Agesa Hayat Ve Emeklilik A.s. · BIST:AGESA
Agesa Hayat Ve Emeklilik A.s — Q1 2025 Earnings Presentation
16 slides from Agesa Hayat Ve Emeklilik A.s's earnings presentation, Apr 30, 2025
Slide 1: AGESA 1Q25 Financial Results
AGESA 1Q25 FINANCIAL RESULTS April 30, 2025 Şirkete Özel
Slide 2: Summary and Outlook
Summary and Outlook Leadership position in both Pension AuM and Life & PA premium production among private companies thanks to significant growth across all channels and product lines. Q1 2025 Performance Strengthened fundamentals Future • #1 position in Private Pension AuM among private • Strong an
Slide 3: Evolution of Our Strong Performance: Core Business
Evolution of Our Strong Performance Core Business CAGR Inf. 21-24: 61% robust growth with new participants and returns strong growth in terms of GWP with strong and increased focus on pension, ~1 million new diversified products customers Pension AuM, Total GWP, Total Customer exc. Credit Linked, #
Slide 4: Evolution of Our Strong Performance: Profitability
Evolution of Our Strong Performance Profitability CAGR Inf. 21-24: 61% robust growth fueled by solid technical IFRS Net Profit Local Net Profit (Management Reporting, TL mn) (TL mn) CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: 95% 60% 86% 66% Management Reporting: IFRS Financials excluding inflation
Slide 5: Evolution of Our Strong Performance: Operational Profitability
Evolution of Our Strong Performance Operational Profitability CAGR Inf. 21-24: 61% Technical Profit G&A, Expense Ratio Net Technical Profit (TL mn) (TL mn, %) (TL mn) CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: 87% 80% 87% 62% 86% 105% Expense ratio=(G&A)/(Management Reporting
Slide 6: Technical Profits - Major Business Lines
Evolution of Our Strong Performance Technical profits - Major Business Lines CAGR Inf. 21-24: 61% Pension Credit Life RoP & Savings (TL mn) (TL mn) (TL mn) CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: 94% 62% 93% 116% 80% 62% Management Şirkete Özel Reporting: IFRS Financials ex
Slide 7: Pension
Pension Sustainable Growth and Scaling Ambitions CAGR Inf. 21-24: 61% Pensions AuM including State Contribution Private Pension Fund Mix (TL mn) CAGR 21-24: YoY 1Q25: 74% 52% 261,637 228,335 141,528 75,640 220,328 253,039 253 43,502 72,758 136,681 bTL 42,094 2021 2022 2023 2024 1Q25 AE AuM 1.408 2.8
Slide 8: Credit Linked and RoP&Savings Life
Credit Linked and RoP&Savings Life Sustainable Growth Model Fueled by Multidistribution Channel Structure CAGR Inf. 21-24: 61% Credit Linked GWP RoP&Savings B/S Asset Volume (TL mn) (USD mn) CAGR 21-24: YoY 1Q25: CAGR 21-24: YoY 1Q25: 99% 46% 24% 54% 689 650 7,424 545 105 521 100 61 69 362 3,560 289
Slide 9: Solid and Resilient Technical Profitability with Operating Leverage Potential
Solid and Resilient Technical Profitability with Operating Leverage Potential CAGR Inf. 21-24: 61% Technical Profit & G&A Expense Ratio (TL mn) (%) 46.0% 45.4% 47.0% 42.7% 41.3% CAGR 21-24: YoY 1Q25: 87% 80% 2021 2022 2023 2024 1Q25 CAGR 21-24: 7,496 YoY 1Q25: Expense ratio=(Opex)/(Management Report
Slide 10: Prudent Though Opportunistic Approach on Investments
Prudent Though Opportunistic Approach on Investments CAGR Inf. 21-24: 61% Investment and Other Income Shareholders’ Asset (TL mn) Portfolio 1Q25 CAGR 21-24: YoY 1Q25: 110% 39% Total: 7.933mTL Derived from IFRS. differs from PL “Total Investment Income & Other” line excluding financial and other expe
Slide 11: Robust Capital Management
Robust Capital Management CAGR Inf. 21-24: 61% Shareholders’ Equity & RoE Solvency Dividend payment (TL mn, %) (%) (TL mn) CAGR 21-24: YoY 1Q25: YoY 1Q25: 79% 70% 233% Management Şirkete Özel Reporting: IFRS Financials excluding inflation accounting effect. 11 Both Agesa Management reporting and SFR
Slide 12: Summary P&L from Segmental Reporting
Summary P&L from Segmental Reporting (1) (TL mn) 1Q24 1Q25 YoY 105% growth in net technical profit, after G&A expenses and 60% growth in net Credit-Linked Life 1,682 2,455 46% profit. RoP & Savings 1,392 2,148 54% Other Life & Personal Accident 143 212 48% Total Gross Written Premium 3.218 4.815 50%
Slide 13: Solvency II Value of New Business
Solvency II Value of New Business Şirkete Özel
Slide 14: Diversified business model supporting value growth
Diversified business model supporting value growth Solvency II w/RW Total Pension Credit-Linked ROP&Savings Other Life&PA 2024 Q1 2025 Q1 Q125 Q125 Q125 Q125 30 % PVNBP (m TL) 23,440 30,383 22,062 2,753 5,335 234 72 % VNB (m TL) 1,170 2,009 187 773 980 69 29.4% 28.1% 18.4% 6.6% New Business 0.8% 5.0
Slide 15: Disclaimer
Disclaimer The information in this presentation has been prepared by AgeSA Hayat ve Emeklilik A.Ş. (the “Company”) solely for use at a presentation concerning the Company, its proposed listing on the Borsa İstanbul. This presentation does not constitute or form part of, and should not be construed a
Slide 16: Thank you
Thank you Şirkete Özel
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