Linea Directa Aseguradora Sa · BME:LDA
Linea Directa Aseguradora Sa — H1 2024 Earnings Presentation
26 slides from Linea Directa Aseguradora Sa's earnings presentation, Jul 24, 2024
Slide 1: Other relevant information filing notice
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 half 2024 results presentation for analysts and investors, which w
Slide 2: June 2024 Results
June 2024 Results IFRS17&9 Presentation for analysts and investors 24 July 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. June 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 €503.9M COMBINED RATIO +2.4% vs. 6M 2023 95.5% 93.6% in 2Q ‘24 +2.3% +4.3% +8.3% -12.4 p.p. vs. 6M ‘23 INCOME INCOME INCOME IFRS 17 IFRS 17 IFRS 17 EXPENSE RATIO 2 Net income
Slide 7: June 2024 Results
June 2024 Results <7" linea directa
Slide 8: June 2024 Results
02. June 2024 Results IFRS17&9 Thousand euro 6M 2024 6M 2023 % var. 2Q 2024 Gross written premiums (GWP) 503,900 491,947 2.4% 252,481 Insurance income reached 486.6 million euros, an Ordinary insurance activities income 1 486,607 473,663 2.7% 243,989 increase of 2.7% Technical insurance result, ne
Slide 9: Premiums and policyholders
02. Premiums and policyholders Premiums and policyholders by business line Premiums Policyholders €503.9M 3,338 thousand Gross Written Premiums Policyholders Thousand euro 6M 2024 6M 2023 % var. Thousand 6M 2024 6M 2023 % var. Motor 402,583 396,107 1.6% Motor 2,465 2,562 -3.8% Home 78,628 75,283 4.4
Slide 10: Motor Segment
02. Motor Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 +1.6% +2.3% (13.6) p.p Thousand euro In the quarter, the portfolio increased by more than 5,300 The combined ratio has evolved very positively, both year- policyholders, reversing the recent trend on-ye
Slide 11: Home Segment
02. Home Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 (6.7) p.p +4.4% +4.3% Thousand euro As with Motor, the second quarter has shown growth of more than 1,800 policyholders The level of claims has been excellent, helped by the lack of atmospheric events in
Slide 12: Health Segment
02. Health Segment IFRS17&9 INCOME COMBINED RATIO IFRS17&9 GWP INSURANCE INCOME1 (NET) IFRS 17 (14.9) p.p +9.4% +8.2% Thousand euro Notable growth continues, although the business mix reflects Frequencies and average costs have been contained while more basic products we continue to work on the
Slide 13: Loss ratio
02. Loss ratio IFRS17&9 Thousand euro 6M 2024 6M 2023 % var. 2Q 2024 Motor Insurance income, net of Motor has evolved very positively, driven by a stabilised 474,519 461,994 2.7% 238,149 reinsurance [A] claims performance and contained frequencies Motor 392,513 383,674 2.3% 196,642 Home 72,860 69,84
Slide 14: Expense ratio
02. Expense ratio IFRS17&9 Thousand euro 6M 2024 6M 2023 % var. 2Q 2024 Acquisition Administration Contained acquisition The trend in administrative Insurance income, net of reinsurance expenses 474,519 461,994 2.7% 238,149 expenses continues to be [A] The Health segment has excellent decreased mark
Slide 15: Financial result
02. Financial result IFRS17&9 Thousand euro 6M 2024 6M 2023 % var. Greater income in the fixed-income portfolio and to a lower extent, income from the swap and interest on bank deposits Income 17,569 12,908 36.1% Interest on b ank deposits 874 514 70.0% Interest on fixed income securities 10,825 7,4
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 6M 2024 6M 2023 % var. Movements registered in OCI 1,694 9,933 -82.9% MTM fixed income and equity instruments (634) 7,846 -108.1% Realised gains (losses) i
Slide 17: Solvency II
02. Solvency II The solvency margin remains very solid, reaching 184% after approval of the first interim dividend for the year. Solvency margin (post-dividend) Solvency own funds walk 3M 2024 – 6M 2024 183% 184% Million euro 1. Solvency ratio and eligible own funds refer to Línea Directa Asegurador
Slide 18: Solvency II capital required breakdown
02. Solvency II Breakdown of capital required Highlights Thousand euro 6M 2024 3M 2024 Increases mainly due to the greater exposure to SCR Market 102,573 99,594 SCR corporate fixed income (spread and interest rate MARKET SCR Counterparty 6,064 6,470 risk) SCR Health 3,311 3,462 SCR Non-Life 195,05
Slide 19: Q&A
Q&A <7" linea directa
Slide 20: Annex
Nalats,4 <7" linea directa
Slide 21: Income statement by segment (Motor, Home)
04. Income statement by segment IFRS17&9 Income statement – Motor Segment Income statement – Home Segment Thousand euro 6M 2024 6M 2023 % var. Thousand euro 6M 2024 6M 2023 % var. Gross written premiums 402,583 396,107 1.6% Gross written premiums 78,628 75,283 4.4% Income from ordinary insurance act
Slide 22: Income statement by segment (Health, Other)
04. Income statement by segment IFRS17&9 Income statement – Health Segment Income statement – Other Insurance Businesses1 Thousand euro 6M 2024 6M 2023 % var. Thousand euro 6M 2024 6M 2023 % var. Gross written premiums 21,656 19,803 9.4% Gross written premiums 1,033 754 37.0% Income from ordinary in
Slide 23: Consolidated balance sheet
04. Consolidated balance sheet IFRS17&9 Assets Liabilities and Equity Thousand euro Thousand euro ASSETS 6M 2024 12M 2023 % var. LIABILITIES AND EQUITY 3M 2024 12M 2023 % var. Cash and cash equivalents 31,428 41,746 -24.7% Financial liabilities at amortised cost 66,775 65,313 2.2% Financial assets a
Slide 24: Management ratios
04. Management ratios IFRS17&9 y IFRS4 Loss Ratio Expense Ratio Combined Ratio IFRS 17 6M 2024 6M 2023 p.p. var. 6M 2024 6M 2023 p.p. var. 6M 2024 6M 2023 p.p. var. Motor 75.5% 89.3% -13.8 p.p 20.1% 19.9% 0.2 p.p 95.6% 109.2% -13.6 p.p Home 60.3% 65.7% -5.4 p.p 28.4% 29.9% -1.5 p.p 88.8% 95.5% -6.7
Slide 25: Combined ratio – comparison and brief description
04. Combined ratio – comparison and brief description IFRS17&9 vs. IFRS4 Loss ratio COMBINED RATIO 6M 2024 IFRS 4 IFRS 17 The loss ratio does not include the discounting effect in the curve’s Premiums earned, net of reinsurance 474,606 movement, which is recorded in OCI, €1.2 million at June 2024,
Slide 26: Thank you
Thank you 24 July 2024 a ih \_@@, linea directa
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