Nobleoak Life Ltd · ASX:NOL
Nobleoak Life — HY25 Earnings Presentation
26 slides from Nobleoak Life's earnings presentation, Feb 28, 2025
Slide 1: HY25 Financial Results
For personal use only HY25 FINANCIAL RESULTS AUSTRALIA’S FASTEST-GROWING DIRECT LIFE INSURER NobleOak Life Limited 28 February 2025
Slide 2: Agenda and presenters
Agenda and presenters For personal use only 01 HY25 highlights 02 Financial results Anthony Brown Chief Executive Officer 03 Business update 04 FY25 outlook 05 Q&A Scott Pearson Chief Financial Officer 2
Slide 3: HY25 highlights
For personal use only 01 HY25 highlights 3
Slide 4: Who is NobleOak?
Who is NobleOak? Australia’s fastest-growing and most awarded direct life insurer For personal use only STRONG GROWTH CONSISTENT MARGINS High growth challenger Strong financial discipline life insurer rapidly delivering stable margins increasing market share GROWING MARKET CUSTOMER FOCUS $11bn marke
Slide 5: Market share gains driving growth in premiums and profits
Market share gains driving growth in premiums and profits In-force premium provides strong annuity stream revenue Strong sales driving market share growth in Direct1 Strong growth in-force premiums2 Stable margins delivering strong profit growth For personal use only 20.0% 423 387 17.0% 17.0% 18.0%
Slide 6: HY25 highlights
HY25 highlights Ongoing outperformance and investing for long-term growth For personal use only Strong in-force premium growth and continued market share gains across the portfolio Margin stability driven by sound pricing, strong underwriting and financial discipline Investing to further enhance the
Slide 7: HY25 financial highlights
HY25 financial highlights A strong first half with 20% in-force premium growth For personal use only In-force premiums1 New business Lapse rate1 Underlying NPAT2 $422.9m $30.4m 11.6% $8.7m +20% vs. HY24 +15% vs. HY24 3.8 ppts below industry +11% vs. HY24 In-force premium market share3 New business m
Slide 8: Financial results
For personal use only 02 Financial results 8
Slide 9: Group financial performance
Group financial performance Key financial metrics1 Commentary $m/% HY25 HY24 Var For personal use only ▪ Active policies up 13% to over 145,000 in last 12 In-force premiums at period end (ex-Genus) 422.9 351.4 +20% months New business 30.4 26.5 +15% ▪ Strong 20% in-force premium growth Lapse rate 11
Slide 10: Direct Channel
Direct Channel In-force premiums ($m) Commentary For personal use only ▪ Direct policy count up 8% to almost 51,000 in last 12 months, supporting strong in-force premium growth 85.9 96.2 ▪ Investment in digital marketing and alliance partnerships driving market share of direct in-force HY24 HY25 pre
Slide 11: Strategic Partner Channel
Strategic Partner Channel In-force premiums ($m) Commentary For personal use only ▪ Contemporary products, high quality service and 326.8 strong partnerships with NEOS and PPS driving market share gains – now 3.1% of industry in-force premium1 265.5 ▪ New business sales grew by 19%, reflecting 12.5%
Slide 12: Genus
Genus Key financial metrics Commentary For personal use only $m / % HY25 HY24 Var ▪ Reduction of in-force premiums under management slightly favourable to expectations In-force premiums under management 23.9 24.5 (3%) ▪ Additional $0.1 million of Underlying NPAT in the Underlying Administration expe
Slide 13: Capital position strengthened
Capital position strengthened Reached inflexion point of net capital generation Commentary For personal use only • The business delivered positive capital generation on an underlying basis Capital base Capital adequacy Assets above • Assets above target: multiple1 target • Increase by $0.3m over the
Slide 14: Business update
For personal use only 03 Business update 14
Slide 15: Platform for long term success
Platform for long term success NobleOak continue to drive for long term growth For personal use only - Annuity Income - Reputation Growth - Digital and Data Innovation - Product - Distribution - Regulatory Discipline - Capital - Claims and UW - Customer First Culture - Results 15
Slide 16: Progress on key strategic initiatives
Progress on key strategic initiatives 2. 3. 1. STRATEGIC PARTNERS CAPTURE SCALE For personal use only DIRECT LIFE LEADER GROWTH ADVANTAGES Build on our position as Australia’s Build and support our Optimise the business to achieve leading direct life insurer adviser partners economies of scale Award
Slide 17: Investment in brand and distribution driving Direct sales
Investment in brand and distribution driving Direct sales Australia's most awarded direct life insurer six years running Relaunch of “Nobleman” brand campaign For personal use only • Campaign focuses on quality coverage, exceptional value for money and impeccable service • Expected to drive increase
Slide 18: FY25 outlook
For personal use only 04 FY25 outlook 18
Slide 19: FY25 key strategic initiatives
FY25 key strategic initiatives For personal use only DIRECT LIFE LEADER STRATEGIC PARTNERS GROWTH CAPTURE SCALE ADVANTAGES Build on our position as Australia’s Build and support our network of Optimise the business to achieve leading direct life insurer adviser partners economies of scale Growth - B
Slide 20: FY25 outlook: Building a long-term business
FY25 outlook Building a long-term business For personal use only Market share growth Expect to continue Market toshare outperform growthin an improving market Margin stability Maintaining strong financial Margin disciplines while investing for growth stability Team development Continue to build Team
Slide 21: Q&A
For personal use only 05 Q&A 21
Slide 22: Appendix
For personal use only 06 Appendix 22
Slide 23: Consolidated income statement
Consolidated income statement Management analysis of the underlying result Management Analysis Restated Variance For personal use only $'000 HY25 HY24 % Insurance premium revenue 216,025 181,241 19% Reinsurance expenses (157,831) (132,519) 19% Net insurance premium revenue 58,194 48,722 19% Net clai
Slide 24: Financial strength
Financial strength Sound capital position above regulatory requirements Statutory balance sheet at 31 December 2024 Commentary $m 31 Dec 2024 30 Jun 2024 Financial assets For personal use only Assets Cash and cash equivalents 76.4 64.0 ▪ Primarily held in term deposits and short duration fixed inter
Slide 25: Important notice and disclaimer
Important notice and disclaimer CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY For personal use only Forward-looking statements This presentation may contain statements that are, or may be deemed to be, forward-looking statements. Such statements can generally be identified by the use of word
Slide 26: Important notice and disclaimer (continued)
Important notice and disclaimer (continued) CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY For personal use only Presentation of information The financial data in this presentation is provided on a statutory basis but in a non-statutory presentation format (unless otherwise stated). ▪ Currenc