Market Leader with Potential for Further Penetration
Genikes
Insurance Well Positioned with Complimentary Distribution
Complimentary distribution
Three distribution channels
% of premiums, FY2022
Agency Network
22%
Growth in bancassurance leveraging on
Bank's leading position
Premiums through bancassurance (€ mn)
Growth also achieved through Direct
sales and the Agency network
Premiums (€ mn )
CAGR
+5%
CAGR
>8%
59
58%
20%
Bancassurance
>
50
29
26.0
26.3
28.2
29.7
24
Direct
26
30
2019
2020
2021
2022
2019
2022
2025
Other
Bancassurance
Well positioned amongst peers
#2 in Total market share in a fragmented market
Premiums Market shares 1 2022
14.6%
13.7%
9.8%
>
Peer 1
1) Excluding A&H of life companies
Genikes
Insurance
Peer 2
#1 in Property market share (high margin product)
Business mix
Premiums Market shares¹ 2022 - Property
% of premiums, FY2022
Other
24.0%
10%
Liability
17.7%
14.5%
>
14%
Genikes
Insurance
Peer 1
Peer 2
Motor
26%
50% Property
31View entire presentation