Bangkok Life Assurance Public Co., Ltd. · SET:BLA
Bangkok Life Assurance Public — Q1 2023 Earnings Presentation
18 slides from Bangkok Life Assurance Public's earnings presentation, May 11, 2023
Slide 1: Analyst Meeting Presentation 1Q23 Financial Results
Analyst Meeting Presentation 1Q23 Financial Results 11 May 2023
Slide 2: Agenda
Agenda 1 1Q23 performance summary (K.Chaiyapol Inthuprabha – SVP, Corporate Strategy & Planning) Premiums and Business & Operation 2 Key Highlights - Investments (K.Chollada Sophonpanich – EVP, Investment Division) - P&L and Key accounting change (K. Jaruwan Limkhunthammo – EVP, Accounting and Finan
Slide 3: Agenda
Agenda 1 1Q23 performance summary (K.Chaiyapol Inthuprabha – SVP, Corporate Strategy & Planning) Premiums and Business & Operation 2 Key Highlights - Investments - P&L and Key accounting change 3 Q&A 3
Slide 4: 1Q23 Performance summary
1Q23 Performance summary 2,198 MB 6,598 MB 8,796 MB First year premium Renewal Year Premium Total Premium +57%YoY -14%YoY -3% YoY From Banca and Group In line with expectation From decreasing RYP 3.69% 756 MB 369% ROI Net Profit CAR -29bps YoY -6% YoY 4Q22: 377% From lower realized gain From lower r
Slide 5: 1Q23: FYP +57%YoY, growth mainly from Banca
1Q23: FYP +57%YoY, growth mainly from Banca RYP -14%YoY from fully-paid policies which in line with expectation FYP RYP TP +57% -14% -3% 2,198 9,071 8,797 Unit : Million Baht 7,666 6,598 1,405 57% 55% 66% 58% Bancassurance 52% Agent Channel 54% Others 16% 34% 39% 34% 33% 28% 18% 18% 9% 9% 12% 8% 1Q2
Slide 6: Banca: FYP +89%YoY, sales increase in all categories
Banca: FYP +89%YoY, sales increase in all categories New Business Premium New Business Premium Product Mix Unit : Million Baht Bancassurance Bancassurance +57% +89% 2,198 1,441 21% 37% Others Bancassurance MRTA 1,405 66% Par Agent Channel 763 Endowment Others 62% 54% 38% 16% 28% 18% 25% 18% 17% 1Q22
Slide 7: Agent: FYP -10%YoY, Par is now 1/3 of product mix
Agent: FYP -10%YoY, Par is now 1/3 of product mix New Business Premium New Business Premium Product Mix Unit : Million Baht Agent Channel Agent Channel +57% -10% 3% 2% 4% Unit-Linked 2,198 3% 392 29% Pension & Others 353 29% 1,405 52% Endowment Bancassurance 40% 10% Agent Channel 66% 14% Par-Endowme
Slide 8: 1Q23 Other channel : FYP +62%YoY
1Q23 Other channel : FYP +62%YoY Group : Strong FYP growth + 75%YoY Partnership : FYP +35% YoY Online : FYP -25%YoY Direct marketing : FYP -14%YoY 8
Slide 9: Agenda
Agenda 1 1Q23 performance summary Premiums and Business & Operation 2 Key Highlights - Investments (K.Chollada Sophonpanich – EVP, Investment Division) - P&L and Key accounting change 3 Q&A 9
Slide 10: Investment asset -1.9% QoQ from benefit payment
Investment asset -1.9% QoQ from benefit payment No significant change in asset allocation. Asset Class 1Q22 4Q22 1Q23 Remark for movement ST Investment 2.8% 3.8% 2.6% Decrease from benefit payment & reinvestment in fixed income Bonds 47.3% 48.2% 49.0% Debenture & Notes 32.2% 31.7% 32.0% Total Fixed
Slide 11: 1Q23 investment income -8.9% YoY due to muted realized gain
1Q23 investment income -8.9% YoY due to muted realized gain Interest and dividend decrease at slower pace than Investment assets, investment yield improve by 3 bps Investment income (MB) Key investment performance -8.9% YoY • Investment income at Bt3.0 bn (-8.9% YoY) due to muted realized gain. 3,34
Slide 12: CAR decreased to 369% in 1Q23 (+40% YoY, -8% QoQ)
CAR decreased to 369% in 1Q23 (+40% YoY, -8% QoQ) 1Q23 CAR was impacted by flattening yield curve 364% 363% 377% 369% 329% Total Capital Required (TCR) Risk charged by type to TCR 1.9% Operation Risk 11.0% REITs Risk 1Q22 2Q22 3Q22 4Q22 1Q23 39.2% Equity Risk Company CAR 6.4% Interest Risk AZAY (4Q2
Slide 13: Agenda
Agenda 1 1Q23 performance summary Premiums and Business & Operation 2 Key Highlights - Investments - P&L and Key accounting change (K. Jaruwan Limkhunthammo – EVP, Accounting and Finance) 3 Q&A 13
Slide 14: Statement of financial positions
Statement of financial positions Consolidated financial statements 31 Mar 23 31 Dec 22 Inc / Dec ASSETS decrease 5,038 MB MB % MB % MB % Assets Total assets decrease from 2022 mainly Cash and cash equivalents 8,268 2% 12,681 4% (4,413) -35% due to decreasing in cash and cash Investment assets 318,65
Slide 15: 1Q2023 Financial Summary
1Q2023 Financial Summary Common Size Unit: Million Baht 1Q23 1Q22 YoY 1Q23 1Q22 First year premium 2,198 1,405 56% 27% 17% 1Q23 Renewal premium 6,598 7,666 -14% 82% 91% TNP -4% mainly from RYP -14%. REIN&UPR (753) (665) -13% -9% -8% Investment income -11% mainly Total Net Earned Premium (TNP) 8,043
Slide 16: Policy benefit payment
Policy benefit payment Policy benefit payment Major line items Payment(mn baht) 15,067 Payment(mn baht) 178% 5% +234% 3% 98% 10,000 8,566 8% 66% 5% 35% -25% +11% 18% 2,997 2,208 1,655 11% 1,551 1,729 26% 11% 8% 3% 1Q22 1Q23 Benefit Payment Surrender Maturity Death Benefit Payment Claim Others 1Q22 1
Slide 17: Q&A
Q&A 17
Slide 18: Nsvinw
Nsvinw Us=nuson BANGKOK LIFE Ins. 02-777-8888 / wWnd 02-777-8899 www.bangkoklife.com
Bangkok Life Assurance Public — Q1 2023 Earnings Presentation on 6ix