Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Q2 2025 Earnings Presentation
26 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's earnings presentation, 2025
Slide 1: Anadolu Sigorta Investor Presentation 2025
ANADOLU SİGORTA INVESTOR PRESENTATION 2025 Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Market Overview _________________ 3 Company Overview ______________ 8 Financial Highlights _________________ 18 2 Fund Management and Investor Relations Department 2
Slide 3: Market Overview
Market Overview Fund Management and Investor Relations Department 3
Slide 4: Sector Data
Sector Data1 Insurance Market 1H25 Premium Production (TL bn) (TL bn) 738,6 Life 78,5 14% 72% Number of Companies Non Life 50 110% 429,2 Life 19 Non-Life Reinsurance 4 498,3 133% 86% 204,2 Total 73 87,6 99,9 56,7 17,7 30,9 Non-Life Life 2021 2022 2023 2024 Non-Life Life (1) Association of Insurance
Slide 5: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 8.622 Premium Per Premium / GDP 2023 Person 244 (%) (USD) 171 USA 7,7 6.251 146 144 133 5.028 119 UK 3,8 1.840 116 116 117 Switzerland 3,8 3.810 2.394 Poland 1,5 331 868 1033 515 503 611 690 OECD 5,0 2.313 Turkey 1,5 171 2016 2017 2018 2019 2
Slide 6: Non-Life Insurance Market
Non-Life Insurance Market Premium Production1 (TL mn) 6M24 6M25 Y/Y(%) Non-Life - Market Shares Competitor 1 Competitor 1 50.411 72.679 44,2 14,6% Competitor 2 37.946 54.722 44,2 Other 32,2% Anadolu Sigorta 31.545 44.469 41,0 Competitor 2 Competitor 3 25.876 39.622 53,1 11,0% Competitor 4 17.453 25.
Slide 7: Penetration Ratios
Penetration Ratios1 EARTHQUAKE INSURANCE HEALTH INSURANCE • ~20 million houses • 85,6 million Population • 57,3% of houses are insured • 10% of population has health insurance TRAFFIC INSURANCE MOD INSURANCE • 32 million vehicles • 32 million vehicles • 78% of vehicles are insured • 26% of vehicles
Slide 8: Company Overview
Company Overview Fund Management and Investor Relations Department 8
Slide 9: Pioneering Turkish Insurance for a Century
Pioneering Turkish Insurance for a Century • Established in 1925, on the 1949, Karaköy initiative of Mustafa Kemal headquarters Atatürk, founder of Turkish Republic 1956, Computer automation introduced • First national insurance company 1986, First 1987, electronical Initiation of device agricultura
Slide 10: Widespread National Network
Widespread National Network 10 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Konya Antalya Gaziantep Adana 1 Sales Office N. Cyprus 3,103 Professional Agencies 1,009 Isbank Branches ~16% working exclusively with Anadolu Working exclusively with Anadolu Fund Man
Slide 11: Ratings & Certificates
Ratings & Certificates Fitch Fitch National Insurer Financial Strength Insurer Financial Strength SAHA Corporate Governance Rating: AA+(tur) Rating: BB Rating 9,59/ 10 Outlook: Stable Outlook: Stable ISO 9001 ISO 9001 Sustainability Quality Management System Customer Satisfaction Management Sustaina
Slide 12: Shareholder Structure – 1H25
Shareholder Structure – 1H25 Paid-in Capital Stake 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 (30.06.2025) : TL46,5 bn Free float: ~35% Capital (30.06.2025): TL500 mn Fund M
Slide 13: Highlights
Highlights • Real growth: Anadolu 6M25 premium volume is at a strong TL 44,5 bn, (+41%y/y vs. 35% June infl.) Profitability • Real profitability: Trailing Twelve Month solo RoAE stands at 36,4% (Consolidated 49,8%) • Technical profitability supports overall profitability Technical Outlook • Quarterl
Slide 14: Premium Volume and Composition
