Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Investor Presentation (September 2024)
26 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's investor presentation, Sep 30, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION 30.09.2024 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Company & Market Potential_____ 3 Company Overview_____________ 10 Financial Highlights _____________ 22 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 2
Slide 3: Company & Market Potential
Company & Market Potential Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 3
Slide 4: Sector Data
Sector Data Premium Production (₺ Bn) 2024 Q3 (bn TRY) 110% 429,23 Life 69,30 133% 12% Number of Companies 29% Non Life 50 204,15 Life 20 Non-Life 501,20 Reinsurance 4 88% 87,6 68,1 56,69 Total 74 30,86 14,4 17,7 12.20 12.21 12.22 12.23 Non-Life Life Non-Life Life Copyright © 2021, Anadolu Sigorta.
Slide 5: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 5.028 Premium / GDP Premium Per Person 2022 (%) ($) USA 7,98 5.604 UK 3,92 1.952 2.394 Switzerland 6,82 5.181 1033 868 Poland 0,85 320 611 690 326 386 515 503 OECD 4,55 2.230 116 117 119 144 171 140 132 146 133 116 Turkey 1,23 144 2014 2015 2
Slide 6: Top 10 Non-Life Companies in the Sector
Top 10 Non-Life Companies in the Sector Premium Premium Change (₺ Mn) Production Production 23M9 24M9 (%) Production Share by Companies Türkiye Türkiye 38.697 72.580 87,6 14% Allianz 31.101 55.436 78,2 Other Anadolu 28.492 46.559 63,4 33% Allianz Axa 23.106 38.093 64,9 11% Aksigorta 17.843 25.020 40
Slide 7: Penetration Ratios
Penetration Ratios EARTHQUAKE INSURANCE HEALTH INSURANCE • ~20million houses • 85,4million Population • 56,2%of houses are insured • 6%of population has health insurance TRAFFIC INSURANCE MOD INSURANCE • 30,6million vehicles • 20,6million vehicles • 79%of vehicles are insured • 22%of vehicles are in
Slide 8: Highlights - Anadolu
Highlights - Anadolu Core Business • Strong growth in Fire branch %73 • Fire and Natural D. Combined Ratio %91,5 vs %134,8 in 23 M9 • Bancassurance premium above sector average MTPL • MTPL Premium growth 52% in 2024M9 • MTPL Claims Ratio %98,6 vs %137 in 23 M9 Assets Under Management • AUM reached t
Slide 9: Premium Production
Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 23M9 24M9 ΔYoY (%) 23M9 24M9 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 5.764 8.754 51,9 81.295 147.121 81,0 MOD 7.623 10.251 34,5 57.148 76.330 33,6 Fire and Nat. D. 5.820 10.042 72,5 42.271 85.561 102,4 Health 3.490 8.189 134
Slide 10: Company Overview
Company Overview Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 10
Slide 11: History
History • Founded by Mustafa Kemal Atatürk in 1925 • First national insurance company • Main activity: Non-life insurance (until 1991, both life and non-life) • group company Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 11
Slide 12: Distribution Channels – FY24 Q3
Distribution Channels – FY24 Q3 10 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Konya Antalya Gaziantep Adana 1 Sales Office N. Cyprus 2.962 Professional Agencies 1.050 Isbank Branches ~17% working exclusively with Anadolu Working exclusively with Anadolu Copy
Slide 13: Distribution Channels
Distribution Channels Premium Production – ANSGR Premium Production – Sector 50.000 600.000 Milyonlar 45.000 -3 9% 500.000 -3 40.000 11% 14% 35.000 400.000 +5 17% 15% +2 30.000 13% 13% 25.000 +1 300.000 11% -1 16% 20.000 13% 15% 200.000 14% 15.000 62% -3 59% 10.000 63% +2 100.000 55% 5.000 0 0 Mn TL
