Anadolu Anonim Turk Sigorta Sirketi A.s. · BIST:ANSGR
Anadolu Anonim Turk Sigorta Sirketi A.s — Anadolu Sigorta — Investor Presentation (June 2024)
26 slides from Anadolu Anonim Turk Sigorta Sirketi A.s's investor presentation, Jun 30, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION 30.06.2024 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 1
Slide 2: Content
CONTENT Company & Market Potential_____ 3 Company Overview_____________ 10 Financial Highlights _____________ 22 Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 2
Slide 3: Company & Market Potential
Company & Market Potential Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 3
Slide 4: Sector Data
Sector Data Premium Production (₺ Bn) 2024 H1 (bn TRY) 110% 429,23 Life 43,30 133% 11% Number of Companies 29% Non Life 50 204,15 Life 20 Non-Life Reinsurance 4 337,00 89% 87,6 68,1 56,69 Total 74 30,86 14,4 17,7 12.20 12.21 12.22 12.23 Non-Life Life Non-Life Life Copyright © 2021, Anadolu Sigorta.
Slide 5: Non-Life Trends in the Sector
Non-Life Trends in the Sector Non-Life Premium Per Person 5.028 Premium / GDP Premium Per Person 2022 (%) ($) USA 7,98 5.604 UK 3,92 1.952 2.394 Switzerland 6,82 5.181 1033 868 Poland 0,85 320 611 690 326 386 515 503 OECD 4,55 2.230 116 117 119 144 171 140 132 146 133 116 Turkey 1,23 144 2014 2015 2
Slide 6: Top 10 Non-Life Companies in the Sector
Top 10 Non-Life Companies in the Sector Premium Premium Change (₺ Mn) Production Production 23Q2 24Q2 (%) Production Share by Companies Türkiye Türkiye 24.402 50.411 106,6 15% Allianz 20.622 37.946 84,0 Other 31% Anadolu 18.243 31.545 72,9 Allianz Axa 15.971 25.876 62,0 11% Aksigorta 11.117 17.522 5
Slide 7: Penetration Ratios
Penetration Ratios EARTHQUAKE INSURANCE HEALTH INSURANCE • ~20million houses • 85,4million Population • 56,4%of houses are insured • 6%of population has health insurance TRAFFIC INSURANCE MOD INSURANCE • 29,8million vehicles • 29,8million vehicles • 79%of vehicles are insured • 25%of vehicles are in
Slide 8: Highlights - Anadolu
Highlights - Anadolu Core Business • Improvement in MOD claims ratio: 57,6% (24Q1 – 60%) • Strong growth in health branch - %133 • Bancassurance premium above sector average MTPL • MTPL Premium growth 56% in 2024H1 • MTPL Claims Ratio %98,6 vs %167 in 23 H1 Assets Under Management • AUM reached to ₺
Slide 9: Premium Production
Premium Production Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn) 23H1 24H1 ΔYoY (%) 23H1 24H1 ΔYoY (%) Branch GPW GPW Growth GPW GPW Growth MTPL 3.611 5.647 56,4 51.151 92.380 80,6 MOD 4.878 6.868 40,8 35.698 50.400 41,2 Fire and Nat. D. 3.672 6.724 83,1 25.784 57.845 124,3 Health 2.385 5.566 133,4
Slide 10: Company Overview
Company Overview Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 10
Slide 11: History
History • Founded by Mustafa Kemal Atatürk in 1925 • First national insurance company • Main activity: Non-life insurance (until 1991, both life and non-life) • group company Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 11
Slide 12: Distribution Channels – FY24 H1
Distribution Channels – FY24 H1 10 İstanbul (2) Regional Samsun Branches Bursa Trabzon Ankara İzmir 1 Overseas Branches Konya Antalya Gaziantep Adana 1 Sales Office N. Cyprus 2.945 Professional Agencies 1.050 Isbank Branches ~17% working exclusively with Anadolu Working exclusively with Anadolu Copy
Slide 13: Distribution Channels
Distribution Channels Premium Production – ANSGR 35.000 Premium Production – Sector 400.000 Milyonlar 30.000 -3 10% -3 350.000 25.000 16% 13% 300.000 +5 14% +2 17% 20.000 250.000 13% +1 13% 200.000 15.000 11% 16% -1 13% 150.000 15% 10.000 60% 14% -3 100.000 57% 63% +2 5.000 50.000 55% 0 0 23H1 24H1
Slide 14: Market Share & Rank
