Zurich Insurance Group Ltd · SIX:ZURN

Zurich Insurance — Merger or Acquisition (December 2016)

8 slides from Zurich Insurance's merger presentation, Dec 12, 2016

  1. Slide 1: Zurich to acquire Cover-More Group

    Zurich to acquire Cover-More Group Investor presentation December 12, 2016 Zurich Insurance Group

  2. Slide 2: Compelling strategic and financial rationale

    Compelling strategic and financial rationale Leading  Zurich to become a top 3 travel insurance provider globally market  Cover-More Group Limited (Cover-More) is the #1 travel insurance provider in position Australia and New Zealand and #3 in the US1  Fully aligned with Zurich’s strategy Aligned

  3. Slide 3: Transaction highlights

    Transaction highlights  Proposed acquisition by Zurich Insurance Company Ltd of 100% of the share Proposed capital in Cover-More via a scheme of arrangement transaction  Transaction is unanimously recommended by the Cover-More board of directors  Cash offer of AUD 1.95 per ordinary share (AUD 741

  4. Slide 4: Travel insurance is a global and attractive market

    Travel insurance is a global and attractive market MARKET SIZE FOR TRAVEL INSURANCE1 US AU GB CH DE CN India MY GWP (USDbn) 2.2 0.6 1.3 0.2 0.6 0.6 0.1 0.1 Historic growth (%)2 7% 5% 4% 3% 3% 18% 21% 17% Future growth (%)2 5% 5% 4% 1% 3% 18% 21% 15% #Trips (‘000) 82,000 9,400 60,900 14,500 85,000 85

  5. Slide 5: Highly complementary business mix and geographic footprint

    Highly complementary business mix and geographic footprint PRO-FORMA 2016 BUSINESS MIX1,2 COMMENTS  Cover-More is a leading global travel Net revenue (FY-16) EBITDA (FY-16) Travel insurance provider with a complementary 27% 29% insurance business and geographical mix Medical assistance  90% of sal

  6. Slide 6: Strong underlying financials, with opportunity to accelerate under Zurich's ownership

    Strong underlying financials, with opportunity to accelerate under Zurich’s ownership GROSS SALES (AUDm)1 COMMENTS +11% 669  Underlying financial performance has 467 502 been strong, since listing of Cover-More 434 368 in 2013  Significant growth: 2013 2014 2015 2016 2016 PF2 – Acquisition of Trav

  7. Slide 7: Strong strategic fit

    Strong strategic fit  Further strengthen affinity distribution partnership skills along key industry Partnerships verticals Customer  Lifestyle specialty product with fast growing market globally segment  Attractive entry point to build relationships, especially with young customers  Market lead

  8. Slide 8: 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’).

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