Porto Seguro S.A. December 2006

Transcription

1 Porto Seguro S.A. December 2006

2 Porto Seguro S.A. Total Revenues R$ m illion Variation Total Revenues 4, , % (R$ million) 4, , , , , CAGR = 17.5%

3 Porto Seguro S.A. Written Premiums R$ m illion Variation Written Premiums 3, , % (R$ million) 3, , , , , CAGR = 16.8%

4 Porto Seguro S.A. Written Premiums Written Premiums (R$ million) December Variation % Segment Porto Seguro Auto 2, , RVNE premium Azul Seguros Auto RVNE premium Total Auto ex RVNE 2, , Total Auto 2, , Health Life RVNE premium P&C RVNE premium DPVAT Other RVNE premium Porto Seguro Del Uruguay VGBL Total written premiums ex RVNE 3, , Total written premiums 3, ,

5 Porto Seguro S.A. Technical Reserves R$ m illion Variation Premium Provisions 2, , % Claim Provisions % (R$ million) 2, , , ,

6 Porto Seguro S.A. Technical Reserves Provisions Period Variation % Unearned Premiums RVNE premium Pension Plans Mathematical Non expired risks Other Total

7 Porto Seguro S.A. Total Assets R$ m illion Variation Total Assets 5, , % (R$ million) 5, , , , ,062.8 CAGR = 23.9%

8 Porto Seguro S.A. Net Earnings R$ m illion Variation Net Earnings % (R$ million) CAGR = 39.4%

9 Porto Seguro S.A. Shareholder s Equity R$ m illion Variation Shareholder s Equity 1, , % (R$ million) 1, , CAGR = 27.4%

10 Porto Seguro S.A. Loss Ratio Period Auto Loss Ratio Porto Seguro Auto Loss Ratio Azul Seguros Health Life P&C DPVAT Other Segments Porto Seguro Uruguay Total

11 Porto Seguro S.A. G & A (R$ million) 4Q06 4Q05 Var.% Var.% Payroll Outsourced Services Location and Operating Advertising (21.9) (16.1) Recovered expenses 1.5 (1.5) n.a. (9.2) (9.1) (1.1) Others Total Administrative Expenses

12 Brazilian Insurance Ranking Third largest Company 20.1% 15.0% 8.4% 7.6% 6.9% 5.5% 3.5% Bradesco Sul América Porto Seguro Unibanco Itaú Mapfre Tokio Marine Obs: Porto Seguro participation in December/2005: 8.0% Source: SUSEP and ANS, ex- VGBL. 12

13 Specialized in Auto Insurance Specialized in Auto Insurance Market Breakdown by segment 7.0% 1.7% 4.4% 5.4% Auto Health 12.7% 3.4% 30.4% Life 11.4% 16.0% P&C 65.5% Cargo Other 21.4% 20.7% Source: SUSEP and ANS, ex- VGBL where applicable 13

14 Auto Insurance Ranking Nationwide leadership Brazil 18.2% 16.3% 15.5% 7.0% 6.7% 6.7% 5.2% Porto Seguro Bradesco Sul América Itaú Tokio Marine Mapfre Hannover (HDI) Obs: Porto Seguro participation in December/2005: 16.9% Source: SUSEP, ex- DPVAT 14

15 Auto Insurance Ranking Regional leadership São Paulo Rio de Janeiro Porto Seguro Bradesco 33.4% 29.8% Sul América + BB Veículos Itaú 28.9% 18.5% Mapfre 13.2% 7.1% 8.3% 9.3% 12.1% Tokio Marine AIG Unibanco 7.2% 9.9% 22.3% Others Source: SUSEP 15

16 Benchmark in Performance Auto Loss Ratio below market average 73.4% 72.3% 63.4% 63.3% 63.3% 60.5% 50.8% Bradesco Tokio Itaú Market Mapfre Sul Porto Marine América Seguro Source: SUSEP 16

17 Health Insurance Market Share 16.0% of Company written premiums Approximately 330,000 insured lives Focus on the corporate segment 2.8% 2.9% 6.5% 6.8% 43.0% Bradesco Sulamérica Porto Seguro AGF 38.0% Marítima Others Obs: Porto Seguro participation in December/2005: 6.4% Source: ANS 17

18 Benchmark in Performance Health Loss Ratio below market average 78.1% 86.3% 75.1% 87.2% 71.3% 90.0% 72.2% 84.0% Porto Seguro Market Source: ANS 18

19 Selected Data Porto Seguro S.A. Operational Efficiency (R$ million) * 2005 Variation Written Premiums 3, , , % Earned Premiums 3, , , % Financial Result % Ratios % % % p.p. G&A (1.6) Commission Loss Ratio (4.1) Combined Ratio (5.9) Profitability (R$ million) * 2005 Variation Total Revenue 4, , , % Shareholder s Equity 1, , , % Net Earnings % ROAE% p.p. *Excluding COFINS provision reversion Excluding RVNE and VGBL where applicable 19

