View
219
Download
5
Category
Tags:
Preview:
Citation preview
Oriental Fire & Marine Insurance Co., Ltd.
Information herein is published on www.insuworld.co.kr 2004. 11. 11 1
OFMI Management OverviewOFMI Management Overview
( FY2004 First half )( FY2004 First half )
www.insuworld.co.kr 2
Contents Brief History
Award History
Direct Premiums Written
Profit and Loss Index
Asset Management
Others
www.insuworld.co.kr 3
Brief History
: Establishment of Chosun Fire & Marine Insurance Co., Ltd.
(1st Ins. Co. In Korea)
: Change Name to Oriental Fire & Marine Insurance Co., Ltd.
: Listed on Korea Stock Exchange
: Became a member company of Hanjin Business Group
: Paid in capital increased to W42.9 billion
: Total assets surpassed W1 trillion mark
: Formed PT. Asuransi Hanjin Korindo, a join venture in Indonesia
: Opened On-line Shopping Mall ‘INSUWORLD’
: Total assets surpassed W2 trillion mark
: Working assets surpassed W2 trillion mark
1922.10
1950. 5
1956. 7
1967. 7
1995. 1
1996. 5
1998.11
1999. 9
2002. 7
2004. 2
www.insuworld.co.kr 4
Award History: Received Outstanding Award in Finance sectors in 5th Maeil Economy Daily Financial Product Contest: ‘Feel safe product’ Awarded the best Korea marketing Award in service category by KMAC: Ranked No.1 in Non-life Insurance industry and Ranked No.2 in the Whole Industry in Korea Standard-Service Qulity Index: ‘Military Product’ Awarded in excellent New products by FSS: Received ‘The Best Prize in New Corporate Culture’ organized by the Korea Management Association: Received the best Insurance Award(Deputy prime minister & Ministery finance & economy Award by Seoul Economics Daily): Received the best Insurance Award (Korea Insurance development Institute) by Herald Economics Daily: Awarded The Grand Price in Service-Oriented Management Among The Best Service Companies in Korea, Certified by Ministry of Commerce, Industry and Energy of Korean Government.: Awarded the excellent developer for the new-insurance product of Merit Motor Insurance for personal use by FSS (Financial Supervisory Service): Received Outstanding Award for Non-dividend Dr. Care Health & Nursing Insurance Product in Finance sectors in 9th Maeil Economy Daily Financial Product Contest: Conferred 'Grand Prix' for the sector of young generation welfare among the society-contribution companies in 2004 (managed by 'The Korea Economic Daily'): Received the Best Outstanding Award for Customer Service Renovation in Customer Satisfaction Management Contest (managed by KMAC) Awarded the Grand Prix in Marketing (managed by 'The Herald Business')
2000. 3
2001. 6
2001.10
2001.12 2002. 7
2003. 7
2003.10
2003.12
2003.12
2004. 3
2004.10
2004.11
www.insuworld.co.kr 5
Direct Premiums Written
7.7% in sales growth in FY2004 First half Focusing on sales growth with profitability thru Restructuring LT insurance
portfolio based on monthly payment and enlarging in wide coverage products in auto.
M/S G/R M/S G/R M/S G/R 실적 M/S G/R
Commercial 312.3 14.3 35.4 329.1 13.1 5.4 296.2 11.5 - 10.0 132.1 11.5 - 15.8
Automobile 605.2 8.2 30.6 617.1 8.0 2.0 615.7 7.8 - 0.2 334.3 7.8 11.0
Long- term 562.9 7.7 7.5 527.3 6.6 - 6.3 574.7 6.7 9.0 322.9 6.7 16.9
Pension 57.5 8.6 2.9 56.4 8.3 - 1.7 57.4 8.3 1.6 31.4 8.3 13.1
Total 1,537.9 8.8 20.7 1,529.9 8.1 - 0.5 1,544.0 7.8 0.9 820.7 7.8 7.7
FY2004 First halfC lass
FY2001 FY2002 FY2003
* The ratio of the premiums of risk-basis products in Long-Term insurance : FY2001 75.8% → FY2002 86.4% → FY2003 89.0% → FY2004 First half 88.2%* The ratio of the premiums of high-coverage products in Automobile insurance :
FY2001 9.1% → FY2002 20.1% → FY2003 56.7% → FY2004 First half 59.4%
(Won in billion,%)
www.insuworld.co.kr 6
Profit
1. Profit
21.1 Billion total profit in FY2004 First half : Net Income 15.0 Billion, Increase in catastrophe reserve 6.0 Billion
9.2 10.1 10.56.0
43.7
15.0
52.8
44.2
30.5
21.1
34.1
20.0
FY2001 FY2002 FY2003 FY2004 First half
Increase in catastrophe reserveNet IncomeTotal Profit
(Won in Billion)
www.insuworld.co.kr 7
2. Profit Index
