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ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION

This presentation provides an overview of Anadolu Hayat Emeklilik A.Ş., a leading life and pension company in Turkey. It covers the company's profile, lines of business, financials, and stock data. It also discusses the private pension system in Turkey and the growth strategy of the company.

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ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION

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  1. ANADOLU HAYAT EMEKLİLİK A.Ş.COMPANY PRESENTATION December 2009

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

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

  4. 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

  5. TOTAL NUMBER OF COMPANIES AS OF 30.06.2009 Source: Treasury

  6. TURKEY INSURANCE SECTOR Premium Productions as of 2008 Source: Treasury 6

  7. TURKEY PENSION SYSTEMContributions as of 30.06.2009 Source: Treasury

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

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

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

  11. Private Pension System in Turkey Basic Features • Started on 27.10.2003 • 13 Licensed pensioncompanies • Third pillarsystem • 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

  12. 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

  13. 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

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

  15. KEY DRIVERS FOR OUR MARKET LEADERSHIP Distribution network Diversified products Fund performance Charging structure Service quality 15

  16. Network Bancassurance 1098 branches 336 branches 334 branches 86 branches 3 branches • 282 Licensed Salesperson 3 branches Direct Sales • 286 Exclusive Agencies • 50 Brokers Agents & Brokers Other • Internet • Call Centre 16 16

  17. PensionProduction by Channel 66 % 17 17

  18. Life Production by Channel 29% 18 18

  19. Private Pension System in Turkey Overview as of 18.03.2010 19

  20. Private Pension System Outlook 20

  21. Private Pension SystemSectoral Expectations Source: Pension Monitoring Center 21

  22. Private Pension System in Turkey Overview as of 18.03.2010 22

  23. 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 56% 30% 14% 23

  24. Private Pension Funds & Mutual Funds 24

  25. 31.12.2008-31.12.2009 Weighted Average Return • As of 31.12.2009. 25

  26. Pension Products Charging Structure & Minimum Contribution

  27. Life Insurance in Turkey Market Shares (Premium Production) 27 27 27

  28. Life Insurance in Turkey Market Shares (Mathematical Reserves) Source: Treasury 28 28

  29. Life Products/ Profit Sharing Rates

  30. Life PortfolioTotal Number of Policies 30 30

  31. Life Portfolio Total Premium Production(TL) 31 31

  32. Life Portfolio Premium Production - New Business (TL) 32 32

  33. Life Products Charging Structure

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

  35. Financial Highlights 35 35

  36. Allocation of PeriodProfit 36

  37. Capital Adequacy 37

  38. FinancialsIncome Statement 38 38

  39. FinancialsBalance Sheet 39 39

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

  41. ANADOLU HAYAT EMEKLİLİKStock Data

  42. THANK YOU…

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