Wuestenrot & Wuerttembergische Ag · XETR:WUW
Wuestenrot & Wuerttembergische — Wüstenrot & Württembergische — Q3 2021 Earnings Presentation
26 slides from Wuestenrot & Wuerttembergische's earnings presentation, Nov 12, 2021
Slide 1: Q3 2021 Financial Report W&W Group
Wüstenrot & Württembergische AG Q3 2021 Financial Report W&W Group 12 November 2021
Slide 2: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Quarterly Result 2021 | 12 November 2021 Page 2
Slide 3: Where we come from – 200 years of experience in financial topics
W&W – Overview & Strategy Where we come from – 200 years of experience in financial topics 1828 Württembergische 1921 Wüstenrot 1999 Merger of 2005 2010 Acquisition 2017 Introducing 2018 online Privat-Feuer- (Gemeinschaft der Wüstenrot und Acquisition of of Allianz new digital brand platform Versich
Slide 4: W&W Group structure
W&W – Overview & Strategy W&W Group structure W&W Brandpool GmbH functions Service central 100% W&W Informatik GmbH and W&W Service GmbH W&W Asset Management GmbH Wüstenrot & Württembergische AG 100% 100%* Business division „Housing“ Business division „Insurance“ Wüstenrot Bausparkasse AG Württember
Slide 5: Leading banking and insurance group in Germany
W&W – Overview & Strategy Leading banking and insurance group in Germany #2 # 12 #9 “Bausparen” Life Insurance Property and Casualty Insurance ∼6.7 mn >6,000 ∼6,400 Customers Sales agents Employees W&W AG | Quarterly Result 2021 | 12 November 2021 Page 5
Slide 6: Excellent client base with growth potential
W&W – Overview & Strategy Excellent client base with growth potential Multiple contracts per customer High client retention (low churn rate) ∼6.7 mn Customers Solvent customer base Increasing digital affinity W&W AG | Quarterly Result 2021 | 12 November 2021 Page 6
Slide 7: Our strong sales force is broadly positioned to capture further growth
W&W – Overview & Strategy Our strong sales force is broadly positioned to capture further growth Own sales channels Partnerships and cooperations Banks Insurance Financial sales Brokers Others companies networks 10,000 brokers W&W AG | Quarterly Result 2021 | 12 November 2021 Page 7
Slide 8: Diversified banking & insurance business with strong earnings and solid balance sheet
W&W – Overview & Strategy Diversified banking & insurance business with strong earnings and solid balance sheet Consolidated balance sheet 31 Dec 2019 31 Dec 2020 Other/Consolidation: 1% (IFRS) in €bn in €bn Total assets 75,2 76,5 Property Housing: 21% Capital investments 49,0 51,3 & Casualty: 67% B
Slide 9: W&W Group’s sustainability goals in a nutshell
W&W – Overview & Strategy W&W Group’s sustainability goals in a nutshell Implementation of "green" product features and components in all business areas Increased consideration of social and environmental considerations into the investment strategy, ongoing reduction of the capital investments’ carb
Slide 10: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Quarterly Result 2021 | 12 November 2021 Page 10
Slide 11: Overview of Q3 2021: Record results owing to positive trends on the capital markets
Group and segment development Q3 2021 Overview of Q3 2021: Record results owing to positive trends on the capital markets Positive premium development in the insurance division as well as high sales growth in construction financing. As at 30 September 2021, consolidated after-tax net profit rose to
Slide 12: Strong growth in W&W core business
Group and segment development Q3 2021 Strong growth in W&W core business Clear plus with construction +8.2% +8.0% financing and gross insurance 3,459 3,737 +4.2% premiums (property/casualty insurance and life and health 1.892 insurance) 1.729 4.974 5.383 Positive trends in new customers. 333 347 Bec
Slide 13: Record results through recovery of the capital markets and stable costs
Group and segment development Q3 2021 Record results through recovery of the capital markets and stable costs +48.0% +39.0% Rise in consolidated net income 1.732 237 through recovery of the capital markets and positive claims +1.6% development 170 745 758 1.171 Net financial income: In particular, p
Slide 14: IFRS consolidated income statement: Record results despite conservative accounting
