ASR Nederland N.V. · EURONEXT:ASRNL
ASR Nederland — a.s.r. — Merger or Acquisition (December 2018)
9 slides from ASR Nederland's merger presentation, Dec 4, 2018
Slide 1: a.s.r. acquires Loyalis
a.s.r. acquires Loyalis Jos Baeten, CEO Chris Figee, CFO Analyst conference call 04 December 2018
Slide 2: Value creating acquisition in the core of a.s.r. strategy
Value creating acquisition in the core of a.s.r. strategy Strategic rationale and transaction highlights • Bolt-on acquisition in line with a.s.r.’s strategy and commitment to deploy capital for sustainable value creation. Compelling opportunity to € 450 mln cash consideration further consolidate th
Slide 3: Loyalis overview
Loyalis overview • Loyalis is mainly a Non-life company with € 161 mln of GWP FY2017 (in €m) IFRS net result FY2017 (in €m) based on Loyalis accounting standards GWP within Non-life and € 105 mln of GWP in Life • Estimated standalone run rate of the net operating earnings 44 is approximately € 30 mi
Slide 4: Disability and Life perspective
Disability and Life perspective Strategic rationale Disability GWP business mix Disability Partial integration: Disability • Strengthening a.s.r.’s competitive position in • Disability offering and portfolio (including sustainable employability segment 13% systems and expertise) will remain in Heerl
Slide 5: Development of sustainable employability platform in disability
Development of sustainable employability platform in disability Optimising underwriting result Pro forma market share disability1 Pricing 28 28 & Shortening duration Risk selection 4 of absenteeism Targeting the right Claims 19 & management customer with the right Customer Distribution Providing inc
Slide 6: Solvency II ratio impact of 8%pts after realising cost synergies
Solvency II ratio impact of 8%pts after realising cost synergies Pro forma Solvency II development (in %) • Day one impact (-9%pts) consist of the purchase price (€ 450 mln), capital synergies (diversification, ineligible capital), alignment of assumptions and the impact of combing the businesses -8
Slide 7: Acquisitions exceeds investment hurdle, EPS and OCC accretive
Acquisitions exceeds investment hurdle, EPS and OCC accretive • Return on Investment of >12% based on operational and capital Expected Return on Investment > 12% synergies • Net synergy potential consist mainly of reduction in staff and life personnel and reduction in IT costs • Loyalis is expected
Slide 8: IR contact details
IR contact details Email: ir@asr.nl Tel: +31 30 257 8600 Michel Hülters, Barth Scholten & Vincent Uriot 8
Slide 9: Disclaimer
Disclaimer Disclaimer and cautionary note regarding forward-looking statements mergers, acquisitions, or divestments (22) other financial risks such as currency movements, interest rate fluctuations, liquidity, or credit risks and (23) the other risks and uncertainties detailed in the Risk Factors s