Sava Re,d.d · LJSE:POSR
Sava Re,d.d — Sava Re — Q1 2012 Earnings Presentation
19 slides from Sava Re,d.d's earnings presentation, May 2012
Slide 1: Slide 1
Slide 2: Financial Report Three Months to 31 March 2012
Pozavarovalnica Sava, d. d. Financial Report Three Months to 31 March 2012 (1-3 2012) May 2012
Slide 3: 1-3 2012 Consolidated Results
3 1-3 2012 Consolidated Results % Change Sava Re Group 1-3 2011 1-3 2012 Plan 2012 Plan/actual 1-3 12/1-3 11 Gross premiums written (EUR) 82.992.817 92.378.003 271.148.318 11,3% 34,1% Net profit (EUR) 1.884.792 3.690.474 10.588.677 95,8% 34,9% Net combined ratio S&P 99,9% 97,8% 97,8% -2,1 p.p. ROE 1
Slide 4: 1-3 2012 Results: Sava Reinsurance Company
4 1-3 2012 Results: Sava Reinsurance Company % Change Sava Reinsurance Company 1-3 2011 1-3 2012 Plan 2012 Plan/actual 1-3 12/1-3 11 Gross premiums written (EUR) 50.289.311 58.783.712 141.645.535 16,9% 41,5% Net profit (EUR) 735.728 1.707.759 9.597.535 132,1% 17,8% Net combined ratio S&P 97,6% 96,5%
Slide 5: Financial Report Sava Re Group
Pozavarovalnica Sava, d. d. Financial Report Sava Re Group 1-3 2012
Slide 6: The Sava Re Group
6 The Sava Re Group Sava Reinsurance Company 99.99% Sava osiguranje Serbia Zavarovalnica Tilia 99.71% Slovenia 99.99% Sava životno osiguranje Serbia 5.0% Moja naložba 20.0% 100.0% Illyria Illyria Hospital 100.0% Slovenia Kosovo Kosovo 20.0% 100.0% Illyria Life Kosovo 48.68% Zavarovalnica Maribor Slo
Slide 7: Major Items of the Consolidated Income Statement
7 Major Items of the Consolidated Income Statement Y-o-y % (EUR) 1-3 2011 1-3 2012 chg Net earned premiums 55.008.138 57.391.840 4,3% Net claims incurred 32.269.763 35.444.747 9,8% Change in other net technical provisions (+/-) -684.282 -325.692 52,4% Commission income 448.673 580.450 29,4% Expenses
Slide 8: 1-3 2012 Results: Premiums & Ratios
8 1-3 2012 Results: Premiums & Ratios
Slide 9: 1-3 2012 Results by Operating Segment
9 1-3 2012 Results by Operating Segment
Slide 10: 1-3 2012 Results: Consolidated Expenses
10 1-3 2012 Results: Consolidated Expenses % Change (EUR) 1-3 2011 1-3 2012 1-3 12/1-3 11 NET OPERATING EXPENSES 19.170.816 18.431.834 -3,9% Acquisition costs including change in DAC 10.248.517 10.467.222 2,1% Acquisition costs 11.804.351 13.699.133 16,1% Change in DAC -1.555.834 -3.231.911 107,7% O
Slide 11: 1-3 2012: Sava Re Group Investments
11 1-3 2012: Sava Re Group Investments 388,0 +3,8% 371,8 million EUR million EUR +2,3% +5,2% -45,1% +0,9% -5,0% -4,8% +22,3% Decrease in government bonds and temporary increase in deposits due to capital market conditions (increase in bond prices) * The “Other” item comprises loans, land and buildin
Slide 12: 1-3 2012 Results: Investments of the Sava Re Group
1-3 2012 Results: Investments of the Sava Re Group 13 Investments by issuer credit rating Investments by IFRS categories Investments by region
Slide 13: 1-3 2012 Results: Investments of the Sava Re Group
1-3 2012 Results: Investments of the Sava Re Group 14 Investments by issuer Issuer: financial institutions Issuer: government The "Other" item includes: business, investment property and strategic investments. Financial institutions include: banks incl. savings banks, insurance companies, mutual fun
Slide 14: 1-3 2012: Sava Re Group Investments income and expenses
14 1-3 2012: Sava Re Group Investments income and expenses (EUR) 1-3 2012 1-3 2011 Index Investment income 5.879.686 4.653.395 126,4 - Income from investments in associates 995.642 1.454.857 68,4 - Interest income 3.386.942 2.901.370 116,7 - Other financial income 1.497.102 297.168 503,8 Investment
Slide 15: Sava Reinsurance Company
Pozavarovalnica Sava, d. d. Sava Reinsurance Company 1-3 2012
Slide 16: Major Items of the Income Statement – Sava Reinsurance Company
16 Major Items of the Income Statement – Sava Reinsurance Company % Change Sava Reinsurance Company (EUR) 1-3 2011 1-3 2012 1-3 12/1-3 11 Net earned premiums 27.023.454 30.288.516 12,1% Net claims incurred 16.706.460 19.536.875 16,9% Change in other net technical provisions (+/-) 0 0 Other technical
Slide 17: Key ratios for the reinsurance portfolio
17 Key ratios for the reinsurance portfolio
Slide 18: 1-3 2012 Results: Operating Expenses
18 1-3 2012 Results: Operating Expenses % Change (EUR) 1-3 2011 1-3 2012 1-3 12/1-3 11 NET OPERATING EXPENSES 9.333.787 9.520.001 2,0% Acquisition costs including change in deferred 8.226.430 8.442.818 2,6% acquisition costs - Acquisition costs 9.478.164 11.290.792 19,1% - Change in deferred acquisi
Slide 19: 1-3 2012 Results: Statement of Financial Position
19 1-3 2012 Results: Statement of Financial Position % Change Sava Reinsurance Company (EUR) 31.12.2011 31.3.2012 1-3 12/1-3 11 ASSETS 417.051.463 458.481.420 9,9% Financial investments in associate 114.423.243 116.860.800 2,1% companies Financial investments 208.748.194 215.039.211 3,0% Reinsurers'