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INVESTOR MEETINGS – LARRAIN VIALNew York, USAOctober 2017
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AGENDA
I. ILC at a Glance
II. ILC: Value Proposala. Proven expertise in realizing valueb. Industries with growth potential + internal improvement opportunitiesc. Disciplined capital management and strict corporate governance practices
III. Closing Remarks
IV. Appendix
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I. ILC at a Glance
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ILC AT A GLANCE
Dividend Yield LTM June 2017
12.7%at IPO’s price
ROE-Net Inc. LTM June 2017(1)
16.2% - US$172 m.
(1) FX: CLP$650/USD$Source: ILC, Superintendencia de Pensiones Chile, Superintendencia de Banca, Seguros y AFP Perú, Asociación de Aseguradores de Chile
We aim to improve the quality of life of our clients, by offering them efficient and accessible services, mainly in the financial and health sectors.
We favor the creation of value, efficiency and sustainability, guided by the values of our Controller, the Chilean Construction Chamber (CChC).
Mission:
Sectors where ILC participates
Financial & Health
AuM as of June 2017(1)
US$63 bill.in AFP Habitat, Confuturo and
Corpseguros
Local Risk Rating
AA+
Consolidated Employees
~12,200in Chile and Peru
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II. ILC: Value Proposal
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ILC: VALUE PROPOSAL
1.
Proven expertise in realizing value
2.
Industries with growth potential+ internal improvement opportunities
3.
Disciplined capital management and strict corporate governance practices
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FOCUS ON THE FINANCIAL AND HEALTH SECTORS
2012Pre-IPO
Today
Financial Sector
96%
67.5% 99.9% 89.9% 99.9% 32.9% 99.9%
Health Sector IT
Financial Sector
Float:~50% international investors
~50% local investors67% 33%
40.3% 99.9% 50.6% 99.9% 99.9% 99.9%
Health Sector
Partnership with
Education
Source: ILC 7Executed in 2015-2016
Pension Funds (Chile & Peru)
Pension Funds (Chile)
Healthcare Network (Chile)
Mandatory Health Insurance (Chile)
IT Platform (Chile) School Network (Chile)
Life Insurances (Chile)
Corporate Banking (Chile)
Healthcare Network (Chile)
Mandatory Health Insurance (Chile)
Supplementary Health Insurance (Chile)
Disability & Survivorship Insurance (Chile)
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80%
17%
4%
45%
39%
10%
5%5% 4%
AFP Habitat and Isapre Consalud reduced their impact on results from 97% in 2012 to 49% in last twelve months as of June 2017
-8% (ILC Individual and Others)
ILC: Ordinary Net Result 2010 (Pre-IPO) ILC: Ordinary Net Result LTM June 2017
GREATER DIVERSIFICATION OF RESULTS
Source: ILC
8
-1% (ILC Individual, Others and Vida Camara)
US$91.5 million
US$172.2 million
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92 97 106 112 111
172 36
33
343
19% 18%14% 15%
50%
16%
0%
10%
20%
30%
40%
50%
60%
-
50
100
150
200
250
300
2012 2013 2014 2015 2016 LTM June 2017
Ordinary Net Result Extraordinary Net Result ROE (%)
Ordinary net result growth
(2012-2017)+14.1%
CAGR
8.7%annual
450US$ m.
Average Dividend yield (1)
(2012-2017)
Extraordinary net result
(2012-2017)~US$90 m. annually (average)
1
2
3
CAPEX
(2012-2017)4
CONSISTENT RETURN GENERATION
US$ m.
ILC: Net Result and ROE Evolution
(1) Dividend yield at IPO’s priceSource: ILC. FX: 650 CLP$ / USD$ 9
450
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ILC: VALUE PROPOSAL
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1.
Proven expertise in realizing value
2.
Industries with growth potential+ internal improvement opportunities
3.