Group and segment development Q3 2021 IFRS consolidated income statement: Record results despite conservative accounting Consolidated income statement (in 9M 9M Change EUR millions) 2021 2020 Net financial income: marked by Net financial income 1,732 1,171 561 positive trends on the capital Current
Slide 15: IFRS consolidated balance sheet: Total assets and equity fell due to interest rate trends
Group and segment development Q3 2021 IFRS consolidated balance sheet: Total assets and equity fell due to interest rate trends 9M 12M Fin. assets at fair value through Consolidated balance sheet (in EUR millions) Change profit or loss: Measurement gains 2021 2020 with equities and ULIP assets and F
Slide 16: Segment overview – Strong results particularly for property/casualty insurance
Group and segment development Q3 2021 Segment overview – Strong results particularly for property/casualty insurance 9M 9M Reportable segments Change (in EUR millions) 2021 2020 Housing segment 44.0 44.6 -0.6 Consolidated net income at record level Life and Health Insurance segment 41.2 22.2 19.0 Ma
Slide 17: Housing segment: Operational results on the level of the previous year
Group and segment development Q3 2021 Housing segment: Operational results on the level of the previous year Segment net income nearly on the -3.7% level of the previous year despite the 7.553 fact that one-off income from the initial -1.2% +9.2% 7.277 consolidation of Aachener 45 3.331 Bausparkasse
Slide 18: Life and Health Insurance segment: Solid new business development, particularly in life insurance
Group and segment development Q3 2021 Life and Health Insurance segment: Solid new business development, particularly in life insurance Net financial income in the Life and Health Insurance segment rose to EUR 1,322.0 million (previous year: EUR 843.3 million), +9.4% due in particular to the sharp r
Slide 19: Property/Casualty Insurance segment: Consistently strong growth and record results
Group and segment development Q3 2021 Property/Casualty Insurance segment: Consistently strong growth and record results Net financial income stood at EUR 91.0 million (previous year: EUR 22.2 million) and +6.6% was also driven in this segment by the higher +16.2% net measurement gain +24.7% 1.845 2
Slide 20: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Quarterly Result 2021 | 12 November 2021 Page 20
Slide 21: Higher forecast for net income in 2021 confirmed despite adverse impact of storms
Outlook Higher forecast for net income in 2021 confirmed despite adverse impact of storms In June 2021, as a result of the positive trends on the capital markets in the first half of the year, as well as favourable claims development to that point, we announced that consolidated net income for the f
Slide 22: Agenda
Agenda W&W – Overview & Strategy Results Q3 2021 Outlook Appendix W&W AG | Quarterly Result 2021 | 12 November 2021 Page 22
Slide 23: Key figures show stability and resilience of W&W Group’s business
Appendix Key figures show stability and resilience of W&W Group’s business Key figures last 5 years 2016 2017 2018 2019 2020 In EUR mn Gross written premiums 3,988.8 3,873.4 4,065.4 4,319.7 4,491.0 Construction financing 5,388.5 5,517.5 6,280.2 6,347.7 6,748.8 P&C combined ratio (gross) 90.1% 90.7%
Slide 24: Selected figures for financial years 2019 / 2020
Appendix Selected figures for financial years 2019 / 2020 Key P&L and Balance Sheet figures 2019 2020 change In EUR mn Gross written premiums1 in EUR mn 4,319.7 4,491.0 4.0% o/w L&H insurance in EUR mn 2,372.7 2,445.7 3.1% o/w P&C insurance in EUR mn 1,954.4 2,054.7 5.1% Construction financing in EU
Slide 25: Be sure to keep in touch with us
IR contact Be sure to keep in touch with us For further information, please 22.-24. Nov 2021 contact 31. Mar 2022 Michael Ellwanger Head of Investor Relations 13. May 2022 +49 711 662 725252 ir@ww-ag.com 12. Aug 2022 Please visit our IR website: W&W AG | Quarterly Result 2021 | 12 November 2021 Page
Slide 26: This presentation and the information contained in it, as well as all other documents
This presentation and the information contained in it, as well as all other documents and explanatory notes (collectively, the “Material”), are issued by Wüstenrot & Württembergische AG ("W&W"). This presentation contains certain forward-looking statements and forecasts that reflect the current view
Wüstenrot & Württembergische — Q3 2021 Earnings Presentation on 6ix