20 Selected Data Porto Seguro Cia de Seguros Gerais Operational Efficiency (R$ million) * 2005 Variation Written Premiums 2, , , % Auto 2, , , % Other % Earned Premiums 2, , , % Financial Result % Ratios % % % p.p G&A (1.4) Commission Loss Ratio (5.9) Combined Ratio (7.3) Profitability (R$ million) * 2005 Variation Total Revenue 3, , , % Shareholder s Equity 1, , % Net Earnings % ROAE% p.p. *Excluding COFINS provision reversion Excluding RVNE where applicable 20

21 Selected Data Porto Seguro Saúde (Health) Operational Efficiency (R$ million) Variation Written Premiums % Earned Premiums % Financial Result (8.2%) Ratios % % p.p. G&A (0.1) Commission Loss Ratio Combined Ratio Profitability (R$ million) Variation Total Revenue % Shareholder s Equity % Net Earnings % ROAE% p.p. 21

22 Selected Data Azul Seguros Written Premiums % Azul Seguros Auto % Other % Earned Premiums % Financial Result % G&A (6.7) Commission (0.6) Loss Ratio (4.9) Combined Ratio (12.2) Total Revenue % Shareholder s Equity % Net Earnings % ROAE% p.p. Excluding RVNE where applicable Operational Efficiency (R$ million) Variation Ratios % % p.p. Profitability (R$ million) Variation 22

23 Selected Data Life and Pension (R$ million) * 2005 Variation Contributions % Written Premiums % Earned Premiums % Financial Result (11.2%) Net Earnings (45.2%) Shareholder s Equity % ROAE% (7.9) p.p Pension Plan Contribuitions (R$ million) CAGR = 9.4% *Excluding COFINS provision reversion 23

24 Selected Data Surveillance and Monitoring (R$ m illion) Variation Revenues % Shareholder s Equity % Net Earnings % ROAE% p.p. Revenues for services rendered - Surveillance (R$ million) CAGR = 34.4%

25 Selected Data Financial Subsidiaries Porto Seguro Consortiums (R$ million) Variation Operational Revenue % Shareholder s Equity % Net Earnings % ROAE% (7.6) p.p. Revenues for services rendered - Consortium (R$ million) CAGR = 37.3%

26 Selected Data Financial Subsidiaries Portoseg Financing (R$ m illion) Variation Operational Revenue % Credit and Financing Portfolio % Shareholder s Equity % Net Earnings % ROAE% p.p. Credit and Financing Portfolio (R$ million) CAGR = 84.7% ,

27 Selected Data Financial Subsidiaries Portopar DTVM (R$ m illion) Variation Operational Revenue % Shareholder s Equity % Net Earnings % ROAE% (5.7) p.p.

28 Asset Management Model Asset Management Model Investment Strategy Profitability targets defined Macro economic scenarios Financial opportunity Analyses/ simulations Asset and liability allocation policy Risk Analysis Macro-allocation (asset class) Investment Manager Selection Result Analysis (Quantitative) (by asset class) Due dilligence (Qualitative) Market Timing and specific asset selection (i.e. stocks) In-house management Third party management Result Monitoring Performance Risk exposure Consistency/ excellence in management Validation/ strategy adjustment/ specific allocation

29 Investment Results Investment Results Investment Portfolio Portfolio Breakdown Asset Class 111% of CDI 99% of CDI 18.8% 16.7% Equity ("long only") Private Bonds IGP-M inflation linked bonds IPCA inflation linked bonds Floating Government Bonds (LFT) Government Bonds (LTN) 1% 8% 13% 12% 31% 34% Dec/2005 1% 11% 13% 29% 17% 29% Dec/2006 Total Assets R$ 3.16 bi R$ 3.70 bi Result Evolution Management Breakdown 114% 150% Third party (Open Funds) 28% 37% 105% 105% 4.5% 4.6% 2.8% 78% 3.7% 4.7% In-house (Exclusive funds) 72% 64% 4ºQ/2005 1ºQ/2006 2ºQ/2006 3ºQ/2006 4ºQ/2006 Jan/2006 Dec/2006 Reserves Free Assets R$ 1.6 bi R$ 1.6 bi R$ 1.7 bi R$ 1.7 bi R$ 1.8 bi R$ 1.6 bi R$ 1.6 bi R$ 1.5 bi R$ 1.7 bi R$ 1.6 bi

30 Contact Investor Relations Alameda Ribeiro da Silva, st floor Campos Elíseos São Paulo, SP Phone: (+55 11) guido.lemos@portoseguro.com.br 30