Q 2016
Corporate Presentation 1Q 2016 1
Slide 2: Disclaimer
DISCLAIMER the forward-looking statements contained herein are based on Management’s current forecasts and outlook. For better illustration and decision-making, figures for Suramericana, SURA Asset Management and its subsidiaries are administrative rather than accountant, and therefore may differ fr
Slide 3: Agenda
AGENDA GRUPO SURA STRATEGY GRUPO SURA CONSOLIDATED RESULTS SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A INSURANCE AND SOCIAL SECURITY SURA ASSET MANAGEMENT PENSIONS, SAVINGS AND ASSET MANAGEMET BANCOLOMBIA, GRUPO ARGOS AND GRUPO NUTRESA 3
Slide 4: Grupo SURA Main Figures
GRUPO SURA MAIN FIGURES INTERNATIONAL AS OF MARCH 2016 INVESTMENT GRADE COMERCIAL VALUE OF THE INVESTMENT PORTFOLIO 1 ~ 44 Fitch BBB S&P BBB MILLION CLIENTS Local Rating: CONSOLIDATED Fitch AAA REVENUES USD 8.7 BILLION USD 1.3 BILLION + 26.8 % vs .1Q 2015 USD ~163 BILLION Colombian company with the
Slide 5: Grupo SURA Strategy
GRUPO SURA STRATEGY Lima 5
Slide 6: Focus on Strategic Sectors
FOCUS ON STRATEGIC SECTORS FINANCIAL INVESTMENTS INDUSTRIAL INVESTMENTS 81.1% 78.7% 46.4% 35.2% 35.7% PROCESSED CEMENT, ENERGY FOOD INFRASTRUCTURE INSURANCE AND PENSIONS, UNIVERSAL BANKING SOCIAL SECURITY AND REAL ESTATE SAVINGS AND INVESTMENT OTHER INVESTMENTS *Stake in common shares As of March 20
Slide 7: Strategy
STRATEGY COMPREHENSIVE RANGE OF SERVICES GEOGRAPHIC EXPANSION AND MARKET AND SYNERGIES DEVELOPMENT • Organic and inorganic growth based on our regional • New customer-focused goals presence in both the current and target markets. Development of our • Strengthening our group dynamics and • Extending
Slide 8: Investment Portfolio
INVESTMENT PORTFOLIO Grupo Argos Other Bancolombia 17.8% 0.4% 24.1% 8.7 USD Grupo Nutresa 15.9% BILLION* MARCH 2016 Sura Asset Suramericana Management 16.1% 25.7% Including the commercial value pursuant to accountant standards and the stakes held in GRUPO SURA and Affiliates. 8 Considering Surameric
Slide 9: Dividends
DIVIDENDS Grupo Argos 6.5% Other 7.7% Uruguay Grupo Nutresa 0.8% 8.0% Peru 11.4% 331 USD USD Bancolombia 21.5% 331 MILLION Mexico 13.9% MILLION BY COMPANY BY COUNTRY Colombia SURA Asset 40.4% Management Chile 25.8% Suramericana 53.9% 10.1% 400 331.2 350 DIVIDEND EVOLUTION 270.6 300 250 200.1 182.7 2
Slide 10: Cash Flow Generation
CASH FLOW GENERATION Grupo SURA generates close to USD 200 million for debt and dividend payment, and for investments 2015(1) 2016 (E) (1) 48 40 51 86 259 344 219 296 168 168 210 210 Dividends Operating Operating Interest Cash Dividends and Operating Operating Interest Cash and Other Expenses Cash F
Slide 11: Shareholders
SHAREHOLDERS 9.3% 10.4% Grupo Argos and 3.8% 4.9% subsidiaries 28.8% Grupo Nutresa 34.7% Colombian Pension 19.7% (COMM) (COMM+PREF) Funds 20.5% International Funds 10.3% Retail Investors 19.9% 12.7% 25.1% Institutional Investors TREND IN INTERNATIONAL INVESTORS 17.4% 20.5% 20.5% 700 14.3% Outstandin
