Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Grupo SURA — Q2 2024 Earnings Presentation
21 slides from Grupo De Inversiones Suramericana's earnings presentation, August 2024
Slide 1: Grupo SURA 2Q 2024 Results Presentation
Grupo SURA 2Q- 2024 GRUPO Sura = RESULTS PRESENTATION
Slide 2: Disclaimer
The forward-looking statements contained herein are based on Management’s current forecasts and outlook, which have been made under assumptions and estimates of the management of the Companies and may present variations. For better illustration and decision-making, figures for Suramericana, SURA Ass
Slide 3: The company's profitability continues to move positively towards value creation
The company's profitability continues to move positively towards value creation Operating profit| Operating margin Controlling net income| Adjusted ROE Expense growth below revenue has generated higher efficiency, The company presents expansion in profitability as a result of the resulting in an ope
Slide 4: Grupo SURA | 2Q 2024
GRUPO SURA | 2Q 2024
Slide 5: Grupo SURA's controlling net income reaches COP 5.1 tn, reflecting the progress made in the strategy
Grupo SURA's controlling net income reaches COP 5.1 tn, reflecting the progress made in the strategy Operating revenues1 Operating profit1 Controlling net income1 35% 165% 505% Excl. Nutresa Jun 24: Excl. Nutresa Jun 24: Excl. Nutresa Jun 24: COP 14,573 COP 2,836 COP 1,498 Var. %: +7% Var. %: +16% V
Slide 6: Diversification of the current portfolio contributes COP 2.2 tn to Grupo SURA's net income
Diversification of the current portfolio contributes COP 2.2 tn to Grupo SURA's net income Net income composition Var. % 760 -2% 587 281% -4 NA Adjusted controlling Nutresa sales Controlling net Controlling net Suramericana SURA AM Equity method Interests Administrative Others Minority Controlling n
Slide 7: Guidance | Grupo SURA
Guidance | Grupo SURA Guidance Update Jun 24 2024 Guidance 2024 Controlling net income 4.7 – 5.1 5.1 5.8 – 6.0 (COP $T) Net income excluding Nutresa 1.6 – 1.8 1.5 2.2 – 2.4 (COP $T) Net income per share excl. Nutresa 4,100 – 4,600 3,7911 5,500 – 6,000 (COP) Adjusted ROE 9%-10% 11.1%* 10.5%-11.5% 7
Slide 8: Revaluation of the Colombian peso against other currencies in the region
Revaluation of the Colombian peso against other currencies in the region June24 vs June23 Variation | Countries other than Closing rates ( ) / Average rate ( ) Colombia represent: COP/USD -15% 75% of commission income COP/PEN -15% in SURA AM COP/DOP -20% COP/UYU -15% 38% of premiums written in Suram
Slide 9: Suramericana 2Q 2024
SURAMERICANA 2Q 2024 suramericana \W
Slide 10: As of June 2024, EPS SURA is no longer consolidated in our financial statements
As of June 2024, EPS SURA is no longer consolidated in our financial statements • Consistent with the causes of the presentation of the progressive dismantling program, Suramericana will no longer consolidate EPS SURA starting in June 2024. • For comparability, Pro-forma figures will be analyzed exc
Slide 11: Suramericana's pro-forma premiums grow 9% in the first half at constant exchange rates
Suramericana’s pro-forma premiums grow 9% in the first half of the year at constant exchange rates. Written premiums | Retained claims 2Q Var.*: +9% Operating expenses1 2Q Var.: +4% ratio % 9%* 15%* 1% 2% Written premiums Retained claims ratio Operating expenses Efficiency ratio % Investment income
Slide 12: Premiums driven by voluntary health, occupational health and safety in life and auto solutions
Premiums driven by voluntary health, occupational health and safety in the life segment and auto solutions Written premiums| 1 S24 vs 1 S23 st st Written premiums | % Var. CR %Var % Var. CR %Var Jun24 vs Jun23 Jun24 vs Jun23 2T24 vs 2T23 2T24 vs 2T23 9.3% 0.6% 8.9% 0.6% 9.6% -4.5% 8.2% -5.1% 9.5% 7.
Slide 13: Efficiency efforts are reflected in a decrease in the combined ratio in P&C segment
Efficiency efforts are reflected in a 154 basis points decrease in the combined ratio in P&C segment Retained claims Combined ratio | P&C Annual Semester 80.0% 70.0% 60.0% Life 50.0% 40.0% 30.0% 20.0% 60.0% 55.0% 50.0% 45.0% 40.0% P&C 35.0% 30.0% 25.0% 20.0% 70.0% 60.0% 50.0% Life + P&C 40.0% 30.0%
Slide 14: Pro forma net income decreased by 18% due to the lower contribution of Life
Pro forma net income decreased by 18% due to the lower contribution oft Life segment. COP 567 billion +18% -55% -18% -3% -25% Life P&C Health* Admin. Interests Other** Pro forma Jun24 Deconsolidation Jun 24 expenses Net income effects*** Net income Var% Jun24 vs Jun23 Net income contribution 14
Slide 15: Guidance 2024 | Suramericana
Guidance 2024 | Suramericana Guidance Guidance 2024 Jun 24 2024 Proforma Written premiums 12% – 15% Insurance*: 10% -12% 9% 10%-12% (% growth) Health: 16% - 19% Claims 74%-76% Insurance*: 57%-59% 60% 60%-62% (% ratio) Health: 97%-98% Admin. expenses/ Written premiums 11%-12% 14.9% 14%-15% (% growth)
Slide 16: SURA AM | 2Q 2024
sura > ASSET MANAGEMENT. SURA AM | 2Q 2024 e@
Slide 17: SURA AM's net income grew 7% in constant exchange rates during the half-year
SURA AM's net income grew 7% in constant exchange rates during the half-year, driven by positive operating performance Commission income 2Q Var *: +12% Operating expenses 2Q Var *: +10% 11%* 8%* -5% -5% Operating profit Controlling net income | 2Q Var *: -28% ROE 2Q Var *: -55% 7%* 9%* -15% -8% Oper
Slide 18: Positive dynamics in both segments led to 11% growth in fee and commission income
Positive dynamics in both segments led to a 11% growth in fee and commission income at constant rate during the first half year Commission generating variables Commission income | 1 S24 VS 1 S23 st st Commission generating AUM (COP Tn) Salary Base (COP Tn) % Var. CR %Var Jun24 vs Jun23 Jun24 vs Jun2
Slide 19: Operating profit in the first half shows positive growth in local currency
Operating profit in the first half of the year shows positive growth in local currency due to the dynamics in both segments Savings and retirement reserve income Operating profit| 1 S 24 VS 1 S23 st st 2Q Var.*: -8% % Var. CR %Var Jun24 vs Jun23 Jun24 vs Jun23 Yield1 7.5% 3.5% -11.6% -12% -7%* 8.2%
Slide 20: Controlling net income reaches COP 418 billion, reflecting growth in Savings and Retirement and Sura Investments
Controlling net income reaches COP 418 billion, reflecting growth in the Savings and Retirement and Sura Investments segments -37% +33% +6% Savings and SURA Corporate Continued Discontinued Minority Controlling net Annuities & Net financial Others* retirement Investments Operating operations operati
Slide 21: Guidance 2024 | SURA AM
Guidance 2024 | SURA AM Guidance Jun 24 2024 AUM 9%-11% 13% (% growth) Commission income 8%-10% 11% (% growth) Adjusted ROE 7%-8% 8.7%* Adjusted ROTE 17%-21% 25.8%* 21