ERGO Austria International Group Profile

Transcription

1 Photo: Anna Blau ERGO Austria International Group Profile Effective July 2016 Headquarter ERGO Center, Businesspark Marximum, Vienna ERGO Austria Pressegespräch International ERGO Group Center Profile Wien 30. Juni

2 Content ERGO Austria International ERGO in Austria ERGO Austria in CEE ERGO Austria as an International Competence Center for Bancassurance Key facts ERGO Austria Key facts ERGO Group AG Our guiding principles 2

3 1. ERGO in Austria 3

4 ERGO in Austria A new insurance group with traditional roots and longstanding business partners in Austria ERGO Austria International AG is a holding company and part of the international operating ERGO Group AG based in Dusseldorf. ERGO Versicherung AG is the operational acting insurance company in Austria with branch offices in Slovenia and Hungary. The operational acting company offers insurance products for private precaution and occupational pension scheme. ERGO Austria has some subsidiaries in CEE countries. The main sales and cooperation partners of ERGO Austria are Bank Austria / UniCredit, Volksbanken, our field organization as well as agencies and Austrian brokers. D.A.S. Rechtsschutz Versicherung is a member of ERGO Group AG and they are also represented in Austria as well as a branch of ERGO Versicherung AG Germany. 4

5 ERGO in Austria Development of ERGO in Austria from 2007 to ERGO Austria International AG is founded. ERGO Austria takes over the majority of Bank Austria Versicherung. Transfer of Victoria-Volksbanken Versicherungsgesellschaften shares to ERGO Austria. All ERGO companies relocate to the ERGO Center in Vienna's 11th district. International Competence Center for Bancassurance for the target markets of Europe and Asia is established in Vienna. ERGO acquires the minority interests held by Volksbank in Victoria-Volksbanken Versicherung in Austria and Central and Eastern Europe Rebranding of Victoria-Volksbanken Versicherung to ERGO Versicherung AG. Rebranding in Slovenia, Croatia and the Czech Republic. ERGO Versicherung AG Germany establishes a branch office for industrial insurance services in Vienna. 5

6 ERGO in Austria Development of ERGO in Austria from 2013 to Rebranding in Hungary and Slovakia. All foreign subsidiaries of ERGO Austria International AG insurance holding now operate under the ERGO brand name. ERGO Austria acquires the Austrian-based ERGO Direkt Lebensversicherung AG. Bank Austria Versicherung merges with ERGO Versicherung AG ERGO Direkt Lebensversicherung AG merges with ERGO Versicherung AG. Victoria-Volksbanken Pensionskassen AG and Victoria-Volksbanken Vorsorgekasse AG are sold to BONUS Pensionskassen AG. 6

7 ERGO in Austria ERGO Austria under a common roof 7

8 ERGO in Austria Strong partnership for Bancassurance with two bank groups in Austria ERGO Austria is currently No. 6 in the total insurance market and No. 4 in life insurance market in Austria (Group statistic)* * Source: Versicherungsverband Österreich, provisional results

9 ERGO in Austria Market position in Austria (Group statistic) Top 10 market shares total market 2015 Top 5 market shares life insurance 2015 In % * In % * Vienna Insurance 24,2 Vienna Insurance 27,2 UNIQA Generali 15,4 19,1 UNIQA 20,9 Allianz 8,5 Generali 14,2 Zürich 4,2 ERGO Austria 8,7 ERGO Austria 4,2 Allianz 6 GRAWE 3,3 Wüstenrot 3,2 OÖ 2,7 Helvetia 2,6 * Source: Versicherungsverband Österreich; Excluding health 9

10 2. ERGO Austria in CEE 10

11 ERGO Austria in CEE Partnership with UniCredit and local partnership in CEE/SEE ERGO Austria has subsidiaries in Hungary, the Czech Republic, Slovakia, Slovenia, Croatia and Romania and branches in Slovenia and Hungary. ERGO Austria subsidiaries The Czech Republic Slovakia Hungary Slovenia Croatia since 2000 since 2000 since 2001 since 2007 since 2008 Romania since

12 ERGO Austria in CEE ERGO in Austria: A hub for further developments of bancassurance business in CEE ERGO Austria as an expert for Bancassurance The ERGO Group uses Austria as a hub High relevance of Bancassurance in Austria ERGO Austria is a partner of two strong bank groups in Austria Longterm experience and knowhow in selling insurances via banks ERGO Insurance AG exists in origin for more than a century Bancassurance is primary objective in the strategy of the ERGO Group AG Great development potential for Bancassurance in CEE ERGO Austria has strategic importance for ERGO Group AG 2015: ERGO Austria contributes 18 % to the total premium income of ERGO Group AG international business Austria as a hub for further expansion plans of Bancassurance in CEE 12