FY2004 First half Loss Ratio 80.5%(+0.5%P, compared to FY2003 First half) FY2004 First half Expence ratio 22.8%(-3.1%P,compared to FY2003 First half) FY2004 First half Combined ratio 104.1%(-1.0%P, compared to FY2003 First half) FY2004 First half Investment profit ratio 5.2%(-0.3%P, compared to FY2003 First half)
FY2001 FY2002 FY2003 FY2004 First half
Commerc ial 45.6 44.1 48.1 44.4
Automobile 66.3 69.7 79.2 73.8
Long- term 87.5 87.5 84.5 88.6
Pension 126.2 121.7 124.3 115.8
Total 78.4 78.8 81.5 80.5
22.3 24.8 24.7 22.8
102.5 102.5 106.2 104.1
6.8 5.3 6.3 5.2Investment profit ratio
Combined ratio
C lass
LossRatio
Expense Ratio
(%)
Profit
www.insuworld.co.kr 8
3. Solvency Margin
183.9% Solvency margin in FY2004 First half (Exceeds the basic solvency margin ₩ 158.0 Billion)
147.4 158.0133.9
94.4
185.5 183.9
163.4
183.4
FY2001 FY2002 FY2003 FY2004 First half
Surplus amount Solvency magin
(won in Billion,%)
Profit
www.insuworld.co.kr 9
Asset Management1. Asset Management
Total asset increased 6.8% over FY2003, in amount of ₩ 2,490.4 Billion Working asset increased 5.4% over FY2003, in amount of ₩ 2,135.6 Billion Ensuring high return by increasing loans. Equty in total of ₩ 77.7 Billion is composed of Trading ( ₩ 4.6 Billion), Available For Sale( ₩ 63.4 Billion) , Eputy Method( ₩ 9.8 Billion)
86.6 87.8 86.9 85.8
10.511.2 10.0 11.92.3 2.6 2.3
FY2001 FY2002 FY2003 FY2004 First half
Working asset Non- Working asset Separate account
8.2 10.0 10.6 12.87.6 12.5 10.4 12.3
56.660.0 66.7 62.3
27.6 17.5 12.3 12.6
FY2001 FY2002 FY2003 FY2004 First half
Cash & Deposits Loans Securities Real estates
2,150.51,938.5 2,332.0
[ Working asset ][ Total asset ] (Won in Billion,%) (%)
2,490.4
www.insuworld.co.kr 10
2. Investment profit
Class FY2001 FY2002 FY2003 FY2004 First halfEquity 17.4 - 6.5 9.7 - 5.4Bonds 54.8 76.2 80.3 41.7
Other FI(loans,etc) 30.6 22.0 29.6 17.5Total 102.8 91.7 119.6 53.8
Investment profit ratio 6.8 5.3 6.3 5.2
(Won in Billion,%)
5.2% Investment profit ratio in FY2004 First half
Asset Management
www.insuworld.co.kr 11
Others
1. Shareholders
Majorstockholders
23.68%
Employeestock1.65%
Others25.62%
Treasury Stocks9.67%
Foreigners39.38%
Foreigners’ Shares : 14.50%(FY2001) → 13.31%(FY2002) 37.30%(FY2003) → 39.38%(FY2004 First half)
www.insuworld.co.kr 12
Others
2. Stock Related Index
51.6
97.3
41.2 45.950.4
Oriental A B C D
● As of FY2004 First half : ₩ 37,605
● BPS Including Catastrophe Reserve ※ Number of Share : 8,580,000
67,834110,402105,104
37,605
681,268
Oriental A B C D
[ PBR (Price / BPS) ]
[ BPS ]
● As of end of FY2004 First half Ratio is 41.2%
● Stock price as of end of FY2003 : ₩ 17,300
(%)
(Won)
www.insuworld.co.kr 13
Others3. Treasury Stock
Treasury stock Fund : KITMC 230,010 Treasury Stock : 600,000 Average Price : ₩ 9,649 (97.12.19~98.1.26, 300,000) ₩ 17,423 (99.10.19~11.29, 300,000)
4. Dividend Payout by years
year Dividend Rate Dividend Net IncomeDividend
yieldPayoutRatio
FY96 cashdividend 12% 600 Won 13.9 Billion 3.0% 36.92%
FY97 cashdividend 8% 400 Won 15.3 Billion 4.4% 21.65%
FY98 cashdividend 12% 600 Won 19.5 Billion 3.0% 25.48%
FY99 cashdividend 15% 750 Won 31.3 Billion 7.0% 18.43%
FY2000 cashdividend 5% 250 Won - 19.8 Billion 7.0% -
FY2001 cashdividend 20% 1,000 Won 43.7 Billion 5.4% 17.70%
FY2002 cashdividend 20% 1,000 Won 34.1 Billion 8.6% 22.70%
FY2003 cashdividend 20% 1,000 Won 20.0 Billion 5.5% 38.70% Solely selected among Insurance companies in KODI (2003.7)
www.insuworld.co.kr 14
Others
5. Dependence on afiliates
Class Equilty bonds Loans Total
Book value 40.3 10.0 50.3
Ratio 1.62% 0.40% 2.02%
Class Bonds Liabilities (reserve)
FY2000 2.4 yrs
FY2001 2.85 yrs
FY2002 2.52 yrs
FY2003 2.93 yrs3.16~3.61yrs(approximately 3.29~3.53yrs whenpersonal pension excepted)
FY2004First half
2.28 yrs3.19yrs(approximately 3.33yrs when personalpension excepted)
6. Bonds & Loans Duration
(Won in Billion)
www.insuworld.co.kr 15
Others
7. Non-Performing Loans
C lassCoverage (allowancefor bedbebt)amount
to total Loans
NPL(Substandard and below to total loans)
Coverage Ratio
FY2000 1.65 4.60 35.88
FY2001 1.41 3.67 38.37
FY2002 0.40 1.29 31.27
FY2003 0.33 1.44 22.96FY2004First half 0.17 0.73 25.35
(%)
Recommended