Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Investor Presentation (June 2021)
30 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's investor presentation, Jun 30, 2021
Slide 1: Investor Presentation 30.06.2021
INVESTOR PRESENTATION 30.06.2021
Slide 2: Content
Company & Market Potential 3 Company Overview 10 CONTENT Financial Highlights 21 2
Slide 3: Company & Market Potential
Company & Market Potential Company Overview Financial Highlights 3
Slide 4: Sector Data
Sector Data Number of Companies 21M6 (bn TRY) Non Life 42 Life 21 Reinsurance 4 18% Life; Total 67 7,69; 16% Number of 20% Foreign Shared Companies Non Life 22 Life 18 Non-Life; 39,42; Reinsurance 1 84% Total 41 Non-Life Life ➢ SOURCE: Association of Insurance Companies, SEDDK 4
Slide 5: Mandatory Policies in Turkey FY20
Mandatory Policies in Turkey FY20 EARTHQUAKE TRAFFIC • 18 million houses • 23.9 million vehicles • 43% of houses are non-insured • 39% of vehicles are non-insured ➢ SOURCE: DASK, Insurance Information and Monitoring Center 5
Slide 6: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person Premium / GDP Premium Per Person 2019 690 (%) ($) 611 USA 7,43 4.854 515 503 UK 4,16 1.759 386 326 Switzerland 5,61 4.597 313 230 Poland 1,89 296 215 129 147 140 132 146 133 OECD 4,69 1.850 114 116 116 Turkey 1,27 116 2011 2012 2013 2014 2015
Slide 7: Non-Life Top 5 Companies Market Share Trend
Non-Life Top 5 Companies Market Share Trend 16% 14% Türkiye Anadolu 12% Allianz 10% 8% Aksigorta 6% Axa 4% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 21Q2 Allianz Anadolu Aksigorta Axa Türkiye ➢ Note: Data of Türkiye Sigorta before 2020 has created by consolidating Güneş, Ziraat and Halk insu
Slide 8: Top 10 Non-Life Companies in the Sector – 21Q2
Top 10 Non-Life Companies in the Sector – 21Q2 Production Share by Companies Premium Premium Change Türkiye (₺ Mn) Production Production (%) 14% 20M6 21M6 Other Türkiye 4.642 5.414 16,6 30% Anadolu 3.837 4.802 25,1 Anadolu 12% Allianz 3.815 4.507 18,1 Aksigorta 2.266 3.000 32,4 Axa 2.138 2.393 11,9
Slide 9: Premium Production 21Q2
Premium Production 21Q2 Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 20M6 21M6 ΔYoY (%) 20M6 21M6 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 995 1.188 19,4 9.466 10.106 6,8 MOD 661 798 20,7 4.629 5.964 28,8 Fire and Nat. D. 722 981 35,8 4.927 6.170 25,2 Health 514 617 20,1 5.378 6.424 19,5
Slide 10: Company Overview
Company & Market Potential Company Overview Financial Highlights 10
Slide 11: History
• Founded by Mustafa Kemal Atatürk in 1925 CONTENT • First national insurance company HISTORY • Main activity: Non-life insurance (until 1991, both life and non-life) • group company
Slide 12: Distribution Channels – FY20
Distribution Channels – FY20 9 Regional Branches İstanbul (2) Samsun Bursa Trabzon İzmir Ankara 1 Overseas Branches Gaziantep Antalya Adana 1 Sales Office N. Cyprus 2.473 Professional Agencies 1227 Işbank Branches ~25% working exclusively with Anadolu Working exclusively with Anadolu 12
Slide 13: Distribution Channels 21Q2
Distribution Channels 21Q2 Premium Production – ANSGR Premium Production – Sector +25% +20% 5.000 40.000 Milyonlar 4.500 14% 14% 35.000 4.000 12% 16% 15% 30.000 3.500 14% 12% 12% 25.000 15% 15% 3.000 +1 11% +1 2.500 20.000 14% 2.000 15.000 +2 1.500 -1 62% 56% 63% 10.000 1.000 54% 5.000 500 TRY mn 0
Slide 14: Production by Regions – FY20
Production by Regions – FY20 Marmara 53% Black Sea 6% Middle Anatolia East Anatolia 17% 3% Aegean 10% South East Anatolia 3% Mediterranean 8% 14
Slide 15: Market Share & Rank (TRY mn)
Market Share & Rank (TRY mn) Rank Market Share BRANCHES 20M6 21M6 Growth 21M6 21M6 MTPL 995 1.188 1 11,8% 19,4% MOD 661 798 1 13,4% 20,7% General Liability 199 213 1 14,6% 7,3% Watercraft 94 152 1 32,5% 62,4% Aircraft 69 74 1 56,4% 7,4% Aircraft Liability 34 51 1 55,3% 48,9% Fire 722 981 2 15,9% 35,
Slide 16: Profitability Combined Ratio
