Allianz Malaysia Bhd. · MYX:ALLIANZ
Allianz Malaysia Bhd — Shareholder Meeting (June 2022)
24 slides from Allianz Malaysia Bhd's shareholder meeting presentation, Jun 22, 2022
Slide 1: 48th Annual General Meeting
Annexure I Allianz Malaysia Berhad 197201000819 (12428-W) 48th Annual General Meeting 22 June 2022 © Allianz 20XX
Slide 2: Content / topics
Content / topics Group Performance 1 General Business 2 Life Business 3 © Copyright Allianz Malaysia Berhad 2
Slide 3: Malaysian insurance market is under-penetrated but growth remains subdued and challenging
GROUP PERFORMANCE Malaysian insurance market is under-penetrated but growth remains subdued and challenging Malaysian Conventional Insurance Industry 21 38,907 1 1.3% 2 2.7% +3.1% General insurers General agents Insurance penetration GWP GROWTH 2021 GDP GROWTH 2021 (% of GDP) (2020 -0.6%) (2020 -5.6
Slide 4: Sound fundamental business to overcome the challenges
GROUP PERFORMANCE Sound fundamental business to overcome the challenges FY 2021 RM 6.43bn RM 5.69bn RM 625.6mn + 8.2% (2020 +7.4%) + 7.2% (2020 +7.8%) -14.3% (2020 +5.4%) Operating revenue GWP Profit before tax ALIM RM 220.5mn - 28.6% AGIC RM 437.2mn +1.2% Investment holding RM (32.1mn) (>100%) RM 1
Slide 5: Diversification in two strong pillars of businesses
GROUP PERFORMANCE Diversification in two strong pillars of businesses: maintain market leadership in general insurance & deliver strong growth in life insurance Gross Written Premium (GWP) (RM’ mil) 5-yr CAGR +6.3% +7.2% 5,690 Allianz Life achieved top 4 5,305 position in ANP, with 9.0% 4,923 4,505
Slide 6: Group profit remains resilient despite fair value losses from Life Segment
GROUP PERFORMANCE Group profit remains resilient despite fair value losses from Life Segment Profit before Tax (RM’ mil) Maintain strong discipline in 5-yr CAGR pricing & prudent expense management +6.6% -14.3% 692 730 Deliver healthy and sustainable 626 margins. Achieved NBV of 519 298 Allianz Life
Slide 7: Marginally lower core profit. Resilient underwriting results from General Insurance and Life Protection
GROUP PERFORMANCE Marginally lower core profit. Resilient underwriting results from General Insurance segment and Life Protection business Profit before Tax (RM’ mil) Core profit excluding fair value and tax impact (RM’ mil) -14.3% -2.7% +10.7%* 730 5 626 691 27 673 12 (2) 7 (21) (66) (20) 268 270 A
Slide 8: Our solid track record
GROUP PERFORMANCE Our solid track record 3 YEAR RM’mil 2018 2019 2020 2021 CAGR (2018-2021) Gross Written Premiums 4,504.8 4,922.5 5,305.2 5,689.6 8.1% Management Expenses 554.9 618.0 641.4 683.8 7.2% Expense Ratio (Non Life) 18.4% 20.2% 19.8% 18.7% (0.3 pts) Expense Ratio (Life)1 10.0% 10.5% 9.4% 9
Slide 9: Good start for 2022
GROUP PERFORMANCE Good start for 2022 3M 2022 RM 1.71bn RM 1.62bn RM 151.8mn + 6.3% (2021 +8.2%) + 9.5% (2021 +8.8%) >100.0% (2021 -26.7%) Operating revenue GWP Profit before tax ALIM RM 67.7mn >100.0% AGIC RM 102.2mn +10.4% Investment holding RM (18.1mn) (>100%) RM 0.57 RM 23.9bn +59.5% (2021 -20.5
Slide 10: Profitable growth in 3M 2022
GROUP PERFORMANCE Profitable growth in 3M 2022 Profit before Tax (RM’ mil) Core profit excluding fair value and tax impact (RM’ mil) >100.0% +41.4% 14 185 58 16 152 1 67 (13) 10 131 101 Allianz Life 185 >100.0% y-o-y growth 43 130 (34) 93 102 (50) Allianz General 10.4% y-o-y growth (13) 3M 21 Genera
Slide 11: Maintain strong shareholders' dividend return
GROUP PERFORMANCE Maintain strong shareholders’ dividend return Dividend Per Share (RM sen) 2019 2020 2021 Dividend Yield1 4.4% 4.3% 5.4% Payout Ratio 50.2% 42.4% 50.0% Ordinary Share 5-yr CAGR Preference Share +47.6% +8.6% Dividend policy of minimum payment ratio -10.8% of 30% is subject to: 78.00
Slide 12: Content / topics
Content / topics Group Performance 1 General Business 2 Life Business 3 © Copyright Allianz Malaysia Berhad 12
Slide 13: Allianz General: maintaining market leadership