Market Share & Rank Rank Market Share Market Share Market Share BRANCHES 24H1 23H1 24H1 Change MOD 1 13,66% 13,63% 0,0 Watercraft 1 23,35% 24,68% 1,3 Fire 2 14,24% 11,62% -2,6 Aircraft 2 54,44% 29,77% -24,7 Transportation 2 14,12% 15,57% 1,4 Aircraft Liability 2 53,69% 21,38% -32,3 Accident 3 5,70%
Slide 15: Profitability – Combined Ratio
Profitability – Combined Ratio Combined Ratio (%) 23H1 24H1 Claims Ratio (%) 23H1 24H1 MOD 77,7 81,6 MOD 53,9 57,6 MTPL 193,3 126,6 MTPL 167,0 98,6 Fire 130,8 87,9 Fire 110,4 44,7 Health 106,7 121,6 Health 79,7 92,8 Accident 70,1 72,1 Accident 16,4 10,4 General Losses 97,8 84,4 General Losses 77,3 5
Slide 16: Company Profile
Company Profile ISO 9001 ISO 10002 Sustainability Quality Management Customer Satisfaction Sustainability Report System Certification Management System 2023 is published and Certification certified by GRI Standards Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor
Slide 17: Company Ratings
Company Ratings Fitch Fitch Insurer Financial National Insurer Financial SAHA Corporate Strength Strength Governance Rating Rating: BB- Rating: AA+(tur) 9,59/ 10 Outlook: Positive Outlook: Stable Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Departmen
Slide 18: Shareholder Structure – 2024
Shareholder Structure – 2024 Milli Reasürans Türk Anonim Şirketi 286.550.106 57,31% Trakya Yatırım Holding A.Ş. 35.014.061 7,00% Other 178.435.833 35,69% Total 500.000.000 100,0% IPO rate: ~48% Mcap (31.06.2024) : ₺53,5 Bn Free float: ~35% Capital (31.06.2024) : ₺500 Mn Copyright © 2021, Anadolu Sig
Slide 19: Financial Highlights
Financial Highlights Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 19
Slide 20: Growth Performance
Growth Performance Total Assets (mn TRY) Tech. Reserves (mn TRY) 81.515 42.315 35.982 58.368 20.438 17,6% 39,7% 30.706 10.779 12.076 16.776 7.774 2020 2021 2022 2023 24H1 2020 2021 2022 2023 24H1 Assets Under Management (mn TRY) Shareholders' Equity (mn TRY) 27.109 41.585 32.026 14.204 29,8% 90,9% 1
Slide 21: Balance Sheet (₺ mn)
Balance Sheet (₺ mn) Change Change Assets 06.23 06.24 Liabilities 06.23 06.24 (%) (%) Cash + Marketable Sec. 29.671 47.156 58,9 Technical Provisions 26.947 42.315 57,0 Equity Participations 1.553 10.870 599,9 Shareholders' Equity 8.589 27.109 215,6 Other Assets 14.425 23.488 62,8 Other Liabilities 1
Slide 22: Solo & Consolidated ROAE
Solo & Consolidated ROAE 100% 90% 80% 75,2% 71,2% 70% 58,4% 60% 50,7% 50% 40,8% 40% 32,3% 28,6% 30% 24,2% 23,9% 21,2% 18,6% 17,4% 20% 10% 0% 2019 2020 2021 2022 2023 2024H1 ROAE ROAE-Consolidated * 12 Months Trailing Profit Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and
Slide 23: Income Statement (₺ mn)
Income Statement (₺ mn) Change (%) 23Q2 24Q2 Change (%) P&L 23Q2 24Q2 (YoY) (Cons.) (Cons.) (YoY) Tech. Income (*) 5.721 9.901 73 5.721 9.901 73 Tech. Expenses -6.653 -10.093 52 -6.653 -10.093 52 Net Financial Inc. + Other Exp. (**) 4.579 3.473 -24 4.764 3.717 -22 Gross Profit 3.647 3.281 -10 3.832
Slide 24: Investment Portfolio
Investment Portfolio Other 2% Deposits 24% Bonds 23% In 24H1: TRY 41,5 bn Dividend from ANHYT 200 mn TRY Investment Income 7.733 bn TRY Stock Portfolio Return ~ 23,3% 12% * ANHYT dividend excluded. Funds 39% ‣TRY 36,4 bn at 31.03.2024 ‣TRY 32,0 bn at 31.12.2023 Copyright © 2021, Anadolu Sigorta. All
Slide 25: Disclaimer Statement
Disclaimer Statement This presentation contains forward-looking statements and information on the business development of Anadolu Sigorta. These statements may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “seeks” or words with similar mean
Slide 26: Thanks
THANKS Copyright © 2021, Anadolu Sigorta. All rights reserved. Fund Management and Investor Relations Department 26