Good start to 2015 Quarterly financial statements as at 31 March 2015
|
|
- Bryce Cooper
- 8 years ago
- Views:
Transcription
1 plainpicture/fstop/ralf Hiemisch Good start to May 205 Jörg Schneider Torsten Oletzky Torsten Jeworrek
2 Agenda Munich Re (Group) 2 Munich Health 9 Business field ERGO 3 Reinsurance 9 Outlook 28 2
3 Munich Re (Group) Financial highlights Q 205 Good start to 205 Munich Re (Group) Q 205 NET RESULT 790m Good operating performance in core business supported by benign major losses in reinsurance SHAREHOLDERS' EQUITY 34.8bn (+4.7% vs. 3.2.) Sound capital position continuation of bn share buybacks until AGM 206 INVESTMENT RESULT RoI of 3.0% Solid return given low interest rates Economic ALM resulting in losses on derivatives, with usual portfolio turnover leading to disposal gains Reinsurance ERGO Munich Health NET RESULT 668m NET RESULT 99m NET RESULT 23m P-C LIFE P-C GERMANY REINSURANCE Combined ratio 92.3% Major-loss ratio 6.2% Technical result of 03m in line with pro-rata annual guidance Combined ratio 98.% above-average major losses L/H GERMANY Pleasing result INTERNATIONAL Combined ratio 98.7% Combined ratio 00.8% PRIMARY INSURANCE Combined ratio 98.0% 3
4 Munich Re (Group) Financial highlights Q 205 Net result Net result , Q 205 Q 204 Total Reinsurance Q2 Q3 Q4 Q Q2 Q3 Q4 Q ERGO Munich Health Technical result Investment result Other,27 92,992, Q 204 Q 205 Benign major losses in reinsurance Q 204:.0%, Q 205: 6.2% Q 204 Q 205 Solid performance given ongoing decline of interest rates Q 204 Q 205 Low tax rate (6.0%) and positive FX result ( 66m) Other non-operating result, goodwill impairments, net finance costs, taxes. 4
5 Munich Re (Group) Capitalisation IFRS capital position Equity Equity ,289 Consolidated result 790 Changes Dividend Unrealised gains/losses 2,035 Exchange rates,857 Share buy-backs 279 Other 6 Equity ,753 Capitalisation UNREALISED GAINS/LOSSES Fixed-interest securities,077m Non-fixed-interest securities 945m EXCHANGE RATES Positive FX contribution mainly driven by US$ bn % 7.5% % Other debt includes bank borrowings of Munich Re and other strategic debt. 2 Strategic debt (senior, subordinated and other debt) divided by total capital (strategic debt + equity) % 2.3% Q 205 Senior and other debt Subordinated debt Equity Debt leverage 2 (%) 5
6 Munich Re (Group) Investment portfolio Investment portfolio Investment portfolio Land and buildings 2.3 (2.4) Shares, equity funds and participating interests (5.2) % Fixed-interest securities 55.8 (55.5) Portfolio management Overall increase in market values driven by FX and lower interest rates Ongoing reduction of German government bonds to further improve diversification Miscellaneous (7.7) Loans 28.5 (29.2) TOTAL 25bn by cautiously increasing exposure in USA, Spain, Ireland and emerging markets Purchase of corporate bonds (esp. in USA) while reducing ABS/MBS Enlarged hedges keep equity quota stable at 4.2% Fair values as at ( ). 2 Net of hedges: 4.2% (4.3%). 3 Deposits retained on assumed reinsurance, deposits with banks, investment funds (excl. equities), derivatives and investments in renewable energies and gold. 6
7 Munich Re (Group) Investment result Investment result Investment result Q 205 Return % Q 204 Return % Regular income,80 3.0%, % Write-ups/write-downs 5 0.2% 5 0.0% Disposal gains/losses 997.6% % Derivatives % % Other income/expenses 2 0.2% 0.2% Investment result, %, % Total return % 6.2% 0.8% 3-month reinvestment yield Q % Q % Q % Write-ups/ write-downs Fixed income Q 205 Q Equities 3 9 Real estate 9 6 Other 4 20 Disposal gains/losses Q 205 Q 204 Fixed income Equities Other 8 8 Derivatives Q 205 Q 204 Fixed income Equities Commodities 68 7 Other 2 42 Annualised return on quarterly weighted investments (market values) in %. 2 Result from derivatives without regular income and other income/expenses. 3 Thereof interest-rate hedging ERGO: 209m/ 35m (gross/net). 7
8 Agenda Munich Re (Group) Munich Health Business field ERGO Reinsurance Outlook 8
9 Munich Health Premium development Munich Health Premium development Gross premiums written Segmental breakdown Q 204,50 Foreign-exchange effects 85 Reinsurance,073 (74%) ( 5.2%) Primary insurance 370 (26%) ( 0.3%) Divestments/investments Organic change 32 Q 205,443 Gross premiums written Regional breakdown % Q 204,50 Reinsurance 59 Asia and Australasia 2 (2) North America 53 (55) Primary insurance Q 205,443 Middle East/ Africa 0 (7) Europe 35 (36) DKV Luxembourg. 9
10 Munich Health Key figures Munich Health Key figures Net result Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q Q Technical result Investment result Other Q 204 Q Q 204 Q Q 204 Q 205 Other non-operating result, goodwill impairments, net finance costs, taxes. 0
11 Munich Health Munich Health Highlights Q 205 vs. Q 204 Gross premiums 3.9% Technical result Organic change 32m: Reduced share of large-volume deals, partly compensated for by organic growth in Middle East Positive FX effects ( 85m), mainly CAD Overall combined ratio up slightly to 00.4% due to change in cost allocation for administrative expenses in reinsurance Reinsurance combined ratio: 00.8% (+.%) Primary insurance combined ratio: 98.0% (.4%) Investment result +95.0% Other Higher regular income (e.g. Daman) and disposal gains mainly driven by associated companies Low tax rate of 4.2% Other non-operating result, goodwill impairments, net finance costs, taxes.
