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ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION

ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION. October 2008. Index. Corporate Profile. Lines of Business - Life & Pensions. Financials. Stock Data. Corporate Vision.

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ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION

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  1. ANADOLU HAYAT EMEKLİLİK A.Ş.COMPANY PRESENTATION October 2008

  2. Index Corporate Profile Lines of Business - Life & Pensions Financials Stock Data

  3. Corporate Vision To be the leading company in Turkey in all aspects of personal financial planning concerning the future of Turkey and the Turkish people

  4. Corporate Profile • First life insurance company in Turkey • Established in 1990 as a subsidiary of Türkiye İş Bankası • Market leader in life insurance sector since establishment • Has been operating in pension business since 27.10.2003 • The only Life & Pension company publicly traded (since 2000)

  5. Türkiye İş Bankası A.Ş. 62% Anadolu Anonim Türk Sigorta Şirketi 20% Fortis Bank A.Ş. 1% Milli Reasürans A.Ş. 1% Free Float 16% Ownership Structure

  6. TOTAL NUMBER OF COMPANIES AS OF 2007 Source: Treasury

  7. TURKEY INSURANCE SECTOR Premium Productions as of 2007 Source: Treasury

  8. Growth Strategy • Shift Distribution Channel Strategy • Focus on Bancassurance • New Strategic Partnerships with Banks • Expanding Direct Sales Team • Improve agency profile • Improve Customer Service Quality • Improve HR quality and thus productivity • Focus on Corporate Pension Business

  9. Network Bancassurance 997 branches 327 branches 321 branches 78 branches 4 branches • 229 Licensed Salesperson 14 branches Direct Sales • 308 Exclusive Agencies • 42 Brokers Agents & Brokers Other • Internet • Call Centre

  10. Corporate Profile Lines of Business - Life & Pensions Financials Stock Data

  11. Lines of Business • Endowment • Term Life • Annuities Pensions Life Insurance • Individual • Corporate

  12. Private Pension System in Turkey Basic Features • Started on 27.10.2003 • 11 Licensed pension companies, as of 31.12.2007 • Third pillar system • Defined contribution • Voluntary participation • Tax incentives for both participant & employer • Fully funded system • Minimum retirement age is 56 • Funds are managed by asset management companies • Separate pension accounts for each participant • Participants have the right to; • Switch funds or pension plan • Transfer accounts between pension companies once a year • Merge their separate pension accounts • Cease contribution payments • Leave at anytime

  13. Private Pension System in Turkey Tax Incentives • Contribution Stage • Contributions are tax deductible up to %10 of income with a cap of annual minimum wage. • Employer contributions are also tax deductible subject to the same limits • Investment Stage • Investment income of pension funds are tax exempt • No stamp tax in setting up pension funds • No tax on transactions in pension system • Benefits payments • %25 of retirement payments are exempt from income tax • Residual is subject to a witholding tax of 5 % • Early surrenders are subject to 15% or 10%(in case of completion of 10 yrs within the system) witholding tax with no exemption

  14. Private Pension System in Turkey TREASURY PENSION MONITORING CENTRE MONEY AND CAPITAL MARKETS ASSET MANAGEMENT ** Reporting of Pension Accounts PARTICIPANT & SPONSOR PENSION ACCOUNT ADMINISTRATION * FUND ADMINISTRATION *** Reporting of Funds Reporting of Pension Accounts CUSTODIAN BANK CAPITAL MARKETS BOARD • * Anadolu Hayat Emeklilik • ** İş Asset Management, HSBC Asset Management, TEB Asset Management • *** Isbank

  15. Private Pension System in Turkey Overview as of 31.10.2008

  16. Private Pension System Outlook

  17. Private Pension SystemSectoral Expectations for 2013 Source: Pension Monitoring Center

  18. KEY DRIVERS FOR GROWTH IN PENSION BUSINESS • Economic Improvements in Turkey • Structural reforms • Extended maturities • Purchasing power • Advantages of Pension System • Tax incentives • Transparent system • Participating to the investment process • New Regulations • Vesting • Right of transfers to the pension system

  19. KEY DRIVERS FOR OUR MARKET LEADERSHIP • Distribution network • Diversified products • Fund performance • Charging structure • Service quality

  20. Private Pension System in Turkey Overview as of 31.10.2008

  21. Private Pension Funds & Mutual Funds

  22. Pension Products Fund Menu Conservative Balanced Aggressive • Intnl. Mixed Fund • Eurobond $ Fund • Eurobond € Fund • Balanced Fund • Cash Fund • Conservative Fund • Bond Fund • Equity Fund • Aggressive Fund 64% 26% 10%

  23. 29.12.2006-31.12.2007 Weighted Average Return

  24. PensionProduction by Channel 66,2 %

  25. Pension Products Charging Structure & Minimum Contribution

  26. Life Insurance in Turkey Market Shares (Premium Production) 26 26

  27. Life Insurance in Turkey Market Shares (Mathematical Reserves) Source: Treasury 27

  28. Life Products/ Profit Sharing Rates

  29. Life PortfolioTotal Number of Policies 29 29

  30. Life Portfolio Total Premium Production(YTL) 30 30

  31. Life Portfolio Premium Production - New Business (YTL) 31 31

  32. Life Production by Channel 36% 32 32

  33. Life Products Charging Structure

  34. Corporate Profile Lines of Business - Life & Pensions Financials Stock Data

  35. Financial Highlights 35

  36. Financial Highlights 36 36 36

  37. FinancialsIncome Statement 37

  38. FinancialsIncome Statement 38 38 38

  39. FinancialsBalance Sheet 39

  40. FinancialsBalance Sheet 40 40 40

  41. Corporate Profile Lines of Business - Life & Pensions Financials Stock Data

  42. ANADOLU HAYAT EMEKLİLİKStock Data

  43. THANK YOU…

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