Bangkok Life Assurance Public : Analyst Presentation 2Q/2021

2Q21 Analyst presentation

13 August 2021

Agenda

1. 2Q21 and 1H21 performance summary
2. Key Highlights
3. 1. Premiums and Business & Operation
   2. Investments
   3. P&L and Key accounting change
4. Outlook
5. Q&A

2

Synopsis of performance in 2Q21

• 2Q21 profit: Net profit +19% YoY from increase in total premium, investment income and lower ECL
• Total premium +17% YoY, from FYP +80% and RYP +5%
• FYP: BLA +80% vs. industry +15%. Excluding SP, BLA +94% vs. industry -3%.
• • Bancassurance: FYP+131% YoY from new product launch and product revamp
  • Agent: FYP+21% YoY from product revamp, effective sales promotion to drive rider which increased 88% YoY from 19% to 29% attachment ratio
  • Other: FYP showed strong growth except Direct marketing impacted by Covid-19.
• Investment: ROI declined from 4.03%, but up from 3.92% in 1Q21 to 3.96% in 2Q21.
• • Interest income saw a slight decline both YoY and QoQ
  • Dividend income is down YoY, but up QoQ due to seasonality
  • Realised gain is up both YoY and QoQ
• CAR ratio: increased from 284% in the previous quarter to 295%

3

Synopsis of performance in 1H21

• 1H21 profit: Net profit +102% YoY due to increase in PAD reserve from 4% to 5% in 1Q20.
• FYP: BLA +39% vs. industry +10%. Excluding SP, BLA +46 vs. industry -8%.
• • Bancassurance: FYP +70% YoY due to the right product offering
  • Agent: FYP +7% YoY higher number of policies sold although lower ticket size. Product mix continues to be strong and rider attachment continues to increase.
  • Other: FYP from alternative channel had double digit growth in almost all channels
• Investment: ROI declined from 4.79% in 1H20 to 3.94% mainly due to lower realized gain.
• CAR ratio: increased from 275% in 1H20 and 274% in 2020 to 295%

4

Agenda

1. 2Q21 and 1H21 performance summary
2. Key Highlights
3. 1. Premiums and Business & Operation
   2. Investments
   3. P&L and Key accounting change
4. Outlook
5. Q&A

5