12 Agenda Munich Re (Group) Munich Health Business field ERGO Reinsurance Outlook 2
13 Business field ERGO Premium development Slight growth mainly in international business Gross premiums written Segmental breakdown Q 204 4,565 Foreign-exchange effects 2 L/H Germany 2,42 (53%) ( 2.4%) P-C Germany,93 (26%) (.%) Divestments/investments 0 Organic change 8 Q 205 4,585 International 980 (2%) ( 7.2%) Gross premiums written Regional breakdown % Q 204 4,565 Life/Health Germany 59 Rest of world 22 (2) Germany 78 (79) Property-casualty Germany 3 International 66 Q 205 4,585 3
14 Business field ERGO Key figures Nat cat losses and lower investment result net result lower in Q 205 Net result Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q Q Technical result Investment result Other,397, Q 204 Q 205 Q 204 Q 205 Q 204 Q 205 Other non-operating result, goodwill impairments, net finance costs, taxes. 4
15 Business field ERGO Property-casualty Germany Combined ratio affected by storm Niklas and large losses in commercial/industrial business Combined ratio Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Expense ratio Loss ratio % Gross premiums written Other 03 Legal protection 5 Personal accident 68 Fire/property TOTAL,93m 74.6 Motor 336 Liability 249 Combined ratio % Q 205 Motor Liability Fire/ prop. Personal acc. Legal prot. Other Total 5
16 Business field ERGO International property-casualty Combined ratio in seasonal range previous year s figure was extraordinary good Combined ratio Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Expense ratio Loss ratio % Gross premiums written Other 84 Legal protection 87 Greece 45 TOTAL 588m Poland 23 Turkey 59 Combined ratio % Q 205 Poland Turkey Greece Legal protection Other Total 6
17 Business field ERGO Business field ERGO Highlights Q 205 vs. Q 204 Total premiums +0.7% Life Germany: Lower business in force; higher savings premiums resulting from unit-linked business Health Germany: Decrease in comprehensive health cover; stable premium income in supplementary insurance P-C Germany: Increase mainly driven by fire/property and liability International: Good growth esp. in Poland, Turkey and UK; new company in Singapore Investment result 3.2% Impairment on HETA 04m/ 32m (gross/net) Losses on equity derivatives High contribution of interest-rate hedging Technical result 38.9% Net result 35.3% Slight improvement in life, decrease in health and direct business Seasonal effects and several large losses (e.g. storm Niklas) Technical and investment results with decreasing effect Lower tax expenditures in Life/Health Germany and International, higher taxes in Propertycasualty Germany 7
18 Agenda Munich Re (Group) Munich Health Business field ERGO Reinsurance Outlook 8
19 Reinsurance Premium development Reinsurance Premium development Gross premiums written Segmental breakdown Q 204 6,858 Foreign-exchange effects 73 Life 2,42 (34%) ( 2.6%) Property-casualty 4,598 (66%) ( 5.0%) Divestments/Investments 8 Organic change 597 Q 205 7,00 Gross premiums written Regional breakdown % Q 204 6,858 Life 65 Property-casualty 27 Q 205 7,00 Middle East/ Africa 3 (3) Latin America 4 (5) Asia and Australasia 5 (8) North America 48 (43) Europe 30 (3) 9
20 Reinsurance Life Key figures Reinsurance Life Key figures Net result Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q Q Technical result Investment result Other Q 204 Q 205 Q 204 Q 205 Q 204 Q 205 Other non-operating result, goodwill impairments, net finance costs, taxes. 20
21 Reinsurance Life Reinsurance Life Highlights Q 205 vs. Q 204 Gross premiums 2.6% Technical result 6.9% Positive FX effects of 97m driven by the US and Canadian dollars Organic change 262m chiefly due to reduced share of large volume deals Investment result +2.2% Regular income increased due to exchange rate development Higher disposal gains but higher losses on equity derivatives Technical result in line with full-year ambition of 400m All main markets performed largely as expected Ongoing solid contributions from Canada, Continental Europe and the UK, development in Asia once again very pleasing No further negative news emerged from US mortality and Australian disability business Insurance-related investment result Other Negative impact 42m mainly from GmxB Positive currency impact m Tax rate: 4.5% Other non-operating result, goodwill impairments, net finance costs, taxes. 2
22 Reinsurance Property-casualty Key figures Reinsurance Property-casualty Key figures Net result Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q Q Technical result Investment result Other Q 204 Q 205 Q 204 Q 205 Q 204 Q 205 Other non-operating result, goodwill impairments, net finance costs, taxes. 22
23 Reinsurance Property-casualty Reinsurance Property-casualty Highlights Q 205 vs. Q 204 Gross premiums +5.0% Technical result 20.0% Significant positive FX effects 534m mainly driven by USD Negative organic change 335m resulting from motor (prior-year effect), fire and credit business Acquisition of Australian entity Calliden ( 8m) Again low level of major nat cat losses, but higher than prior year Reduced basic loss ratio driven by positive currency effects overcompensating renewal impact Investment result 7.% Other Regular income increased due to higher contribution of foreign exchange investments Derivative result decreased mainly due to equity and commodity derivatives, compensated by disposal gains Improved non-operating result driven by FX 77m Tax rate: 5.7% Other non-operating result, goodwill impairments, net finance costs, taxes. 23
