ASR Nederland N.V. · EURONEXT:ASRNL
ASR Nederland — Investor Presentation (June 2018)
11 slides from ASR Nederland's investor presentation, Jun 28, 2018
Slide 1: Integration Generali NL ahead of plan
Integration Generali NL ahead of plan Karin Bergstein, COO Chris Figee, CFO 28 June 2018
Slide 2: Key messages
Key messages Operational integration Financial targets Delivering on ahead of plan on track original investment case 2
Slide 3: Our commitment in September 2017
Our commitment in September 2017 Transaction highlights Generali Nederland – Overview** Combined – Business mix (pro forma) • Bolt-on acquisition in line with a.s.r.’s GWP 2017 € 409m strategy and commitment to deploy Non-life: € 2,892m GWP in 2017* capital for sustainable value creation. Compelling
Slide 4: What has been achieved so far
What has been achieved so far 13 Sep 2017 Signing 5 Feb 2018 Closing Reporting lines directly into a.s.r. Transfer of investment portfolio 1 May 2018 Organisational integration co-assurance portfolio of GNL into Corins 7 May 2018 Legal merger holding companies 1 Jun 2018 GNL employees relocated to a
Slide 5: Majority of portfolios to be migrated before mid 2019
Majority of portfolios to be migrated before mid 2019 GWP • a.s.r.’s system and platform is the target operating model for all portfolios Funeral • Funeral integration finalised on 1 July, well ahead of €16 mln expectation (end of 2018) Co assurance portfolio • P&C: Co-assurance already operationall
Slide 6: Strong progress on headcount reduction
Strong progress on headcount reduction Total workforce (# employees) • Total GNL workforce decreased from 312 to 187 employees (1/6), including the impact of 99 employees 352 who opted for the social plan 312 • Expectation is that the number of former GNL employees, employed by a.s.r., will be <150
Slide 7: Taking control of the business, the in-force book and sales
Taking control of the business, the in-force book and sales P&C Disability Individual life • Price increases (mandated broker and • Visited all brokers and informed them • Preparation of product analysis for start of motor) and termination of structurally loss- about migration of portfolio. New migr
Slide 8: Capital deployment and investment case conform plan with further upside potential
Capital deployment and investment case conform plan with further upside potential Actual impact (in € mln) • Impact (pro-forma) of 9%pts SII after closing and legal merger Net capital injection according to plan. Underlying movements: • Increased prudency reserving motor and disability 80 within Non
Slide 9: Key take-aways
Key take-aways • Operational migration and integration is first priority and key driver for future performance and realisation of synergies e.g.: ‒ Full control of the business from date of closing ‒ Underwriting on a.s.r. standards and processes ‒ Legal mergers accomplished ahead of plan ‒ Integrat
Slide 10: IR contact details
IR contact details Email: ir@asr.nl Michel Hülters +31 (0)6 15 49 95 69 Barth Scholten +31 (0)6 30 44 15 71 Vincent Uriot +31 (0)6 10 44 82 34 10
Slide 11: Disclaimer
Disclaimer Cautionary note regarding forward-looking statements laws or regulations and/or changes in the interpretation thereof, including without limitation Solvency II, IFRS and taxes; (17) changes in the policies of governments and/or regulatory or The terms of this disclaimer ('Disclaimer') app