Aksigorta As · BIST:AKGRT

Aksigorta As — Q1 2014 Earnings Presentation

16 slides from Aksigorta As's earnings presentation, April 2014

  1. Slide 1: 2014 Q1 Results

    2014 Q1 Results AKSigorta

  2. Slide 2: Why Invest in Aksigorta

    Why Invest in Aksigorta 2 Great Potential in 1 Great Potential in TR NL Insurance Market Akbank 2  Turkey has 1,1 NL insurance penetration 5% while peer economies have 2-3 3%  Turkey has 17th largest economy in the world, while TR NL insurance market is 9% 7% 8% 29th in ranking 2009 2011 2013 Akba

  3. Slide 3: Agenda

    Agenda 3 2014 Q1 Financial Results 2014 Guidance Investor Presentation

  4. Slide 4: Bottom line profitability continues to improve

    Bottom line profitability continues to improve 4 476  Aksigorta growth is 6pp over Premium 411 16% than the Market growth (10%) Production  Non-Motor business growth is (M TL) 28% while the Market growth is 13'Q1 14'Q1 16% 99  Excluding 5MTL one-off technical Combined Ratio 96 97 reserve, combine

  5. Slide 5: Strategies defined to create the “Future Aksigorta”

    Strategies defined to create the “Future Aksigorta” 5 Operational Product Excellence Aksigorta Transformation Program “Sustainable Profitability” Service Channel Excellence Investor Presentation

  6. Slide 6: YtoD portfolio share continues to increase in non-motor

    YtoD portfolio share continues to increase in non-motor 6 YtoD CHANNEL SHARES (%) YtoD LOB SHARES (%) Bank in Market 2pp Non-motor in Market 2pp MARKET MARKET 45% 43% Agencies 63% 64% Motor Banks Non-Motor Brokers Health Direct Sales 42% 44% 15% 13% 13% 14% 9% 9% 13% 13% Bank in Aksigorta 4pp Non-mo

  7. Slide 7: Rolling 12 months portfolio shares are inline with the strategic plan

    Rolling 12 months portfolio shares are inline with the strategic plan 7 L12ms CHANNEL SHARES (%) L12ms LOB SHARES (%) Bank in Market 1pp Non-motor in Market 1pp MARKET MARKET Agencies 51% 50% Motor 68% 69% Banks Non-Motor Brokers Health Direct Sales 38% 39% 14% 13% 12% 12% 6% 6% 11% 11% Bank in Aksi

  8. Slide 8: ROE continues to improve through the financial income while UW Profit is flat

    ROE continues to improve through the financial income while UW Profit is flat 8 Combined Ratio UW Result Loss Ratio ROE 105% 100% 96% *97% 80% 72% *69% 67% 5% 12% 11% *19% 11'Q1 12'Q1 13'Q1 14'Q1 *Excluding one-offs Investor Presentation

  9. Slide 9: Bottom line grows 62pp over the top line

    Bottom line grows 62pp over the top line 9 Income Statement (TRL Million) 11’YE 12’YE 13’YE 12’Q1 13’Q1 14’Q1 Gross Written Premiums 1.137 1.311 1.526 370 411 476 Net Written Premiums 838 930 1.082 255 273 302 Net Earned Premiums 750 891 1.007 214 238 275 Claims (net) -544 -623 -663 -153 -160 -194 C

  10. Slide 10: Improving ROE thanks to strong profit generation

    Improving ROE thanks to strong profit generation 10 (TL Million) 11’YE 12’YE 13’YE 12’Q1 13’Q1 14’Q1 Cash and Marketable Securities 591 627 901 596 652 917 Receivables 452 475 462 477 495 521 Other Assets 93 116 147 91 125 145 Participations 30 30 8 30 30 8 Fixed Assets 43 44 31 43 45 33 Total Asset

  11. Slide 11: Aksigorta share continues to perform over the index

    Aksigorta share continues to perform over the index TL 11 +51% positive performance relative to index +9% positive performance relative to index in 2013 in 2014 Current MCap – TL 878M 13YE MCap – TL 817M 12YE MCap – TL 667M Broker Date Target Eczacıbaşı Sec. 27/02 3,68 AK Invest 18/02 3,60 Deutsche

  12. Slide 12: Agenda

    Agenda 12 2014 Q1 Financial Results 2014 Guidance Investor Presentation

  13. Slide 13: We keep 2014 Guidance

    We keep 2014 Guidance 13 Premium 1.526 ~15-18%  Benefitting from the profitable Production UWP base (M TL) 13'A 14'E ~1pp 94 Imp. Combined Ratio  Sustainable UWP level is achieved 13'A 14'E  Technical Profit growing in line *76 ~20-30% with Top Line growth combined Net Income/Loss with higher Fin

  14. Slide 14: Keep flight altitude and enjoy technical margins in 2014

    Keep flight altitude and enjoy technical margins in 2014 14 CHANNEL SHARES (%) LOB SHARES (%) Agencies MARKET 51% 52% Banks 69% 69% Motor Non-Motor Direct Sales & Health Broker 38% 38% 14% 14% 17% 17% 11% 10% Agencies 47% 47% AKSİGORTA 62% 61% Motor Banks Non-Motor Direct Sales & Health Broker 17% 2

  15. Slide 15: Contact Information & Disclaimer

    Contact Information & Disclaimer 15 For further information please contact with; (Mr.) Osman Akkoca, Financial Control Manager and (Ms.) Gülnur Kurt, Accounting Manager (T) +90 212 393 43 00 investor.relations@aksigorta.com.tr www.aksigorta.com.tr/en/yatirimci_iliskileri.php Aksigorta A.Ş. Meclis-i

  16. Slide 16: THANK YOU

    Contact Information & Disclaimer 16 For further information please contact with; (Mr.) Osman Akkoca, Financial Control Manager (Mrs.) Gülnur Tüccar, Accounting Manager Aksigorta A.Ş. Meclis-i Mebusan Caddesi No 67 Fındıklı 34427 İstanbul Türkiye (T) +90 212 393 43 00 (F) +90 212 334 39 00 investor.r

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