24 Reinsurance Property-casualty Combined ratio Combined ratio Actual Q 205 Combined ratio % Basic losses Nat cat losses Man-made losses Expense ratio Q Combined ratio % Major losses % Reserve releases basic losses Total Nat cat Man-made Q Avg. annual expectation ~2.0 ~8.5 ~3.5 %-points Q 205 ~65 ~4.0 Q2 Q3 Q4 Q Q2 Q3 Q4 Q Normalised combined ratio: ~98.% Mainly fire and motor; no corresponding sliding scale effects. 24
25 Reinsurance Property-casualty April renewals 205 Moderate price decline reflects cycle management and realisation of profitable new business opportunities April renewals 205 % , ,085 Change in premium +3.9% Thereof price movement ~ 2.6% Thereof change in exposure for our share +6.5% Total renewable from April Cancelled Renewed Decrease in renewable New business Estimated outcome Portfolio profitability continues to comfortably meet cost of capital Price movement is calculated on a wing-to-wing basis (including cancelled and new business) and risk-adjusted (including claims inflation/loss trend and portfolio mix effects). 25
26 Reinsurance Property-casualty Outlook July renewals Outlook July renewals Regional focus on North and Latin America, main renewal date in Australia Regional allocation of July renewals North America 33 % Worldwide 26 Outlook for July renewal Capacity and competition expected to remain high unless major losses occur Latin America TOTAL 2.bn Rest 6 Due to the relatively high nat cat share of ~2%, overall pricing trend will largely depend on nat cat prices Australia 7 Europe 7 Clear focus on profitability to maintain portfolio quality Asia, Pacific and Africa. 26
27 Agenda Munich Re (Group) Munich Health Business field ERGO Reinsurance Outlook 27
28 Outlook 205 Munich Re (Group) GROSS PREMIUMS WRITTEN 49 5bn (prev bn) RETURN ON INVESTMENT At least 3% NET RESULT 2.5 3bn Higher expectation due to FX Solid return given ongoing low-interest-rate environment RoRaC target of 5% after tax over the cycle to stand Reinsurance ERGO Munich Health COMBINED RATIO ~97% (prev. 98%) COMBINED RATIO Germany: ~93% International: ~97% COMBINED RATIO ~99% NET RESULT NET RESULT NET RESULT at least 2bn ~ 500m 50 00m By segment: Reinsurance ~ 28bn, ERGO 6 6.5bn, Munich Health ~ 5.5bn. 28
29 Disclaimer This presentation contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. Figures up to 200 are shown on a partly consolidated basis. "Partly consolidated" means before elimination of intra-group transactions across segments. ERGO new segmentation: before elimination of business with Munich Re, consolidated, after elimination of all intra-group business, new segmentation, earnings include share of holding costs. 29
plainpicture/fstop/ralf Hiemisch Annual guidance raised after strong half-year performance Quarterly financial statements as at 30 June 2015
plainpicture/fstop/ralf Hiemisch Annual guidance raised after strong half-year performance Munich, 6 August 2015 Agenda Introduction Nikolaus von Bomhard 2 Munich Re (Group) Jörg Schneider 6 Business field
More informationQUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011
QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER Media telephone conference 8 November Agenda Overview Financial highlights Jörg Schneider 2 Munich Re (Group) Jörg Schneider 4 Torsten Oletzky 13 Torsten
More informationGood start to 2015 Quarterly financial statements as at 31 March 2015
plainpicture/fstop/ralf Hiemisch Good start to 205 7 May 205 Jörg Schneider Torsten Jeworrek Agenda Financial reporting Q 205 Munich Re (Group) 2 ERGO 8 Munich Health 8 Reinsurance 22 Outlook 33 Backup
More informationQuarterly statement as at 31 March 2016
Source: Shutterstock [M] 10 May 2016 Jörg Schneider Agenda 1 Munich Re (Group) 2 2 ERGO 7 Munich Health 3 13 Reinsurance 4 15 Outlook 5 22 6 Backup 24 2 Munich Re (Group) Financial highlights Q1 2016 Q1
More informationHow To Profit From A Strong Performance
Rising dividend after good results 5 February 205 Torsten Jeworrek Jörg Schneider Munich Re (Group) Financial highlights Q4 204 Good annual profit of 3.2bn Dividend increasing to 7.75 per share Munich
More informationDELIVERING GROWTH IN BOTTOM-LINE RESULTS BALANCE SHEET PRESS CONFERENCE 2013
DELIVERING GROWTH IN BOTTOM-LINE RESULTS BALANCE SHEET PRESS CONFERENCE 2013 12 March 2013 Agenda Delivering growth in bottom-line results Nikolaus von Bomhard 2 Munich Re (Group) Jörg Schneider 8 Primary
More informationQuarterly result of 738m Profit guidance for 2014 to be exceeded slightly
Munich, 06 November Quarterly result of 738m Profit guidance for to be exceeded slightly Contact Media Relations Munich, Johanna Weber Tel.: +49 (89) 3891-2695 Fax: +49 (89) 3891-72695 jweber@munichre.com
More informationSTRONG Q3 RESULTS 2012 OUTLOOK RAISED QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2012. 7 November 2012. Jörg Schneider
STRONG Q3 RESULTS OUTLOOK RAISED QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 7 November Jörg Schneider Agenda Overview 2 Financial reporting Munich Re (Group) 5 Primary insurance 9 Munich Health
More informationAudiocast for Q2 2015. Jörg Schneider, CFO of Munich Re (Group) Ladies and Gentlemen,
