SAHAM Finances-Overview October 2016 1
Ten year evolution (2005-2015) 2005 2015 USD 1.04 billion USD 120 million in Turnover ACQUISITIONS : in Turnover 3 000 Employees 400 Employees • CNIA Assurance • Assurances Es- Saada 700 sales points • Groupe Colina 110 Sales points • Lia Insurance • Mercantile 26 Countries 1 Country • GAAS • Corar AG 1 st insurance 6 th insurance • Unitrust Insurance Group in Africa company (excluding south africa) in Morocco Client ents 19/10/2016 2
Solid Shareholders SAHAM Group increased its stake in the capital of SAHAM Finances up to 70%. In parallel, Sanlam, leader in financial services in Africa, through its subsidiaries Sanlam Emerging Market (SEM) and Santam acquired a minority stake of 30%. 19/10/2016 3
Our vision Contributing to building a mature and resilient insurance industry in the continent. True African company with a unique footprint. 19/10/2016 4
Strategic values Become the key player and one of the market leaders Top 5 in each country where SAHAM Finances is located Redesign of Achieve profitable Provide the best Innovative and Offer a full range of products and growth by applying quality service at integrated Corporate implementation of product?(assistance, underwriting product, (health, international Check Auto, …) bancassurance marine, fire,…) guidelines. standards level. agreements. 19/10/2016 5
Key figures 2015 USD 1.04 billion turnover Sales es 3 000 staff 700 sales points 26 Countries Countries es 34 Companies 19/10/2016 6
Structure of the division INSURANCE DIVISIO ISION Insu surance ce Asista stance ce TPA Reins Re insurance ce Reinsurance : optimizing the Health Third party Insurance: pan African insurance Assistance : SAHAM Assistance, reinsurance needs of its leader with preference in 26 is developing its activity on the Administration : subsidiaries while deploying the countries. continent. First Motor assistance presence in 8 countries best underwriting practices. company in Africa. 19/10/2016 7
SAHAM Finances and Sanlam’s presence in emerging markets 19/10/2016 8
Positioning Life Non Life N°1 N°1 N°1 N°1 Benin Côte d’Ivoire Morocco Mali Top 3 Top 3 Côte d’Ivoire Lebanon Mali Burkina Faso Rwanda Angola Gabon Togo < Top 3 < Top 3 Benin Ghana Cameroon Cameroun Ghana Guinea Guinea Kenya Lebanon Kenya Madagascar Maroc Niger Madagascar Senegal Rwanda Nigeria Congo 19/10/2016 9
Highlights More than 4 million people covered, Diversified offering: • ground-up coverage HEALTHCARE RE • compulsory insurance scheme • optional health insurance Strong experience in affinity business. Leading motor insurer in Morocco and Côte d’Ivoire , MOTOR Over 1 million customers insured , Complete product range. CORPORATE Ability to support almost all industries with strong partners Multinational programs 19/10/2016 10
Innovative services for a differentiated and competitive strategy CAE (Check Auto Express) • Record number of compensation claims. TPA • Secure and optimized management flow. ASSISTANCE • 1 st assistance network in Africa. BPO • Industrialization of mass-market insurance processes achieved through outsourcing. 19/10/2016 11
Innovativ ative e servi vices es CAE (CHECK AUTO EXPRESS-MAROC) Mission To compensate insured motor in less than 90 minutes . PRINCIPLE • The damaged vehicle is appraised in SAHAM Assurance center « CAE ». • The amount of compensation is estimated using a database (cost of parts, cost of labor, repair time) An estimated amount is suggested to the insured motorist. • If accepted, the check is printed on site and handed over to the client. LIMITATIONS •Claims below 20,000 MAD. 19/10/2016 12
SAHAM Assistance: Innovative guarantees Over 6 million 300 SAHAM M ASSIS ISTANCE NCE IN 2015 Beneficiaries Employees Car insurance Assista stance ce Medical Assistance - Over 5 million on beneficiaries - Over 1.1 million on Po Policyhol holder ers Distributed through insurance Prestigious references: Mohamed companies • An internal structure that aims to assist our clients in VI Foundation , SAMU El jadida, Ministry of Interior (5 bodies ) case of emergency. • 100 operators available 24 / 7. 4 4 ranges es of produ ducts Travel Assistance Diaspora Assistance • Abroad, SAHAM Assistance is supported by the - 245,000 insured ed client nts - 300,000 insured ed client nts Mondial Assistance Network with over 400,000 service providers worldwide. Distributed through intermediaries - Distributed via banking or banking networks networks Medical 25,0 ,000 Claims ims/yea ear • 90,000 000 Claims/ye year • Motor or 19/10/2016 13
