3Q - 2017 Results Presentation
D I S C L A I M E R The forward-looking statements contained herein are based on Management’s current forecasts and outlook For better illustration and decision-making, figures for Suramericana, SURA Asset Management and its subsidiaries are administrative rather than accountant, and therefore may differ from those presented to entities officers. Thus, Grupo de Inversiones Suramericana assumes no obligation to update or correct the information contained in this presentation. 2
A GEN D A Grupo SURA Consolidated Results Suramericana Insurance, Trends and Risk Management SURA Asset Management Pensions, Savings and Asset Management 3
Grupo SURA Consolidated Results 3Q 2017 4
H I G H L I G H T S » GRUPO SURA • Total YTD revenues of COP 15.2 trillion (+16.3%). I N V E S T M E N T P O R T F O L I O * • Driven by positive dynamics in written premiums (+23.6%), revenues on services rendered (21.0%) and equity method (+18.7%). Other 1% • Positive exchange rate impact in 2016 of COP 98,473 MM contrasts with COP -89,227 Grupo Argos 18% Bancolombia MM in 2017. 28% • Net income attributable to shareholders: COP 943,607 MM (-26.6%) YTD and COP 407,543 MM (-11.6%) in the quarter. COP 27.8 • Excluding exchange rate impact and non-recurring expenses -0.3% YTD. Grupo Nutresa trillion 16% Sura Asset Management Events subsequent to Q3 Suramericana 26% 12% • The portfolio optimization process continues with the sale of SURA AM’s Life Insurance operation in Mexico to Suramericana. • Fitch and S&P affirmed Grupo SURA’s BBB credit rating. • Awards and recognitions: ALAS20, Merco, MILA. *Considering Suramericana and SURA Asset Management at 1x P/BV, listed companies at market value. 5
S TAT E M E N T O F F I N A N C I A L P O S I T I O N » CONSOLIDATED Assets » 71,613,016 67,817,041 dic-16 67,817,041 + 3,795,974 46,121,723 42,421,214 5.6% sep-17 71,613,016 0. 0 10 , 00, 000. 0 20 , 00 0, 000. 0 30 , 00 0, 000. 0 , 00 40 0, 000. 0 50 , 00 0, 000. 0 60 , 00 0, 000. 0 70 , 00, 000. 0 80 , 00, 000. 0 25,395,827 sep-17 Var. $MM %Change 25,491,293 Investments 25,230,534 (967,707) -3.7% Investments in related companies 18,505,581 361,253 2.0% Accounts receivable 5,890,775 379,671 6.9% Available-for-sale non-current assets 4,768,226 4,767,547 dic-16 dic-16 sep-17 sep-17 Goodwill 4,642,037 135,874 3.0% Identified intangible assets 4,393,784 (90,323) -2.0% Assets Equity Liabilities Technical insurance reserves - reinsurers 2,920,397 263,641 9.9% Other 5,261,681 (1,053,981) -16.7% Total Assets 71,613,016 3,795,974 5.6% Figures in COP million 6
S TAT E M E N T O F F I N A N C I A L P O S I T I O N » CONSOLIDATED Liabilities » dic-16 42,421,214 + 3,700,509 Total Shareholder’s Equity » 8.7% sep-17 46,121,723 dic-16 25,395,827 95,466 0 0. 70 , 00, 000. 0 0.4% sep-17 Var. $MM %Change sep-17 25,491,293 Technical reserves 24,874,098 (1,115,517) -4.3% Financial liabilities + Issued securities 10,229,188 484,786 5.0% 0. 0 10 , 00, 000. 0 20 , 00, 000. 0 30 , 00, 000. 0 40 , 00, 000. 0 50 , 00, 000. 0 60 , 00, 000. 0 70 , 00, 000. 0 Available-for-sale non-current liabilities 4,117,985 4,117,985 Accounts payable 2,702,756 28,462 1.1% Deferred tax 2,106,824 (10,847) -0.5% Other 2,090,872 195,639 10.3% Total Liabilities 46,121,723 3,700,509 8.7% Figures in COP million 7
S TAT E M E N T O F F I N A N C I A L P O S I T I O N » DEBT COP 75.3% DEBT Grupo SURA’s unconsolidated Financial EXPOSURE TO Debt: COP 5.06 trillion* CURRENCIES*** USD 24.7% CONSOLIDATED FINANCIAL LIABILITIES» Preferred Repos Dividends Suramericana 2% 12% 4% Derivatives 2% 9,744,402 dec-16 Banks 20% DEBT BY TYPE OF Grupo SURA + 484,786 and other SURA AM COMPANY Bonds DEBT subsidiaries 5.0% 32% 72% 56% 10,229,188 sep-17 7, 00 0, 000 . 0 7, 50 0, 000 . 0 8, 00 0, 000 . 0 50 8, 0, 000 . 0 00 9, 0, 000 . 0 9, 50 0, 000 . 0 10 , 00, 00 0. 0 , 5 10 00, 0. 00 0 11 , 00, 0. 00 0 11 00, , 5 00 0 0. Figures in COP million * Excludes financial derivatives and preferred dividends; Includes wholly owned subsidiaries **Includes hedges at the agreed rates 8