Audiocast for Q2 2015 Jörg Schneider, CFO of Munich Re (Group) Ladies and Gentlemen, Welcome to the presentation of our Q2 results. My name is Jörg Schneider, and I am the CFO of Munich Re. As usual, I
More informationStrong balance sheet Strong returns Morgan Stanley 10 th Annual European Financials Conference 2014. London, 27 March 2014. Jörg Schneider, CFO
Strong balance sheet Strong returns Morgan Stanley 10 th Annual London, 27 March 2014 Jörg Schneider, CFO Agenda 1 Building on a good track record 3 2 Sound capitalisation providing flexibility 8 3 Business
More informationQUARTERLY FINANCIAL STATEMENTS AS AT 31 MARCH 2011
QUARTERLY FINANCIAL STATEMENTS AS AT 31 MARCH 2011 Telephone conference with analysts and investors 9 May 2011 Agenda Overview 2 Financial reporting 2011 Munich Re (Group) 5 Primary insurance 11 Munich
More informationFinancial supplement 2013. Zurich Insurance Group Annual Report 2013
Financial supplement 2013 Zurich Insurance Group Annual Report 2013 2 Contents Results for the Year ended December 31, 2013 Financial supplement (unaudited) Financial highlights (unaudited) Business operating
More informationMunich Re Group Merrill Lynch CEO Banking & Insurance Conference
Merrill Lynch CEO Banking & Insurance Conference Growth Opportunities Post Crisis? i Nikolaus von Bomhard Chairman of the Board of Management 8 October 2008 Agenda Munich Re well positioned during capital
More informationMunich Re Group Turning risk into value
Munich Re Group Dresdner Kleinwort 9th German Investment Seminar New York Nikolaus von Bomhard Chairman of the Board of Management 9 January 2007 A world leading reinsurer with a significant primary insurance
More informationTalanx posts a pleasing first quarter
Talanx posts a pleasing first quarter Gross written premiums up 12.2 percent in first quarter at EUR 9.4 (8.4) billion EBIT improves by 16.1 percent to EUR 643 (554) million Group net income rises 16.2
More informationNN Group N.V. 30 June 2015 Condensed consolidated interim financial information
Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim
More informationQUARTERLY FINANCIAL STATEMENTS AS AT 31 MARCH 2010 Telephone conference with analysts and investors. 7 May 2010. Jörg Schneider Wolfgang Strassl
QUARTERLY FINANCIAL STATEMENTS AS AT 31 MARCH Telephone conference with analysts and investors 7 May Jörg Schneider Wolfgang Strassl Agenda Overview 2 Financial reporting Munich Re (Group) 5 Reinsurance
More informationTalanx generates solid growth in 2014
Talanx generates solid growth in 2014 Gross written premiums up 3.0 percent at EUR 29.0 billion EBIT rises to EUR 1.9 billion (+7.1 percent) Group net income improves by 5.0 percent to EUR 769 million
More informationMaking finance work in a higher capital world Bank of America Merrill Lynch Banking & Insurance CEO Conference
Making finance work in a higher capital world Bank of America Merrill Lynch Banking & Insurance CEO Conference London, 25 September 203 Nikolaus von Bomhard Overview of Munich Re Financial solidity and
More informationHowelliott.Com: Aussie Insurance Company
Conference Call on Interim Report 3/2014 Hannover, 5 November 2014 Strong nine-month result Group net income increased by 10.3% Group Gross written premium: EUR 10,704 m. (+1.6%) Net premium earned: EUR
More informationFinancial supplement (unaudited) 2014. Zurich Insurance Group Annual Report 2014
Financial supplement (unaudited) 204 Zurich Insurance Group Annual Report 204 2 Contents Results for the year ended December 3, 204 Financial supplement (unaudited) Financial highlights (unaudited) Business
More information9M 2014 Results 13 November 2014. Herbert K. Haas, CEO Dr. Immo Querner, CFO
9M 2014 Results 13 November 2014 Herbert K. Haas, CEO Dr. Immo Querner, CFO Agenda I II III IV Group Highlights Segments Investments / Capital Outlook Appendix 9M 2014 Additional Information 2 I 9M 2014
More informationDelivering strong capital returns Bank of America Merrill Lynch 20th Annual Banking, Insurance & Diversified Financials CEO Conference
plainpicture/fstop/ralf Hiemisch Delivering strong capital returns Bank of America Merrill Lynch 20th Annual Banking, Insurance & Diversified Financials CEO Conference London, 29 September 205 Jörg Schneider
More informationCommerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%
IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:
More informationConference Call on Interim Report 2/2015
Conference Call on Interim Report 2/2015 Hannover, 5 August 2015 20% increase in net profits 2015 Group net income guidance increased to ~EUR 950 m. Group Gross written premium: EUR 8,587 m. (+21.5%) Net
More informationCommerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015
Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year
More informationMunich Re quarterly RepoRt 3/2011
Munich Re quarterly report 3/2011 Supervisory Board Dr. Hans-Jürgen Schinzler (Chairman) Board of Management Dr. Nikolaus von Bomhard (Chairman) Dr. Ludger Arnoldussen Dr. Thomas Blunck Georg Daschner
More informationWelcome to Hannover Re's Analysts' Conference. Annual Results 2014
Welcome to Hannover Re's Analysts' Conference Annual Results 2014 London, 10 March 2015 Record result fuelled by both business groups Group net income increased by 10.1%; dividend proposal of EUR 4.25
More informationRemarks by George Quinn (slides 2 to 12), Chief Financial Officer of Zurich Insurance Group.
