GRUPO CATALANA OCCIDENTE, S.A. Presentation of results 3M 2024
Grupo Catalana Occidente, S.A.
Table of Contents
01 Keys of the period
02 Information 3M2024
•Income statement
- Capital, investments and solvency
03 Calendar and annexes
@gco_news
Presentation based on data from the 3M2024 report published on 25/04/2024 | 2 |
01.
Keys of the period
3
01
3M2024: Executive summary
Turnover x10 (1999 - 2023)
5.793
GROWTH
PROFITABILITY
SOLVENCY
Total volume and distribution of the business
Consolidated profit/(loss)
Combined ratio
Permanent resources at market value
€5,992.6 M
€1,863.0 M +1.1%
54.3% Traditional business
41.8% Credit insurance business
3.9% Funeral business
€178.4 M +12.0%
90.1% -1.6 p.p. Traditional business
77.2% +2.9 p.p. Credit insurance business
Shareholder remuneration
€134.1 M
4.590 4.883 5.246
3.826
3.076
1.862
553
1999 2005 2010 2015 2020 2021 2022 2023
Results x18(1999- 2023)
543 | 615 | ||||||
468 | |||||||
296 | 270 | 552 | |||||
176 | 209 | 427 | 487 | ||||
268 | 262 | ||||||
33 | 138 | 181 | |||||
33 | |||||||
1999 | 2005 | 2010 | 2015 | 2020 | 2021 | 2022 | 2023 |
Permanent resources x17 (1999 - 2023)
5.739
4.663 5.192 4.916
3.263
2.135
1.296
332
1999 2005 2010 2015 2020 2021 2022 2023
4
01
Global economic environment
Global economy remains resilient despite uneven growth
Global
GDP | +3.5% 22 | +3.2% 23 +3.2% 24e |
United States
GDP +1.9% 22 +2.5% 23 +2.7% 24e
Latam
GDP +4.2% 22 +2.3% 23 +2.0% 24e
Emerging and developing economies in Asia
GDP +4.5% 22 +5.6% 23 +5.2% 24e
Eurozone
GDP | +3.4% 22 | +0.4% 23 +0.8% 24e |
Spain
GDP +5.8% 22 +2.5% 23 +1.9% 24e
United Kingdom
GDP +4.3% 22 +0.1% 23 +0.5% 24e
Source: International Monetary Fund. April report 2024 | 5 |
01
Financial markets
Rising interest rates
3.5 | 5.0 | |
3.3 | 4.2 | |
3.2 | ||
2.3 |
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 2023 2024 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Spain 10 year bond | Spain 1 year bond | Germany 10 year bond | Germany 1 year bond | US 10 year bond | US 1 year bond |
Stock Markets
Revaluation 3M2024
+10.2% S&P
+11.0% MSCI World
+12.4% Euro Stoxx 50
+9.6% Ibex 35
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
MSCI World | IBEX35 | S&P | EURO STOXX 50 | ||||||||||||||
Source: Bloomberg. Updated March 2024
6
01
The insurance industry in Spain
The insurance sector in Spain decrease by 3.1% in turnover, mainly due to the evolution of Life premiums
Premiums (€M) | 76.364 |
+17.8%
55.486
12,3% | -0,6% | 1,6% | -0,4% | -8,2% | 5,0% | 4,8% | |||
2,5% | |||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Insurance sector premiums 12M2023:17.8%
1,0%
-18,3% | -15.2%Life | |
Risk | Savings | |
Profit/(loss) Technical Account
(Technical P/(L) + Financial P/(L))
6.498
5.111
+2.9%
-28,5%23,6% 12,6% -7,1% 5,4% 16,3% 1,5% 7,4%
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
9,4%
8,2%
7,2%
6,0%
Motor Multi-risk Health Other
Source: ICEA close March 2024
7.7% Non-Life
7
01
GCO at 3M2024
(figures in € million) | |||||
Income | 3M2023 | 3M2024 | % Chg. | ||
23-24 | |||||
Traditional business | 993.0 | 1,012.5 | 2.0% | ||
Recurring premiums | 885.4 | 936.4 | 5.8% | ||
Single premiums life | 107.6 | 76.1 | -29.3% | ||
Credit insurance business | 801.2 | 778.3 | -2.9% | ||
Insurance turnover | 1,794.2 | 1,790.9 | -0.2% | ||
Funeral business income* | 48.2 | 72.1 | |||
Total turnover | 1,842.4 | 1,863.0 | 1.1% | ||
(figures in € million) | |||||
Profits/(losses) | 3M2023 | 3M2024 | % Chg. | ||
23-24 | |||||
Ordinary profit/(loss) of the traditional business | 53.6 | 67.8 | 26.4% | ||
Ordinary profit/(loss) of the credit insurance business | 101.0 | 100.6 | -0.3% | ||
Recurring profit/(loss) from funeral business | 5.0 | 8.6 | 72.9% | ||
Non-ordinary profit/(loss) | -0.3 | 1.4 | |||
Consolidated profit/(loss) | 159.3 | 178.4 | 12.0% | ||
Attributable profit/(loss) | 142.1 | 160.9 | 13.3% |
*From February 2023 data from Mémora included
8
01
GCO diversification 12M2023
Balanced portfolio, complete offer
Life 20,0%
Other 6,7%
Motor 11,9%
52.9%
Traditional business
3.9%
Funeral business
Credit insurance
34,3%
Multi-risk 14,3%
Income from information
3.2%
Surety insurance 3,3%
Accepted reinsurance 2,4%
43.2%
Credit insurance business
29.6% retained business
_____________________
9
01
Global Presence
6th Largest insurance group in Spain
1st Largest
funeral business group in the Iberian Peninsula
2nd Largest
credit insurance group in the world
50 countries 1,500 offices
Diversification
by countries
63.0% Spain
11.8% Central and Northern Europe
13.4% Western Europe
4.0% Southern Europe
4.0% Asia and rest of the world
3.8% The Americas
10
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Disclaimer
Grupo Catalana de Occidente SA published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 14:36:03 UTC.