Disciplined capital management and strict corporate governance practices
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2017: ORGANIZATIONAL STRUCTURE READY TO FACE GROWTH
19812013
2013
2015
2008
1984
2012
Demographic and Economic
Factors(exogenous)
Search for Regional
Expansion(endogenous)
Company
Financial
Financial
Financial
Health
Health
Health
Internal Improvement Opportunities(endogenous)
Sector
Future2012 - 2016
11Source: ILC
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Consorcio & CN Life17,4%
Metlife16,4%
Penta Vida16,2%
Confuturo & Corpseguros
14,9%
Bice Vida9,3%
Others25,6%
LIFE INSURANCE INDUSTRY: DEMOGRAPHIC AND ECONOMIC POTENTIAL
Interest Rate: Programmed Withdrawal vs. Annuity Retirement Alternative Breakdown
Annuity Mkt. Share (Direct Premiums, LTM June 2017)Annuity Industry Gross Premiums (US$ m.)
US$3,882 m.
Source: AACh, SVS, Superintendencia Pensiones.FX: 650 CLP$ / USD$
12
64% 63% 61%71% 71% 69%
36%37% 39%
29%29% 31%34,788
38,804 39,218 43,693
48,851 47,030
2012 2013 2014 2015 2016 LTM June2017
Annuity Programmed Withdrawal
2.922 3.044 2.820
3.752
4.296 3.882
2012 2013 2014 2015 2016 LTM June2017
3,24%
2,85%2,74%
2,39%
3,83% 3,92%
2,91%
3,26%
2012 2013 2014 2015 2016 2017
Annuity Programmed Withdrawal
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448 580
2013 LTM June 2017ROE LTM
Inversiones Confuturo June 2017
18%
Acquisition:November 2013
Acquisition price
US$ 134 m.Participation acquired
67.0%Multiple acquisition (P/B)
0.83x
Strategy:Financial turnaround
New asset allocationLower leverage derived from
new investment strategyMinority stake acquisition at
0.84x P/B
Annuity Direct Premiums (US$ m.)
Net Result (US$ m.)Portfolio Risk (June 2017)
+29%+21%
AuM (US$ m.)
13%
6%
% Real Estate
% Stocks
23%
3%
CONFUTURO: REFOCUSING ITS INVESTMENT STRATEGY
Source: AACh, SVS and ILC. FX: 650 CLP$ / US$ 13
7.275 8.807
2013 June 2017
Bice Vida
Consorcio
Confuturo
Corpseguros
EuroaméricaMetlife Penta Vida
Principal
SecuritySura
8,00
10,00
12,00
14,00
16,00
18,00
0% 5% 10% 15%
Leve
rage (x)
% Equity / AuM (8)
24
51
65
87
2013 2014 2015 2016 LTM June2017
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18,6%17,5%
14,7% 14,8%
17,2%
14,2%
11,0%
2010 2011 2012 2013 2014 2015 2016
Internal Credit Provided by Banking Sector 2015 (% GDP)GDP vs Bank Loans Growth (Chile)
IGPA Comparative ROE 2016Chilean Banking Industry ROE
Industry 2016 ROE
Banking 13.1%
Retail 12.6%
Construction & Real Estate 9.9%
Basic Materials 5.8%
Industrial 2.4%
CHILEAN BANKING INDUSTRY: PROFITABLE AND GROWING
Source: SBIF, World Bank, Bloomberg, BCS, Banco Central de Chile 14
194% 190%174%
147%134%
119% 111%
68%47%
37%5,8%
5,8% 5,5%4,0%
1,9% 2,3%1,6%
8%
17%
14%13%
11%12%
6%
2010 2011 2012 2013 2014 2015 2016
GDP Growth (real) Loans Growth (nominal)
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1714
1311
8
Bice Scotia BBVA Security BI
5853 51 49 48
BI Security BBVA Scotia Bice
5,5
16,1
LTM June 2016 LTM June 2017
17,914,8
LTM June 2016 LTM June 2017
1.322
1.582
June 2016 June 2017
AAA
AA AAAA-
A+
AA+
Scotia BICE BBVA Security - ILC
Loans (US$ m.) Risk Expenses (US$ m.)