Q1 Results 2015 Remarks by George Quinn (slides 2 to 12), Chief Financial Officer of Zurich Insurance Group. May 7, 2015 Slide 2: Key highlights Good morning or good afternoon. My name is George Quinn
More informationBUILDING FRANCHISE VALUE IN AN UNCERTAIN WORLD Bank of America Merrill Lynch Banking & Insurance CEO Conference
BUILDING FRANCHISE VALUE IN AN UNCERTAIN WORLD London, 26 September 202 Jörg Schneider Munich Re highlights Munich Re delivering solid long-term shareholder returns during years of volatile macroeconomic
More informationGOOD START TO THE YEAR 2013 Goldman Sachs Seventeenth Annual European Financials Conference
GOOD START TO THE YEAR 203 Goldman Sachs Seventeenth Annual European Financials Conference Brussels, June 203 Nikolaus von Bomhard Reliable business strategy contributing to attractive shareholder return
More informationQ1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer
1 Q1 RESULTS 2015 30 APRIL 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,
More informationFY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer
1 FY RESULTS 27 FEBRUARY 2015 Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words
More informationSecond Quarter 2015 Investor Conference Call
Second Quarter 2015 Investor Conference Call August 20, 2015 December 13, 2012 DRAFT 5 Safe Harbor Basis of Presentation Unless otherwise noted or unless the context otherwise requires, all references
More informationConference Call on Interim Report 1/2009
Conference Call on Interim Report 1/2009 Hannover, 5 May 2009 DISCLAIMER This presentation does not address the investment objectives or financial situation of any particular person or legal entity. Investors
More informationNN GROUP FINANCIAL SUPPLEMENT 1Q2016
NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are
More informationConference Call on Interim Report 2/2014
Conference Call on Interim Report 2/2014 Hannover, 6 August 2014 Favourable results for the first half of 2014 4.9% increase of Group net income; Shareholders' equity up by 8.9% Group Gross written premium:
More informationConference Call on Interim Report 3/2015
Conference Call on Interim Report 3/2015 Hannover, 4 November 2015 Strong nine-month result Group net income increased by 13% Group Gross written premium: EUR 12,946 m. (+20.9%) Net premium earned: EUR
More informationFull Year Results 2012. Conference Call Presentation, 21 st March 2013
Full Year Results 2012 Conference Call Presentation, 21 st March 2013 0 Disclaimer This presentation may contain forward-looking statements based on current assumptionsandforecastsmadebybrenntag AG and
More informationMUNICH REINSURANCE COMPANY RATING RATIONALE
Operating Company Composite Associated With: Munich Reinsurance Company MUNICH REINSURANCE COMPANY Koeniginstrasse 107, D-80802 Munich, Germany Web: www.munichre.com Tel: 49-89-38-91-0 Fax: 49-89-399056
More informationNotes to the consolidated financial statements continued
195 plc 4 Segmental information The Group s results can be segmented, either by activity or by geography. Our primary reporting format is on regional reporting lines, with supplementary information given
More informationAllianz Group Interim Report First Quarter of 2015
1Q Interim Report First Quarter of 2015 Allianz at a glance Quarterly results three months ended 31 March 2015 2014 Change from previous year More details on page Income statement Total revenues1 37,769
More informationMeasuring performance Update to Insurance Key Performance Indicators
Measuring performance Update to Insurance Key Performance Indicators John Hele Member of Executive Board and CFO of ING Group Madrid 19 September 2008 www.ing.com Agenda Performance Indicators: Background
More informationHSBC BANK CANADA FIRST QUARTER 2014 RESULTS
7 May 2014 HSBC BANK CANADA FIRST QUARTER 2014 RESULTS Profit before income tax expense for the quarter ended 2014 was C$233m, a decrease of 13.4% compared with the same period in and broadly unchanged
More informationUnderwriting result improved on reduced operating expenses and despite lower growth
UNIQA Insurance Group AG 1Q14 IFRS Results Underwriting result improved on reduced operating expenses and despite lower growth 23 May 2014 Andreas Brandstetter, CEO Hannes Bogner, CFO Kurt Svoboda, CRO
More informationConference Call on Interim Report 3/2008. Wilhelm Zeller, CEO Elke A. König, CFO
Conference Call on Interim Report 3/2008 Wilhelm Zeller, CEO Elke A. König, CFO Hannover, 5 November 2008 Highlights Non-Life R/I Life/Health R/I Investments Targets Outlook Appendix DISCLAIMER This presentation
More informationRevenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects
Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual
More informationGlobal Life. Source of earnings Briefing document
