Slide 1: China - Peter So
29 September China 2011 3-10-2011 China - Peter So | 29/9/2011 Peter So China - Peter So | 29/9/2011 0 Chief Representative, Ageas Shanghai Representative Office
Slide 2: China: Focus on Taiping Life Insurance
China Focus on Taiping Life Insurance Competitive Position Gross Inflow In EUR mio National network: More than 835 offices with a presence throughout China 3,681 CAGR: 34% N° 7 market position 3.1% market share, up from 2.6% (2008) 2,371 1,850 Fitch rating: A- 1,520 2007 2008 2009 2010 Banca
Slide 3: Impact new bancassurance regulations
Impact new bancassurance regulations Focus shifts from top-line growth to VANB & to high quality production Life Insurance – Gross Premiums Compounded Persistency Ratio of Regular Premiums In EUR mio 7.4% 2,109 93.9% 94.0% 93.3% 76 1,953 91.7% 60 Agency 88.4% 88.2% Banca 30/06/10 31/12/10 30/06/11 1
Slide 4: Compelling story: Taiping Life's national network
Compelling story: Taiping Life’s national network, a little understood strength China - Peter So | 29/09/11 3
Slide 5: Taiping Life's national network, a little understood strength
Compelling story: Taiping Life’s national network, a little understood strength Presence in all provinces throughout China, except three More than: 835 offices 50,000 tied agents 6,000 bank agents bank distribution agreements with major Chinese banks – jointly network over 20,000 branches Chin
Slide 6: Profile – Taiping Life (China)
Profile – Taiping Life (China) Key financial data Mission/strategy EUR mio FY 07 FY 08 FY 09 FY 10 Mission Gross inflow 1,520 1,850 2,371 3,681 Attain top 5 position in the China life insurance market; Life 1,520 1,850 2,371 3,681 and achieve the status of a well recognized brand Non-Life 0 0 0 0
Slide 7: Taiping Life - distribution
Taiping Life - distribution Distribution mix – FY 10 Gross Inflow FY 10 – Single vs. Regular Broker 3% Agent 28% Renewals Single Bancassurance 33% 47% 69% NB Regular 20% EUR 3,681 mio New Business Inflow FY 10 – Product Mix New Business Distribution mix – FY 10 Group Unit Agency 5% 0,3% 17% Savings
Slide 8: Taiping Life benefits from national presence and market potential
Taiping Life continues to benefit from its strong national presence and attractive market potential National license to expand and write business on a nationwide basis Taiping Strong Multi-Channel distribution capabilities: Solid bancassurance platform in a rapidly changing market has enabled
Slide 9: Hong Kong
29 September Hong Kong 2011 3-10-2011 Stuart Fraser 8 Chief Executive Officer, Ageas Insurance Company (Asia) Limited
Slide 10: Hong Kong: Focus on Ageas Insurance Company (Asia)
Hong Kong Focus on Ageas Insurance Company (Asia) Competitive Position Gross Inflow In EUR mio CAGR: 14% Agency: Consistently top five in agency sales Independent Financial Advisors (IFA): Emerging channel, ~ 80 distribution mandates, generating more than 10% of APE Fortis crisis #11; Double
Slide 11: Compelling Hong Kong story: Recovery from Fortis crisis
Compelling Hong Kong story: Recovery from Fortis crisis Return to growth in agency and emergence as a strong IFA partner 2008: Global financial crisis and break-up of Fortis Both factors contributed to an uncertain future which de-stabilised the agency sales force and consequent loss of key teams
Slide 12: Profile Ageas Insurance Co Asia (AICA, Hong Kong)
Profile Ageas Insurance Co Asia (AICA, Hong Kong) Key financial data Mission/strategy EUR mio FY 07 FY 08 FY 09 FY 10 Mission Gross inflow 226 283 297 335 We invest in quality people to provide quality financial Life 226 283 297 335 solutions. We aim to enhance the customer Non-life 0 0 0 0 experi
Slide 13: Hong Kong – Product mix and distribution
Hong Kong – Product mix and distribution Gross Inflow* Dec 10 – Unit linked vs. Traditional New Business APE Dec 10 – Unit linked vs. Traditional Unit-linked Traditional Traditional Unit-linked 30% 70% 60% 40% Distribution mix in APE Total # of agents IFA 10% 2,271 Agent 90% 2,262 2,039 2,071 2,120
Slide 14: AICA – building an engine for growth
AICA – building an engine for growth both in terms of distribution capability and customer management Continue to develop an effective and efficient agency force AICA Strengthening our IFA proposition, achieving deeper penetration of key accounts Leverage technology to enhance customer service
Slide 15: India
29 September India 2011 3-10-2011 Hans van Wuijckhuijse 14 Chief Operating Officer, IDBI Federal Life Insurance Co Ltd
Slide 16: India: Focus on IDBI Federal Life Insurance
India Focus on IDBI Federal Life Insurance Competitive Position Gross Inflow In EUR mio Bancassurance networks: 1,600 branches IDBI Bank: strong base in Mumbai and Maharashtra while building a national network CAGR: 138%* Federal Bank: clear leadership position in Kerala, southern state with I
Slide 17: Life insurance industry faces many regulatory changes
India Life insurance industry faces many regulatory changes Regulatory framework for Life insurance in India was underdeveloped, and is changing rapidly under the guidance of IRDA All these changes have a significant impact on September 2010, IRDA introduced caps on ULIP charges the business m