Reciprocity(1) (June 2017, %)Efficiency (June 2017, %) Credit Rating (June 2017)
ROE LTM June
201711%
+20% -17%
Acquisition:November 2015
Acquisition price
US$ 100 m.Participation acquired
50.6%Multiple acquisition (P/B)
1.29x
Strategy:Turnaround
Focus on small and medium size companies
Risk and efficiency management
Growth in loans
BANCO INTERNACIONAL: REDUCING GAPS WITHIN THE INDUSTRY
(1) Time deposits / Total liabilitiesSource: SBIF, Banco Internacional. FX: 650 CLP$ / USD$
15
Net Income (US$ m.)
+193%
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40%29% 21%
56%64%
69%
4% 7% 10%
1960 1992 2014
0-14 15-64 65+
Demographic Evolution (Population by Age)GDP vs. Health Expenditure 2015 (PPA, per Capita)
Beds (Every 1,000 Habitants)Physicians (Every 1,000 Habitants)
3,8
3,3
2,62,2
1,9 1,8
4,8
3,0 2,9
2,3 2.21,6
Australia
Chile
Germany
Japan
Mexico
Spain
Switzerland
Turkey
OECD
USA
0
2.500
5.000
7.500
10.000
10.000 20.000 30.000 40.000 50.000 60.000 70.000
2 X
Per Capita GDP PPA (US$/hab.)
Per
Cap
ita H
ealth
Exp
end
iture
PP
A
(US
$/h
ab
.)
Source: OECD Health Statistics 2015, Health at a Glance 2015, World Bank, INE
CHILEAN HEALTHCARE INDUSTRY: LACK IN SUPPLY FOR GROWING DEMAND
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53,2 53,5
10,9%10,0%
5,0%
6,0%
7,0%
8,0%
9,0%
10,0%
11,0%
12,0%
20,0
25,0
30,0
35,0
40,0
45,0
50,0
55,0
60,0
LTM June 2016 LTM June 2017
EBITDA EBITDA Mg.
4,9x
5,3x
4,7x
4,8x
4,9x
5,0x
5,1x
5,2x
5,3x
5,4x
June 2016 June 2017
8,87,1
-
01
02
03
04
05
06
07
08
09
10
LTM June 2016 LTM June 2017
1.141
920
612452
370296
Net Result (US$ m.) Net Debt / EBITDAEBITDA (US$ m.)
Number of Beds
-20%
Company EBITDA Mg. 1H16 EBITDA Mg. 1H17
18.6% 16.9%
11.8% 9.6%
13.7% 9.6%
16.6% 3.8%
First-class healthcare assets across Chile
Estimated CAPEX next 3Y
~US$ 100 m.
Minority stake acquisition at 0.94x P/B
(June 2016)
Focus on efficiency and working capital
Improve synergies among the network
New corporate governance / image renewal
Red Salud
Strategy:Operational turnaround
Comparable EBITDA Margins
+7%-9 bps
Source: ILC, Clínicas de Chile AG (November 2016). FX: 650 CLP$ / USD$
RED SALUD: LOOKING FOR OPERATIONAL EXCELLENCE
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• Prudential’s presence in Latam
• In March 2016 ILC associated with Prudential in AFP Habitat, in order to expand their footprint in the Latampension industry
• Prudential at a glance:
• Founded in 1875
• Presence in more than 40 countries
• Products:
• Life insurances• Annuities• Retirement products• Mutual funds• Investment management
• US$1,334 trillion in AuM / US$3.7 trillion inlife insurances
• 49,000 employees
• Market cap.: US$48 billion
Life insurance
Pensions
1998
1999
2006
2016
Source: Prudential
ILC – PRUDENTIAL ASSOCIATION IN AFP HABITAT
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Capital17,0%
Cuprum8,0%
Habitat21,2%
Modelo13,8%
Planvital11,7%
Provida28,3%
Capital19,5%
Cuprum19,8%
Habitat27,2%
Modelo4,5%
Planvital3,4%
Provida25,5%
Market Share by Contributors (June 2017)
Average Taxable Income in Chile (US$)
• AFP Habitat has a strong presence and recognition in the Chilean pension industry:
Investment Returns (Chilean Pesos)
Market Share by AuM (June 2017)
Source: Superintendencia de Pensiones. FX: CLP$650 per USD$
HABITAT CHILE: CONSOLIDATION IN THE HIGH-INCOME SEGMENT
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5.2 million
US$194billion
680 725 781 842 913 980 1.046 1.098 1.130 0,17
25 48
70 84
104 145 148
Dec.2009
Dec.2010
Dec.2011
Dec.2012
Dec.2013
Dec.2014
Dec.2015
Dec.2016
June2017A
vera
ge T
axab
le In
com
e
(US
$)
Additional Taxable Income AFP Habitat Average Taxable Income IndustryRank Pension Fund Returns (L3Y, June 2017)
Habitat Capital Cuprum Modelo Planvital Provida
Fund A 1° 4° 2° 3° 6° 5°
Fund B 1° 4° 3° 2° 6° 5°
Fund C 1° 4° 2° 3° 6° 5°
Fund D 1° 3° 2° 2° 5° 4°
Fund E 1° 2° 3° 4° 5° 6°
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Habitat2,8%
Integra39,6%
Prima31,7%
Profuturo25,9%
Habitat17,4%
Integra31,2%
Prima23,3%
Profuturo28,1%
Peruvian Labor Force Breakdown (2015)
Workers: 15.9 m.