Global Life Source of earnings Briefing document Background and main changes to approach SOURCE OF EARNINGS What is the purpose of source of earnings? Sources of Earnings (SoE) reporting presents the key
More informationIII. INTERIM MANAGEMENT REPORT OPERATING REVENUES AND FUNDS UNDER MANAGEMENT
III. INTERIM MANAGEMENT REPORT OPERATING REVENUES AND FUNDS UNDER MANAGEMENT Direct insurance and accepted reinsurance premiums written by the Group s subsidiaries amounted to 6,476.2 million in the first
More informationING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2011
ING GROUP Condensed consolidated interim financial information for the period ended 30 June 2011 Contents Interim Report Interim Report 3 Conformity statement 14 Condensed consolidated interim accounts
More informationHannover Re - growth opportunities despite the crisis? Dr. Michael Pickel Member of the Executive Board
Hannover Re - growth opportunities despite the crisis? Dr. Michael Pickel Member of the Executive Board 9th WestLB Deutschland Conference Frankfurt, 16 November 211 HR Group Diversification Opport. & cycle
More informationPERFORMANCE AND RESULTS
016 PERFORMANCE AND RESULTS Quarterly Statement as at 31 March 2016 THE TALANX GROUP AT A GLANCE GROUP KEY FIGURES UNIT 2016 2015 +/ % Gross written premiums 8,995 9,440 4.7 by region Germany % 36 37 1.0
More informationNEWS RELEASE FOR IMMEDIATE RELEASE
NEWS RELEASE FOR IMMEDIATE RELEASE Readers are referred to the sections entitled Forward looking Statements and Non IFRS Financial Measures at the end of this release. The Corporation s financial results
More informationLiquidity and Funding Resources
112 Allianz Group Annual Report Liquidity and Funding Resources Organization The liquidity management of the Allianz Group is based on policies and guidelines approved by the Board of Management of Allianz
More informationMorgan Stanley 10th Annual European Financials Conference. Mark Wilson Chief Executive Officer. March 2014
Morgan Stanley 10th Annual European Financials Conference Mark Wilson Chief Executive Officer March 2014 1 Disclaimer Cautionary statements: This should be read in conjunction with the documents filed
More informationPRUDENT RISK MANAGEMENT IN TIMES OF UNCERTAINTY. Torsten Jeworrek
PRUDENT RISK MANAGEMENT IN TIMES OF UNCERTAINTY Torsten Jeworrek Monte Carlo, 9 September 2012 Macroeconomic Outlook Global economy slowing down, outlook sees only modest improvements highly uncertain
More information2/2001. Munich Re Group. Quarterly Report. Munich Re Group
2/2001 Munich Re Group Quarterly Report M Münchener Rück Munich Re Group SUPERVISORY BOARD / BOARD OF MANAGEMENT Supervisory Board Ulrich Hartmann (Chairman) Board of Management Dr. Hans-Jürgen Schinzler
More informationInsurance sector consolidated report profit and loss statement (2008-2009)
21. INSURANCE AND REINSURANCE The Ministry of Economy and Trade is the source of insurance statistics which deal with insurance companies, with the sector consolidated progress, balance sheet and profit
More informationHannover Re - before and after the crisis. Roland Vogel CFO
Roland Vogel CFO Bank of America Merrill Lynch, 16th Annual Banking & Insurance CEO Conference London, 6 October 211 HR Group Diversification Opport. & cycle man. non-life R/I S'what different L/H R/I
More informationAllianz Group Interim Report First Quarter of 2014
1Q Interim Report First Quarter of 2014 Allianz at a glance Quarterly results three months ended 31 March 2014 2013 Change from previous year More details on page Income statement Total revenues1 33,964
More informationConference Call on Interim Report 1/2015
Conference Call on Interim Report 1/2015 Hannover, 6 May 2015 Excellent start to 2015 Remarkable increase in premiums and earnings Group Gross written premium: EUR 4,400 m. (+21.4%) Net premium earned:
More informationHighlights of 1H FY2015 Results. November 18, 2015
Highlights of 1H FY2015 Results November 18, 2015 Table of Contents 1. Trend of business results 3. Domestic life insurance Summary of 1H FY2015 results 3 Overview of 1H FY2015 results Himawari Life 27
More informationCharlene Hamrah (Investment Community) (212) 770-7074 Joe Norton (News Media) (212) 770-3144
Contact: Charlene Hamrah (Investment Community) (212) 770-7074 Joe Norton (News Media) (212) 770-3144 AIG REPORTS FIRST QUARTER 2006 NET INCOME OF $3.20 BILLION NEW YORK, NY, May 10, 2006 American International
More informationQ2 2003 Sales volume insurance (weighted*) Total 7,298 6,261 5,741 4,517 5,393 8,254 Q1 2003 Q4 2002 Q1 2002 Q3 2002
Appendix 1 SEB Trygg Liv SEB Trygg Liv represents the SEB Group s life insurance business according to a bank-assurance concept, i.e. an integrated banking and insurance business. The purpose of the concept
More informationRemarks by George Quinn (slides 2, 11 and 12), Chief Financial Officer, and Vibhu Sharma (slides 3 to 10), Group Controller of Zurich Insurance Group.
