Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Investor Presentation (September 2022)
30 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's investor presentation, Sep 30, 2022
Slide 1: Investment Presentation
INVESTMENT PRESENTATION 30.09.2022 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Company & Market Potential_____ 3 Company Overview_____________ 12 Financial Highlights _____________ 21 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 Number of Premium Production (₺ Bn) Companies 22M9 (bn TRY) Non Life 42 44% 126,29 Life 21 Life; 29% 20,59; Reinsurance 4 14% 87,6 18% Total 67 68,1 57,9 Number of Foreign Shared Companies Non- Life; Non Life 42 126,29 17,7 20,59 11,4 14,4 ; 86% Life 21 Reinsurance 4 12.19 12.20 12.21 09
Slide 5: Mandatory Policies in Turkey FY22
Mandatory Policies in Turkey FY22 EARTHQUAKE TRAFFIC • ~20 million houses • 26,2 million vehicles • 45,7% of houses are non-insured • 20% of vehicles are non-insured Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 5 SOURCE: DASK, Insurance In
Slide 6: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 868 Premium / GDP Premium Per Person 2020 (%) ($) 690 611 USA 8,07 5.135 515 503 UK 4,07 1.676 386 Switzerland 5,63 4.906 313 326 215 230 Poland 1,83 285 129 147 140 132 146 133 114 116 116 117 OECD 5,16 1.976 Turkey 1,36 117 2011 2012 2013 2
Slide 7: Non-Life Top Companies Market Share Trend
Non-Life Top 5 Companies Market Share Trend 16% 14% Türkiye Anadolu 12% Allianz 10% 8% Aksigorta 6% Axa 4% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 22M9 Allianz Anadolu Aksigorta Axa Türkiye Note: Data of Türkiye Sigorta before 2020 has created by consolidating Güneş, Ziraat and Halk insura
Slide 8: Top Non-Life Companies in the Sector
Top 10 Non-Life Companies in the Sector Premium Premium Production Share by Companies (₺ Mn) Production Production Change 21M9 22M9 (%) Türkiye 13% Türkiye 7.718 16.106 108,7 Other Anadolu 7.122 15.463 117,1 31% Allianz 6.663 13.372 100,7 Anadolu 12% Aksigorta 4.471 8.568 91,6 HDI 3.123 8.513 172,6
Slide 9: Premium Production
Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 21M9 22M9 ΔYoY (%) 21M9 22M9 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 1.955 4.020 105,7 16.010 34.985 118,5 MOD 1.245 3.958 217,9 9.426 27.045 186,9 Fire and Nat. D. 1.381 2.821 104,4 9.111 17.256 89,4 Health 852 1.418 66,4 8
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 – FY21
Distribution Channels – FY21 9 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Antalya Gaziantep Adana 1 Sales Office N. Cyprus 2.681 Professional Agencies 1.195 Isbank Branches ~25% working exclusively with Anadolu Working exclusively with Anadolu Copyright © 20
Slide 13: Distribution Channels
Distribution Channels Premium Production – ANSGR Premium Production – Sector 18.000 140.000 Millions 16.000 120.000 11% 14.000 14% 100.000 15% 12.000 12% -1 13% 12% 80.000 10.000 -2 8.000 60.000 13% 15% -2 6.000 12% 15% 11% +1 40.000 15% 61% 62% 4.000 20.000 +4 2.000 62% 57% TRY mn 0 TRY mn 0 21M9 2
Slide 14: Production by Regions – FY21
Production by Regions– FY21 Marmara 53% Black Sea 6% Middle Anatolia 17% East Anatolia Aegean 3% 10% South East Anatolia 3% Mediterranean 8% Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 14
Slide 15: Market Share & Rank (TRY mn)
Market Share & Rank (TRY mn) Rank Market Share BRANCHES 21M9 22M9 Growth (%) 22M9 22M9 MOD 1.245 3.958 1 14,6% 217,9 Fire 1.381 2.821 1 16,4% 104,4 Watercraft 220 554 1 33,0% 152,5 General Liability 313 495 1 12,6% 58,1 Aircraft 90 171 1 49,3% 90,0 Aircraft Liability 64 118 1 39,9% 83,7 MTPL 1.955 4
Slide 16: Profitability – Combined Ratio
Profitability – Combined Ratio Combined Ratio 21M9 22M9 MOD 106,4% 121,3% MTPL 125,7% 173,2% Fire 121,4% 117,3% Health 103,3% 126,2% Accident 60,3% 67,7% General Liability 295,3% 74,8% General Losses 105,6% 116,1% Total 116,2% 130,3% 128% 130% 113% 111% 106% 10% 12% 10% 10% 15% 16% 13% 9% 14% 14% 10
