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KBC Insurance Investor Relations conference 2 July 2001

KBC Insurance Investor Relations conference 2 July 2001. Willy Duron Ceo of KBC Insurance Vice-President of KBC Group. Insurance. Place in KBC-Group Key figures Leverage Asset Management Strategy Financial targets/projections. Topics. Place in the KBC Group. KBC-H. KBC-B. KBC-I.

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KBC Insurance Investor Relations conference 2 July 2001

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  1. KBC InsuranceInvestor Relations conference 2 July 2001 Willy DuronCeo of KBC InsuranceVice-President of KBC Group

  2. Insurance • Place in KBC-Group • Key figures • Leverage • Asset Management • Strategy • Financial targets/projections Topics

  3. Place in the KBC Group KBC-H KBC-B KBC-I KBCBancassurance Committee Centea Fidea Independentbankagents Micromarkets (bankbranch + tied insur. agent) + E-channel + Call Centers Brokers

  4. KBC Insurance Group KBC Insurance life & non-life Domestic Fidea life & non-life Warta Poland non-life Warta-Vita Poland life Central CSOB-P Czech Rep. non-life Europe K&H-Life Hungary life Argosz Hungary non-life FDB Ireland non-life VITIS-life Luxemburg life Reinsurance Secura

  5. Key figuresKBC Insurance consolidated In ‘000 EUR *(unrealised gains belong to KBC Insurance and hence to the shareholders)

  6. Example leverage non-life Premium 100 Res.Ratio 260 Profit 11.4 - Inv.Incomeon reserves 15.6 Combined Ratio 106.6 x + : Inv.IncomeRate 6% Inv.Income 18.0 + Return on RBC 29% x Inv.Income on RBC 2.4 RBC 40 RBC 40

  7. Asset Management • ALM: • Insurer’s decision • Asset mix: • Insurer’s decision, • KBC Asset Management advise • Stock Picking: • KBC Asset Management’s decision (benchmarks, SLA) • Daily Management : KBC Asset Management

  8. Target Asset Mix 55% Bonds Non-life 40% Shares 5% Real estate 75% Bonds Life 20% Shares 5% Real estate

  9. Strategy (1) • Domestic retail • Increase marketshare via micromarkets(= bancassurance) (including E-channel) • Fidea has signed a bancassurance agreement with Centea • Broadening of productsale through package offering • Target marketshares: %

  10. Strategy (2) • Domestic SME • Reorganisation towards this typical KBC customer segment (finished 09/2001) • Huge cross-sellling potential in the bank customerbase • Target marketshares : %

  11. Strategy (3) Domestic strategy Domestic growth = endogeneous growth = financed through retained earnings KBC Insurance has become more a life insurer than a non-life insurer : 70% life, 30% non-life in 2000 (30% life,70% non-life before the merger)

  12. Strategy (4) • Central EuropeCommon strategy with the bank • ReinsuranceSearch for a partner in order to bring Secura in a larger entity Central Europe = exogeneous growth = financed through excess capital

  13. Financial targets Combined Ratio Non-life < 101% Combined Ratio Reinsurance < 106% Solvency Ratio > 200% of legal Cost Ratio Non-life < 30% Cost Ratio Traditional Life < 20%

  14. KBC insurance 2001-2005 Projections Remarks: - merger efforts realized 12/2001 - reengineering benefits 2002-2005 - increase marketshares

  15. KBC InsuranceInvestor Relations conference 2 July 2001 Willy DuronCeo of KBC InsuranceVice-President of KBC Group

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