results presentation | 3q19...this presentation contains forward-looking statements relating to the...
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Results Presentation | 3Q19
Highlights – 3Q19Marco Antonio da Silva Barros
CEO2
3Q19 Highlights
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• CAIXA Seguridade was certified by the Superintendence of Governance
of the Ministry of Economy for sound corporate governance practices
(“Indicador de Governança – SEST do Ministério da Economia”);
• In the commercial area, CAIXA's Sales Team Program achieved high
levels of internal mobilization, leveraging sales of CAIXA Seguridade
products;
• Execution of a new agreement with CNP.
Financial Performance – 3Q19Leonardo Giuberti Mattedi
Governance, Risks and Investor Relations Officer4
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Financial Performance Overview | 3Q19
Quarterly performance reinforces the robustness of Caixa Seguridade's business model
Gross Billing
R$ 9.0 billion
+35.2% (3Q19/3Q18)
ROE
35.3 %
+1.6 p.p. (3Q19/3Q18)
Net Revenues
R$ 519.5 million
+21.9% (3Q19/3Q18)
Net Income
R$ 437 million
+21.8% (3Q19/3Q18)
Caixa Seguros Holding
Caixa Seguros Part.
Securitárias
Caixa Seguradora
Caixa Vida e
Previdência
Caixa
Capitalização
Youse
Caixa
Seguros Saúde
Odonto
Empresas
Caixa
Consórcios
CNPX S.A.S
(Colômbia)
Wiz Soluções e
Corretagem
Previsul
“Bancassurance” Channel
Too
Seguros
PAN
Corretora
“Bancassurance” Channel
\\\\\\\\BDF
Fee paid as% of
premium issued
Operational
Revenue
Current Business Structure
6
60%
37%
3%
4689
157188
307366
429487
604
722
907
10511090
1299
1478
1052
1217
2000 2002 2004 2006 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 9M18 9M19
16%
Resilient Model
• Double-digit growth
(especially in crisis cycles)
• Creation of CAIXA
Seguridade focused on
CAIXA OTC insurance
business
• Change in commercial
performance in 2017 drives
business
• Net Income: +15.8%
(9M19/9M18)
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Consistent Business Growth
2000
Economic
Crisis
Stability:
growth
period
Sub-
prime
Global
Crisis
Stability: growth
period
Brazil Economic
Crisis
3Q19 performance confirms operating revenue growth with margin expansion throughout the year and higher return onequity.
(Consolidation by Equity Method)
Operating Revenues Distribution (R$MM)
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Holding | Financial Performance
Financial Highlights (R$MM) 3Q18 3Q19 Var. 9M18 9M19 Var.
Gross Billing (R$Bn) 6,658.8 9,002.3 35.2% 20,450.1 25,189.8 23.2%
Operating Revenues 426.3 519.5 21.9% 1,278.6 1,457.5 14.0%
Net Income 358.8 437.1 21.8% 1,052.4 1,216.2 15.6%
Net Margin 84.2% 84.1% - 82.3% 83.4% 1.1 p.p.
ROE (p.a.) 33.7% 35.3% 1.6 p.p. 33.7% 35.3% 1.6 p.p.
95%
3%2%
MEP Composition – R$327.2
Caixa Seguros
PAN Seguros
PAN Corretora
3% 4%
14%
14%
61%
4%
BDF Composition – R$ 192.3
Capitalization
Leasing
Pension
Insurances - Living
Insurances - Provider
Insurances - Other
A wholly owned subsidiary of CAIXA Seguros Holding S.A., its purpose is to provide life, housing, and credit, residential and other
basic insurance. 3Q19 confirmed attractive levels of profitability and return on equity, despite the non-recurring PCC reversal in 3Q18.
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Caixa Seguradora | Financial Performance
1,572 1,688
4,6594,987
3Q18 3Q19 9M18 9M19
Issued Premiums (R$MM)
2,258
1,497
4,972
4,340
3Q18 3Q19 9M18 9M19
Earned Premiums (R$MM)
581
413
1,1891,095
3Q18 3Q19 9M18 9M19
Net Income (R$MM)
54.4
45.2
54.4
45.2
3Q18 3Q19 9M18 9M19
ROE (% p.a.)
+7%
-17% -17%
-34%
-13%
-29%
-7%
+7%
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Caixa Seguradora | Financial Performance (cont.)
Effective control of costs and expenses is confirmed by the stability of the Expanded Combined Ratio in 9M19.
