Ergebnisse zum 31. Dezember 2023 Analysten-Präsentation (in englischer Sprache)
FY 2023 Results
Agenda
1 CEO highlights
2 CFO highlights
3 Capital management
4 Segments
5 Group outlook
6 Appendix
2 FY 2023 Results |
1 2023 - Another record year …
|
Record result |
High quality earnings |
Increased dividend |
|
Net income |
Resiliency2 |
Dividend per share4 |
||
|
in EURm |
in EURm |
in EUR |
||
|
1,5811 |
> 3,5003 |
2.35 |
||
Ahead of schedule for 2025 strategic targets
1 IFRS 4 2022:
3 Undiscounted;
3 FY 2023 Results |
1 … with strong
|
Industrial Lines |
|
Retail |
Combined ratio
91.5 %
in LatAm
2
Retuon equity
11 %
|
Underwriting champion |
Top player in LatAm |
Stable profit contributor |
4 FY 2023 Results |
1 … and a well diversified business with a strong B2B focus
Insurance revenue mix
|
Diversification |
Type of business |
Retail2
|
Rest of World ~85 % |
B2B1 |
~75 % |
|
~85 % outside |
~75 % in hard B2B1 markets |
Note: Percentages are calculated in percent of Group insurance revenue, adjusted for Corporate Operations and Consolidation
1 B2B: Industrial Lines (~20%) and Reinsurance (~55%) | 2 Retail:
5 FY 2023 Results |
1 A promise is a promise - Outlook 2023 outperformed …
|
Insurance |
Group |
Return |
|
revenue |
net income |
on equity |
|
in EURbn |
in EURm |
|
> 42 |
43.21 |
|
Outlook 2023 |
2023 |
|
1,581 |
|
|
~ 1,4002 |
|
|
Outlook 2023 |
2023 |
|
16.6% |
|
|
> 10%3 |
|
|
Outlook 2023 |
2023 |
1 Insurance revenue growth 2023 versus 2022: +9% (currency-adjusted: +12%) | 2 Initial guidance as communicated with 2022 results; was lifted to >1,400 with 6M 2023 results and lifted to >1,500 with 9M 2023 results 3 Initial guidance as communicated with 2022 results; was lifted to >> 10% with 6M 2023 results
6 FY 2023 Results |
1 … with
|
|
Reinsurance |
Group |
|
insurance revenue |
insurance revenue |
insurance revenue |
|
in EURbn |
in EURbn |
in EURbn |
|
+16%1 |
|
|
19.722 |
|
|
~0.6 |
|
|
16.97 |
+13% |
|
organic |
|
|
19.12 |
|
|
2022 |
2023 |
|
+2%3 |
|
|
24.02 |
24.46 |
|
2022 |
2023 |
|
+9%4 |
|
|
43.24 |
|
|
39.65 |
|
|
2022 |
2023 |
Note:
1 Currency-adjusted: +20% | 2 Thereof ~
7 FY 2023 Results |
1 … now contributing almost 50% to group results …
|
|
|
|
revenue contribution |
net income contribution |
in EURm
|
+4%pts |
|
|
45% |
|
|
41% |
|
|
2022 |
2023 |
|
+3%pts |
|
|
43% |
46% |
|
2022 |
2023 |
|
(IFRS 41) |
Note:
1 IFRS 4 2022:
8 FY 2023 Results |
1… and lifting implied
Development of market capitalisation
In EURbn
|
18 |
||
|
16.71 |
||
|
16 |
||
|
+49% |
3.62 |
|
|
14 |
Primary |
|
Insurance |
|
P/E 232
4.6x
|
12 |
11.2 |
|||||
|
|
13.1 |
|||||
|
10 |
(50.2%) |
|||||
|
8 |
||||||
|
|
|
Source: FactSet | Note:
1 Market capitalisation as of
9 FY 2023 Results |
1 Disciplined strategy execution is key …
|
A |
Capital management |
B |
People management |
|||
- Focused divisional strategies
|
|
Reinsurance |
|||||||||||||
|
Industrial lines |
Retail |
|
||||||||||||
|
Staying Focused. Thinking Ahead. |
||||||||||||||
|
Focus Grow Accelerate |
||||||||||||||
- Sustainability
10 FY 2023 Results |
Attachments
Disclaimer
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