Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — SpareBank 1 Gruppen — Q3 2013 Earnings Presentation
27 slides from Sparebank 1 Ostlandet's earnings presentation, Oct 24, 2013
Slide 1: Presentation Q3 2013 SpareBank 1 Gruppen
Presentation Q3 2013 SpareBank 1 Gruppen 24 October 2013 - Kirsten Idebøen, Idebøen CEO
Slide 2: Key figures
Key figures Pre-tax profit for the quarter (MNOK)* Pre-tax profit for the year-to-date (MNOK)* 1,216 529 376 320 676 706 325 -8 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 2010 2011 2012 2013 2010 2011 2012 2013 Annualised return on equity (%) Capital adequacy ratio as of the end of the quarter (%) 20.5 16 7 16.7 14.6
Slide 3: Solid improvement in the overall business result compared with last year
Solid improvement in the overall business result compared with last year 814 YTD 2012 YTD 2013 486 421 380 31 21 7 0 nt C Insurance e Forvaltning g e insurance e siness area a eceivables s business area a anagemen ODIN Re ma F bus P&C Life 3
Slide 4: Insurance business area
Insurance business area Record profits for insurance 4
Slide 5: Low claims ratio and good profitability
Insurance business area (life and P&C combined) Low claims ratio and good profitability Gross combined ratio - Risk insurance for the quarter (%) Combined ratio risk insurance 94.5 95.2 93.9 92 7 92.7 95.5 89 1 89.1 14.1 83.4 82.6 As of Q3 2013 H1 2013 21.7 17.3 19.1 19.1 24.8 18.5 20.1 67.8 78.0% 8
Slide 6: SpareBank 1 Forsikring AS: profit improvement and solid buffers
SpareBank 1 Forsikring AS (life insurance business) P fit improvement Profit i t and d solid lid buffers b ff Pre-tax profit for the quarter (MNOK) Buffer capital trend, per quarter (%) 202 17.8 16 3 16.3 15.5 14.8 14.8 13.6 12.8 145 147 137 99 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012 2012 2012 2012 2013 2013 2013
Slide 7: SpareBank 1 Skadeforsikring Group: increased profitability
SpareBank 1 Skadeforsikring Group (P&C insurance business) Process iimprovements, P t better b tt risk i k composition iti and d run- off gains contribute to increased profitability Pre-tax profit for the quarter (MNOK) Actual effects of P&C costs project (MNOK) 376 175 169 158 135 141 140 265 124 1
Slide 8: ODIN Forvaltning AS
ODIN Forvaltning AS Increased total assets and costs reducing measures contributed to improved result 8
Slide 9: ODIN Forvaltning: improved result
ODIN Forvaltning Increased total assets and costs reducing measures contributed to improved result Pre-tax Pre tax profit for the quarter (MNOK) Return on equity funds for the year year-to-date to date (%) Fund Benchmark 15.0 41.9 37.5 36.0 36.0 35.0 32.9 29..6 28.1 27.7 27.5 27.0 26.6 25.3 23.0 8.4
Slide 10: Receivables management
Receivables Good earnings in factoring and portfolio, deficit management in debt collection business 10
Slide 11: Good earnings in factoring and portfolio, deficit in debt collection
Receivables management Good earnings in factoring and portfolio, portfolio deficit in debt collection business Pre-tax profit for the year-to-date (MNOK) 8 • Factoring and Portfolio - Income growth due to higher lending volume and client turnover 5 - Greater portfolio volume and good collection 4 4
Slide 12: Best when it comes to return on equity
Best when it comes to return on equity Average 2010- 2010 Q3 2013 2012 SpareBank 1 Gruppen 20.5% 12.8% Handelsbanken 14.2% 13.8% Gjensidige 13.3% 14.2% Storebrand 12.9% 8.1% DNB 12.1% 12.2% Nordea 11.2% 11.5% Danske Bank N/A 2 9% 2.9% Source: The companies' financial statements. Return on equity aft
Slide 13: Thank you for your time!