Slide 17: Company Profile
Company Profile ISO 9001 ISO 10002 Sustainability Quality Management Customer Satisfaction Sustainability Report System Certification Management System 2022 is published and Certification certified by GRI Standards Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor
Slide 18: Sustainability
Sustainability • We have significantly reduced energy consumption, CO2 emissions and paper consumption in the past years. One aspect of our approach to combating climate change is minimizing the effects of our company activities. Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Managemen
Slide 19: Company Ratings
Company Ratings Fitch Fitch Insurer Financial National Insurer Financial SAHA Corporate Strength Strength Governance Rating: Rating: B+ Rating: AA+(tur) 9.55 / 10 Outlook: Negative Outlook: Stable Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Departme
Slide 20: Shareholder Structure – 22Q3
Shareholder Structure – 22Q3 Milli Reasürans Türk Anonim Şirketi 286.550.106 57,3% Trakya Yatırım Holding A.Ş. 35.014.061 7,0% QİNVEST Portföy 25.212.000 5,0% Other 153.223.833 30,7% Total 500.000.000 100,0% IPO rate: ~48% Mcap (30.09.2022) : ₺4,500 Bn Free float: ~35% Capital (30.09.2022) : ₺500 Mn
Slide 21: Financial Highlights
Financial Highlights Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 21
Slide 22: Growth Performance
Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) 16.356 23.932 16.776 10.779 12.076 7.774 9.767 5.184 6.212 7.904 51,7% 42,7% 2018 2019 2020 2021 22M9 2018 2019 2020 2021 2022M9 Assets Under Management (mn TRY) (*) Shareholders' Equity (mn TRY) 13.084 4.072 3.204 9.297 2.810 7.32
Slide 23: Balance Sheet (₺ mn)
Balance Sheet (₺ mn) Change Change Assets 9.21 9.22 Liabilities 9.21 9.22 (%) (%) Cash + Marketable Sec. 9.601 15.307 59,4 Technical Provisions 9.305 16.356 75,8 Equity Participations 792 1.213 53,1 Shareholders' Equity 2.964 4.072 37,4 Other Assets 3.567 7.412 107,8 Other Liabilities 1.691 3.504 10
Slide 24: Solo & Consolidated Figures (₺ mn)
Solo & Consolidated Figures (₺ mn) 1150 27,4% 28,6% 28,8% 29,0% 24,2% 950 21,2% 24,0% 23,9% 18,7% 18,6% 17,4% 19,9% 750 19,0% 590 567 550 510 522 498 14,0% 449 461 403 350 308 324 9,0% 150 4,0% -50 2018 2019 2020 2021 22M9 -1,0% Net Profit Net Profit-Consolidated ROAE ROAE-Consolidated Copyright © 2
Slide 25: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 21Q3 22Q3 Change (%) P&L 21Q3 22Q3 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 1.674 3.194 91 1.674 3.194 91 Tech. Expenses -1.948 -4.223 117 -1.948 -4.223 117 Net Financial Inc. + Other Exp. (*) 311 1.173 278 345 1.256 264 Gross Profit 37 145 291 72 227 217 Tax &
Slide 26: Core Indicators
Core Indicators (TRY) FY21 22Q3 Change Mcap 3.285mn 4.500mn 37,0% Equity (Book Value) 3.204mn 4.072mn 27,1% P / BV 1,03 1,11 7,8% 5.000 160,0% 4.500 1,34 140,0% 1,25 4.500 4.000 4.072 120,0% 3.500 1,02 3.775 1,03 0,95 3.000 1,11 100,0% 3.285 3.204 2.500 2.810 80,0% 2.000 2.200 2.155 60,0% 2.055 1.50
Slide 27: Highlights – Anadolu
Highlights – Anadolu Premium growth in main branches • Ranked in top three at 15 non-life branches • MOD growth 304% vs. sector growth 256% in 22Q3 • MTPL growth 162% vs. sector growth 158% in 22Q3 Portfolio Allocation Updates • CPI linked Treasury Bonds • Increase in FX Long Position Investment por
Slide 28: Investment Portfolio
Investment Portfolio Deposits 14% Stock 8% In 22M9; TRY 13,1bn Dividend from ANHYT 88 mn TRY Bonds 57% Investment Income 2.549 mn TRY Funds 21% Portfolio Return ~* 36,5% * ANHYT dividend excluded. ‣TRY 11,3 bn at 30.06.2022 ‣TRY 9,3 bn at 31.12.2021 *Accrued yield in p&l table Copyright © 2021, Anad
Slide 29: 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 30: Thanks
THANKS Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 30