Introduction for daskr 20120112
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Introduction for daskr 20120112

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    Introduction for daskr 20120112 Introduction for daskr 20120112 Presentation Transcript

    • D.A.S. GroupCompany Profile and LPI MarketSeoul, 12.01.2012Rainer Huber
    • 2AgendaD.A.S. GroupD.A.S. International business
    • D.A.S. Group
    • 4Strategy D.A.S. International, 2010-02-09D.A.S. Legal ProtectionHow we started…
    • 5The field of legal protection shows a high level of internationalization (59 % GWP)D.A.S. is market leader in Germany and throughout EuropeNo. 1 in Europe with 20 %market shareNo. 1 in Germany with13.3 % market shareAbout 12 million customersD.A.S. GroupPresent in 18 markets worldwide
    • 6D.A.S. GroupMission Statementby granting access to law for all clients in our markets,by creating awareness for legal protection at a fair price,by offering solutions for every legal problem,by independent advice and specialization in legal protection,by means of an international network of partners and experts.Affordable justice for all
    • 7D.A.S. GroupFirst mover in LPI and more than 80 years experienceuntil 19281955 – 19592007 ff.19411954 Das Geschäftsmodell Rechtsschutz entsteht:Gründung der D.A.S. in Frankreich, Belgien, Schweiz und Deutschland Wandel zum internationalen Rechtsschutz-Versicherer:Gründungen in den „Reiseländern“ Österreich, Italien, Spanien Worldwide expansion outside Europe (Korea / Canada) Zulassung in Deutschland als Versicherungsunternehmen Wandel vom reinen Kraftfahrt-Rechtsschutz-Versicherer zum allgemeinenRechtschutz-Versicherer Change to International Legal Protection Insurer Formation in Austria, Italy, Spain(typical tourist meccas for Germans in the 50s) Change from pure Car Legal Protection Insurer to General LegalProtection Insurer Authorization in Germany as insurance company(before: mere service company) Development of LPI business model:Formation of DAS France, Swiss, Belgium, Germany
    • 8D.A.S. GroupOur business model Founded as “Contre Assurance”:special interest group against liabilityinsurance companies Taking care of legal interests Cost coverage and legal servicesLPILegislativeCustomers Need for LPI because of complexand complicated legal systems Securing equal opportunitiesin legal matters Increase in legal conflicts in society Business model possiblewith self-regulation and regulation bythird-party lawyers Cost structure for lawyers’fees and court charges essential Regulators and lawyers aspartners of D.A.S. Business model which needsintensive explanation Active sales – push product High level of judicial know-howfor claims management essentialCharacteristicsLegal protection as specialist insurance business demandsspecial know-how in the fields “Legal” and “Lawyers’ Management”
    • 9000Structure as of second half-year 2010VIWISGmbH100%D.A.S.companies abroad99,0 %100 %100 %D.A.S. Rechtsschutz-Versicherungs-AG….D.A.S. GroupD.A.S. in the Munich Re Group structure
    • 10Note: figures incl. Italy, local GAAPWorld market split according to competitors 2010TOTAL~ €7 bnOther~€3,900(~55.7%)D.A.S. / ERGO1,030 (14.7 %)Generali~344 (~5.0%)ARAG707 (10.1%)Allianz~624(~9.0%)Axa~385 (~5.5%)€mSource: CEA, GDV, Annual Reports, DIWorld market split according to countries 2010Netherland771Germany3,248France~ 800Belgium368Austria429UK729€mOther674TOTAL~ €7 bnD.A.S. Market PositionD.A.S. has asserted its market leadership over years
    • 11D.A.S. Group – Market ShareInternational Business – Domestic Market GermanySource: CEA, GDV, Annual Reports, DI*Note: figures incl. Italy, local GAAP, basis GWPLegal protectionNo. 1Market share 2009*International GermanyLegal protectionNo. 119,09%20%9.9%5.8%5.2 %D.A.S. /ERGOAllianzARAGAXAGeneraliOthers5%6%6%7%38%10%13%RolandHUK CoburgAdvoCardÖRAGARAGOthersD.A.S. /ERGOAllianz51.1 %13.3 %
    • 12AgendaD.A.S. GroupD.A.S. International business
    • 13D.A.S. International businessStrong position in the marketD.A.S. operates as specialist insurer in LPI with the brandD.A.S.Expansionin selected markets out of Europe12 million customersEuropes No. 1 in LPI –market leadership in 10 countriesActive in 16 European countries
    • 14Phase II: 1994 - 2006 Phase III: since 2007Phase I: 1955 - 1974 Foundation of 8companies in Europe: 1956 DAS Austria 1958 DAS Spain 1959 DAS Italy 1963 DAS Netherlands 1970 DAS Belgium 1970 DAS Greece 1971 DAS Luxembourg 1974 DAS UK Rounding off WesternEurope: Switzerland (1994)and Ireland (1996) Entering CEE: 1995 DAS CzechRepublic 1997 DAS Slovakia 2000 DAS Poland 2002 DAS Hungary 2006 DAS Estonia Further expansion Europeand implementation of„global selective player“strategy Market entry Asia:2009 DAS Korea Market entryNorth America:2010 DAS CanadaConsolidation1975 - 1993D.A.S. – Market Leader in Legal Protection InsuranceSuccessful internationalization since 1955
    • 15D.A.S.Specialization in LP,no conflict of interest,independent adviceInternationalNetworkcooperation partners,lawyers and expertsTop green fieldExpertise, pioneer indifferent marketsworldwideInnovationPioneer in product,performance andservice orientationKnow How transferoffering solutions for everylegal problem in differentmarketsHigh market share andMarket leadershipKey success factors in diverse marketswith the D.A.S. brandProfile as specialised Legal Protection Insurer and provider of LegalServices
