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Slayt Başlığı INVESTOR PRESENTATION 2014Q3 Contents Non-life Sector Profile 3 Outline of the Company 11 Financial Highlights 23 Appendix 31 2 • Non-life Sector Profile • Outline of the company • Financial highlights 3 Premium Production (mn TL) Number of Companies (09.14) Number of Foreign Shared Companies Non Life 22,2% Non Life 25 Non Life 37 Life 24.230 Life 26 Life 18 Total 15,5% Reinsurance - 20.834 Reinsurance 1 19.827 Total 64 Total 43 17.173 17.116 * 35 of 43 company has more than 50% foreign shares. 14.487 Premium Production of the Sector (mn TRY) (09.14) Premium Share 3.396 Non Life 16.622 %88 2.686 2.711 Life 2.370 %12 Total 18.992 %100 12.11 12.12 12.13 18,1% 21,7% 4 SOURCE: Association of Insurance Companies, Undersecretariat of treasury annual report Remarks About the Sector 2011 2012 2013 Change in GDP and GWP Inflation Rates (%) 10,5 6,2 7,4 21,3 21,7 18,1 GDP Change (%) 8,8 2,1 4,0 GDP (Per Person) ($) 10.444 10.459 10.782 8,8 GDP (Per Person) (TRY) 17.510 18.927 23.012 4,0 Premium Increase (%) 2,1 21,3 18,1 21,7 (non life) 2011 2012 2013 Premium Increase (%) 35,6 16,0 23,0 GDP Change Non Life Premium Production Change (Anadolu) 5 SOURCE: Association of Insurance Companies, turkstat Mandatory Policies in Turkey Non-insured ratio 12,00 70,0% 63,4% 10,00 9,59 60,0% 55,1% 18,4 million of vehicles and 9,6 million 50,0% 8,00 automobiles in Turkey. 40,0% 6,00 36,7% of houses had a mandatory 30,0% earthquake policy in 2013 4,00 21,5% 2,99 21,3% 2,78 20,0% 16,9% 2,00 13,2% 1,59 23% of all vehicles do not have 8,9% 0,77 10,0% 0,42 0,21 mandatory MTPL policy 0,00 0,0% automobile mini-bus bus pick-up van truck tractor motorbike Number of Mandatory Earthquake Policies (million) 6,03 4,79 3,73 3,43 3,31 2009 2010 2011 2012 2013 6 SOURCE: turkstat, State Planning Organization, Association of Insurance Companies, bkm, tramer, TCIP Foreign Capital with M&A’s Company Market Share Foreign Capital Stake Transaction Price Year Başak Sigorta 5,1% 56,7% Groupama 268 Million USD 2006 Başak Emeklilik 13,3% 41,0% Emek Hayat - Global Equities Management 100,0% 2 Million TRY 2006 İhlas Sigorta 1,4% HDI International 100,0% 17 Million Euro 2006 Şeker Sigorta 1,6% Liberty Mutual Group 63,9% - 2006 İsviçre Sigorta 6,9% Ergo Group 75,0% - 2006 İsviçre Hayat 1,8% Ergo Group 67,5% - 2006 Global Hayat 0,2% Denizbank-Dexia 99,6% 2,7 Million Euro 2007 Ray Sigorta 3,2% TBIH 58,2% 81 Million USD 2007 Garanti Sigorta 4,5% Eureko 80,0% 365 Million Euro 2007 Garanti Emeklilik 7,1% Eureko 15,0% 100 Million Euro 2007 Genel Sigorta 3,5% Mapfre 80,0% 285 Million Euro 2007 Genel Yaşam 1,7% Mapfre Axa Oyak Sigorta 12,2% 35,5% Axa 525 Million USD 2008 Axa Oyak Hayat 4,7% 50,0% Koç Allianz 9,1% Allianz SE 43,4% 248 Million Euro 2008 Koç Allianz Hayat 5,2% Allianz SE 49,0% 125 Million Euro 2008 Güven Sigota 2,4% 99,0% Groupama 180 Million Euro 2008 Güven Hayat 1,2% 99,0% Fiba Sigorta 2,6% NKSJ 93,4% 307 Million USD 2010 Ak Sigorta 7,4% Ageas 31,0% 220 Million USD 2011 Deniz Emeklilik 4,5% MetLife 99,9% 162 Million Euro 2011 Finans Emeklilik 5,2% Cigna Nederland 51,0% 85 Million Euro 2012 7 Non Life Premium Figures (2013) Premium / GDP (%) Premium Per Person ($) World 2,8 285 USA 4,3 2.296 UK 2,8 1.087 Switzerland 4,4 3.490 Central and Eastern Europe 1,4 170 Turkey 1,3 143 350 16% 20% 14% 305 300 15% 8% 8% 10% 250 6% 215 219 5% 200 Premium($) 165 163 0% 143 150 138 Premium(TRY) 118 123 108 106 114 -5% 102 93 Change ($) 100 -10% 50 -14% -15% 0 -20% 2007 2008 2009 2010 2011 2012 2013 8 SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2014 Top Ten Companies in the Sector (09.2014) Anadolu; 13,3% Premium Production Non - Life Companies Market Share (mn TRY) Other; 28,3% Anadolu 2.217,7 13,3% Axa ; 12,8% Axa 2.123,7 12,8% Allianz 1.495,1 9,0% Ak 1.353,8 8,1% Mapfre Genel 1.107,7 6,7% Gunes 882,9 5,3% Ziraat ; 3,3% Allianz; 9,0% Yapı Kredi 810,6 4,9% Groupama 808,5 4,9% Eureko; 3,5% Eureko 581,5 3,5% Ziraat 540,7 3,3% Groupama; Ak ; 8,1% 4,9% Top 10 Companies 11.922,3 71,7% Yapı Kredi; 4,9% Mapfre Genel ; Other 4.699,5 28,3% Gunes; 5,3% 6,7% TOTAL 16.621,7 100,0% Company Market Share