Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — Merger or Acquisition (August 2020)
13 slides from Icici Lombard General Insurance's merger presentation, Aug 22, 2020
Slide 1: Intimation of Analysts Meeting
Ref. No.: MUM/SEC/124-08/2021 August 22, 2020 To, The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot C/1 Dalal Street G Block, Bandra Kurla Complex, Mumbai – 400 001 Mumbai – 400
Slide 2: Conference call invitation on the scheme of arrangement
The Management of ICICI Lombard General Insurance Company Limited Invites you “To discuss the scheme of arrangement between ICICI Lombard General Insurance Company Limited and Bharti AXA General Insurance Company Limited” Day/Date: Saturday, August 22, 2020 Time: 17:00 hrs IST Option 1- Direct Call
Slide 3: ICICI Lombard & Bharti AXA GI Proposed Demerger Update
ICICI Lombard & Bharti AXA GI Proposed Demerger Update August 22, 2020
Slide 4: Proposed Transaction & Rationale
Proposed Transaction & Rationale ICICI Lombard and Bharti AXA General Insurance have entered into definitive agreements wherein the general insurance business of Bharti AXA GI would be demerged into ICICI Lombard 1 2 3 Strategic Business Synergy 2
Slide 5: Fast growing quality franchise of meaningful scale
Fast growing quality franchise of meaningful scale GDPI (₹ bn) Product Mix (FY2020) Distribution Mix (FY2020) 7.4% 7.1% 8.8% 31.34 5.3% 5.6% 22.58 19.7% 34.4% 26.4% 17.54 13.14 27.8% 45.9% 11.6% Fire Motor TP Ind agents CA - Banks FY2017 FY2018 FY2019 FY2020 Motor OD Health CA - Others Brokers Crop
Slide 6: Consolidation of market position and distribution franchise
Consolidation of market position and distribution franchise Basis FY2020 figures Combined Bharti AXA GI ICICI Lombard Entity(1) GDPI (Market share) ₹ 31.34 bn (1.7%) ₹ 133.13 bn (7.0%) ₹ 164.47 bn (8.7%) Ranking (basis GDPI) #17 #5 #3 Motor GDPI (Market share) ₹ 14.87 bn (2.2%) ₹ 67.88 bn (9.8%) ₹ 8
Slide 7: Value creation through revenue synergies
Value creation through revenue synergies Bharti AXA GI ICICI Lombard GI • Partnerships with large retail lending • Experience of partnering with large Significant Banca platforms (private banks & NBFCs) private banks such as ICICI Bank runway for tie-ups • Current focus on motor insurance; • Deeper
Slide 8: Key Financial Metrics
Key Financial Metrics Basis FY2020 figures Combined Bharti AXA GI ICICI Lombard Entity(1) GDPI ₹ 31.34 bn ₹ 133.13 bn ₹ 164.47 bn Investment Book ₹ 47.65 bn ₹ 263.27 bn ₹ 310.92 bn Loss Ratio 78.3% 72.8% 73.7% Opex + Comm. Ratio 42.1% 27.6% 30.1% Combined Operating Ratio 120.4% 100.4% 103.8% Signifi
Slide 9: Transaction Structure
Transaction Structure • On August 21, 2020, the boards of ICICI Lombard and Bharti AXA GI have approved demerger of Non-Life Insurance business of Bharti Bharti AXA GI (along with all assets and AXA GI liabilities forming part thereof) into ICICI ICICI Lombard GI Lombard Business • Shareholders of B
Slide 10: Next steps
Next steps Date of Announcement 21 August 2020 Regulatory NCLT Filings & Board Filings & Filings & Share Approval Approvals Approval Issuance • Valuation / Swap • In-Principle IRDAI • Filing of scheme • Final IRDAI approval Ratio approval • NCLT approval; and ROC Filing • Approval of • SEBI and Stoc
Slide 11: List of Advisors
List of Advisors Category Area Advisor Advisors M&A Ernst & Young LLP (EY) Legal AZB & Partners (AZB) Tax Ernst & Young LLP (EY) Due Diligence Actuarial Willis Towers Watson Actuarial Advisory LLP (WTW) Financial & Tax Deloitte Touche Tohmatsu India LLP (Deloitte) Valuers CA Firm MSKA & Associates M
Slide 12: Thank you
g icici E Lombard Thank you
Slide 13: Safe Harbor
Safe Harbor Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' , 'would' , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These for
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