Slide 18: InKNOWation at Work
India InKNOWation at Work Attractive and innovative products for our customers and distributors: Wealthsurance Incomesurance Retiresurance Guaranteed Plan Tailor-made solutions for our distribution partners Outperforming the market in critical areas as cost leadership and persistency man
Slide 19: Profile IDBI Federal – (India)
Profile IDBI Federal – (India) Key financial data Mission/strategy EUR mio FY 07 FY 08 Dec 09 Dec 10 Mission Gross inflow - 30 67 131 To be the leading provider of wealth management, Life 30 67 131 protection and retirement solutions that meets the Non-Life 0 0 0 needs of our customers and adds va
Slide 20: India - distribution
India - distribution Gross Inflow* Dec 10 – Single vs. Regular Gross inflow* Dec 10 – New Business Product Mix Single 21% Traditional Unit Linked Regular 28% 72% 79% Distribution mix New Business Distribution mix Agent Agent 26% 29% IDBI Bank IDBI Bank 40% 46% Federal Bank Federal Bank 28% 31% EUR 1
Slide 21: IDBI Federal Life: on track to unlock upside potential
IDBI Federal Life: on track to further unlock the incredible upside potential in a dynamic and high growth market Strong start to operations based on product designs which take advantage of competitive IDBI Federal advantages in pricing, expenses and distribution Life Key to success will be Mo
Slide 22: Malaysia
29 September Malaysia 2011 3-10-2011 Barend van Dam 21 Chief Marketing Officer, Etiqa
Slide 23: Malaysia: Focus on eTiQa
Malaysia Focus on eTiQa Competitive Position Gross Inflow In EUR mio Partnership with Maybank, Malaysia’s leading bank CAGR Total: 13% CAGR Life: 11% 2nd largest insurance group in Malaysia; encompassing CAGR Non-Life: 17% Life, Non-Life, Takaful and Conventional 1,122 No 1 Non-Life, Bancassur
Slide 24: Compelling Malaysian story: Takaful
Compelling Malaysian story Takaful Strong fundamentals Large, relatively wealthy Muslim population with high percentage in middle class Strong government support and initiatives to encourage the growth of Islamic finance and Takaful Fastest growing segment in the Malaysian insurance market Key
Slide 25: Profile eTiQa (Malaysia)
Profile eTiQa (Malaysia) Key financial data Mission/strategy EUR mio FY 07 FY 08 Dec 09 Dec 10 Mission Gross inflow 765 704 791 1,122 Become the “National Champion” in Insurance and Life 516 435 498 717 investment management: Non-Life 249 269 293 405 1st insurer by Gross Premium Written in Life an
Slide 26: eTiQa - distribution
eTiQa - distribution NB mix Life – Traditional vs. Investment - Dec 10 NB mix Life – Conventional vs. Takaful – Dec 10 Investment 3% Conventional Takaful Traditional 45% 55% 97% Non-Life Product mix – Dec 10 Non-Life mix – Conventional vs. Takaful - Dec 10 Fire 15% Motor Miscellaneous 35% Takaful Co
Slide 27: eTiQa – Maybank partnership
eTiQa – Maybank partnership: remains the strongest bancassurance partnership in Malaysia, and one of the strongest in Asia A full-fledged multi-channel conventional and Takaful insurer. eTiQa Both eTiQa and Maybank are strong and reliable brands in Malaysia’s financial sector Bancassurance wit
Slide 28: Thailand
29 September Thailand 2011 Kim Chee Yip Senior Executive Vice-President, Muang Thai Life Assurance Co Ltd
Slide 29: Thailand: Focus on Muang Thai
Thailand Focus on Muang Thai Competitive Position Gross Inflow CAGR Total: 32% In EUR mio Partnership with Kasikornbank, Thailand’s 4th largest CAGR Life: 32% CAGR Non-Life: 30% bank Strong agency network across Thailand 825 Strong brand recognition and awareness 111 525 714 Life No 3 Life i
Slide 30: Muang Thai: Bancassurance Explosion
Muang Thai: Bancassurance Explosion Restructuring the partnership in 2009 Kasikornbank acquired majority ownership of Muang Thai Holdings (MTH), MTH holds 75% of Muang Thai Life Ageas decreased its economic interest in MTL from 40% to 31% with a significant capital gain Strategic restructuring
Slide 31: Profile Muang Thai Life and Muang Thai Insurance
Profile Muang Thai Life and Muang Thai Insurance (Thailand) Key financial data Mission/strategy EUR mio FY 07 FY 08 FY 09 FY 10 Mission Gross inflow 359 426 545 825 Be a leading insurance company both in Life and Non- Life 309 358 456 714 Life insurance by building on a strong multi-channel Non-Li
Slide 32: Thailand – distribution
Thailand – distribution Distribution mix Life - FY 10 Distribution mix Non-Life - FY 10 Broker 4% Affinity Broker 4% 24% Agency Banca Banca 37% 34% 58% Agency 39% EUR 714 mio EUR 111 mio Gross inflow mix Life - FY 10 Business mix Non-Life - FY 10 NB Single 17% Renewals NB Regular 55% Motor Non-motor
Slide 33: Muang Thai: recognized, well-managed insurer with strong growth
Muang Thai: A recognized and well-managed insurer with strong growth through a powerful multi-channel distribution platform Dynamic and effective leadership through a strong management team Muang Thai Strong balance sheet and solvency margins Strong reputation and powerful brands with high vis
Slide 34: Disclaimer
Disclaimer Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events t