NobleOak Life Ltd · ASX:NOL
NobleOak Life — Shareholder Meeting (November 2020)
31 slides from NobleOak Life's shareholder meeting presentation, Nov 25, 2020
Slide 1: 2020 Annual General Meeting
2020 Annual General Meeting 25 November 2020 Stephen Harrison - Chair Anthony Brown - CEO
Slide 2: Chairman's Address
Chairman’s Address Mr Stephen Harrison
Slide 3: Board – Introductions
Board – Introductions Mr Stephen Harrison Chairman and Non Executive Director Mr Anthony R Brown CEO and Director Mr Emery Feyzeny Deputy Chairman and Non Executive Director For re-election Mr Kevin Hamman Non Executive Director For re-election Ms Inese Kingsmill For election Non Executive Director
Slide 4: Management
Management Rick Rupping Anthony Brown Head of Marketing Chief Executive Officer Matt Minney Scott Pearson Head of Claims & Operations Chief Financial Officer Present Sarah Ding today Malcolm Weir Head of Insurance Financial Controller Matthew W Chief Risk Officer Tatyana Marfenko Head of Alliances M
Slide 5: Welcome to NobleOak
Welcome to NobleOak 1. Chairman’s Address 2. CEO’s Report 3. 2020 Year in Review 4. Formal Proceedings 5. Q&A CONFIDENTIAL – NOT FOR CIRCULATION 5
Slide 6: 2020 Highlights
2020 Highlights 2. 7. 4. Profitability Digital product Successful growth launch navigation of COVID- 19 1. Premium 8. 5. growth in a Customer-first Investment across depressed the business culture market WFH, online tools, development direct and CRM, claims partnership 6. 9. 3. Direct Life Capital b
Slide 7: CEO's Report
CEO’s Report Mr Anthony R Brown
Slide 8: 2020 Year in Review
2020 Year in Review
Slide 9: 9
9
Slide 10: Industry Regulation
Industry Regulation Continued Scrutiny and Change Industry Changes NobleOak Position Significant Industry losses due to high Tight underwriting, minimal legacy, and prudent pricing results claims on legacy books in increasing annual profits. APRA Industry directive for greater NobleOak is engagi
Slide 11: Overview: Our Three Key Revenue Sources
Overview Our Three Key Revenue Sources NobleOak Direct Business NobleOak' s Core Direct business High growth and high margin product line Strategic Partnerships Genus Administration NobleOak’s tailored advised products NobleOak' s non-core admin business High growth portfolio Freedom Insurance run o
Slide 12: Unique High Growth Niche Position
Unique High Growth Niche Position Inforce Premium by Insurer Industry Inforce Premium and Growth Rates 30/12/19 (Retail Market - Plan for Life) 30% 25% 25% 20% Annual Growth Rate % 15% 10% 5.20% 5% 2.50% Inforce Premium 0.50% $mil 0% 0 200 400 600 800 1,000 1.200 1.400 -1.60% 1,600 -3.20% -5% -4.40%
Slide 13: The Life Insurance Market
The Life Insurance Market NobleOak Growth Compared to Industry Industry - Inforce Annual Premiums ($m) 18,000 16,000 14,000 12,000 10,000 8,000 6,000 Retail - 70% of risk 4,000 market is “Retail”, 2,000 MARKET DATA SOURCE: March 0 2020 – Plan for Life Quarterly Life Dec-15 Jun-16 Dec-16 Jun-17 Dec-1
Slide 14: COVID-19 Response and Impact
COVID-19 Response and Impact Well Prepared and Managed Through Crisis o COVID-19 Pandemic Plan activated on 31 January 2020 o Cyber and Information Security enhancements Covid- 19 50 $ Millions Period Inforce Premium Over 5 years 45 Illustrating minimal Long term impact on sales from COVID-19 40 35
Slide 15: Financial Summary – Premiums
Financial Summary – Premiums Actuals and Projections NobleOak enjoys rapidly growing inforce premium. FY17 FY18 FY19 FY20 $mil Actual Actual Actual Actual Sales Core Direct 6.0 8.6 9.0 10.0 Growth 43% 4% 12% Partners 3.6 6.0 14.7 38.6 Growth 67% 144% 162% Total Sales 9.7 14.7 23.7 48.6 Growth 52% 62
Slide 16: Financial Summary – Profit and Loss
Financial Summary – Profit and Loss NobleOak exceeded the 2020 budget and enjoys increasing annual profits. $mil FY17 FY18 FY19 FY20 Profit By Business Segment Actual Actual Actual Actual Normalised Profit Before Tax Open Funds Core Direct (1.1) 1.6 2.6 4.3 Growth -241% 64% 69% Partners 0.5 1.2 1.9
