Investor Presentaiton
PERFORMANCE
2021 Financial Performance
Underlying profit of $152m increased by 130%
o Strong individual and group channel performance
o Additional one-time contribution from Asteron Life
after insurance liabilities valuation model change
Net income of AU$37m
。 Significant interest rates change (flattening of the
yield curve) impacting the market valuation of
expected future premium and claims cash flows in the
distant future
Following the completion of Asteron Life's integration
process, its assets and liabilities have been transferred to
TAL as of October 2021.
FY2020 2Q FY2021 2Q
(AUD in millions)
Change
(%)
Commentary:
(YTD)
(YTD)
Premium and other income
2,899
3,112
+213
+7%
Underlying profit (after tax)
66
152
Individual
62
79
Group
(22)
35
+86
+16
+ 58
+130%
+ 27%
Asteron Life
41
65
+24
+ 60%
Other underlying items
(14)
(28)
(13)
Non-underlying items (after tax)
(3)
(115)
(111)
Interest rate impact on A&L
33
(53)
(87)
VOBA/VIF amortisation
12
(22)
RPS, sub notes costs
(8)
+ O
Intragroup reinsurance
(15)
(19)
(3)
Others
(25)
(24)
+1
Net Income (Loss)
63
37
(25)
(40%)
Net income (loss) year on year change
AUD mn
24
(13)
75
63
Change in underlying
profit +86
(87)
(22)
37
(2)
-(41%)·
Net Income
FY2020 2Q (YTD)
(TAL) Individual
Asteron Life
Group
Other underlying
items
Interest rate impact
VOBA/VIF
amortisation
14
TAL Presentation
Intragroup
reinsurance,
others, etc.
Net Income
FY2021 2Q (YTD)
TALView entire presentation