13 ERGO Austria in Central and Eastern Europe CEE-region as growth market Central and Eastern Europe continues to be an important business area for ERGO and its partners Growth potential GDP-growth prognosis* : Eurozone: ,6 %, ,7 % I Austria: ,9 %, ,4 % Slovakia: ,4 %, ,0 % I Czech Republic: ,3 %, ,3 % Romania: ,7 %, ,9 % I Croatia: ,3 %, ,1 % Low insurance density high insurance demand Rate of insurance (premium volume in comparison to GDP) 2014**: EU- average rate 8,1 % I Slovenia 5,1 % I Austria 5,2 % I Czech Republic 3,4 % I Slovakia 2,9 % I Hungary 2,6 % I Croatia 2,6 % I Romania 1,2 % Non-Life-business as future growth driver in CEE region * Source : UniCredit Research ** Source: Insurance Europe Statistics, Country data, September

14 3. ERGO Austria as an International Competence Center for Bancassurance 14

15 ERGO Austria as an International Competence Center for Bancassurance International Competence Center Bancassurance (ICCB) Selected tasks of the ICCB expert team Worldwide identification of new business fields and cooperation possibilities Strategic consulting for partnerships with banks International project management for tender processes and M&A Expansion of existing partnerships Systematic monitoring of trends in the bancassurance sector e.g. FinTech companies Management of the business conducted by international subsidiary units Support for, and exchange of information with local units Consulting services for all ERGO units and the Munich Re Group Participation in processes for mergers and projects Creation of new approaches for the development of new products and other innovations Development of new partnerships in the bancassurance sector Identification and initial contact with potential partners (banks, FinTech companies) Strengthening of existing partnerships Support with negotiations; ongoing consulting activities Periodic exchange of information on relevant topics Creation of reports that identify potential for improvement Knowledge exchange and consulting for units in all countries Organisation of ICCB conferences Participation in workshops and events with partners (banks, CCs and many other types of companies/institutions) 15

16 ERGO Austria as an International Competence Center for Bancassurance International Competence Center Bancassurance (ICCB) High relevance of bancassurance Worldwide Bancassurance plays a key role worldwide Asia is the most important growth driver; Europe remains strong Markets displaying high growth potential: China, India, Sub-Saharan Africa, Poland, Turkey China: 15.91% CAGR* from 2014 to 2018 Poland: 15.17% CAGR up until 2020 Turkey: 14.70% CAGR up until 2020 For ERGO Bancassurance is one of the most important growth drivers Proven sales channel for life and non-life insurance ICCB as a central instance and point of contact for strategic partners from the banking sector Focus on product solutions tailored to the specific needs of partners * Compound annual growth rate **Sources: Global Bancassurance Market , Timetric, The International Banker 16

17 ERGO Austria as an International Competence Center for Bancassurance Support for our bank partners in various areas Product development Integration of product ideas Expansion of the existing product portfolio Bancassurance Analysis techniques and creation of bank profiles Access to various research sources Continual exchange of information with banks and insurance companies Information technology Sales support Special IT systems for bancassurance Compatibility with bank systems Online/mobile banking apps Visits to bank branches Improvement of alternative bank sales channels for insurance Marketing campaigns Actuary services Continual exchange of information with ERGO actuaries Complaint management Training & further education Fast processes Implementation of best practices Combating fraud Knowledge of products and sales techniques Bancassurance workshops Advanced training 17

18 ERGO Austria as an International Competence Center for Bancassurance ERGO s Strategic Bancassurance partnerships ERGO bancassurance business in Europe Strong strategic partnerships in Germany, Austria, CEE, Baltics, Russia and Greece. UniCredit Volksbanken DnB Nordea Piraeus Bank Alior Bank International Competence Center Bancassurance (ICCB) established in Vienna / Austria in order to drive expansions in Europe and Asia. Almost 40 local bank partnerships across Europe. 18

19 ERGO Austria as an International Competence Center for Bancassurance ERGO s Strategic Bancassurance partnerships ERGO bancassurance business in Asia CN Singapore Representative office as hub for the Asian business. India Since 2008 ERGO and HDFC Bank are cooperating through joint venture HDFC ERGO in Non-Life business. Since 2015, ERGO cooperates with Deutsche Bank. IN SG VI E Vietnam Since 2011 ERGO holds a 35 % stake of Vietnamese Non-Life insurance company Global Insurance Company (GIC). Strategic partner in bancassurance is DONGA Bank with bundled and mixed products. Since 2014, ERGO has a Bancassurance partnership with Techcombank. China ERGO, with life insurance, has been in cooperation with the China Construction Bank since 2014 and since 2015, ERGO has a Bancassurance agreement with Bank of China. 19

20 ERGO Austria as an International Competence Center for Bancassurance ERGO s Strategic Bancassurance Partnerships Strategic bank partners worldwide BALTIC REGION RUSSIA GERMANY POLAND CHINA GREECE ROMANIA VIETNAM AUSTRIA & CEE* INDIA Cooperations with UniCredit in CEE: Slovakia, Slovenia, Hungary, Romania and Czech Republic 20