Q1 Results 2014 Remarks by George Quinn (slides 2, 11 and 12), Chief Financial Officer, and Vibhu Sharma (slides 3 to 10), Group Controller of Zurich Insurance Group. May 15, 2014 Slide 2: Key messages
More informationCommerzbank: Strategy successful net profit of over 1 billion euros and dividend
IR release 12 February 2016 Commerzbank: Strategy successful net profit of over 1 billion euros and dividend Operating profit in 2015 more than doubled to EUR 1,909 m (2014: EUR 689 m) Operating profit
More informationNN GROUP FINANCIAL SUPPLEMENT 4Q2014
NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could
More informationStrategic and Operational Overview May 11, 2016
Strategic and Operational Overview May 11, 2016 Safe Harbor Statement This presentation contains several forward-looking statements. Forward-looking statements are those that use words such as believe,
More informationGENERALI GROUP 1Q 2016 Results
GENERALI GROUP 1Q 2016 Results The like for like change of written premiums, life net inflows, APE and NBV is on equivalent terms (on equivalent exchange rates and consolidation area). Agenda 2 I. Profit
More information1/2001. Munich Re Group. Quarterly Report. Munich Re Group
1/2001 Munich Re Group Quarterly Report M Münchener Rück Munich Re Group SUPERVISORY BOARD / BOARD OF MANAGEMENT Supervisory Board Ulrich Hartmann (Chairman) Board of Management Dr. Hans-Jürgen Schinzler
More informationFUTURE CHALLENGES FOR THE LIFE INSURANCE INDUSTRY AN INTERNATIONAL PERSPECTIVE
FUTURE CHALLENGES FOR THE LIFE INSURANCE INDUSTRY AN INTERNATIONAL PERSPECTIVE ACLI Executive Roundtable 10 January 2013 Dr. Joachim Wenning Agenda 1 Economic growth and life business prospects 2 Product
More informationArshil Jamal President and Chief Operating Officer Canada Life Capital Corporation
Scotia Capital Financials Summit September 8, 2011 Arshil Jamal President and Chief Operating Officer Canada Life Capital Corporation Cautionary Note regarding Forward-looking Information This report contains
More information1Q 2015 Financial results
1Q 2015 Financial results Financial analysts meeting April 28 th, 2015 1 1 Highlights 2 Commercial & Risk overview 3 Year-to-date results 4 Appendices 2 1Q 2015 Financial highlights Turnover reaches 670.3
More informationAmerican International Group, Inc. Financial Supplement Fourth Quarter 2005
Financial Supplement Fourth Quarter 2005 This report should be read in conjunction with AIG's Annual Report on Form 10-K for the year ended December 31, 2005 filed with the Securities and Exchange Commission.
More informationTHE WAY TO MAKE IT. Results 2013 and Outlook 2014. Agenda. 26 March 2014. Results 2013. Focus and outlook 2014 Discussion
Results 2013 and Outlook 2014 26 March 2014 26 March 2014 / Results 2013 and Outlook 2014 / 1 Agenda Results 2013 Operational performance Financial performance Focus and outlook 2014 Discussion 26 March
More informationOperating result ongoing business 305 304 0.1% Net result 270 485 44.2% Net operating ROE 8.6% 8.7% Solvency II ratio 1) 241% n/a
Press Release 26 May 2016 NN Group reports 1Q16 results Operating result stable; strong capital position Operating result ongoing business of EUR 305 million, stable on 1Q15, as higher dividends at Netherlands
More informationMunich Re Group Acquisition of The Hartford Steam Boiler Group. Peter Röder Jörg Schneider
Acquisition of The Hartford Steam Boiler Group Peter Röder Jörg Schneider 22 December 2008 Agenda Transaction highlights 3 5 10 Transaction terms and financial impact 19 Summary 23 2 Transaction highlights
More informationWelcome to Zurich Insurance Group s results presentation for the first half of the 2015 financial year.