Slide 12: Corporate Governance and Sustainability
CORPORATE GOVERNANCE AND SUSTAINABILITY Grupo SURA’s score evolution in the DJSI HIGH CORPORATE STANDARDS 100 Code of Good Governance in accordance 90 with international practices. 80 70 The Board of Directors has 7 members of 60 which 4 are independent. The chairman 50 and vice-chairman are indepen
Slide 13: Corporate Responsibility
CORPORATE RESPONSIBILITY SOCIAL DEVELOPMENT active role in a wide range of social development programs either in the form of institutional donations or the volunteer work of Grupo SURA’s employee. BUSINESS MANAGEMENT Practices used to obtain our corporate goals. A COMPREHENSIVE VIEW OF OUR CORPORATE
Slide 14: Business Model Focused on Clients
BUSINESS MODEL FOCUSED ON CLIENTS Comprehensive service offer designed to satisfy the VOLUNTARY SAVINGS different needs through the life cycle. Strategies and synergies to strengthen the retention of our clients VALUE OFFER Life Cycle $ UNIVERSAL BANKING MANDATORY UNIVERSAL Equity PENSIONS 44 MILLIO
Slide 15: Strategic Business Expansion
MÉXICO REPÚBLICA DOMINICANA GUATEMALA EL SALVADOR PANAMÁ STRATEGIC BUSINESS EXPANSION COLOMBIA New presence including the RSA acquisition BRASIL PERÚ STRATEGIC INVESTMENTS CHILE URUGUAY 44 MILLION CLIENTS ARGENTINA 15
Slide 16: Demographic Fundamentals
DEMOGRAPHIC FUNDAMENTALS YOUNG AND GROWING POPULATION 364 MM de 559 MM Age 2010 people over 20 2050 people over 20 100+ 90 – 94 7% 19% Annuities 80 – 84 70 – 74 INTERESTING DEMOGRAPHIC 60 – 64 EVOLUTION IN LATAM(1) accumulation 50 – 54 51% Savings and 47% period 40 – 44 30 – 34 20 – 24 10 – 14 0–4 -
Slide 17: Financial Services Penetration
FINANCIAL SERVICES PENETRATION 83.0% 84.4% 195.1% 167.1% 68.3% PENSION PENETRATION (% GDP) BANKING PENETRATION (% GDP) 89.3% 31.6% 76.5% 19.8% 19.9% 20.8% 23.5% 47.6% 43.6% 15.7% 11.0% 31.4% 23.1% 27.1% 45.3% 24.0% 0.9% USA WA OECD* Uruguay El Salvador Dom. Republic Peru Mexico Colombia USA Europe E
Slide 18: Grupo SURA Consolidated Results 1Q
GRUPO SURA CONSOLIDATED RESULTS 1Q Panama 18
Slide 19: Statement of Financial Position Consolidated
STATEMENT OF FINANCIAL POSITION CONSOLIDATED 18.5 19.1 ASSETS SHAREHOLDER’S EQUITY 9.8 11.0 LIABILITIES 8.7 8.2 2015 2015 2016 ASSETS mar-16 Var. $Bn dec-15 % Change Investments 7.2 (0.0) 7.2 -0.3% dic-15 18.5 +0.6 Bn Goodwill 1.4 (0.0) 1.4 -1.6% 3.4% Identified intangible assets 1.3 (0.0) 1.3 -2.1%
Slide 20: Statement of Financial Position Consolidated
STATEMENT OF FINANCIAL POSITION CONSOLIDATED LIABILITIES TOTAL SHAREHOLDER’S EQUITY dic-15 9.8 dic-15 8.7 +1.2 Bn -0.5 Bn 11.7% -5.9% mar-16 11.0 mar-16 8.2 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10 .0 0.0 2.0 4.0 6.0 8.0 10 .0 12 .0 mar-16 Var. $Bn dec-15 %Change Other financial liabilities 1.6 0.
