Turkiye Sigorta A.s. · BIST:TURSG
Turkiye Sigorta A.s — H1 2024 Earnings Presentation
15 slides from Turkiye Sigorta A.s's earnings presentation, Jul 30, 2024
Slide 1: Earnings Presentation H1 2024
Earnings Presentation H1 2024 July 30, 2024 1H24 Earnings |1
Slide 2: Agenda
Agenda Executive Summary Investment Peformance Profitability Market Position Technical Profitability Distribution Channel Performance GWP Performance Underwriting Performance Financial Statements Guidance 2024 1H24 Earnings |2
Slide 3: Executive Summary
1. Executive Summary GWP Net Profit Technical RoE Profit COR ₺50.4 bn ₺6.6 bn ₺8.0 bn 72% 97% +107% yoy +129% yoy +106% yoy (>55%*) (<112%*) Retention Ratio 42% Investment AUM Market Share CAR Loss Income ₺7.8 bn ₺44.8 bn 15.0% 147% 75% +126% yoy +172% yoy #1 (>135% threshold) (<81%*) *Q1 2024 secto
Slide 4: Profitability
2. Profitability Dividend Payments* Net Profit Total Investment Income (₺ million) (₺ million) (₺ million) Investment Inc.Trans. to Technical Part Net Investment Income 1,000 6,569 7,832 +126% +129% +545% 3,459 7,077 2,870 3,331 155 129 755 2022 2023 1H23 1H24 1H23 1H24 *Türkiye Sigorta is in the BI
Slide 5: Technical Profitability
3. Technical Profitability (₺ million, yoy change) 1H24 1,649 3,601 2,340 -2,753 2,363 485 303 1H23 601 897 1,063 -279 1,237 256 112 Δ 175% 301% 120% 886% 91% 90% 171% 1H24 Earnings |5
Slide 6: GWP Performance
4. GWP Performance (₺ million, yoy change) 1H24 15,322 13,652 2,276 6,263 4,891 3,697 4,310 1H23 6,426 5,150 1,769 6,285 2,548 1,097 1,126 Δ 138% 165% 29% -0% 92% 237% 283% 1H24 Earnings |6
Slide 7: Financial Statement
5. Financial Statement Summary P&L (₺ million) 1H23 1H24 YoY Summary Balance Sheet (₺ million) 1H23 1H24 YoY Technical Income 11,768 27,052 130% Cash and Cash Equivalents 17,097 21,576 26% Earned Premiums 8,322 19,554 135% Receivables from Main Operations 9,996 20,192 102% Written Premiums 13,377 21
Slide 8: Investment Performance
6. Investment Performance AUM* AUM Breakdown (₺ million) 6% 4% FX - Bank Deposits 7% 10% Eurobond 6% 9% FX Protected Deposits 44,807 12% 7% TL Private Sector Bonds 10% TL Government Securities +172% 20% TL - Bank Deposits 23% Mutual Fund & Other 27% 16,500 38% 22% 1H23 1H24 1H23 1H24 * The reported
Slide 9: Market Position
7. Market Position Türkiye Sigorta Market Share Sector Ranking Main Branches 1H23 1H24 Δ 1H23 1H24 (%) (%) (yoy) General Losses 31 39 1 1 F&ND 20 24 1 1 Accident 37 28 1 1 MTPL 12 7 2 5 MOD 7 10 5 3 Health 3 6 7 5 Other 7 16 5 1 TOTAL 13 15 1 1 1H24 Earnings |9
Slide 10: Market Position
8. Market Position 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Market Share* 15.0% 11.3% 9.4% 7.7% 5.2% 5.2% 4.6% 3.9% 3.9% 2.8% 2.7% 2.5% 2.4% 2.3% 2.3% (%) Top 5 cumulative: 48.5% Top 10 cumulative: 68.8% Top 15 cumulative: 81.0% 1.8% 1.3% Market 0.5% 0.3% 0.3% Share 0.2% Δ (yoy) -0.1% -0.2% -0.2% -0.1% -
Slide 11: Distribution Channel Performance
9. Distribution Channel Performance Premium Production Share in Total (₺ million) (%) 50,411 Sector 4,753 6.2% 9.4% Broker 16.1% 17.1% Bank Agency 22,180 14.0% 13.3% Direct 48.5% 44.0% 24,402 1,504 11,834 12,698 59.3% 56.7% 25.2% 35.2% 8,579 10,779 21.4% 10.2% 7.3% 10.2% 2,485 1H23 1H24 1H23 1H24 1H
Slide 12: Underwriting Performance
10. Underwriting Performance Loss Comission Expense Combined Ratio Ratio Ratio Ratio 94% 97% 72% 75% 11% 12% 11% 9% 1H23 1H24 1H23 1H24 1H23 1H24 1H23 1H24 Sector 81% 15% 16% 112% Average* *Q1 2024 sector average 1H24 Earnings |12
Slide 13: Guidance 2024
11. Guidance 2024 Metrics Guidance 2024 1H24 GWP >₺100 billion ₺50.4 billion Dividend Payment >₺1 billion ₺1 billion Market Position sustain #1 #1 with 15% market share • Market leadership Health 10% 6% MOD increase in market share 10% • Sustainable profitability MTPL sustain conservative approach 7
Slide 14: Disclaimer
Disclaimer This presentation is prepared by Türkiye Sigorta AŞ, based on general ideas and it is subject to change without notice. It is based on information obtained from sources that the company believes to be reliable, but the company does not guarantee the authenticity and completeness of inform
Slide 15: Disclaimer Notice
Disclaimer Notice Website www.turkiyesigorta.com.tr Questions investor.relations@turkiyesigorta.com.tr Documents 1H24 Earnings |15