Slide 17: Financial Summary – Balance Sheet
Financial Summary – Balance Sheet NobleOak has a solid balance sheet with $6m excess capital as at 30 June 2020. FY19- Actual FY20- Actual Assets Cash and Investment 24.5 41.2 Deferred acquisition costs (DAC) 39.6 58.2 Gross Policy liabilities ceded under reinsurance 19.5 32.9 Other assets 9.1 16.2
Slide 18: Most Awarded Direct Life Insurer
Most Awarded Direct Life Insurer • Canstar Outstanding Value Awards (2016,2017,2018, 2019 & 2020) • Plan for Life Excellence Awards – Overall Excellence Awards (2018, 2019 & 2020) (previously called Strategic Insights) • Feefo Gold trusted Service Awards (2017, 2018, 2019) • Finder Award – best Life
Slide 19: 2021 Priorities
2021 Priorities 2. 7. 4. Systemisation Digital Product ASX Listing and scalability Enhancement 1. 8. 5. Growth Investment across Customer first Direct and the business and culture partnership team maintained 6. 9. 3. New Industry Regulatory Product Awards sustainability 19 CONFIDENTIAL – NOT FOR CIR
Slide 20: Formal Proceedings
Formal Proceedings Mr Stephen Harrison
Slide 21: Shareholder Resolutions
Shareholder Resolutions CONFIDENTIAL – NOT FOR CIRCULATION 21
Slide 22: Registration and Voting
Registration and Voting 1. Log in or register at: https://investor.automic.com.au/#/home 2. Click “register” in the banner at the bottom 3. of your screen, then select “register” for this Record your vote. meeting Once you confirm it is lodged and final To contact support: Call 1300 816 159 or open
Slide 23: Annual Report, Director's Report and Auditor's Report
Annual Report, Director’s Report and Auditor’s Report To contact support: Call 1300– 816 CONFIDENTIAL 159 NOT FOR or open live chat from the Investor Portal CIRCULATION 23
Slide 24: Resolution 1. Re-election of Emery Anthony Feyzeny
Resolution 1. Re-election of Emery Anthony Feyzeny a. “Mr Emery Anthony Feyzeny who retires by rotation in accordance with Clause 12.4 of the Company’s Constitution, and being eligible, offers himself for re- election, be re-elected as a Director of the Company.” Resolution For Against Discretionary
Slide 25: Resolution 1. Re-election of Kevin Hamman
Resolution 1. Re-election of Kevin Hamman b. “Mr Kevin Hamman who retires by rotation in accordance with Clause 12.4 of the Company’s Constitution, and being eligible, offers himself for re-election, be re-elected as a Director of the Company.” Resolution For Against Discretionary/ Total Abstain Und
Slide 26: Resolution 2. Election of Inese Indra Kingsmill
Resolution 2. Election of Inese Indra Kingsmill a. “Ms Inese Indra Kingsmill having been appointed as a Director since the last Annual General Meeting, in accordance with Clause 12.3(a) of the Constitution and being eligible offers herself for election, be elected as a Director of the Company.” Reso
Slide 27: Resolution 2. Election of Andrew James Boldeman
Resolution 2. Election of Andrew James Boldeman b. “Mr Andrew James Boldeman having been appointed as a Director since the last Annual General Meeting, in accordance with Clause 12.3(a) of the Constitution and being eligible offers himself for election, be elected as a Director of the Company.” Reso
Slide 28: General Business Questions?
General Business Questions? CONFIDENTIAL – NOT FOR CIRCULATION 28
Slide 29: Poll Results
Poll Results CONFIDENTIAL – NOT FOR CIRCULATION 29
Slide 30: Poll Results
Poll Results Conducted 25 November 2020 Resolution For Against Abstain Outcome Votes Votes Votes 1a. Re-election of Mr Emery Anthony Feyzeny 39,128,968 1,654 0 Passed by Poll as a Director 100.00% 0.00% 1b. Re-election of Mr Kevin Hamman 36,682,667 2,447,955 0 Passed by Poll as a Director 93.74% 6.2
Slide 31: Thank you
Thank you The meeting is now closed CONFIDENTIAL – NOT FOR CIRCULATION 31