Zurich Insurance Group Ltd · SIX:ZURN

Zurich Insurance — FY2015 Earnings Presentation

19 slides from Zurich Insurance's earnings presentation, Feb 11, 2016

  1. Slide 1: Annual results 2015

    Annual results 2015 Media presentation February 11, 2016 Zurich Insurance Group

  2. Slide 2: Tom de Swaan, Chairman and Chief Executive Officer a.i.

    Tom de Swaan Chairman and Chief Executive Officer a.i.

  3. Slide 3: Key financials

    Key financials Disappointing ROE, strong Z-ECM and cash remittances FY-15 KEY RESULTS TARGET METRICS OVER STRATEGIC PERIOD FY-15 Target BOP BOPAT ROE1 6.4% 12 - 14% USD 2.9bn (-37%) Q3-15 Target Z-ECM2 114% 100 – 120% NIAS Cumulative FY-15 Net cash 3-year target USD 1.8bn (-53%) remittances USD 3.9b

  4. Slide 4: George Quinn, Chief Financial Officer: Financial Highlights

    George Quinn Chief Financial Officer Financial Highlights

  5. Slide 5: Group – Business Operating Profit

    Group – Business Operating Profit Disappointing GI results, other businesses on track BOP BY SEGMENT (USDm)1 BOP TO NIAS WALK (USDm) -37% 4,680 4,638 1,113 -48% -865 887 812 324 2,859 2,979 736 2,916 511 -1,183 864 422 -32 205 294 308 299 1,272 1,273 1,300 2,916 36.6% tax rate 408 420 351 1,842 1,51

  6. Slide 6: Farmers – KPIs

    Farmers – KPIs Stable FMS results, Farmers Re results down due to higher CR BOP (USDm) MGEP MARGIN (%)1 FARMERS RE CR (%)2 1’573 7.2% 7.2% 101.2% 1’516 100.2% 1’421 7.1% 98.3% 5.3% 5.6% 4.9% 1'383 1'390 1'360 94.6% 95.9% 93.4% 125 190 61 FY-13 FY-14 FY-15 FY-13 FY-14 FY-15 FY-13 FY-14 FY-15 Catastro

  7. Slide 7: Group – Balance sheet and capital

    Group – Balance sheet and capital Strong capital position across all metrics SHAREHOLDERS’ EQUITY (USDm) SOLVENCY RATIOS (%) 34,735 217% 196% 203% -2,705 1,842 -1,524 127% 122% 123% 114% -2,012 31,178 842 FY-14 Dividend1 NIAS Net CTA (excl. Pension FY-15 Z-ECM SST3 URG/L Dividend) plans & other2 FY-

  8. Slide 8: Group – Cash remittances & dividend proposal

    Group – Cash remittances & dividend proposal Overall good cash remittance, dividend maintained NET CASH REMITTANCES (USDbn) CUMULATIVE DIVIDEND (USDbn)1 3.7 3.9 19.8 2.9 17.3 1.7 2.4 14.6 2.4 0.9 11.8 0.9 0.6 1.5 9.1 1.2 0.9 0.1 0.5 6.3 -0.6 -1.1 -1.0 3.6 FY-13 FY-14 FY-15 1.4 2008 2009 2010 2011 20

  9. Slide 9: Kristof Terryn, CEO General Insurance

    Kristof Terryn CEO General Insurance

  10. Slide 10: General Insurance – Combined ratio

    General Insurance – Combined ratio Poor results in Global Corporate COMBINED RATIO SPLIT (%)1 COMBINED RATIO BY REGION (%)1 103.6% 98.0% 96.8% 3.2% 3.5% 0.9% 2.3% 113.9% GC 95.7% 98.2% NAC 96.5% 101.3% EMEA 97.2% 95.6% 99.1% 95.1% 103.3% IM 104.6% 103.6% Total 96.8% -2.4% -1.1% 0.1% 80% 85% 90% 95%

  11. Slide 11: General Insurance – Status update

    General Insurance – Status update 2015 results driven by combination of factors KEY FACTORS  Growing in a softening market – e.g. in Global Corporate in North America  Execution of planned portfolio actions not delivered consistently  Growing interconnectivity of risk not sufficiently accounted f

  12. Slide 12: General Insurance – Focus in 2016

    General Insurance – Focus in 2016 It will take time to adjust, but early signs for 2016 are positive ADDRESSING KEY ISSUES TIERING AND RATE INCREASES  Prioritizing technical excellence by:  Encouraging results from rate in Global – Reinforcing underwriting culture by Corporate in Europe emphasizin

  13. Slide 13: Gary Shaughnessy, CEO Global Life

    Gary Shaughnessy CEO Global Life

  14. Slide 14: Report card – Global Life

    Report card – Global Life On track to deliver sustainable BOP improvement INVESTOR DAY BUCKETS (USDm)1 MANAGE FOR VALUE APE NBV BOP 1,478  Exit of annuity book in UK 5,203 5,544 965 1,031 100  Beginning to see BOP uplift from in-force 344 55 1,273 367 77 100 280 management actions 1,604 235 1,865

  15. Slide 15: Tom de Swaan, Chairman and Chief Executive Officer a.i.

    Tom de Swaan Chairman and Chief Executive Officer a.i.

  16. Slide 16: Factors influencing 2016

    Factors influencing 2016 General  OUE ratio expected to be broadly stable  Significant improvement in loss ratio, weighted to second half Insurance  Lower volatility, in part due to greater tactical use of reinsurance  Continued growth and investment in Bancassurance and CLP Global Life  Expect

  17. Slide 17: Disclaimer and cautionary statement

    Disclaimer and cautionary statement Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives of Zurich Insurance Group Ltd or the Zurich Insurance Group (the ‘Group’).

  18. Slide 18: For further information

    For further information CONTACT US VISIT OR FOLLOW US Media Relations Maeve Gallagher Sylvia Gäumann Roman Hess Frank Keidel Riccardo Moretto Pavel Osipyants Phone +41 (0)44 625 21 00 Email media@zurich.com www.zurich.com Website www.zurich.com Twitter @Zurich Download: Zurich Investors and Media Ap

  19. Slide 19: Calendar 2016

    Calendar 2016 March 4 Publication of Annual Report and invitation to Annual General Meeting 2016 March 30 Annual General Meeting 2016, Zurich May 12 Results for the three months to March 31, 2016 August 11 Half year results 2016 November 10 Results for the nine months to September 30, 2016 December

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