S TAT E M E N T O F C O M P R E H E N S I V E I N C O M E » CONSOLIDATED Total Revenues» Total Expenses » Net Income attributable to shareholders» sep-16 sep-16 13,034,346 sep-16 11,308,604 1,285,944 + 2,118,348 + 2,404,853 -342,338 16.3% 21.3% -26.6% sep-17 sep-17 sep-17 15,152,694 13,713,456 943,607 11 , 5 00, 00 12 , 00, 00 12 , 5 00, 00 13 , 00, 00 13 , 5 00, 00 14 , 00, 00 14 , 5 00, 00 15 , 00, 00 15 , 5 00, 00 0 0 2, 00 0, 000 4, 0, 00 000 6, 00 000 0, 00 8, 0, 000 10 00, , 0 00 0 12 , 00, 00 0 14 , 00, 00 0 16 , 00, 00 0 0. 0 1, 00 000 0, . 0 2, 00 0, 000 . 0 3, 00 0, 000 . 0 4, 0, 00 000 . 0 5, 00 0, 000 . 0 6, 00 0, 000 . 0 7, 00 0, 000 . 0 sep-17 Var. $ %Var % / Revenues sep-17 Var. $ %Var % / Revenues Retained premiums (net) 8,857,680 1,575,728 21.6% 58.5% Retained claims 4,733,448 1,233,715 35.3% 31.2% Revenues on services rendered 2,055,714 356,456 21.0% 13.6% Administrative expense 2,536,847 349,165 16.0% 16.7% Investment income 1,445,857 147,409 11.4% 9.5% Costs of services rendered 1,943,291 330,674 20.5% 12.8% Commission income 1,727,985 127,655 8.0% 11.4% Adjustments to reserves 1,501,950 (193,905) -11.4% 9.9% Revenues via equity method 765,203 120,813 18.7% 5.0% Brokerage commissions 1,405,439 465,381 49.5% 9.3% Exchange difference (net) (23,969) (300,011) -0.2% Interest 476,374 102,803 27.5% 3.1% Other 324,224 90,297 38.6% 2.1% Other 1,116,108 117,020 11.7% 7.4% Total Revenues 15,152,694 2,118,348 16.3% 100.0% Total Expenses 13,713,456 2,404,853 21.3% 90.5% Figures in COP million 9
S TAT E M E N T O F C O M P R E H E N S I V E I N C O M E » CONSOLIDATED Grupo SURA and Other* 1,495,276 77,105 (40,919) (69,574) (187,699) (821) (62,739) Net Income excluding 1,097,442 (71,563) (41,624) Var$ Fx Impact Corporate Segment**: Grupo SURA (187,699) SURA AM (88,944) Suramericana (29,734) Other Non-Recurring Expenses (87,866) -0.3% ∆ Net Income ∆ Net Income ∆ GS Equity ∆ GS Fx ∆ GS Admin. ∆ GS Interest ∆ Other GS ∆ Taxes Net Income Net Income 2016 Suramericana SURA AM Method Impact Expenses*** 2017 *Grupo SURA and Other (GS) includes Grupo SURA Grupo SURA Finance, Grupo SURA Panamá, Habitat and Arus. **Fx Impact Corporate Segment = Exchange difference + Gains (losses) at fair value (valuation of hedging derivatives). Non recurring charges include provision of COP 37,000 MM related to a conciliation process with DIAN (tax authority), a provision of COP 42,939 MM for a fine at Afore SURA in México and COP 7,927 MM for the deferred tax associated to the sale of Seguros SURA Perú. ***GS Admin. Expenses includes Administrative Expenses, Employee Benefits and Fees at Grupo SURA and Other level. Figures in COP million 10
SURA INSURANCE, TRENDS AND RISK MANAGEMENT SURAMERICANA S.A CONSOLIDATED RESULTS 11
H I G H L I G H T S » SURAMERICANA % WRITTEN PREM IUMS • Consolidated premiums of COP 8.7 tn, growing 30.9%, driven by acquired operations Uruguay El Salvador and organic growth (+12.1%). Rep. Dom. 2% 3% 2% Panamá • Operating segments with double-digit growth in revenues and profits: 4% México • Life: dynamism in premiums (+14.3%) and improvement in efficiency (-81 bps), 5% partially offset the decrease in investment income. Brasil 4% • Non-Life: growth in all lines of income (+ 47.7% YTD). Claims ratio affected by Argentina Colombia SOAT, Fire and Compliance. 10% 55% • Health: net profit increases 98% driven by good revenue dynamics and improved efficiency. Chile 15% • Net income: reached COP 392,924 MM, decreasing 9.4%; impacted mainly by higher amortizations and decrease in investment income. Other Life ARL (worker s 2% comp) ADJUSTED ROE* ROTE 10% Auto Health 13.0% 18.5% 8% 22% Pension 6% Events subsequent to Q3 Fire Group Life • New reinsurance structure limited the negative impact of natural events in Mexico and 11% 7% the Caribbean. SOAT • Competitive position in Mexico is strengthened with the acquisition of SURA AM’s Life 3% Individual Life 6% Insurance operation for USD 20.6 MM. Transport Other Non-Life 4% 21% 12 ** Adjusted LTM ROE with net income adjusted for amortization of intangibles, divided by average equity.
A C Q U I S I T I O N O F S E G U R O S D E V I D A S U R A M E X I C O » Transaction Profile Geographic Coverage Product Portfolio Presence through 18 Combined SURA México Value: US $20.6 million commercial branches Personal Other Accidents 7% Sura Mexico Life Insurance 3% Medical Expenses • Written Premiums*: 6% Group Life USD 63 million 34% Transport 8% • Insurance Policies**: Group Life: 2 million insured through Engineering 2,700 policies 9% Temporary: 33,000 individual policies Universal: 44 individual policies Auto P&C 13% “ Dotales ” and “ Hogar Previsor ”: 600 and 20% Seguros SURA AM 6,400 policies, respectively Presence through both companies 28% increase in the company´s GWP with 2017 proforma figures Seguros SURA *Forecasted figures for year end 2017 **Figures as of December 2016 13
Recommend
More recommend