Premium Volume and Composition OTHER Anadolu Sigorta GWP (TL mn) Non-Life Sector GWP1 (TL mn) 20% MOTOR 37% 6M24 6M25 Y/Y (%) 6M24 6M25 Y/Y (%) ANSGR TL 44,5 bn HEALTH 23% MTPL 5.647 8.016 42,0 92.380 143.916 55,8 FIRE 20% MOD 6.868 8.622 25,5 50.400 65.722 30,4 Fire and 6.724 8.948 33,1 57.845 79.0
Slide 15: Sales Channels
Sales Channels Premium Production – Anadolu Premium Production1 – Sector 50.000 TL mn 600.000 TL mn 45.000 9% 500.000 40.000 11% 16% 35.000 400.000 18% 30.000 10% 13% 16% 12% 25.000 16% 300.000 -1 14% 15% 20.000 200.000 14% 15.000 62% 59% 10.000 60% 100.000 55% 5.000 0 0 6M24 6M25 6M24 6M25 Agency B
Slide 16: Market Share & Rank
Market Share & Rank1 Rank Market Share Market Share BRANCHES 6M25 6M25 6M24 MOD 1 13,1% 13,6% Watercraft 1 26,5% 24,7% Transportation 1 16,0% 15,6% Aircraft 2 12,3% 29,8% Aircraft Liability 2 13,7% 21,4% Accident 2 8,7% 7,2% General Liability 2 12,8% 10,6% Fire 3 11,3% 11,6% General Losses 3 6,2% 6,
Slide 17: Technical Profitability – Long-term Perspective
Technical Profitability – Long-term Perspective Claims Ratio (%) 6M24 6M25 Combined Ratio (%) 6M24 6M25 MOD 57,6% 53,9% MOD 81,6% 83,1% MTPL 98,6% 111,4% MTPL 126,6% 140,3% Fire 44,7% 69,0% Fire 87,9% 122,0% Health 92,8% 84,9% Health 121,6% 108,0% Accident 10,4% 12,1% Accident 72,1% 66,9% General Lo
Slide 18: Financial Highlights
Financial Highlights Fund Management and Investor Relations Department 18
Slide 19: Growth Performance
Growth Performance Total Assets (TL mn) Tech. Reserves (TL mn) 111.881 61.907 96.198 51.342 58.368 35.982 20,6% 16,3% 30.706 20.438 16.776 10.779 2021 2022 2023 2024 6M25 2021 2022 2023 2024 6M25 Assets Under Management (TL mn) Shareholders' Equity (TL mn) 30.656 31.510 63.870 55.524 32.026 15,1% 14
Slide 20: Balance Sheet (TL mn)
Balance Sheet (TL mn) Change Change Assets 1H24 1H25 Liabilities 1H24 1H25 (%) (%) Cash + Marketable Sec. 47.156 72.639 54,0 Technical Provisions 42.315 61.907 46,3 Equity Participations 10.870 6.816 -37,3 Shareholders' Equity 27.109 31.510 16,2 Other Assets 23.488 32.427 38,1 Other Liabilities 12.0
Slide 21: Investment Portfolio
Investment Portfolio Commodity Equity & Venture 11% Bonds Capital 24% 2% In 1H2025: AuM at TL 63,9 bn Investment Income1 TL 9,5 bn Hedge as of 2Q2025 Funds 7% Portfolio Return 17% Short Term Interest Instruments 56% ‣TL 58,5 bn at 1Q2025 (1) Excludes TL 500 mn Anadolu Hayat dividend Fund Management
Slide 22: Strong RoE Generation
Strong RoE Generation 100% 90% 80% 75,2% 70% 64,2% 58,4% 60% 48,5% 49,8% 50% 40% 36,2% 36,4% Given Anadolu’s strong RoE 30% 23,9% 24,5% performance, Anadolu Sigorta trades at 17,4% 20% undemanding P/B valuations both in relative and absolute terms, 10% 0% 2021 2022 2023 2024 6M25-TTM RoAE - Solo RoA
Slide 23: Income Statement – 2Q25 (TL mn)
Income Statement – 2Q25 (TL mn) Q/Q Y/Y 2Q24 1Q25 2Q25 Q/Q Y/Y Income Statement 2Q24 1Q25 2Q25 (%) (%) (Cons.) (Cons.) (Cons.) (%) (%) Tech. Income (1) 9.901 13.025 15.427 18 56 9.901 13.025 15.427 18 56 Tech. Expenses -10.093 -14.392 -16.762 16 66 -10.093 -14.392 -16.762 16 66 Net Financial Inc. +
Slide 24: Income Statement - 6M25 (TL mn)
Income Statement - 6M25 (TL mn) 6M24 6M25 P&L 6M24 6M25 Y/Y (%) Y/Y (%) (Cons.) (Cons.) Tech. Income (1) 19.021 28.452 50 19.021 28.452 50 Tech. Expenses -19.244 -31.154 62 -19.244 -31.154 62 Net Financial Inc. + Other Exp. (2) 7.124 8.963 26 7.368 8.968 22 Gross Profit 6.901 6.261 -9 7.145 6.266 -1
Slide 25: Disclaimer
Disclaimer 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 meaning. These
Slide 26: Thanks
THANKS Fund Management and Investor Relations Department 26