GENERAL BUSINESS Allianz General: maintaining market leadership KPIs ALLIANZ GENERAL ALLIANZ GENERAL Industry1 Takaful1 12M 2021 12M 2020 12M 2021 12M 2021 GWP growth 3.2% 7.2% 2.7% 10.6% Commission ratio 12.5% 13.1% 10.0% 8.4% Claims ratio • Overall 56.6% 55.5% 49.9% 51.3% • Motor 53.0% 59.6% 55.6%
Slide 14: Outperforming industry amidst subdued growth environment
GENERAL BUSINESS Outperforming industry amidst subdued growth environment Gross Written Premium (GWP) (RM’ mil) Distribution Channel & Portfolio Mix Telemaketing 2.0% 2021 GI Industry Growth +2.7% Agent 55.4% +3.2% Broker 12.8% Banca 1.9% CIMB -143 Franchise 27.9% CIMB 143 Fire 14.8% Marine 2,356 2,
Slide 15: General Business: higher profit before tax from higher underwriting profit
GENERAL BUSINESS General Business: higher profit before tax from higher underwriting profit Profit Before Tax (RM’ mil) PBT Drivers (RM’ mil) +1.2% 437 432 12M 20 UW result Investment Others 12M 21 12M 2020 236 197 (1) 432 12M 2021 257 182 (2) 437 Change 21 (15) (1) 5 2020 2021 © Copyright Allianz M
Slide 16: General Business: lower combined ratio driven by lower expense ratio
GENERAL BUSINESS General Business: lower combined ratio driven by lower expense ratio Combined Ratio +0.6 pts 94.8% 88.9% 88.4% 90.5% 87.8%* 85.4% 84.2% 87.2% 86.8% 86.4% 19.9% 19.9% 19.8% 18.4% 17.5% 18.7% 17.6% 19.1% 19.9% 21.6% 62.3% 56.3% 55.5% 59.7% 56.6% 54.5% 49.0% 58.1% 55.4% 52.8% 12.6% 13.
Slide 17: General Business value creation for 2022 onwards
GENERAL BUSINESS General Business value creation for 2022 onwards GROWTH MARGIN DIGITALISATION & EFFICIENCY ▪ Expand Distribution Capacity ▪ Underwriting Excellence Automation & Process Efficiency ▪ Strengthen traditional channels ▪ Strengthen portf olio management ▪ Enhance customer & intermediary
Slide 18: Content / topics
Content / topics Group Performance 1 General Business 2 Life Business 3 © Copyright Allianz Malaysia Berhad 18
Slide 19: Allianz Life: growth in ANP driven by all key distribution channels
LIFE BUSINESS Allianz Life: growth in ANP driven by all key distribution channels Annualised New Business 12M 2021 Growth 12M 2020 Growth 5-year CAGR (2016 – 2021) ALIM Industry Market Market ALIM Industry Distribution Channel ALIM Industry (% Growth) (% Growth) Share Rank (% Growth) (% Growth) Agen
Slide 20: Life Business: year-on-year growth driven by single & recurring premium
LIFE BUSINESS Life Business: year-on-year growth driven by single & recurring premium Gross Written Premium (GWP) (RM’ mil) GWP Mix & Growth (%) (12M 2021) Mix Single Premium 17.3% +10.5% 3,259 2,949 Recurring Premium 82.7% 2,706 2,439 Growth 510 553 10.9% 8.5% 2020 2021 Single Premium Recurring Pre
Slide 21: Life Business: growth in ANP driven by all key distribution channels
LIFE BUSINESS Life Business: growth in ANP driven by all key distribution channels Annualised New Premiums (“ANP”) (RM’ mil) ANP Channel Mix (%) (12M 2021) +29.2% 687 Alternative 29 Distribution/ Bancassurance 532 151 22.1% 28 107 Corporate 4.2% 507 397 Agency 73.7% 2020 2021 Agency Bancassurance Em
Slide 22: Life Business (Agency): strong momentum in 2021
LIFE BUSINESS Life Business (Agency): strong momentum in 2021 Agency Annualised New Premiums (“ANP”) (RM’ mil) Agency Product Mix (%) (12M 2021) By ANP By Policy Count +27.8% Traditional Traditional 32.8% 23.5% 507 397 Investment- 166 Investment- Linked Linked 67.2% 76.5% 153 Agency ANP Growth (%) (
Slide 23: Life business delivered stable core profit
LIFE BUSINESS Life business delivered stable core profit Profit before Tax (RM’ mil) +9.9% -28.6% 341 • Focus on healthy and sustainable margins 309 supported by disciplined pricing 68 221 methodologies and sound risk management. 39 -1.0% • Focus on writing more investment-linked protection products
Slide 24: Life Business key strategic initiatives for value creation: 2022 & onwards
© COPYRIGHT ALLIANZ MALAYSIA BERHAD Life Business key strategic initiatives for value creation : 2022 & onwards NEW BUSINESS DEVELOPMENT STRATEGIC VALUE CREATION DIGITALISATION & OPERATIONAL [CAPACITY EXPANSION] [CAPACITY UTILIZATION] EFFICIENCY [PRODUCTIVITY IMPROVEMENTS] Key KPIs : ANP , NBV ,Cust
Allianz Malaysia Berhad — Shareholder Meeting (June 2022) on 6ix