21 4. Key facts ERGO Austria 21

22 Key Facts ERGO Austria Key facts ERGO Austria International AG Key Facts ERGO Austria International 2015* TOTAL PREMIUMS Total: 752 million Austria: 662 million International: 89 million EMPLOYEES** Total: 1111 Austria: 689 International: 422 INSURANCE CONTRACTS Austria ERGO Versicherung: Life insurance: 832,000 Non-life insurance: 529,000 NET PROFIT Austria ERGO Versicherung: 17.5 million INVESTMENTS - Austria ERGO Versicherung: 6.1 billion BUSINESS SEGMENTS Austria 90 % Life insurance 10 % Non-life insurance *As of 31 Dec. 2015; Including branch offices in Slovenia and Hungary **Including employees on maternity leave 22

23 Key Facts ERGO Austria Management ERGO Holding and ERGO Insurance ERGO Austria International AG (holding) Dipl.-Ök. Thomas Schöllkopf Chairman of the Board International Mag. Josef Adelmann Member of the Board Austria Dkfm. Josef Kreiterling Member of the Board Finance ERGO Versicherung Aktiengesellschaft (insurance) Mag. Josef Adelmann Chairman of the Board Life section Walter Kralovec Member of the Board Sales Dkfm. Josef Kreiterling Member of the Board Finance Mag. Ingo Lorenzoni Member of the Board Sales Dipl.-Ing. Christian Sipöcz Member of the Board Non-Life section Dipl.-Math. Christoph Thiel Member of the Board IT + ERGO Service Team 23

24 5. Key facts ERGO Group AG 24

25 Key facts ERGO Group AG One of the major insurance groups in Germany and Europe TOTAL PREMIUMS 17.9 billion INVESTMENTS 123 billion BENEFITS TO CUSTOMERS 16.8 billion CONSOLIDATED GROUP RESULT -227 million A broad line-up across business segments Travel 0.4 billion (3 %) Health 4.8 billion (26 %) Direct sales 1.1 billion (6 %) Life Germany 4.0 billion (22 %) International 4.4 billion (25 %) Non-Life Germany 3.2 billion (18 %) *Total premium income in EUR billion (rounded figures) as at 31 Dec

26 Key facts ERGO Group AG ERGO belongs to Munich Re group Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and close client proximity Munich Re One of the world s leading risk carriers Far over one century of international experience Listed on the share indices DAX 30 / EURO STOXX 50 Reinsurance International health market Primary insurance Asset management Manager of Group investments amounting to 215 bn * Funds for private and institutional investors *As of 31 Dec

27 Key facts ERGO Group AG Steering towards expansion in growth regions ERGO relies on strong partners to establish the best business model Ambitious growth targets and clearly defined strategy Eastern Europe Business expansion and possible establishment of new subsidiaries / selected acquisitions Selected Asian countries Business expansion and possible establishment of new subsidiaries / selected acquisitions in South East Asia, India and China Application of special expertise Non-life insurance, legal protection insurance, insurance sales via banks and agencies, process standardisation, knowledge exchange International business contributes 4.4 billion to total premium income (incl. D.A.S. International)* * As of 31 Dec

28 6. Our guiding principles 28

29 Our guiding principles To insure is to understand Our motto: To insure people is a wonderful thing We realise that: Insurance is not a tangible product. It does not generate direct emotions in the way that buying material things does. People don t exactly like sorting out insurance. This is because they take insurance out as protection against unexpected risks in the hope that they won t actually need it. Or because as in the case of life insurance it promises benefits in the future, which no one can really foresee. But we know: Taking out insurance gives people a sense of financial security. It protects against risks that would cause them major financial problems if they were uninsured. Or ensures they will have the money they need to maintain their standard of living later in life. Or provides financial security for their family from the moment the contract is signed. This makes it a great task: Being able to go a long way towards giving people this sense of security by offering advice and products. Tangibly delivering on these promises for our customers should they need to make a claim. Protecting people in situations that threaten their livelihood. Making security palpable. Our challenge: Thinking in terms of what customers need at their stage in life and offering tailored solutions. Listening to our sales partners and customers to understand their insurance needs better. Reacting to social changes in good time and offering new solutions. 29

30 Our guiding principles To insure is to understand The promises we make to our key target groups Customers We listen first, then provide the right advice We explain to customers what they need and what they don t need We learn from customer feedback and keep developing Employees Mutual respect forms the basis of our relationship Our personnel policy follows the principle of continuity We foster our employees identification with their company and job Sales partners Sales partners are the crucial link between our customers and ourselves We support our customers by providing efficient services and products We are guided by their wishes and those of their customers Investors Society Sustainable results are more important to us than short-term success We treat the capital entrusted to us responsibly Professional risk management plays a primary role We take responsibility in the markets we operate in We invest in our society s future We use sustainable and responsible business practices 30

31 ERGO Austria International AG Contact: ERGO Austria International AG ERGO Center Businesspark Marximum / Objekt 3 Modecenterstraße 17 A-1110 Wien Phone Fax [email protected] Websites: Contact: Mag. Werner Rack [email protected] Phone: + 43 (0) Fax: +43 (0) This presentation contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Austria International AG. 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 the Company. The Company assumes no liability to update these forwardlooking statements or to conform them to future events or developments. 31