Slide 21: Statement of Comprehensive Income Consolidated
STATEMENT OF COMPREHENSIVE INCOME CONSOLIDATED mar-16 Var. $ mar-15 % Var Retained premiums (net) 657.4 135.7 521.7 26.0% mar-15 1,039 Commission income 175.1 24.4 150.7 16.2% +278 MM Revenues on services rendered 186.0 32.7 153.3 21.3% TOTAL 26.8% Investment income 140.6 24.0 116.6 20.6% REVENUES R
Slide 22: Debt Grupo SURA
DEBT GRUPO SURA Banks 16.1% COP 23.6% TYPE OF CURRENCY DEBT EXPOSURE USD Bonds 76.4% 83.9% DEBT MATURITY PROFILE 550 * Banks 300 International Bonds Local Bonds 127 74 100 74 53 33 33 33 32 - - - - 2016 2017 2018 2019 2020 2021 . 2023 . 2026 . 2029 2030 . 2049 22 Figures in USD Million * Figures as
Slide 23: Suramericana S.A Consolidated Results 1Q
SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A CONSOLIDATED RESULTS 1Q Bogotá 23
Slide 24: Suramericana S.A
MEXICO 1 2.3 % DOMINICAN REPUBLIC (Ranking 5) 1.4M 8.6% 0.1M EL SALVADOR (Ranking 2) PANAMA (Ranking 4) 19.3% 0.6M 9.1% 0.2M SURAMERICANA S.A COLOMBIA (Ranking 1) 3 Market Share 23.8% + 3% 11M Clients Current Operations Operation in acquisition process to RSA BRASIL 1M REVENUES BREAKDOWN Panama 4.2%
Slide 25: Suramericana Consolidated Figures
SURA ASEGURAMIENTO, TENDENCIAS Y RIESGOS SURAMERICANA S.A CONSOLIDATED FIGURES mar-16 Var. $ mar-15 %Var mar-15 577.5 Retained premiums (net) 424.4 64.8 359.6 18.0% +119.7 MM 20.7% Revenues on services rendered 172.2 31.1 141.0 22.1% TOTAL Investment income 80.7 23.9 56.8 42.0% REVENUES Main variati
Slide 26: Life Insurance Segment Premiums and Claims Ratio
LIFE INSURANCE SEGMENT PREMIUMS AND CLAIMS RATIO Premiums Retained Premiums Retained Claims Ratio mar-16 %Var mar-16 %Var mar-16 mar-15 Life 47 16.2% 41 17.6% 30.4% 26.7% Group Life 38 12.9% 37 13.1% 43.6% 35.9% Pension 48 -1.9% 48 0.9% 97.4% 95.3% Health 70 19.4% 69 18.5% 58.5% 58.3% ARL (worker co
Slide 27: Non-Life Insurance Segment Premiums and Claims Ratio
NON-LIFE INSURANCE SEGMENT PREMIUMS AND CLAIMS RATIO Premiums Retained Premiums Retained Claims Ratio mar-16 %Var mar-16 %Var mar-16 mar-15 Auto 84 37.4% 82 37.7% 69.7% 66.5% Fire 25 9.9% 5 -12.1% 40.7% 34.6% Mandatory road accident 29 20.6% 27 32.4% 54.2% 48.6% Other 57 47.9% 31 43.1% 35.8% 34.1% T
Slide 28: Health Care Segment Premiums and Claims Ratio
HEALTH CARE SEGMENT PREMIUMS AND CLAIMS RATIO Services rendered Costs of services Claims Ratio mar-16 %Var mar-16 %Var mar-16 mar-15 EPS 158 24.7% 146 18.3% 92.3% 97.3% IPS 29 17.3% 20 17.0% Dinámica 15 9.8% 11 9.0% Total 202 22.3% 177 17.5% Figures in USD Million 28
Slide 29: SURA Asset Management Consolidated Results 1Q
SURA ASSET MANAGEMENT CONSOLIDATED RESULTS 1Q Santiago de Chile 29
Slide 30: SURA Asset Management
MEXICO (Ranking 3) 25.9Bn 14.6 % USD 6.3M 3,025 SURA ASSET MANAGEMENT Nº1 in Pensions in Latinamerica EL SALVADOR (Ranking 2) COLOMBIA (Ranking 2) USD 4.1Bn 47.2% 1.42M 302 USD 24.1Bn 36.6% 5.3M 1,872 AUM Market Share PERÚ (Ranking 1) Clients USD 17.0Bn 40.3% 2.1M 1,280 Employees CHILE (Ranking 4) U
Slide 31: SURA Asset Management Consolidated Figures
SURA ASSET MANAGEMENT CONSOLIDATED FIGURES mar-16 Var. $ mar-15 %Change mar-15 368.9 Retained premiums (net) 233.2 71.0 162.2 43.8% +105.1 MM Commission income 161.6 23.3 138.3 16.8% TOTAL Investment income 68.2 8.38 59.8 14.0% 28.5% REVENUES Revenues via equity method 9.21 2.90 6.31 46.0% mar-16 47