Market Share: AuM and Affiliates (June 2017)
(1) PPPS: Peruvian Private Pension SystemSource: SUNAT, INEI, CELADE, SBS. FX: 3.25 PEN$ / USD$
PERUVIAN PENSION INDUSTRY: FAVORABLE SCENARIO DRIVEN BY DEMOGRAPHY AND LOW LABOR FORMALITY
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AuM per Affiliate June 2017 (US$)
Investment Returns PPPS(1)
Independent35%
Dependent65%
Formal27%
Informal73%
US$44billion
6.4 million
Rank Pension Fund Returns (L3Y, June 2017)
Habitat Integra Prima Profuturo
Fund 1 1° 2° 3° 4°
Fund 2 1° 2° 4° 3°
Fund 3 1° 3° 4° 2°
1.110
8.791 9.388
6.369 6.911
Habitat Integra Prima Profuturo PPPS
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Vida Tres4,4%
Nueva Masvida15,8%
Colmena17,6%
Consalud20,2%
Cruz Blanca20,9%
Banmédica21,0%
Metlife22,4%
Security Previsión12,4%
Euroamérica11,4%Chilena Consolidada
11,2%
Vida Cámara9,9%
Otros32,8%
ConsaludFacing an adverse scenario due to higher loss ratios and
judicializationsCommercial know-how
Currently implementing efficiency improvements
#5 largest company in supplemental health insurances in Chile
Experience in collective contracts
New CEO and commercial turnaround
Market Share Isapres by Beneficiaries (June 2017) Market Share Supplemental Health Insurances by Premiums (June 2017)
Source: ILC, AACh, Superintendencia Salud. FX: 650 CLP$ / US$
US$593 m.3.3 m.
Vida Cámara
CONSALUD AND VIDA CÁMARA
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ILC: VALUE PROPOSAL
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1.
Proven expertise in realizing value
2.
Industries with growth potential+ internal improvement opportunities
3.
Disciplined capital management and strict corporate governance practices
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Net Financial Debt / Total Equity
DISCIPLINED CAPITAL MANAGEMENT
ILC’s net debtUS$280 million (1)
Consolidated net debtUS$905 million (1)
ILC’s cashUS$95 million (1)
ILC Rating RiskAA+
Dividend Policy by Subsidiary
23(1) ILC Financial data as of June 2017FX: 650 CLP$ / US$
Debt: 66% Bonds34% Banks(1)
Amortization Schedule ILC (June 2017, US$ m.)