Profitability Combined Ratio Combined Ratio 20M6 21M6 MOD 84,8% 97,9% MPTL 100,0% 126,9% Fire 112,0% 116,8% Health 99,5% 109,8% Accident 53,8% 64,4% General Liability 255,7% 416,9% General Losses 100,2% 100,3% Total 104,2% 115,9% 113% 111% 116% 106% 10% 13% 10% 13% 8% 14% 14% 14% 90% 84% 82% 91% 201
Slide 17: Company Profile
Company Profile ISO 9001 Quality ISO 10002 Customer Sustainability Report 2020 is Management System Satisfaction published and certified by Certification Management System GRI Standards Certification 17 17
Slide 18: Sustainability
Sustainability • We have significantly reduced energy consumption, CO2 emissions and paper consumption in the past years. Greenhouse Gas Emissions Per Employee (TCO2E / Person) Total paper consumption (tons) Paper consumption per capita (kg/person) One aspect of our approach to combating climate cha
Slide 19: Company Ratings
Company Ratings Fitch Fitch SAHA Corporate Governance Insurer Financial Strength National Insurer Financial Rating: 9.55 / 10 Rating: BB Strength Outlook: Stable Rating: AA+(tur) Outlook: Stable 19 19
Slide 20: Shareholder Structure – 21Q2
Shareholder Structure – 21Q2 Milli Reasürans Türk Anonim Şirketi 286.550.106 57,3% Trakya Yatırım Holding A.Ş. 35.014.061 7,0% QİNVEST Portföy 25.062.000 5,0% Other 153.373.833 30,7% Total 500.000.000 100,0% IPO rate: ~48% Mcap (30.06.2021): ₺3,05 Bn Free float: ~35% Capital (30.06.2021): ₺500 Mn ➢
Slide 21: Financial Highlights
Company & Market Potential Company Overview Financial Highlights 21
Slide 22: Growth Performance
Growth Performance Total Assets (mn TRY) (*) Tech. Reserves (mn TRY) 8.808 13.991 7.774 12.076 15,9% 6.212 13,3% 9.767 5.184 7.904 4.456 7.032 2017 2018 2019 2020 21M6 2017 2018 2019 2020 21M6 Assets Under Management (mn TRY) (*) Shareholders' Equity (mn TRY) 8.254 7.324 2.903 2.810 5.894 12,7% 2.15
Slide 23: Balance Sheet (₺ mn)
Balance Sheet (₺ mn) Change Change Assets 06.20 06.21 Liabilities 06.20 06.21 (%) (%) Cash + Marketable Sec. 7.166 9.314 30,0 Technical Provisions 6.978 8.808 26,2 Equity Participations 628 757 20,5 Shareholders' Equity 2.390 2.903 21,5 Other Assets 3.185 3.920 23,1 Other Liabilities 1.611 2.280 41,
Slide 24: Solo & Consolidated Figures (mn TRY)
Solo & Consolidated Figures (mn TRY) 600 30,0% 27,4% 28,6% 528 510 500 494 25,0% 21,2% 460 449 24,2% 23,2% 403 400 18,7% 20,0% 18,6% 18,3% 17,7% 324 308 300 15,0% 13,2% 201 200 184 10,0% 100 5,0% 0 0,0% 2017 2018 2019 2020 20Q2 - 21Q2 Net Profit Net Profit-Consolidated ROAE ROAE-Consolidated 24
Slide 25: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 20Q2 21Q2 Change (%) P&L 20Q2 21Q2 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 1.176 1.394 19 1.176 1.394 19 Tech. Expenses -1.225 -1.628 33 -1.225 -1.628 33 Net Financial Inc. + Other Exp. (*) 204 410 101 230 434 89 Gross Profit 155 176 14 181 200 11 Tax & Deferr
Slide 26: Core Indicators
Core Indicators (TRY) FY20 21Q6 Change Mcap 3.775mn 3.050mn -19,2% Equity (Book Value) 2.810mn 2.903mn -3,3% P / BV 1,34 1,05 -21,6% 4.000 1,6% 3.500 3.775 1,34% 1,4% 1,25% 1,02% 3.000 0,95% 1,2% 3.050 2.810 2.903 2.500 0,79% 1,0% 1,05% 2.000 2.200 2.155 0,8% 2.055 1.500 1.639 1.646 0,6% 1.550 1.000
Slide 27: Highlights 21Q2 Anadolu
Highlights 21Q2 Anadolu Balanced business profile in competitive pricing environment Ranked in top three at 12 non-life branches Premium production at ₺4,8bn (25% ytd) Strong Accident, Fire and General Losses growth in Q2 (35%, 32% and 40%) Robust growth in AUM Proactive cash flow management
Slide 28: Investment Portfolio
Investment Portfolio Others (*) 1% Deposits In 21M6; 38% Bonds Dividend from ANHYT 72 mn TRY TRY 8,25 bn 48% Investment Income * 732 mn TRY Portfolio Return ~ 20% * ANHYT dividend excluded. Funds 9% Stock 4% ‣TRY 7,32 bn at 31.12.2020 ‣TRY 6,54 bn at 30.06.2020 28
Slide 29: Disclaimer Statement
This presentation contains forward-looking statements and information on the business development of Anadolu Sigorta. These statements may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “seeks” or words with similar meaning. These statements
Slide 30: Anadolu Sigorta
ANADOLU SIGORTA Never lose.
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