Closing the Asiban dealDenis Rousset
GroupamaZF Dinner, 8th of April
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A major player in the insurance sector
A mutual insurance, banking and financial services group originating in the agriculture segment
Steady international growth 16 million customers and over 38,000 employees
1900 Law authorising the creation of agricultural mutual insurance funds in France
1963 Coverage of all property risks1972 Launch of life insurance1986 Creation of the Groupama brand1998 Acquisition of Gan, the 4th largest French insurer
A group that covers all business lines, clients and
distribution channels
GroupamaCredit Insurance
GroupamaLegalProtection
GroupamaTransport
GanInsurance
GanEurocourtage
Groupama Life
Gan Wealth
Gan Provident
C.E.S.V.I.
CentresCentaure
MutuaideAssistance
FMB
Télésurveillance
Banque Finama
Groupama Asset
Management
Finama PrivateEquity
GroupamaReal Estate
FINANCEINSURANCE SERVICES
Présence verte
ItalyGroupama
Assicurazioni
Nuova Tirrena
GroupamaInsurances
Biztosito
Gan Hong Kong
GroupamaVietnam
INTERNATIONAL
Groupama
Groupama Günes Sigorta(36%)
Chengdu Branch
Gan Outre-mer
Great BritainChina
TurkeyHungary
SpainGroupama Seguros
PortugalGroupama Seguros
BasakGroupama
GroupamaPhoenix
Greece
China
Romania
BT AsigurariAsiban
OTP Garancia
GroupamaEmployeeSavings
GroupamaBanque
OTP Garancia
Fourmi Verte
CapsAutoBulgaria
OTP Garancia
SlovakiaGroupamaPoistovna
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A leader in its domestic market
Agricultural Insurer Home InsurerIndividual Health InsurerLocal authorities Insurer
Motor InsurerSME Insurer
Marine and transport Insurer
1st
2 nd
3 rd
Unforeseen events Insurer Long term care Insurer Legal protection Insurer
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5
A unique model and an ambitious strategy
A unique economic model An ambitious strategy
A
on mass
business
A multi network distribution
=
A multi network distribution
Multi-channel distribution
A strong brand,
present in 14 countries
A complete range of
insurance, a strong position
in non-life
A diversified portfolio of
loyal clients
A unique capacity to
meet customer
needs
• Leader among mutual Leader among mutual insurers in Franceinsurers in France
• Offering a full line of Offering a full line of insurance products insurance products through several through several distribution networksdistribution networks
• A major market player A major market player with about 16 million with about 16 million clients around the worldclients around the world
• Having an ambitious Having an ambitious strategy for international strategy for international development and growthdevelopment and growth
• Yielding strong Yielding strong operational performanceoperational performance
Ranked among
theTop 10
European insurers
6A strategy of sustainable and
profitable growth
Accelerated growth– change in revenuesincluding 3.9 bn euros in international growth(+39%)
Strong increase inoperating profit
13.4 14.2 14.9 16.2Combined revenue (bn euros)
+ 9.2%
2005 2006 2007 2008
Scope of group
157351 398
661
Operating profit (m euros)
2005 2006 2007 2008
+ 66.1%
Scope of group
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Strong international business growth
SpainGroupama Seguros
PortugalGroupama Seguros
Great BritainGroupama Insurances
HungaryGroupama Garancia Biztosito Romania
BT AsigurariAsibanOTP Garancia
TurkeyBasak Groupama EmeklilikBasak Groupama SigortaGüvenGünes Sigorta (36%)
GreeceGroupama Phoenix
ItalyGroupama AssicurazioniNuova Tirrena
SlovakiaGroupama Poistovna
EUROPE & MEDITERRANEAN
BulgariaSubsidiary of OTP Garancia
TunisiaStar (35%)
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ChinaGroupama (Hong Kong)Groupama S.A. Chengdu BranchGroupama China Beijing Office
VietnamGroupama Vietnam
ASIA
Strong international business growth
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Croatia
Greece
Montenegro
Turkey
Slovakia
Romania
Serbia
Bulgaria
Ukraine
Russia
A solid platform for expansion in Central and
Eastern Europe
Groupama PresenceGrowth potential for Groupama – Presence only of OTP Bank
Proforma based on 2008 data
Hungary
The right market at the right time Dynamic economic growth Well placed for development within the EU High market potential - the insurance penetration
reached only 1.77% of the GDP in 2007 and the total gross premiums reached 7.17 billion lei, a growth of 25.25% compared to 2006.
Why Romania
Romanian market 2007
+168%
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Why Romania:Leading position on the
market Market share
Source: Insurance profile; Insurance supervisory commission
Groupama Romania - Non - life GPW market share percent
2.94.4 4.6
0.3
8.2
12.8
2006
0.3
7.8
12.7
20072005
7.6
0.310.8
Groupama Romania - Life GPW market share percent
9.1
8.5
0.6 0
2005
00.8
5.4
6.2
2006
0.20.5
7.7
8.4
2007
OTPBTAAsiban
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Why Romania:Extensive geographical
footprint
Presence
155
249
54
Maramures631
SatuMare
222
Salaj331
Bihor291
Arad
182
Timis482
Caras-Severin
631
Mehedinti221 Dolj
661 Olt
342
Teleorman
441
Giurgiu
421
Bucuresti
22214
Calarasi231 Constanta
4102
Tulcea241
Braila131
Buzau
351
Vrancea
451
Prahova
572
Dambovita
321Arges
392
Valcea
551
Gorj241
Hunedoara
472
Alba371
Cluj
4132
Bistrita-Nasaud
321
Suceava4
111
Botosani
261
Iasi2102
Vaslui
441
Galati371
Bacau282
Neamt671
Harghita
431
Mures
2101
Sibiu281 Brasov
381
Covasna541
Ialomita
321
National coverage
• All three companies have a network that cover the whole country
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Why Romania:A mix of skilled
employees and agents
Total
Employees and agents
13
The Asiban deal
Asiban Romania's third-largest insurer in life- and non-life products GWP EUR185.8 million (2007) Owners: Banca Comerciala Romana SA, BRD-Groupe Societe Generale
SA, Banca Transilvania SA and Casa de Economii si Consemnatiuni CEC SA
Advisors Rothschild & Cie advised Asiban's four shareholders Raiffeisen Investment Romania advised Groupama
Competitors (with final bids) Axa, Eureko, Aegon, Generali
Winner Groupama – E350 million deal Deal closure: August 6th , 2008
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Strong platform for development in Romania
21 December 2007
26 August 2008
Transactions finalised
6 August 2008
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Groupama in Romania one of the market
leaders Market share
Source: Insurance profile; Insurance supervisory commission
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Life (2008) Non Life (2008)
Key stages for creating a leading company
2009 Merger
Restoring profitability
2010 Development &
sustained profitability
2008 Acquisition
Business continuity
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Long term commitment to the Romanian market
To be a Market maker: professional and innovative
Improve profitability, client services and develop new offers
Product focus: general insurances (auto, goods, equipments, etc), for both individual customers and corporate, followed by life insurance and by agricultural and health insurance
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