0,38x
0,55x0,85x
0,69x
0,74x
1,0x
1,2x
Dec. 2013 Dec. 2014 Dec. 2015 Dec. 2016 June 2017
NFD / Equity Cov. C - Series Cov. D,F & H - Series
158
6 6 6 6 6 6 6 6 6 6
40 40 40
8 8 8 8 8
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041
Bank Loans ILC-C ILC-D ILC-F ILC-H
6M17Distr. Net Income
(Th. US$)
Dividend Policy (%)
Ownership (%)
Habitat 56,022 90% 40.3%
Red Salud 1,846 100% 99.9%
Consalud* 7,925 100% 99.9%
Vida Cámara Chile 4,440 100% 99.9%
Inversiones Confuturo 62,167 30% 99.9%
Banco Internacional 7,696 30% 50.6%
Total 140,096
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STRICT CORPORATE GOVERNANCE STANDARDS
• Each of ILC’s subsidiaries has an independent Board of Directors and Management, who maximize the return of its company
67.0%
16.1%International Investors
Subsidiary’s Board of Directors
Subsidiary’s Management
• The Company is controlled by the Chilean Construction Chamber, a non-profit entity, which annually elects five of the seven directors of ILC during its Shareholders’ Meeting
Directors’ Committee
Investment Committee
ILC’s Board of Directors
ILC’s Management
ILC elects Board
Members
• ILC has a Committee of Directors, responsible for reviewing financial information and auditor’s reports, related parties transactions, remuneration systems, internal auditing procedures, among others
• ILC has also an Investment Committee responsible for reviewing financial decisions undertaken by ILC
• Other initiatives to enhance ILC’s Corporate Governance: Corporate Governance Manual, Ethic Code, Crime Prevention Model, Whistle Blows Channel, Comptroller, Management Control Department, among others
• The Chairman is elected for one year, renewable for a second period
Local Investors 16.9%
24
100%
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3. Closing Remarks
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INVESTMENT HIGHLIGHTS
One of the largest Asset Managers in Latam
Consolidated controlling shareholder
Solid and stable credit risk rating
Proven access to capital markets
Demonstrated track-record in non-
discretionary industries
Attractive and consistent dividend
yield
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4. Appendix
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SUMMARIZED FINANCIAL STATEMENTS AND SUBSIDIARIES FIGURES
Figures as of June 2017 / FX: CLP$664.23 per USD$Inversiones Confuturo Net Debt: US$151 m./ ILC Net Debt: US$362 m. / ILC’s SG&Aa LTM June 2017: US$6.2 m. 28
Ba l ance S heet
Th. US$ June 2017 Dec. 2016
NON I NSURANCE ACTI V I TY ASSETS 1,414,448 1 ,403,245
Total Current Assets 390,035 401,203
Total Non Current Assets 1,024,413 1,002,042
TOTAL I NSURANCE ACTI V I TY ASSETS 9,023,893 8 ,805,848
TOTAL BANKI NG ACTI V I TY ASSETS 2,170,424 2 ,081,163
TOTAL ASSETS 12,608,765 12,290,255
NON-I NSURANCE ACTI V I TY LI AB I LI TI ES 1,110,858 1 ,064,812
Total Current Liabilities 517,023 445,661
Total Non Current Liabilities 593,836 619,150
I NSURANCE ACTI V I TY LI AB I LI TI ES 8,313,541 8 ,191,883
BANKI NG ACTI V I TY LI AB I LI TI ES 1,992,086 1 ,893,417
TOTAL LI AB I LI TI ES 11,416,485 11,150,111
1,081,966 1,025,120
Non-Controlling Interests 110,313 115,024
TOTAL EQUI TY 1,192,279 1 ,140,144
TOTAL LI AB I LI TI ES + EQUI TY 12,608,765 12,290,255
Equity Attributable to Owners of the Parent Company
Income S ta tement
Th. US$ 6M16
NON-I NSURANCE ACTI V I TY
Operating result 21,869 12,634
Non operating result 18,079 212
Profit (loss) before tax 39,948 12,846
Profit (loss) from discontinuing operations 0 342,811
Non-I nsurance activi ty p ro f i t 37,566 355,706
I NSURANCE ACTI V I TY
Operating result 88,826 55,657
Non operating result 279 (15,042)
Profit (loss) before tax 89,105 40,616
I nsurance activi ty p ro f i t 72,010 36,519
BANKI NG ACTI V I TY
Operating result 2,307 6,121
Non operating result (25) 21
Profit (loss) before tax 2,282 6,141
Bank ing activi ty p ro f i t 2 ,564 5,427
PROFI T (LOSS) FOR THE PER I OD
109,399 384,602
Pro f i t attributab le to non-contro l l ing interest 2,741 13,050
6M17
Pro f i t attributab le to owners o f the parent company
Individual Results (LTM June 2017, Th. US$)
AFP Habitat Confuturo Corpseguros Banco Internacional Red Salud Consalud Vida Camara
Industry Pension Funds Life Insurance Life Insurance Bank Healthcare ProviderMandatory health
insuranceVoluntary health insurance
Revenues 262,775 850,668 329,875 80,048 523,734 643,081 69,047
EBITDA / EBITDAE N.A. N.A. N.A. N.A. 52,366 N.A. N.A.