Q2 Results 2015 Remarks by Martin Senn (slides 3 to 8), Chief Executive Officer, and George Quinn (slides 10 to 22), Chief Financial Officer of Zurich Insurance Group. August 6, 2015 Slide 3: Key financials
More informationConference Call on 1 Jan 2011 Non-Life Treaty Renewals
Conference Call on Jan 2 Non-Life Treaty Renewals Hannover, 2 February 2 Important note Unless otherwise stated, the s part of the presentation is based on underwriting-year (U/Y) figures. This basis is
More informationInsurance and Social Protection Area
Insurance and Social Protection Area July 2015 1. Presentation This is the eleventh edition of the Ranking of the largest European Non-Life insurance groups published by FUNDACIÓN MAPFRE, for 2014 on this
More informationFull Year Results 2014
Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix
More informationConsolidated and Non-Consolidated Financial Statements
May 13, 2016 Consolidated and Non-Consolidated Financial Statements (For the Period from April 1, 2015 to March 31, 2016) 1. Summary of Operating Results (Consolidated) (April 1,
More informationFull Year 2015 Results
Full Year 2015 Results 16 March 2016 Conference call on FY 2015 results Corporate Finance & Investor Relations AGENDA FY 2015 results presentation Highlights 2015 Financials 2015 Outlook 2016 Appendix
More informationQ1 Trading Update, FY 2011
ARYZTA AG Q1 Trading Update, FY 2011 29 November 2010 Forward Looking Statement This document contains forward looking statements which reflect management s current views and estimates. The forward looking
More informationFirst Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln
First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln Jan Hommen CEO Amsterdam 5 May 2011 www.ing.com ING Group posted strong first-quarter results ING Group underlying net
More informationStrict cost management and improved underwriting result reflected in higher profit on ordinary activities
UNIQA Insurance Group AG Preliminary results FY14 Strict cost management and improved underwriting result reflected in higher profit on ordinary activities 6 March 2015 Andreas Brandstetter, CEO Kurt Svoboda,
More informationAllianz Malaysia Berhad (12428-W) Financial Results 4Q 2015. Analyst Briefing 29 February 2016
Allianz Malaysia Berhad (12428-W) Financial Results 4Q 2015 Analyst Briefing 29 February 2016 1 AMB Group Results Allianz Malaysia Berhad (12428-W) Resilient Growth Operating revenue Group operating revenue
More informationCondensed Consolidated Interim Financial Statements Q4 2014. aegon.com
Condensed Consolidated Interim Financial Statements Q4 2014 aegon.com The Hague, February 19, 2015 Table of contents Condensed consolidated income statement 2 Condensed consolidated statement of comprehensive
More informationQBE INSURANCE GROUP Annual General Meeting 2009. All amounts in Australian dollars unless otherwise stated.
Annual General Meeting 2009 All amounts in Australian dollars unless otherwise stated. John Cloney Chairman 2 Results of proxy voting A total of 4,874 valid proxy forms were received. The respective votes
More informationBOŚ S.A. GROUP Q3 2012
BOŚ S.A. GROUP Q3 2012 PU\Warsaw\Bos\C20120377 Agenda 1. Key information about BOŚ S.A. Group 2. BOŚ S.A. Group after Q3 2012 Appendices 2 3 Key information about BOŚ S.A. Group BOŚ S.A. Group Bank Ochrony
More informationConsolidated sales of 6,347 million euros, up 10% on a like-for-like basis (7% as reported)
14.18 Order intake surged 25% to 9.1 billion euros Sales came in at 6.3 billion euros, up 10% like for like (7% as reported) Operating margin (1) up 15% to 442 million euros, or 7.0% of sales Net income
More informationSAF-HOLLAND Annual Financial Statements 2012. Detlef Borghardt, CEO Wilfried Trepels, CFO. March 14, 2013
SAF-HOLLAND Annual Financial Statements 212 Detlef Borghardt, CEO Wilfried Trepels, CFO March 14, 213 Executive Summary business volume successfully expanded in 212 1 Group sales increased yoy by 3.4%
More informationAltus Group Reports First Quarter Financial Results for 2015
Street Smart. World Wise. Altus Group Reports First Quarter Financial Results for 2015 Altus Group Delivers 14% Revenue Growth, Including 43% Increase in Recurring Revenues from GAIM Businesses TORONTO,
More informationINDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited)
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) March 31,2000 TABLE OF CONTENTS CONSOLIDATED INCOME 2 CONSOLIDATED CONTINUITY OF EQUITY 3 CONSOLIDATED
More informationHalf Year Report 2015
Zurich Insurance Group Half Year Report 2015 Report for the six months to June 30, 2015 About Zurich Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about
More informationStandard Chartered today releases its Interim Management Statement for the third quarter of 2015.
Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,
More informationI know it s a busy day as HSBC are also reporting. and we re doing the same again today. with the equivalent period in 2008
Barclays Interim Management Statement 10 November 2009 Chris Lucas Good morning and thanks for joining us I know it s a busy day as HSBC are also reporting so I m going to talk for about fifteen minutes
More informationAhlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT
Ahlers AG, Herford ISIN DE0005009708 and DE0005009732 on the first nine months of fiscal 2005/06 (December 1, 2005, to August 31, 2006) BUSINESS DEVELOPMENT IN THE FIRST NINE MONTHS OF FISCAL 2005/06 According
More informationColleen Johnston Group Head Finance & CFO TD Bank Financial Group. Citi Financial Services Conference
Colleen Johnston Group Head Finance & CFO TD Bank Financial Group Citi Financial Services Conference January 28, 2009 Caution regarding forward-looking statements From time to time, the Bank makes written
More informationQ2 2014 SHAREHOLDERS REPORT SUN LIFE FINANCIAL INC. For the period ended June 30, 2014. sunlife.com
Q2 2014 SHAREHOLDERS REPORT SUN LIFE FINANCIAL INC. For the period ended June 30, 2014 sunlife.com CANADIAN RESIDENTS PARTICIPATING IN THE SHARE ACCOUNT Shareholders holding shares in the Canadian Share
More information