    • 16 Enlarging theproduct offer in LPI Extending LegalServices Enlarging theproduct offer in LPI Extending LegalServices1. Extending theproduct rangeand legal services1. Extending theproduct rangeand legal servicesD.A.S. “Legal Powerhouse” Joint Ventureexperience in D.A.S.over years Extension of existingcooperations Fosteringcooperations withERGO sistercompanies Building up newcooperations Joint Ventureexperience in D.A.S.over years Extension of existingcooperations Fosteringcooperations withERGO sistercompanies Building up newcooperations2.Cooperation andPartnering2.Cooperation andPartnering Entering newbusinesssegments,affiliated to LPI Examples:Debt collection inNetherlandsShareholding inlaw firms Entering newbusinesssegments,affiliated to LPI Examples:Debt collection inNetherlandsShareholding inlaw firms3.Developing NewBusiness Lines3.Developing NewBusiness Lines4.Expansion in newmarkets4.Expansion in newmarkets Expansion in newmarkets worldwide(selective globalstrategy) Mostly Greenfieldapproach M&As asopportunities 100 %shareholding andjoint-ventureapproach Expansion in newmarkets worldwide(selective globalstrategy) Mostly Greenfieldapproach M&As asopportunities 100 %shareholding andjoint-ventureapproachStrengthening Market Position as No. 1 inLegal Protection
    • 17DAS Group: Product Portfolio (extract)LPI Road traffic LPI Family LPI Real estate/Landlord LPI Company LPI LPI for special target groups:youths, seniors, doctors,tax advisors, etc. Patients LPI [...] Legal advice Lawyerrecommendation Mediation Experts Document check Contract issuing/check Debt management/collectionfor privatecustomers [...] Prepaid legal services Debt management/collectionfor companies Combined products:LEI/legal advice/debtmanagement Outsourced legal departmentfor SMEs Law firm shareholding [...]Legal Advice/Service Current InnovationsD.A.S. Group: product portfolio (extract)LPI§ Road traffic LPI Family LPI Real estate/Landlord LPI Company LPI LPI for special target groups:youths, seniors, doctors,tax advisors, etc.§ Patients LPI [...] Legal advice Lawyerrecommendation Mediation Experts Document check Contract issuing/check Debt management/collectionfor privatecustomers [...] Prepaid legal services Debt management/collectionfor companies Combined products:LPI/legal advice/debtmanagement Outsourced legal departmentfor SMEs Law firm shareholding [...]Legal advice/service Current innovationsProduct ManagementBroad product portfolio and innovationsDAS: First in LegalDAS: First in Legal
    • 18D.A.S. International businessDynamic growth of premiums over years (in m €)local gaap87101 111 123150169184205 216241276316362399455 465488526 53857760990 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10CAGR 1990 - 2010: 10,5 %
    • 19D.A.S. International businessSustainable profit over years (in m €)27,519,227,6 27,133,84752,363,348,230,345,82000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010Gross/ before tax/ local gaap2001: crash of stock markets shows strong impact on the investment results,nevertheless result keep in the profit zone2008: result is decreasing due to the financial crisis and restructuring of the assetportfolio, remaining on a high level2009: strengthening of reserves due to a strong increase of labour claims
    • 208749861.0541.1051.2351.3021.3301.3341.5101.6071.7031.8071.9022.1092.1722.1932.2492.3712.5732.8732.90190 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10D.A.S. InternationalEmployees of D.A.S. International companiesWithout Germany
    • 21D.A.S. InternationalKey Data 2010IFRS incl. ItalyMarket position 10 x market leader, 3 x 2nd, 1 x 3rd, 1 x 5thGross Written premium €619.9mInvestments €973mProduction €102mROE 12.4%Combined ratio (net) 96%Result €41.5mClaims payments €289.5mReported claims/ Legal advice 535 thsd./ 475 thsd.
    • 22Strategic PositionD.A.S. with selective global ambitionsThe field of legal protection shows a high level of internationalization (59% GWP)National and international market leader in the field of legal protection
    • 2323
    • 24Business Development – International businessFoundation of DAS Canada and Korea Applied for LPI insurance licencein December 2008 Head office opened in Toronto in April 2009 Launch operations planned for spring 2010 Main approval by FSC in May 2009 Preparing launch operations:Focus on top quality and servicein sales/operations/claims management Launch operations: November 16, 2009 Applied for LPI insurance licencein December 2008 Head office opened in Toronto in April 2009 Launch operations: August, 2010 Main approval by FSC in May 2009 Preparing launch operations:Focus on top quality and servicein sales/operations/claims management Launch operations: November 16, 2009
    • 25DAS Canada
    • 26
    • 27D.A.S. International – Business Planning and DevelopmentHomeshopping in Korea•4.530 Policies (Full product, Average premium 200 €)•900.000 € portfolio per 31.12.2010
    • 28Screening / scoringOverview Green: 100 – 60 points  Dark blue: Present D.A.S. countries Yellow: 59,9 – 45 points  Light blue 1: Countries already under investigation Red: 44,9 – 0 points  Light blue 2: Opportunities already under investigation Grey: countries with insufficient data  Light blue 3: D.A.S. company not belonging to ERGO
    • 29D.A.S. Hungary - 2002 and seven years later
    • 30D.A.S. Hungary - Superbrand 2009, 2010