during M&A Foreign Capital Stake Transaction Price Yapı Kredi 7,2% Allianz 93,9% 684 mn Euro* * %19,9 share of YK Pension sold back to YK Bank for a fee of 80,5 mn Euro 9 SOURCE: Association of Insurance Companies, Non Life Companies Premium Production (mn TRY) Type of Coverage 09.2014 09.2013 Change (%) Share (09.2014) (%) MOD 4.051,8 3.945,7 2,7 24,4 MTPL 3.640,1 3.697,4 -1,6 21,9 Fire and natural disaster 2.765,5 2.331,0 18,6 16,6 Health 2.141,6 1.826,0 17,3 12,9 General losses 1.914,7 1.698,9 12,7 11,5 Accident 751,1 633,3 18,6 4,5 General liability 481,0 390,2 23,3 2,9 Other 875,8 730,8 19,9 5,3 Total 16.621,7 15.253,2 9,0 100,0 10 SOURCE: Association of Insurance Companies, Bancassurance • Non-life Sector Profile • Outline of the company Profitability Sound pricing • Financial highlights Lower combined ratios 11 Few Remarks About the Company VISION To make Anadolu Sigorta the insurance brand preferred by everyone who needs insurance. To achieve a strength that makes it a reference point in the worldwide insurance industry as well. MISSION To be a pioneer, to create a broad public awareness of insurance To implement a customer-focused approach, to increase the financial strength To enhance the value of the Company FACTS Founded by Türkiye İşbankası A.Ş. in 1925 (89’th anniversary) First National Insurance Company Main activity: Non-life insurance (until 1991, both life and non-life) 12 Shareholder Structure Area of activity Other 43% Accident General losses Land vehicles liability Sickness\Health (MTPL) Land vehicles (MOD) Air vehicles liability Water vehicles Industrial vehicles liability Air vehicles General liability Water vehicles Credit Marine Financial loss Milli Fire and natural Legal protection Reasürans disaster 57% %77 of Milli Reasürans is owned by T. İş Bankası A.Ş. As of 09.14; • Paid-in capital 500 million TRY • MCap 695 million TRY • Free Floating Ratio ~48% 13 Distribution Channels (09.2014) Headquarter • Moved to new building in Kavacık in 2013 December 9 regional branches • İstanbul (2), Ankara, Antalya, İzmir, Adana, Bursa, around Turkey Samsun, Trabzon Overseas • North Cyprus 2544 Professional • ~25% working exclusively with Agencies Anadolu 1336 Işbank • Working exclusively with Anadolu Branches • 194 MSU (direct sales staff) working 14 Distribution Channels – Bancassurance 09.2014 Broker; 9,8% İşbank; 10,1% According to September-2014 Indirect; 6,2% results bancassurance premium increased %32 when one-off engineering policy deducted from Direct; 1,4% september-2013 Agencies; 72,5% Total Premium Production 23% Işbank Premium Production 32% 16% 22% 2013 2013 2012 269m 2012 2.749m 2011 204m 2011 2.234m 167m 1.926m 15 Premium Distribution By Regions (09.2014) Marmara; 58,7% Black Sea; 5,5% East Anatolia; 2,5% Middle Anatolia;14,9% Aegean; 8,0% South East Anatolia; 3,3% Mediterranean; 7,1% 16 Premium Production (09.2014) (mn TRY) Other 20% Mod 28% Sickness \ Health 9% Mtpl 28% Fire and natural disaster Branch 09.14 09.13 Change (%) 15% Mod 616.296 600.473 2,6 Mtpl 612.230 485.090 26,2 Fire and natural disaster 339.330 282.563 20,1 Health 197.050 148.978 32,3 Other 452.988 402.967 12,4 Total 2.217.894 1.920.070 15,5 17 Market Rank (1st) Market Rank (2nd) Market Rank (Other) • Mod (16,9%) • Mtpl (15,1%) • Health (9,2%) • Water vehicles (41,9%) • Fire and natural • General losses (9,4%) • Marine (12,1%) disaster (12,3%) • Legal protection • General liability • Air vehicles (38,8%) (10,0%) (17,2%) • General losses (11,4%) • Financial loss (6,5%) • Air vehicles (39,8%) • Accident (7,9%) • Air vehicles liability • Credit (1%) (46,7%) Total Market Share for Anadolu in 3Q14 is; 13,3% in 1st rank 18 Premium Per Policy (3Q13-3Q14) – Sound Pricing MOD # of Policy increase GWP increase Premium Per Policy 2% 3% 1% (3Q14 =>450.000; 3Q14=>458.000) (3Q13 =>600m; 3Q14=>616m) (3Q13=>1.334;3Q14=>1.345) Premium per policy increased %32 in 2013 in MOD MTPL # of Policy decrease GWP increase Premium Per Policy increase 5% 22% 29% (3Q13 =>1.145.000; 3Q14=>1.083.000) (3Q13 =>424m; 3Q14=>517m) (3Q14=>370;3Q14=>477) 19 Combined Ratio - branches MOD Fire & Nat.
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