Net Income 158,721 41,893 43,629 15,765 6,946 16,820 8,020
Assets 620,182 5,226,440 3,602,110 2,125,568 612,950 170,826 108,213
Liabilities 137,328 4,893,635 3,302,829 1,984,323 424,547 146,105 46,621
Equity 482,837 332,806 299,281 141,245 173,297 24,721 61,592
Net Financial Debt (44,811) (7,922) 67,880 48,754 277,848 (19,207) (1,171)
% ownership ILC 40.3% 99.9% 99.9% 50.6% 99.9% 99.9% 99.9%
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Voluntary Savings
Pension Funds Pensions Health Insurance Healthcare Providers
GR
OS
S S
ALA
RY
10%Mandatory contribution:Fee:1.27% of gross salary
7%
Voluntary additional contribution
0% -40% Taxes
NE
T S
ALA
RY
Voluntary contribution
PE
NS
ION Programmed withdrawal
Annuity
Mandatory contribution
ILC PARTICIPATES IN NON-DISCRETIONARY INDUSTRIES
29
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10,8%
8,8%
6,6%
3,9%
2,3%
10,6%
8,5%
6,3%
3,7%
2,1%
Fund A Fund B Fund C Fund D Fund E
Habitat Industry
21%
7%
5%
23%8%
36%
13%
15%
36%
17%
19%27%
3%5%
19%
20%
26%
21%
12%
14%17%
8%
28%20%
13%
15%16%
6%
30%
5
CHILEAN PENSION FUNDS REPRESENTED 69% OF GDP IN 2016
Market Players(all private)
Fee(% on gross salary,
capped at ~US$2,600)
Affiliates10.2 million
Contributors5.3 million
Pensioners1.4 million
1.27%0.41% 0.77%
1.44% 1.48% 1.45%*
AuMUS$193 Billion
Taxable Income
(Average, US$)
B
A
C
D
E
Distribution of assets in the Industry by type of fund
AHigher risk
ELower risk
2 3 41 6
Return of Funds 2017 (Real Terms)
97% correspond to dependent workers
Invested in: With a return of:
FX: CLP$650 per USD$. Source: Superintendencia de Pensiones*As of the end of 2016 AFP Provida’ s fee was 1.54% 30
1
2
34
5
6
1
2
34
5
6
1
2
3
4
5
6
1
2
3
4
5
6
US$ 1.278US$ 822 US$ 994 US$ 1.172
US$ 2.078
US$ 919
Estrictamente Privado y Confidencial
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01%
I.11%
II.73%
III.15%
3%
40%
32%
25%
19%
31%25%
25%18%
31%
23%
28%
PERUVIAN PRIVATE PENSION FUNDS REPRESENTED 27% OF TOTAL GDP IN 2016
31
0.9%0
11.6%I.
71.5%II.
15.9%III.
0,02%
43,5%
29,0%
27,5%
Market Players(all private, in addition to a
state owned institution)
Fee*(% on income / % over AuM)
Affiliates6.3 million
Contributors2.8 million
Pensioners0.09 million
AuMUS$43.8 billion
Annual Contribution per Contributor / AuM per
Contributor(US$)
AuM Breakdown by FundUS$43.8 billion
III.Higher risk
0.Lower risk
2 3 41
Return of Funds 2016 (Real Terms)
Invested in: With a return of:
7,1% 7,5%8,5%
4,5%
6,5% 7,%
Fund I. Fund II. Fund III.
