Qualitas Controladora S.A.B. de C.V. · BMV:Q
Qualitas Controladora S.A.B. de C.V — Q4 2015 Earnings Presentation
21 slides from Qualitas Controladora S.A.B. de C.V's earnings presentation, 2016
Slide 1: Quálitas Controladora 4Q15 Webcast
Quálitas Controladora 4Q15 Webcast 1 1
Slide 2: Contents
Contents Throughout the document, figures are expressed in million pesos, except when is otherwise specified. Variations are expressed on a yearly comparison. Q – Quálitas Controladora • Mexico´s Automotive Environment • Written Premiums´ Growth • QUIC • Written and Earned Premiums • Income Statemen
Slide 3: Mexico's Automotive Environment
Mexico´s Automotive Environment 3
Slide 4: Written Premiums' Growth
Written Premiums´ Growth Segment Premiums 2015 ∆% (MM MXN) Breakdown Individual 3,928 13.9% 19.8% Fleets 5,999 4.4% 30.3% Financial Institutions 8,554 15.3% 43.1% Subsidiaries 660 NA 3.3% Other 716 52.9% 3.5% Total 19,856 14.5% 100.0% NA: Not Applicable 4
Slide 5: QUIC
QUIC Cross Border Domestic Program • Commercial vehicles, domiciled • Vehicles with US plates that in Mexico, with Mx or MX collect goods in a border Description Enterprise license warehouse and delivered to their • USA (minimum 15 miles and final destination maximum 1,500 miles) • a Territory • Ari
Slide 6: Written and Earned Premiums
Written and Earned Premiums *CAGR: Compound Annual Growth Rate 6
Slide 7: 4Q15 Income Statement
4Q15 Income Statement (MM MXN) 4Q15 4Q14 Δ$ Δ% Written Premium 5,885 4,894 992 20.3% Earned Premium 4,649 4,171 478 11.5% Acquisition Cost 1,386 1,243 143 11.5% Claims Cost 3,356 3,017 338 11.2% Technical Result (92) (89) (3) 3.5% Operating Expenses 165 141 25 17.4% Operating Result (258) (230) (28)
Slide 8: 12M15 Income Statement
12M15 Income Statement (MM MXN) 2015 2014 Δ$ Δ% Written Premiums 19,856 17,340 2,516 14.5% 2015 NEW OPENINGS: Earned Premiums 17,065 15,356 1,709 11.1% Acquisition Cost 4,518 4,143 374 9.0% • 7 Service Offices (Total 181) Claims Cost 11,747 10,674 1,073 10.1% Technical Result 800 538 261 48.6% • 35
Slide 9: Costs Ratios
Costs Ratios Acquisition Claims Operating Combined 9
Slide 10: Investment Income
Investment Income Portfolio by Type of Risk Portfolio by Type of Issuer Return on Investments Equities (MM MXN) 4Q15 2015 Gain from Equities 155 284 Average Portfolio 3,068 2,801 Annualized Yield 20.1% 10.1% Naftrac Yield 4.0% (0.1%) IRT Yield 5.0% 1.5% 10
Slide 11: Investment Income
Investment Income *Mexican Stock Exchange Total Return Index 11
Slide 12: Pension Funds – 2015 Returns
Pension Funds – 2015 Returns SB1 Rdtto SB2 Rdtto SB3 Rdtto SB4 Rdtto Quálitas 5.39% Quálitas 5.39% Quálitas 5.39% Quálitas 5.39% Pensionissste 1.88% Principal 2.85% Principal 3.28% Pensionissste 3.15% Principal 1.64% Pensionissste 2.46% Pensionissste 2.89% Coppel 3.13% XXI Banorte 1.34% Azteca 2.35%
Slide 13: Solvency Margin
Solvency Margin Minimum Solvency Margin Capital Solvency Margin Ratio Requirement* Qmx 3,087 1,075 34.8% Qsv 49 16 31.5% Qcr 83 1 0.7% QUIC 259 114 44.0% Total 3,479 1,205 QC Cash 40 QC 3,479 1,245 35.8% FX Peso-USD December 2015: 17.2487 FX Colon-USD December 2015: 531.94 *Minimum equity requiremen
Slide 14: Solvency II
Solvency II NA: Not Applicable 14
Slide 15: Automobile Insurance Industry
Automobile Insurance Industry Written Market Share Growth Written Earned Growth Earned Company Premiums (written) 2015 - 1014 Premiums 2015 - 2014 1 Qualitas 19,168 25.3% 12.4% 16,855 10.4% 2 G.N.P. 10,803 14.3% 26.3% 9,407 17.4% 3 AXA Seguros 9,162 12.1% (4.6%) 9,899 (3.9%) 4 Aba/Seguros 5,260 7.0%
Slide 16: Automobile Insurance Industry
Automobile Insurance Industry Operating Investment Net Claims Combined Company Result Income Result Ratio Ratio 1 Qualitas 47 862 619 70% 96% 2 G.N.P. (221) 267 102 64% 97% 3 AXA Seguros (651) 469 (163) 76% 109% 4 Aba/Seguros (79) 194 304 70% 104% 5 Mapfre México (170) 117 (50) 64% 100% LARGE (1,075
Slide 17: Mandatory Insurance
Mandatory Insurance Federal Roads, Bridges and MXN Mexico City's Mobility Law Transportation Law Effective date • January 2016 • September 2014 • Not specified • $50,000 for material • Sum insured proposed by damages coverage Coverage AMIS: $250,000 • $100,000 for third party • Public Service: 2,500
Slide 18: Cash and Investments per Share
Cash and Investments per Share Cash and Investments per Share *CAGR: 16.0% *CAGR: Compound Annual Growth Rate 18
Slide 19: Guidance 2016
Guidance 2016 ∆% vs 2015 Written Premiums 8 - 10% Earned Premiums 8 - 10% Acquisition Ratio 23 - 24% Claims Ratio 68% Operating Ratio 4% Combined Ratio 96% Operating Margin 1 -1.5% Investment Income CT 28 + 200 pb 19
Slide 20: Our Analysts
Our Analysts Institution Analyst E-mail Actinver Enrique Mendoza [email protected] BBVA Research Germán Velasco [email protected] Grupo Bursátil Mexicano Luis Willard [email protected] Nau Securities Iñigo Vega [email protected] Signum Research Ana Tellería ana.telleria@si
Slide 21: Disclaimer
Disclaimer Information discussed on today’s webcast may include forward-looking statements regarding the company’s results and prospects, which are subject to risks and uncertainty. Actual results may differ materially from what is discussed here today, and the Company cautions you not to place undu
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