Investor Day 2012 - Distribution and Customers
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Investor Day 2012 - Distribution and Customers

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Andy Watson on distribution and customers

Andy Watson on distribution and customers

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    Investor Day 2012 - Distribution and Customers Investor Day 2012 - Distribution and Customers Presentation Transcript

    • Ageas UK Distribution & Customers Andy Watson MD Ageas Retail INVESTOR DAY 2012 Investor Day 2012
    • Profile Distribution in the UK market & at Ageas Conclusions author I 19-9-2012
    • Profile Key market positions Brokers Aggregators Investor Day 24-25 September 2012 | Andaz Liverpool Street London Over 50s Affinity Partnerships 2
    • Profile Distribution in the UK market & at Ageas Conclusions author I 19-9-2012
    • Distribution in the UK market & at Ageas Personal & Commercial lines have very different distribution mixes General Insurance 58% Personal Lines 40% Commercial Lines Brokers 22% 31% 12% 80% Direct Banks / Building Societies 7% 6% 7% 8% 9% Partnerships 9% 1% 9% 2% Other Personal Lines Commercial Lines  Brokers & Direct dominate  Household : significant proportion  Market shares stable in recent years  Brokers remain largest channel (80%   distributed through banks & building societies. Growth in Direct & use of internet Aggregators strongly influence private car market Investor Day 24-25 September 2012 | Andaz Liverpool Street London  of GWP in 2010) Only 1% distributed through banks & building societies despite large portfolio of small business customers Source: ABI 4
    • Distribution in the UK market & at Ageas Recap of Ageas’s distribution mix Implementation of the UK’s multi-channel strategy has delivered significant diversification 2000 GWP £m 1800 1600 1400 1200 1000 800 600 400 200 0 2004 Source: Ageas UK 2005 2006 Brokers Owned 2007 Affinities Investor Day 24-25 September 2012 | Andaz Liverpool Street London 2008 IFAs 2009 MGAs 2010 2011 Tesco 5
    • Distribution in the UK market & at Ageas Ageas meeting customer need: UK broker & IFA distribution Broker and IFA inflows in £ mio 1,111 949 751 760 814 2007 2008 2009 2010 2011  Growing our book in UK broker market; work with 2,000 brokers  Over 7% IFA market share working with over 14,000 advisers Investor Day 24-25 September 2012 | Andaz Liverpool Street London 6
    • Distribution in the UK market & at Ageas Ageas meeting customer need: growth of aggregators Estimated aggregator-instigated motor insurance sales (%) 56% of motor policies sold 56% 48% 46% 44% 41% 56% 59% 61% via aggregators market estimated at 6.4 mio private motor policies a year worth £5.4bn in GWP 39% 77% 44% 52% 54% Aggregatorinstigated 23% 2007 2008 Other 2009 2010 2011F 2012F 2013F Enhanced aggregator capability through acquisition of Kwik Fit Financial Services Source: Datamonitor UK Insurance Aggregators 2011 Investor Day 24-25 September 2012 | Andaz Liverpool Street London 7
    • Distribution in the UK market & at Ageas Ageas meeting customer need: over 50s market Long term outlook of UK population by age in mio 13,133 13,355 11,733 11,371 10,292 11,127 Over 50’s market will organically grow by 14% over the next 10 years 0-14 15-29 30-44 2011 2021 45-59 2031 60-74 75 & over 2041 Strong combined over 50s presence  No 3 Household player  No 4 in Motor market Source: ONS population estimates for United Kingdom Investor Day 24-25 September 2012 | Andaz Liverpool Street London 8
    • Distribution in the UK market & at Ageas Ageas meeting customer need: UK affinity partnerships Total Personal GI market £26.4 bn (2010) Partnership distribution, including bancassurers, represents circa 30% of market Partnerships GWP including banks and lenders GWP (in £ bn) Brokers and Direct Partnerships Home Motor Travel Pet 3.4 1.9 0.27 0.05 Working with the UK’s leading brands Source: Datamonitor and Ageas internal commentary Investor Day 24-25 September 2012 | Andaz Liverpool Street London 9
    • Profile Distribution in the UK market & at Ageas Conclusions author I 19-9-2012
    • Conclusions Reaching more customers through our distribution strategy  Continued organic growth in broker & intermediary market  Strongly placed in growing over 50s broker & intermediary market  Enhanced aggregator capability  Wide portfolio of affinity partnerships with UK’s most trusted brands Investor Day 24-25 September 2012 | Andaz Liverpool Street London 11
    • Disclaimer Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Future actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in Ageas’s core markets, (ii) performance of financial markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates, (viii) increasing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the Economic and Monetary Union, (x) changes in the policies of central banks and/or foreign governments and (xi) general competitive factors, in each case on a global, regional and/or national basis. In addition, the financial information contained in this presentation, including the pro forma information contained herein, is unaudited and is provided for illustrative purposes only. It does not purport to be indicative of what the actual results of operations or financial condition of Ageas and its subsidiaries would have been had these events occurred or transactions been consummated on or as of the dates indicated, nor does it purport to be indicative of the results of operations or financial condition that may be achieved in the future.