Habitat System
620930
Annual Contrib. AuM per Affiliate
1.025
8.232
Annual Contrib. AuM per Affiliate
1.218
8.923
Annual Contrib. AuM per Affiliate
944
6.596
Annual Contrib. AuM per Affiliate
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
4
FX: PEN 3.3 per US$. Source: Superintendencia de Banca, Seguros y AFP
0,38%1,25%
% Income % AuM
0,90% 1,20%
% Income % AuM
0,87% 1,25%
% Income % AuM
1,07%1,20%
% Income % AuM
Estrictamente Privado y Confidencial
32
US$ 1.193 US$ 1.491 US$ 1.349 US$ 1.519
US$ 367
US$ 1.461 US$ 1.365
97% OF CHILEANS ARE COVERED BY HEALTH INSURANCES, OF WHICH 75% IS MANAGED BY THE PUBLIC SECTOR (FONASA)
20,7%
15,9%
20,9%
4.3%
0.6%
16,8%
20,7%
Banmédica
Cruz Blanca
Masvida
Vida Tres
Optima
Source: Superintendencia de Salud, statistics 2014Dimensionamiento del Sector de Salud Privado en Chile - 2014
Supporter
Insurer
A
C
D
E
Isapre Fonasa OthersTotal Beneficiaries
13.5 MTotal Beneficiaries
3.3 M
Consalud
Colmena
Total Beneficiaries1.1 M
Market Players(Private and open)
Market share at the level of beneficiaries to open Isapres
Average Contribution(Annual, US$)
Loss Ratio
*
Provider Private sector, according to chosen plans with Isapres
Public sector
A - B
Public sector and some private providers
C - D
Armed Forces
Chilean Army
Chilean Navy
Chilean Air Force
Chilean Police
Private sector, according to chosen plans with Isapres
Government(7% on taxable salary, capped at aprox US$3,000; with an average contribution of 10% in the case of Isapres)
FX: CLP$650 per US$ 33
86,7% 87,5% 86,3% 84,9%43,2%
88,2% 87,9%
Estrictamente Privado y Confidencial
33
THE PRIVATE HEALTHCARE SYSTEM PLAYS AN IMPORTANT ROLE TO MEET CHILEAN DEMAND FOR HEALTH
30%
70%
Public
48%
52%
Public
66%
18%
2%4%
10%
53.7%
22.7%
3.4%
11.5%
8.6%Geriatric and Phys. Clinics
Source: Dimensionamiento del Sector de Salud Privado en Chile – 2014Health at a Glance 2015
Private
Total Health Expenditure8.8% of GDP
Hospitals and Clinics~ 350
Public Hospitals
Private Clinics
Mutuals
Others
Public Hospitals
Private Clinics
Mutuals
Geriatric and Phys. Clinics
Others
Beds ~ 38 thousand
Private
Doctors~ 30 thousand
Red Salud: 858 beds
Red Salud: 11 private clinics
Geographic Distribution of Doctors in Chile
North2,418 doctors83.7 habitants by doctor
Center - North21,899 doctors47.1 habitants by doctor
Center - South4,415 doctors75.7 habitants by doctor
South1,264 doctors85.1 habitants by doctor
Private
Dentists~ 16 thousand
54%
46%
Public
Private
Nurses~99 thousand
33
54%
46%
Public
Private
Estrictamente Privado y Confidencial
34
Disclaimer:“The information contained herein has been prepared to assist prospective investors in making their own analysis and evaluation of Inversiones La Construcción S.A. and its subsidiaries (the “Company”) and does not purport to contain all the information that a potential investor may desire. This presentation includes forward-looking statements regarding the Company’s commercial, financial and operational outlook, that could be affected for a number of different reasons, such as changes in the economy, regulation, its subsidiaries and other future conditions. Forward-looking statements involve risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied. Therefore, they are subject to change and the Company undertakes no obligation to publicly update or revise any forward looking statements to reflect events or circumstances that may arise after the date of this presentation. Prospective investors are urged to also review the main risks as defined by the Company, which are described in Note 5 of the Company´s Financial Statements.It is the sole and complete responsibility of the prospective investor to determine the use of the information provided and is therefore solely responsible for investment decisions or any other operation in the stock market made on the basis of it.”
IR Contact Information:Trinidad Valdés / +56 2 2477 4673 / [email protected] / Gustavo Maturana / +56 2 2477 4680 / [email protected] / www.ilcinversiones.cl