Ageas Sa/nv · EURONEXT:AGS
Ageas Sa/nv — Investor Day (March 2022)
12 slides from Ageas Sa/nv's investor day presentation, Mar 31, 2022
Slide 1: Asia Deep Dive – Thailand
Thursday 31st March 2022 Thailand Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 1
Slide 2: Thailand
Thailand BOARD REPRESENTATION Muang Thai Life: Hans De Cuyper, Filip Coremans, Philippe Latour Muang Thai Insurance: Frank Van Kempen, Mong Siew Han MANAGEMENT PARTICIPATION Muang Thai Life (MTL): Chief Bancassurance Officer, Deputy Chief Financial Officer / CIO and Chief Actuary Muang Thai Insuranc
Slide 3: Partnership Overview
Partnership Overview COMPETITIVE POSITION 31% in Muang Thai Life (MTL) / 15% in Muang Thai Insurance (MTI) #3 Life insurer in new business (15% market share) #5 Non-Life insurer (6% market share) Partnership with Kasikornbank, Thailand’s 3rd largest commercial bank by total assets JVs in Cambodia (2
Slide 4: Gross Inflows
Gross Inflows In EUR mio, @100% Life Non-life 2,803 3,003 2,798 2,793 2,523 2,319 11% 11% 12% 14% 16% 17% 89% 89% 88% 86% 84% 83% 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 4
Slide 5: Life Gross Inflows @100%
Life Gross Inflows @100% In EUR mio, @100% Renewal Premium New Business Regular Premium New Business Single Premium 2,681 2,485 2,475 414 2,412 279 316 349 2,110 397 280 1,929 587 333 398 335 270 291 1,870 1,879 1,619 1,665 1,506 1,303 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Mala
Slide 6: MTL – Distribution & Product Mix
MTL – Distribution & Product Mix DISTRIBUTION CHANNELS PRODUCTS 11% 16% 26% 33% 8% MUANG MUANG THAI THAI 8% LIFE LIFE 10% Mortgage 63% Endowment 25% Agency Banca Health CI Other ILP Whole Life Other 10% 14% 18% 9% INDUSTRY 48% INDUSTRY 42% 24% 22% 13% Asia Deep Dive – Thailand and Malaysia I 31 Marc
Slide 7: Challenges for Insurance in Thailand
Challenges for Insurance in Thailand COVID LOW INTEREST RATE ENVIROMENT ● It is expected that the low interest rate environment would ● Economic activity hurting notably private consumption still continue for a while and tourism amid virus surge ● For MTL, the focus will be to continue to sell more
Slide 8: Muang Thai Life opportunities
Muang Thai Life opportunities I. Growth opportunities with low penetration into KBank’s customer base II. Health trend and ageing society III. Emerging digital banking landscape and ecosystem development IV. Digital platforms Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 8
Slide 9: Muang Thai Life - Strategic plan Impact 24
Muang Thai Life - Strategic plan Impact 24 To be the customers’ trusted lifetime partner through innovative life, health, and investment solutions Ambition by putting customers at the heart of everything we do. Growth EXPAND TO engines UNLOCK FULL BUILD AND ADJACENT POTENTIAL EXPAND LEVERAGE BUSINES
Slide 10: Life Technical Liabilities
Life Technical Liabilities In EUR mio, @100% 10% CAGR 13,350 12,852 13,247 11,086 9,292 8,106 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 10
Slide 11: Thailand Local vs IFRS Net Result
Thailand Local vs IFRS Net Result In EUR mio, @Ageas Stake Local Net Result IFRS Net Result 80 80 75 75 73 71 70 72 72 71 66 23 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 11
Slide 12: Strong contribution to the cash flows of Ageas
Strong contribution to the cash flows of Ageas In EUR mio, @Ageas Stake Cumulative Capital Injection Cumulative Cash 2004 162 (61) (85) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Asia Deep Dive – Thailand and Malaysia I 31 March 2022 I 12