Slide 32: Mandatory Pension Main Figures
MANDATORY PENSION MAIN FIGURES COMMISSION INCOME RETURN ON ENCAJE 19.6% 9.2% 17.9% 17.2% 14.8% 2.0% 0.1% 1.0% 13.4% 1.4% -98.3% -43.0% -80.5% 63.6% -84.6% 14 147.8 128.8 -47.8% 58.2% -86.7% -98.6% -83.3% 10 49.8 53.8 58.8 41.6 33.7 28.6 3 2.2 4.7 5.6 2 1 1 0 1 0 Chile Mexico Peru Uruguay Total Chile
Slide 33: Mandatory Pension Market Figures
MANDATORY PENSION MARKET FIGURES ASSETS UNDER MANAGEMENT FUND MEMBERSHIP (MM) (USD BILLION) 8.0% 5.7% 12.1% 12.0% 8.7% 23.8% 8.9% -2.8% 2.6% -0.8% 1.8% 3.7% 5.2% 2.0% 1.6% 5.1% 5.0% 19.7% 8.7% 7.2% 5.0% 15.7 16.0 97.1 89.2 6.2 6.3 3.9 4.1 29.4 31.7 20.522.3 1.8 1.8 2.0 2.0 1.4 1.5 20.8 21.9 0.3 0.3
Slide 34: Voluntary Savings Segment Main Figures
VOLUNTARY SAVINGS SEGMENT MAIN FIGURES COMMISSION INCOME NET PREMIUMS WITH SAVINGS 45.4% 39.0% 36.3% 82.8% 42.3% 76.5% 0.0% 162.5% 81.0% 16.8% 76.8% 25.1% 13 50.6% 0.0% 124.9% 54.5% 71.7 24.1% 27.4% 66.5 9 7.1 37.7 39.6 4.9 5.4 3.9 0.7 0.9 5.0 0.1 0.1 0.0 0.1 1.9 Chile Mexico Peru Uruguay Total Chil
Slide 35: Voluntary Savings Segment Market Figures
VOLUNTARY SAVINGS SEGMENT MARKET FIGURES ASSETS UNDER MANAGEMENT CLIENTS (USD MILLION) (THOUSANDS) 5.1% 23.3% 2.2% 144.0% 2.6% 7.7% 21.4% 13.1% 66.2% 42.6% 7.5% 17.1% 14.2% 12.5% 55.6% 52.3% 7.5% 14.2% 866 8.7 804 7.4 369 388 266 273 2.9 3.0 3.4 2.4 1.7 1.8 131 161 0.6 35 35 3 8 0.4 0.0 0.0 Chile Me
Slide 36: Insurance Segment Main Figures
INSURANCE SEGMENT MAIN FIGURES TOTAL PREMIUMS ADJUSTMENTS TO RESERVES 57.8% 14.0% -1.2% 31.8% 161.6 88.2% 15.0% 5.1% 48.0% 34.6% 4.5% -15.3% 14.7% 141 60.6% 5.4% -9.9% 28.9% 123 95 87 95 60 33 38 46 29 29 26 30 23 24 Chile Mexico Peru Total Chile Mexico Peru Total RETAINED CLAIMS dec-14 dec-15 %Chan
Slide 37: Bancolombia, Grupo Nutresa and Grupo Argos
BANCOLOMBIA, GRUPO NUTRESA AND GRUPO ARGOS Medellín 37
Slide 38: Bancolombia
BANCOLOMBIA • Leading franchise in Colombia an Central America, markets with attractive growth perspectives • Focus on growth in profitable segments MAIN FIGURES • Preserves a culture of conservative risk management, maintaining sound levels of capital and liquidity • ADR Level 3 USD 63.8 Bn 23.4 %
Slide 39: Grupo Argos
GRUPO ARGOS STRATEGIC OPERATIONS Cement Energy Ports Coal Real Estate Infrastructure MAIN FIGURES Holding 24.2% Cement 39.4% USD 321MM USD 5.2 Bn EBITDA MARKET CAP DISTRIBUCIÓN Real Estate 1.0% Port Facilities 1.0% EBITDA 23.7 % EBITDA 7.0 % DIVIDEND GROWTH 2015-16 MARGIN Infrastructure 12.1% Energy
Slide 40: Grupo Nutresa
GRUPO NUTRESA • Leader in the processed food industry in Colombia and the fourth* largest in Latin America • Presence in 15 countries with production plants in 12 of them • In 2013 it acquired Tresmontes Lucchetti, the second largest processed food company in Chile. It also made a joint venture with
Slide 41: Contact: CEO, CFO and IR
CEO: DAVID BOJANINI CFO: RICARDO JARAMILLO IR Director: JUAN CARLOS GOMEZ IR Specialist: MARIA ADELAIDA OCHOA E-mail: ir@gruposura.com.co Phone: (574) 4355941 www.gruposura.com.co GRUPO SURA App Para dispositivos móvil (App Store – Google Play) 41
Grupo de Inversiones Suramericana — Q1 2016 Earnings Presentation on 6ix