Thank you for your time! Kirsten Idebøen 13
Slide 14: Appendix
Appendix pp
Slide 15: The SpareBank 1 Alliance business model
The SpareBank 1 Alliance has a solid business model with its proximity to its customers and a conservative risk profile Shareholders and distributors SamSpar 19.5% 19.5% 19.5% 12% 19.5% 10% Products, commissions and Products dividend Sales SpareBank 1 Gruppen AS BN Bank Bank 1 Oslo Akershus SpareBan
Slide 16: Results Year to date 2013
SpareBank 1 Gruppen R Results l Year Y to date d 2013 Q3 Year to date Figures in MNOK 2013 2012 2013 2012 Part of result from subsidiaries before tax p -SpareBank 1 Forsikring g AS 201.7 144.6 486.2 380.4 -SpareBank 1 Skadeforsikring Group 376.0 185.0 814.4 421.0 -ODIN Forvaltning AS 15.0 1.9 31.1 0
Slide 17: Key figures
SpareBank 1 Gruppen K figures Key fi Q3 Q2 Q1 Q4 Q3 Q2 Q1 Year 2013 2013 2013 2012 2012 2012 2012 2012 Group Net result for the period (MNOK) 418.2 87.1 315.0 -47.6 227.7 63.4 199.9 443.4 Annualised return on equity (%) 20.5 % 15.6 % 23.1 % 8.7 % 12.7 % 10.5 % 15.9 % 8.7 % Capital adequacy ratio, ac
Slide 18: Quarterly results
SpareBank 1 Gruppen Quarterly results Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Figures in MNOK 2013 2013 2013 2012 2012 2012 2012 2011 2011 2011 2011 2010 2010 Part of result from subsidiaries before tax - SpareBank 1 Forsikring 201.7 137.0 147.4 99.0 144.6 141.8 94.1 98.1 77.7 109.0 129.4 72.5 85.8 -
Slide 19: SpareBank 1 Forsikring AS results year to date 2013
SpareBank 1 Forsikring AS R Results lt year to t ddate t 2013 Q3 Q2 Q1 Q3 Year to date Year Figures in MNOK 2013 2013 2013 2012 2013 2012 2012 Insurance risk income 431 1 431.1 453 1 453.1 430 1 430.1 380 6 380.6 1 314.2 314 2 1 110.9 110 9 1 613.3 613 3 Insurance risk claims -323.8 -343.6 -334.4 -2
Slide 20: Results per portfolio year to date 2013
SpareBank 1 Forsikring AS R Results lt per portfolio tf li year to t date d t 2013 Previously y Group established Investment choice Company Figures in MNOK portfolio individual products portfolio portfolio Total Risk result 295.5 -3.0 -0.7 0.0 291.9 Administration result 35.9 -19.8 -18.2 0.0 -2.1 Ne
Slide 21: Development of premium income
SpareBank 1 Forsikring AS D Development l t off premium i income i Q3 Q2 Q1 Q3 Year to date Year Figures in MNOK 2013 2013 2013 2012 2013 2012 2012 Individual annuity and pension insurance 84.8 81.4 79.8 79.6 246.0 224.3 325.3 Individual endowment insurance 164.6 159.8 155.6 154.1 480.0 452.2 607.7
Slide 22: Return on customer portfolios with a guarantee
SpareBank 1 Forsikring AS Return on customer portfolios with a guarantee as at 30/09/2013 Value-adjusted return Booked return: excl. change in value construction : Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 2013 5.9 3.9
Slide 23: Return on ordinary customer portfolio with guarantee
SpareBank 1 Forsikring AS Return on ordinary customer portfolio with guarantee as at 30/09/2013 Percent Norwegian shares 14.0 Foreign shares 23.5 Money market 20 2.0 Norwegian bonds 3.7 Foreign bonds -0.6 Held to maturity 3.8 Real estate 5.7 23
Slide 24: Balance sheet as of 30/09/2013
SpareBank 1 Forsikring AS Balance sheet as of 30/09/2013 Year to date Year Figures in MNOK 2013 2012 2012 Intangible assets 194 138 165 Investments 3 513 3 109 3 140 Reinsurance's part of insurance obligations 223 206 213 Accounts receivable 102 75 105 Other assets 134 170 128 Prepayed liabilities a
Slide 25: Asset allocation per portfolio
Asset allocation p per p portfolio f as off 3 30/09/2013 / 9/ 3 (31/12/2012) SB1 Skadeforsikring SB1 Forsikring AS Group I Investment choice h portfolio f l G Group portfolio f li Company portfolio 12.8 (12.6) % 0.2 (0.2) % 9.3 (8.2) % 11.0 (10.1) % 40.9 (39.2) % 0.6 ((0.7)) % 18 1 (18 18.1 (18.4) 4
Slide 26: Skadeforsikring Group results year to date 2013
SpareBank 1 Skadeforsikring Group Results year to date 2013 Q3 Q2 Q1 Q3 Year to date Year Figures in MNOK 2013 2013 2013 2012 2013 2012 2012 Gross written premium 1 154.0 1 370.8 1 612.9 1 172.6 4 137.7 4 316.8 5 600.4 Net earned premium 1 211.3 1 174.0 1 193.1 1 287.9 3 578.5 3 779.7 5 073.1 Net in
Slide 27: ODIN Forvaltning results year to date 2013
ODIN Forvaltning Results year to date 2013 Q3 Q2 Q1 Q3 Year to date Year Figures g in MNOK 2013 2013 2013 2012 2013 2012 2012 Management fees 74.5 69.2 66.7 64.0 210.3 194.6 257.1 Total operating income 74.5 69.2 66.7 64.0 210.3 194.6 257.1 Salaries -28.7 -29.2 -23.7 -24.8 -81.6 -75.3 -110.1 Depreci