Insurance : A multi-channel distribution BANC NCASSU ASSURANC RANCE TIED AGENT NTS • Selling expertise via the banking networks: • First network of general insurance brokers > Africa: sale of our insurance products with 700 sales point across Africa. (Motor, Retirement, Death) through the • Ability to open franchised agencies: African Ecobank network in 8 countries. Morocco: more than 50 agencies per year > Lebanon: first partner of the leading (training, planning, deployment ...). private bank (Audi Bank). Motor, • Expertise in facilitating the agency network: retirement, multirisk household-insurance Regional / local organization, weekly policy offerings. monitoring. MOBILE LE SERVIC RVICES BRO ROKE KERA RAGE • 80% of sales in Africa stemming from • Sale of our life insurance products through Brokerage. mobile apps in partnership with telecom • Privileged and historical relationships with the companies. biggest firms: Ascoma, Gras Savoye, AON... • Successful experience in Côte d’Ivoire . 19/10/2016 14
Distribution of turnover in 2015 19/10/2016 15
Net profit 2015 Amounts in MMAD* 2015 2014 Gross Written Premium** 9.716 8.141 Shareholders Equity 7.153 6.301 Return on Equity 12% 11% Average Investment yield 5,2% 5,8% Net Profit 795 658 Net Profit Group Share 483 439 Combined Ratio 94,5% 95% * SAHAM Finances Consolidated figures according to IFRS ** 433 MMAD of external growth and 14% of organic growth 19/10/2016 16
Net profit 2015 Net Profit in MMAD* 2015 2014 Saham Assurance Maroc 338 341 SAHAM Angola Seguros 77 57 LIA Insurance 140 112 SAHAM Assurance Central and West Africa 143 108 Other companies 322 159 Net Profit of insurance and reinsurance business 1 020 778 Net result of holding companies (225) (119) Consolidated Net Profit 795 658 Profit attributable to non controlling interest 312 219 Net Profit – Group Share 483 439 * SAHAM Finances Consolidated figures according to IFRS 19/10/2016 17
Future growth potential New compulsory insurance, strengthening controls, legal framework evolving in all countries Effective partnerships with banks Development of specific low income products Use of advanced (micro insurance) technologies (mobile, web based customer interactions) to increase the potential, to reduce fraud and to improve risks mitigation 19/10/2016 18
Enterprise Risk Management Framework Organization & Governance The group’s internal control and risk management system is largely inspired by the COSO 2 framework. As such, its main purpose is to provide a reasonable assurance to the top management and the board of directors regarding the achievement of our group’s objectives in the following categories: the effectiveness and efficiency of operations, including performance and profitability goals and safeguarding of the group’s assets; the reliability of the data, especially the financial statements and reporting; the compliance with laws and regulations. 1 Subsidiaries’ business functions own risks: It consists of three lines of defense : 1. They undertake controls as described in procedures and permanent control manuals 2. They manage risks every day optimizing risk/return 3. They mitigate risks where necessary 2 Risk management and central support functions provide and maintain a consistent risk & control framework and ensure critical risks are monitored : “Three 1. develop & implement Enterprise Risk Management tools and methodology lines of 2. assist subsidiaries and ensure they identify, measure and assess risks 3. establish key controls and ensure critical risks are under control defense” 3 Internal audit provides independent oversight and assurance : 1. assesses the effectiveness of the risk framework 2. builds on risks identified by Risk Management for planning its activities 3. independently monitors effectiveness of controls 19/10/2016 19
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