Aksigorta As · BIST:AKGRT
Aksigorta As — Investor Presentation (2011)
20 slides from Aksigorta As's investor presentation, Jun 3, 2011
Slide 1: The Major Player of the Market
Investor Presentation “The Major j Player y of the Market” Investor Meeting, 2011 Meclis--i Mebusan Cad. 67 Meclis 34427 Findikli/Istanbul/TURKEY Tel : (+90212) 393 43 00 Fax : (+90212) 243 08 61 www.aksigorta.com.tr
Slide 2: Agenda
Agenda The Scene Performance Strategic Plan 1
Slide 3: Development in Turkish Economy
The Scene Performance Strategic Plan Development in Turkish Economy GNP (billion $) Real Growth in GDP 8.9% 735 736 5.9% 618 1.5% 197 1997-2001 2002-2008 2009 2010 2001 2008 2009 2010 -4.7% Per Capita ($) CPI 10,436 71.6% 8,590 10,079 3,020 , 12 5% 12.5% 6 4% 6.4% 2001 2008 2009 2010 1995-2001 2002-
Slide 4: Non-life Insurance Sector and GDP Growth in Turkey
The Scene Performance Strategic Plan Non-life Insurance Sector and GDP Growth ((inflation adjusted) j ) in Turkey y 20% 17.5% 15% 12 7% 12.7% 13 1% 13.1% 8.9% 8.9% 10% 8.1% 9.4% 8.4% 5% 6 9% 6.9% 4.7% 0.7% 0% 2004 2005 2006 2007 2008 2009 2010 -5% -1.8% 4 0% -4.7% -4.0% -10% GDP Growth Non-Life İns.
Slide 5: Low Penetration Level in Turkey
The Scene Performance Strategic Plan Low Penetration Level in Turkey Indicators show that the non-life insurance sector has huge growth potential in Turkey Turkey is 17th in GDP rankings, but 28th in non-life premium rankings YE09 4 % 4.5% Premiums as a % of GDP 3.6% 3.0% 3 1% 3.1% 2.5% 2.2% 1.9
Slide 6: Non-Life Insurance Growth Potential in Turkey
The Scene Performance Strategic Plan Non-Life Insurance Growth Potential in Turkey TL 12 billion premium production in 2010 CAGR 14% Premium Production in Non-life 10 067 10,067 11,527 9,250 9,820 8,015 5,264 6,348 2004 2005 2006 2007 2008 2009 2010 (TL million) Source: Association of the Insuranc
Slide 7: Insurance Companies in Turkey
The Scene Performance Strategic Plan Insurance Companies in Turkey 57 insurance companies in the sector. # of Insurance Companies # of Foreign Companies 36 37 38 59 60 55 57 34 53 53 24 22 22 32 32 35 36 33 33 20 20 24 24 24 14 1618 16 15 16 21 21 22 9 11 10 2005 2006 2007 2008 2009 2010 2005 2006
Slide 8: Competition in Non Life Business
The Scene Performance Strategic Plan Competition in Non Life Business Market shares of the leading insurance companies in Turkey since 2004. 13.2% 13.0% 13.2% 12.9% 13.2% 12.6% 12.7% 12 7% 12.7% Axa 12.3% 12.2% 12.4% Anadolu 12.0% 11.8% 11.8% Allianz 10.0% Aksigorta 9.7% 9.3% 9 3% 9.2% 9 2% 9.2% 9
Slide 9: Further Expectations for Non Life Business
The Scene Performance Strategic Plan Further Expectations for Non Life Business • Financially more powerful and reliable insurance companies (e.g. Capital Adequacy, Increased Insurance Technical Provisions) Structure • More transparent insurance business (e.g. Insurance Contract Information, Insuran
Slide 10: Sabancı Group in Insurance & Pension Business
The Scene Performance Strategic Plan Sabancı Group in Insurance & Pension Business Partnership Structures (After Spin-off) Non-Life (2010) Life (2010) P i Premiums illi : TL 886 million P i Premiums illi : TL 155 million Market Share : 7.7 % Market Share : 6% Market Rank : 4th Company Market Rank :
Slide 11: Major Player in Non-Life Business
The Scene Performance Strategic Plan Major Player in Non-Life Business GWP is TL 886 million in 2010 CAGR 13% 886 Sector Premium Production 851 CAGR 794 829 14 % 669 516 417 ( TL Million) 2004 2005 2006 2007 2008 2009 2010 Source: Aksigorta 10
Slide 12: Multi-Line Company, Multi-Channel Company
The Scene Performance Strategic Plan Multi-Line Company Multi-Channel Company Active in all non-life branches with variety of products Wide Distribution Network Package policies with extensive and high coverage limits 10 Regional Offices and 2 Regional Representative Simple new products in
Slide 13: Profitability / Combined Ratio
The Scene Performance Strategic Plan Profitability / Combined Ratio **113% 108% 107% 100% 103% *101% 101% 102% 107% 100% 102% 98% 100% 92% Aksigorta Non-Life Sector 2005 2006 2007 2008 2009 2010 (*) Except additional TPL reserves : 95% (**) Except additional new reserves due to legislation : 100% So
Slide 14: 2010 – 2012 Targets
The Scene Performance Strategic Plan 2010 – 2012 Targets In 2012, combined ratio 2% Being the sector leader in Customer satisfaction over Raising the employee lower than sector average 2012 the sector average satisfaction Configuration of Improvement or Establishing new Creating actuarial and human
Slide 15: Appendix: Financial Overview
Appendix Financial Overview 14
Slide 16: Summary of The Balance Sheet
Summary of The Balance Sheet (TRY Million) 2009 YE* YE 2010 YE 2010 3M 2011 3M Cash and Cash Equivalents 293 276 407 268 Marketable Securities (Financial Assets and 211 228 213 255 Investments with Risks on Policy Holders)* Receivables Arising from Operations 358 375 231 422 Participations (Financia
Slide 17: Summary of The Income Statement
Summary of The Income Statement (TRY Million) 2009 YE 2010 YE 2010 3M 2011 3M Premiums Written 851 886 267 319 Premiums Written (Net) 548 635 186 244 Earned Premiums (Net) 542 599 138 165 Total Claims (Net) -448 448 -449 449 -108 108 -129 129 Total Technical Profit 17 22 -15 -6 Net Invesment Income
Slide 18: Key Ratios
Key Ratios 2009 YE 2010 YE 2010 3M 2011 3M Retention Ratio 64% 72% 70% 76% Claims Ratio (Net) 83% 74.9% 78% 78% Expense Ratio (Net) 10% 11.0% 11% 10% Commission Ratio (Net) 13% 15.8% 18% 15% Combined Ratio(Net) 107% 102% 107% 103% Net Income / GWP 4% 0% -1% 1% -2% 2% ROE 1% 0% -4% -7% 17
Slide 19: Foreign Companies and Latest Transactions
The Scene Performance Strategic Plan F Foreign i Companies C i and d Latest L t t Transactions T ti Foreign companies are taking position in a high growth emerging market Foreign companies’ total market share is increasing Market M k t Market M k t Market M k t T Trans. C Company Foreign Local E
Slide 20: The information and opinions contained in this document have been compiled or arrived at
The information and opinions contained in this document have been compiled or arrived at by Aksigorta A.Ş from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. All opinions and estim