Slide 14: Market Share & Rank
Market Share & Rank Rank Market Share Market Share BRANCHES 24M9 23M9 24M9 MOD 1 13% 13% Watercraft 1 27% 26% Fire 2 14% 12% Aircraft 2 55% 34% General Losses 2 7% 6% Transportation 2 14% 15% Aircraft Liability 2 46% 26% Accident 3 6% 7% Health 3 8% 9% General Liability 3 10% 10% Credit 5 2% 2% Fina
Slide 15: Profitability – Combined Ratio
Profitability – Combined Ratio Combined Ratio (%) 23M9 24M9 Claims Ratio (%) 23M9 24M9 MOD 81,7 84,3 MOD 59,3 59,2 MTPL 163,7 128,1 MTPL 137,0 98,6 Fire 134,8 91,5 Fire 105,0 46,8 Health 107,3 120,2 Health 79,9 91,8 Accident 74,4 69,8 Accident 19,4 9,8 General Losses 101,7 85,2 General Losses 78,7 5
Slide 16: Company Profile
Company Profile ISO 9001 ISO 10002 Sustainability Quality Management Customer Satisfaction Sustainability Report System Certification Management System 2023 is published and Certification certified by GRI Standards Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor
Slide 17: Company Ratings
Company Ratings Fitch Fitch Insurer Financial National Insurer Financial SAHA Corporate Strength Strength Governance Rating Rating: BB Rating: AA+(tur) 9,59/ 10 Outlook: Stable Outlook: Stable Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 18: Shareholder Structure – 2024
Shareholder Structure – 2024 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 (30.09.2024) : ₺40,0 Bn Free float: ~35% Capital (30.09.2024) : ₺500 Mn Copyright © 2021, Anadolu Sig
Slide 19: Financial Highlights
Financial Highlights Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 19
Slide 20: Growth Performance
Growth Performance Total Assets (mn TRY) Tech. Reserves (mn TRY) 84.596 44.581 35.982 58.368 44,9% 20.438 23,9% 30.706 16.776 10.779 12.076 7.774 2020 2021 2022 2023 24M9 2020 2021 2022 2023 24M9 Assets Under Management (mn TRY) Shareholders' Equity (mn TRY) 27.675 49.780 32.026 14.204 55,4% 94,8% 1
Slide 21: Balance Sheet (₺ mn)
Balance Sheet (₺ mn) Change Change Assets 09.23 09.24 Liabilities 09.23 09.24 (%) (%) Cash + Marketable Sec. 34.342 54.286 58,1 Technical Provisions 29.211 44.581 52,6 Equity Participations 4.228 9.082 114,8 Shareholders' Equity 14.629 27.675 89,2 Other Assets 15.058 21.228 41,0 Other Liabilities 9.
Slide 22: Solo & Consolidated ROAE
Solo & Consolidated ROAE 100% 89,3% 90% 80% 75,2% 72,8% 71,2% 70% 60,7% 58,4% 60% 50,7% 50% 44,4% 40,8% 40% 32,3% 28,6% 30% 24,2% 23,9% 21,2% 20% 18,6% 17,4% 10% 0% 2019 2020 2021 2022 2023 2024Q1 2024H1 2024M9 ROAE ROAE-Consolidated * 12 Months Trailing Profit Copyright © 2021, Anadolu Sigorta. All
Slide 23: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 23Q3 24Q3 Change (%) P&L 23Q3 24Q3 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 6.714 11.253 68 6.714 11.253 68 Tech. Expenses -6.889 -11.680 70 -6.889 -11.680 70 Net Financial Inc. + Other Exp. (**) 3.532 3.786 7 3.679 3.941 7 Gross Profit 3.357 3.359 0 3.504 3.51
Slide 24: Investment Portfolio
Investment Portfolio Other 2% Deposits Bonds 31% 23% In 24M9: TRY 49,8 bn Investment Income 11.812 bn TRY Portfolio Return 34% Stock 11% Funds 34% ‣TRY 41,5 bn at 30.06.2024 ‣TRY 32,0 bn at 31.12.2023 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Depa
Slide 25: Disclaimer Statement
Disclaimer Statement 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 mean
Slide 26: Thanks
THANKS Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 26