Download Antonio Cassio dos Santos

Antonio Cassio dos Santos
CEO Américas Generali
O Mercado se seguros Latam mostrou forte crescimento e oferece muitas
oportunidades no future…..
Insurance market LatAm 2006-2014
Insurance penetration
Premium in USD billions
Premium as % of GDP 2014
CAGR
2.1x
+11%
CAGR
+14%
113
P&C
74
43
1.8%
2006
2010
CAGR Major
markets:
LatAm in %
world
3.8%
2014
1.8%
2.8%
Latam
North Am. & Europe
adv.
2.9%
4.2%
5.3%
CAGR
+8%
CAGR
3.4x
+17%
75
54
Life
4.1%
29
2006
CAGR Major
markets:
LatAm in %
world
2010
0.4%
1.4%
2014
Latam
1.1%
2.2%
1.2%
2.8%
North Am. & Europe
adv.
3
…com forte crescimento concentrado nos principais mercados…..
Premium in bnUSD – strong concentration
Tier 1 markets:
172bn – AG 1.3bn
Growth and penetration in key markets
Tier 2 markets:
11bn – AG 0.2bn
5.0%
4.5%
85.4
47%
27.2
22.7
15.8
15%
12%
9%
10.9 9.5 9.8
6%
5%
5%
3.6 1.7 1.3 1.2 0.8 1.2 0.4
Insurance Penetration 2014
Chile
4.0%
*
3.5%
Brazil
* Argentina
3.0%
Colombia
2.5%
Mexico
2.0%
Peru
1.5%
Ecuador
1.0%
0.5%
0.0%
0.0%
5.0%
10.0%
15.0%
Premium CAGR 2010-2014
Brazil
Mexico
Chile
Argentina
Colombia
Ecuador
Peru
4
..... No entanto o principal mercado da América Latina, o Brasil; continua
mostrando resistencia a um ambiente economico volatil.
Profitability of Brazilian insurance market
2014 P&L of some top players in BRL Mio.
ROAE of listed local insurance companies
Porto Seguro
Bradesco
Tokio Marine
HDI
Market Rank*
2
3
8
9
GWP
LR
CR
ER
CoR
Net Income
11396
58%
20%
20%
98%
727.8
31028
57%
22%
14%
93%
4265.0
3255
55%
20%
26%
91%
82.9
2780
65%
20%
12%
97%
102.1
* As measured by Generali lines only
Comments:
Q1 discrete figure
•
63.7%
43.40%
35.90%
BB Seguridade
Sul America
16.1%
14.4%
13.8%
Porto Seguro
19.0%
18.5%
16.5%
Q2 15
2014
2013
0.0%
20.0%
40.0%
60.0%
80.0%
•
The total market presents a
20,7% ROE in the year of
2014, an increase from 19,2%
presented a year earlier.
Of top 10 Players in Life and
P&C segments 8 are
profitable, exceptions are
Allianz that had it first loss in
5 years after a disastrous
system and Zurich is loosing
share except in GC and Mass
Consumer
Stock performance of listed insurance companies in Brazil
5 year return of IBOVESPA listed local Insurance
companies (5/10/2015):
Porto Seguro: 36.25%
Sul America: 18.48%
BB Seguridade: 58.71%
Ibovespa Index: -32.59%
Comments:
While the Brazilian stock market index has suffered large
losses over the last 5 years, insurance titles have significantly
outperformed the local market index and have shown good
returns from a nominal perspective.
555
Mercados rentáveis
Combined Ratio and Investment results 2013*
Earnings development 2012-2014 EUR
30%
24.5%
16.7%
20%
17.2%
4.7%
0%
17.4%
-12.7%
13.9%
Central Am.
and Andean R.
545
473
554
0.8%
Colombia
480
234
406
-8.1%
5.3%
10%
7.3%
16.8%
14.0%
-8.7%
18.9%
17.0%
-2.2%
-0.2%
19.4%
CAGR
-5.5%
Argentina
-10%
Financial Result
Technical Result
Op. Result
-20%
Mexico
112.7%
108.7%
COR
102.2%
101.5%
105.5%
ER
2012
694
701
1,167
2014
1,404
1,342
1,431
LR
92.7%
48.7%
31.8%
44.5%
0.9%
5,364
5,920
6,080
Brazil
47.3%
2013
29.7%
6.5%
46.3%
45.7%
Total Countries in focus
CAGR
6.6%
65.4%
47.0%
60.0%
73.7%
57.7%
11.2%
53.9%
2.2%
Brazil
Argentina
Colombia
Central
America and
Andean
Region
Total
Countries in
Focus
Mexico
9,637
8,487
8,670
2012
2013
2014
* As percent of earned premium
Source: FundacionMapfre – The Latin American Insurance Market 2013-14; The Latin American Insurance Market - Preview 2014
Remark: 2014 result of Panama estimated equals 2013 as it is not reported; 2014 earnings calculated over reported growth as 2013 and 2014 report showing different
FX base (EUR vs. USD)
66
O potencial da região é expressivo
Families and Individuals
Customer Segments
Enterprises
SME’s* (#)
Mass Personal Lines
Traditional Personal Lines
Brazil
204m people
280m mobiles
49.4m cars
46% Smart
58.5m households
8.1m
89.9k
5.871
Mexico
122m people
105m mobiles
25m cars
18% Smart
28m households
1.4m
34.9k
4.254
Argentina
41.5m people
63m mobiles
10m cars
42% Smart
12.2m households
3.7m
22.0k
1.140
Colombia
48m people
55m mobiles
4.6m cars
22% Smart
13.6m households
2.0m
32.8k
2.352
Central America
& Andean Region
93m people
70m mobiles
8m cars
20% Smart
18m households
1.6m
8.5k
1.432
Source for population/cars/households according to each countries estimation;
Source for numbers of companies: Dun&Bradstreet 2014; data received from Generali Group –
numbers for Brazil MM, Guatemala, Panama, Peru, Costa Rica, El Salvador, Nicaragua and Honduras are estimated
Middle Market** (#firms)
SME – 0-1 Mln EUR turnover
** MM 1-25 Mln EUR turnover
*** GC >25 Mln. EUR turnover
Global Corp.*** (#enterprises)
77
O potencial da região é expressivo
509 million
97 million
188k
People
Cars
MM Co
127 million
17 million
15k
Households
SME’s
GC&C Enterprises
Gigante adormecido
Muchas Gracias/Thanks/Obrigado