Sava Re,d.d · LJSE:POSR
Sava Re,d.d — Sava Re — H1 2011 Earnings Presentation
15 slides from Sava Re,d.d's earnings presentation, August 2011
Slide 1: Slide 1
Slide 2: Analyst Meeting: Financial report of Sava Re Group
Pozavarovalnica Sava, d. d. Analyst Meeting Financial report of Sava Re Group Six Months to 30 June 2011 August 2011
Slide 3: Major events
3 Major events EVENTS PRIOR TO THE REPORTING DATE Request of the Securities Market Agency relating to a potential takeover bid for POSR shares Mateja Treven starts her 5-year term of office as Management Board Member on 3 February 2011 Recapitalisation of the subsidiary Sava životno osiguranje
Slide 4: Results 1-6 2011; Sava Re Group
4 Results 1-6 2011; Sava Re Group Index Realised as Sava Reinsurance Company 1-6 2010 1-6 2011 Plan 2011 2011/2010 % of plan Gross premiums written (EUR) 141.824.962 143.568.044 266.306.189 101,2 53,9% Net profit/loss for the period (EUR) 2.734.450 3.990.775 8.480.464 145,9 47,1% Net combined ratio
Slide 5: Key items of the consolidated income statement
5 Key items of the consolidated income statement Sava Re Group (EUR) 1 - 6 2010 1 - 6 2011 Index 11/10 Net premiums earned 109.232.769 117.052.188 107,2 Sava Re; Tilia Net claims incurred 67.365.181 66.384.535 98,5 Favourable loss development Change in other technical provisions Impact of movements
Slide 6: Results 1-6 2011; consolidated income and expenses
6 Results 1-6 2011; consolidated income and expenses Index (EUR) 1-6 2010 1-6 2011 2011/201 0 Gross premiums written 141.824.962 143.568.044 101,2 Net premium written 126.656.444 126.613.819 100,0 Change in net unearned Largest imapact from Sava Re as there -17.423.675 -9.561.631 54,9 were many mid-
Slide 7: Results 1-6 2011; consolidated expenses
7 Results 1-6 2011; consolidated expenses Index (EUR) 1-6 2010 1-6 2011 2011/2010 NET OPERATING EXPENSES 40.026.471 41.914.581 104,7 Acquisition costs including change in 20.149.213 22.892.126 113,6 deferred acquisition costs Acquisition costs 23.201.336 23.826.940 102,7 Change in deferred acquisiti
Slide 8: Results 1-6 2011; premiums and ratios
8 Results 1-6 2011; premiums and ratios Consolidated GPW 160,0 60,0% 140,0 45,9% 47,4% 50,2% 50,0% 120,0 43,1% 44,9% million EUR 100,0 40,0% 35,6% 80,0 30,0% 60,0 22,3% 20,0% 40,0 20,0 10,0% 0,0 0,0% 2006 2007 2008 2009 30.6.2010 2010 30.6.2011 Slovenia International International premiumas %of tota
Slide 9: Results 1-6 2011; Sava Re Group investments by type
9 Results 1-6 2011; Sava Re Group investments by type Structure30.6.2011 Structure31.12.2010 Deposits and CDs 1,9% 2,0% Bonds 5,6% 12,1% 6,6% 11,6% 3,2% 34,9% 3,2% 35,6% Shares Mutual funds 42,1% 41,1% Other Strategic shares (EUR) 31.12.2010 30.6.2011 Deposits and CDs 129.563.386 128.116.256 Growth
Slide 10: Results 1-6 2011; Sava Re Group investment return
10 Results1-6 2011; Sava Re Group investment return 370,0 5,0% 366,6 4,5% 365,0 4,6% 364,0 4,0% 3,5% 360,0 3,6% (million EUR) 3,0% 355,0 351,2 2,5% 2,7% 2,0% 350,0 1,5% 1,0% 345,0 0,5% 340,0 0,0% 30.6.2010 31.12.2010 30.6.2011 Note: included are interest income/expenses from deposits with cedants of
Slide 11: Performance of subsidiaries 1-6 2011
11 Performance of subsidiaries 1-6 2011 Non-life insurers (EUR) Zavarovalnica Sava Sava Velebit Illyria Sava Tabak Tilia - non-life osiguranje Montenegro osiguranje Gross premium written with coinsurance 39.569.776 5.901.993 8.120.599 5.925.643 4.723.064 4.758.168 Net premiums earned 24.139.226 6.29
Slide 12: Performance of subsidiaries 1-6 2011
12 Performance of subsidiaries 1-6 2011 Zavarovalnica Sava životno Velebit životno Life insurers (EUR) Illyria Life Tilia - life osiguranje osiguranje Gross premium written with coinsurance 5.151.499 550.924 264.683 445.805 Net premiums earned 5.100.989 486.317 263.552 439.937 Year-on-year change -2
Slide 13: Key performance indicators for Sava Reinsurance Company
Pozavarovalnica Sava, d. d. Key performance indicators for Sava Reinsurance Company for the Six Months to 30 June 2011 August 2011
Slide 14: Key items of the income statement
14 Key items of the income statement Reinsurance Company Sava (EUR) 1 – 6 2010 1 – 6 2011 Index 11/10 Due to unearned premiums; larger amount of Net premiums earned 56.533.941 60.419.368 106,9 business written in mid-year renewals Net claims incurred 37.888.794 34.676.834 91,5 Favourable claims deve
Slide 15: Key ratios for reinsurance business – entire portfolio
15 Key ratios for reinsurance business – entire portfolio 80,0% 72,5% 75,8% 29,0% 67,6% 66,2% 67,0% 28,0% 70,0% 28,0% 57,4% 27,1% 27,0% 60,0% 27,0% 50,0% 26,0% 25,4% 40,0% 24,9% 25,0% 24,5% 30,0% 20,0% 24,0% 10,0% 23,0% 0,0% 22,0% 2007 2008 2009 2010 2Q 2010 2Q 2011 2007 2008 2009 2010 2Q 2010 2Q 20