21.00
24.37
25.18 24.49
3Q18 3Q19 9M18 9M19
Loss Ratio(%)
12.20
20.08
15.75
19.28
3Q18 3Q19 9M18 9M19
Commissioning Ratio(%)
19.60
15.80 17.90
15.70
3Q18 3Q19 9M18 9M19
SG&A (%)
51.70
57.20 57.00 56.70
3Q18 3Q19 9M18 9M19
Expanded Combined Ratio(%)
+16%
+11%-1%
+65%+22%
-19%-12%
-3%
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Caixa Vida & Previdência | Financial Performance
A wholly owned subsidiary of CAIXA Seguros Holding, CAIXA Vida & Previdência operates in the marketing of supplementary
pension products. In 2019, Demand for new investment products has boosted growth in the Pensions segment.
3,731
5,858
11,802
15,765
3Q18 3Q19 9M18 9M19
Contributions (R$MM)
96130
300
389
3Q18 3Q19 9M18 9M19
Net Income (R$MM)
57
72
57
72
3.1 3.1 3.1 3.1
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
50
55
60
65
70
75
80
85
90
3Q18 3Q19 9M18 9M19
Reserves & Redemptions (%) and R$MM
Reserves (R$MM) Redemption Index
184229
519
625
1.33 1.30 1.33 1.30
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
-70
30
130
230
330
430
530
630
3Q18 3Q19 9M18 9M19
Management Fee (%) and R$MM
Management Fee (R$MM) Average Fee (%)
+57%
+25%
+21%
+28% +28%
+34%
+16%
+3%
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Caixa Capitalização | Financial Performance
370 394
1,037
1,204
3Q18 3Q19 9M18 9M19
Premium Bonds Collection (R$MM)
2,572
2,799
2,572
2,799
3Q18 3Q19 9M18 9M19
Reserves (R$MM)
37
56
109
144
3Q18 3Q19 9M18 9M19
Net Income (R$MM)
60 66
150
20316.1
16.6
14.5
16.8
13.0
13.5
14.0
14.5
15.0
15.5
16.0
16.5
17.0
50
70
90
110
130
150
170
190
210
230
250
3Q18 3Q19 9M18 9M19
Management Fee (%) and R$MM
Management Fee (R$MM) Average Fee (%)
+6%
+52%
+32%
+10%
+35%
+16%
+8%
+8%
The company is an indirect subsidiary of CAIXA Seguros Holding, which owns 51% of the share capital. The remaining capital stock
is divided into ICATU Capitalização and Sulacap Capitalização.
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Caixa Consórcio | Financial Performance
759 803
2,2342,341
3Q18 3Q19 9M18 9M19
Resources Collected (R$MM)
104127
315
354
13.7
15.8
14.2
15.4
12.5
13.0
13.5
14.0
14.5
15.0
15.5
16.0
75
125
175
225
275
325
375
3Q18 3Q19 9M18 9M19
Revenue from Services (%) and R$MM
Revenue from Services (R$MM) Average Fee (%)
14.8 13.7
57.7 53.6
3Q18 3Q19 9M18 9M19
Net Income (R$MM)
426 513
1,2751,430
1,137
1,954
3,253
5,003
3Q18 3Q19 9M18 9M19
Vehicles Real Estate
Letters of Credit (R$MM)
+6%
+22%
+18%+5%
-7%
-7%
A wholly owned subsidiary of CAIXA Seguros, its corporate purpose is the management of consortium groups for the acquisition of
movables, real estate, and services.
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Disclaimer
This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results,
and those related to growth prospects of CAIXA Seguridade. These are merely estimates and projections and, as such, are based
exclusively on the expectations of CAIXA Seguridade’s management. Such forward-looking statements depend, substantially, on external
factors, in addition to the risks disclosed in CAIXA Seguridade‘s other disclosure documents and are, therefore, subject to change without
prior notice. The Company's non-financial information and estimates were not reviewed by the independent auditors.
The verbs “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “plan”, “predict”, “project”, “target” and other similar verbs are intended to
identify these forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from those
projected in this presentation and do not guarantee any future CAIXA Seguridade performance. The factors that might affect performance
include, but are not limited to: (I) market acceptance of CAIXA Seguridade services; (ii) volatility related to the Brazilian economy and
financial and securities markets, and the highly competitive industry CAIXA Seguridade operates in; (iii) changes in domestic and foreign
legislation and taxation, and government policies related to the insurance markets; (iv) increasing competition from new entrants to the
Brazilian markets; (v) ability to keep up with rapid changes in technological environment; (vi) ability to maintain an ongoing process for
introducing competitive new products and services, while maintaining the competitiveness of existing ones; and (vii) ability to attract clients.
Other factors that could materially affect results can be found in CAIXA Seguridade’s annual report.
All forward-looking statements in this presentation are based on information and data available as of the date they were made, and CAIXA
Seguridade undertakes no obligation to update them in light of new information or future development.
